I just posted about Bear Stearns and rumors, and the very next news article I saw was about Lehman. It’s from Reuters, and the headline is “SEC probing if short sellers hitting Lehman: source In part, the article says: Shares of Lehman have fallen more than 40 percent since the beginning of February, far more than [...]
Filed under: Uncategorized | Tagged: Bear Stearns, Lehman, liquidity | Leave a Comment »
I just read a report from Marketwatch via FoxNews that kinda ticked me off. The report says that Market self-regulatory organizations late Monday warned traders against circulating any “sensational rumors that might reasonably be expected to affect market conditions” as well as trading on material, non-public information. Sounds good, except the article goes on to [...]
Filed under: Economy | Tagged: Bear Stearns, BSC, capital, collapse, liquidity | Leave a Comment »
It was quite a day today in the financial media. I’ve read stories tonight about why it’s great for everyone that the Fed bailed out Bear Stearns, I’ve read stories about why it’s bad that the taxpayers are bailing out Bear Stearns, and I’ve read stories where I don’t think the author had a clue what he [...]
Filed under: Economy | Tagged: ARM's, Bear Stearns, defaults, equity, foreclosure, home loans, mortgage, subprime | Leave a Comment »
Just had to pass this on. Excellent write up of the financial issues facing Wall Street and (though I disagree with some of it) Allan Sloan does a good job of breaking down a complex subject. Highly readable and highly recommended. gk
Filed under: Economy | Tagged: Bear Stearns, BSC, depression, Economy, Finance, recession, Wall Street | Leave a Comment »
In reading some of the articles from major media sources regarding Obama’s “historic” speech, all I can say is thank God for the First Amendment! To give you a sample of what I’ve seen online, take a look at this article from the San Francisco Chronicle. The article says Obama’s “historic” speech has “elevated the [...]
Filed under: Political, Religious Crap | Tagged: Catholic Church, first amendment, law, Obama, race, Religion, tax exempt | Leave a Comment »
Wow, I know the NY times is not a fan of deregulation (in any form) but they’re piling on in the past few days. Check out this editorial calling for more federal regulation on credit cards. As an example of why more regulation is needed, they provide an anecdote of a stupid man in Chicago. [...]
Filed under: Economy, Political | Tagged: credit cards, Debt, NY Times, regulation | Leave a Comment »
I ran across an interesting article in the NY Times today. Gail Collins obviously believes in cradle to grave socialism, but she writes well. She sarcastically lambasts McCain for wanting the current crop of hustlers to fail on their own, and she doesn’t seem to understand the consequences of what she’s advocating. If people (and [...]
Filed under: Economy, Political | Tagged: Economy, Gail Collins, McCain, NY Times, welfare | Leave a Comment »
Ok, things are getting bad in the economy – sub-prime, housing, credit, Social Security and Medicare crisis’ - all sorts of problems that we’ll work through eventually. But this could cause the whole house of cards to come tumbling down. According to the story there’s a severe shortage of hops, an essential ingredient in the making of [...]
Filed under: Economy, Political | Tagged: beer, civilization, Economy, hops, politics | Leave a Comment »
According to a story on FoxNews, Oregon is charging a couple with manslaughter after letting their 15 month old daughter die. They’re another couple of religious fanatics who thought that God would make their daughter well if they prayed for her. But they also anointed her with oil, so maybe that counts as medical treatment…. I think Oregon [...]
Filed under: Religious Crap | Tagged: faith healing, God, law, Religion | Leave a Comment »
Say it ain’t so Hank! According to the news reports, Paulson will propose sweeping new regulatory powers for the Federal Reserve on Monday. Here’s CNN’s story. Here’s a link to the executive summary from the Federal Reserve. I haven’t had a chance to read the whole thing yet, but according to CNN, the proposal would: • [...]
Filed under: Economy, Political | Leave a Comment »
