The return of Mark to Myth

Want to know the real reason financial stocks rose so much today?  The SEC loosened the accounting rule called “Mark to Market” today.  This accounting rule is blamed for the financial problems of banks and other financial institutions, because it requires companies to value assets on their books at the price they could actually bring […]

$700 Billion Bailout Fails in House!

There’s good news on the bailout bill – it failed to pass the House! I know the DJIA dropped immediately – but that’s a good thing.  The excess credit (and resulting excess debt) need to be wiped out before we can start the recovery.  Personally, I think we need to drop a lot more than […]

Financial Common Sense

Here’s a bit from today’s Daily Reckoning that everyone needs to read.  I’ve added emphasis to some parts I think are especially important. For the last 15 years, the U.S. money supply has grown about twice as fast as GDP. Federal government liabilities, meanwhile, have grown three times as fast. As a result, the USA […]

Gotta be a mistake – Bush got it right

Someone must have screwed up, because when Bush made his speech the other night, he actually got part of it right.  In the past 7 years, you can probably count on one hand the number of times that has happened.  It’s probably lower than mere chance would allow! I’ve said it before, but it bears […]

How to blow $700 billion

I don’t know where to start….  Let me get this out of the way – I think the $700 billion bailout of Wall Street banks is a bad idea.  A very bad idea.  A very bad idea for many reasons.   I’ll try to explain some of them. For starters, here’s what the Telegraph in the […]

Financial Bailout Plan

This needs to be read by more people, so more people can contact congress to let them know what they think of it.  I’ll post the reasons for my own thoughts later (I think it sucks!) but for now, here’s the text of the proposed plan according to the NY TImes.  Please read it and […]

NFL Week 3

I don’t know what it says about my team when I see Total Access on the NFL Network give their top 10 sleepers for week 3 – and I have 4 of them on my fantasy team….  I think it means I have a lot of potential, but hey, they’re called sleepers for a reason. […]

Financial Meltdown

I’ve got a lot more to say, but I was reading a story on the NY Times and this caught my attention: “It’s like having a fire in a cinema,” said Hyun Song Shin, an economics professor at Princeton. “Everybody is rushing to the door. You are rushing to the door because everyone is rushing […]

Fed Plays Whack-A-Mole

Here’s the quote of the day from a story on MarketWatch.com “The Fed is trying to provide liquidity as quickly as it can, but there seems to be an endless supply of ‘moles’ and only one mallet,” said Kevin Giddis, managing director, Morgan Keegan & Co. Inc. Of course “provide liquidity” can also be read […]

NFL Week 2 Fantasy Thoughts

Just a few of my thoughts on Week 2 fantasy play.  In no particular order: If he plays, Antonio Gates (currently listed as probable) will have a huge week.  Denver has a great offense this year and I think San Diego will be playing catchup all day.  Since Denver also has some pretty good shut […]