Do as I say, not as I do.

So it looks like the government has gotten concessions out of private banks in regards to outstanding mortgage balances. According to USA Today  the settlement requires the five leading mortgage servicers to forgive at least $10 billion in principal that homeowners owe on mortgages. That will help underwater borrowers who owe more on their mortgages […]

The return of Mark to Myth?

It looks like the Senate is attempting to allow the banks to sweep their problems under a rug.  A MarketWatch.com article this evening says “an accounting regulation that some bankers and lawmakers complain is a key contributor to the financial crisis might need to be temporarily changed or restricted. The rule, known as mark-to-market, requires […]

Weird

I had posted an article late Friday night/Saturday regarding the “expert” opinions staying to stay fully invested in the stock market.  I’m not sure what happened to it, but it gives a not found error now. Suffice it to say that all the major sites (CNN, FoxNews, NY Times, Marketwatch, etc) said pretty much the […]

The dollar is done

I read an article on Business Week saying that the dollar may be at a bottom.  Huh?  I read the entire article, but I don’t see anything that suggests we’re going to quit borrowing $1.45 billion per day – and that’s at the national level alone.  Coupled with the American consumers’ ability to live beyond […]

Wall Street Chaos

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

A Crisis of Faith

Paul Krugman has a decent opinion piece in the NY Times today.  If you’ve read any of his stuff before, you know that he thinks government has all the answers – and that government can fix whatever is wrong with (pick your topic!). Todays’ article basically blames everything economic on “A Crisis of Faith”.  He […]

Another Prognosticator Oops!

I wonder how Doug Kass is feeling about this advice he gave on Jan 14th? http://www.thestreet.com/s/kass-katch-buy-the-financials-yes-buy/newsanalysis/investing/10398482.html Yup, you read that right – he said to “Buy the Financials. Yes, Buy”.  Since Mr. Kass published his story on the 14th, the Financial Sector Index (XLF) is down more than 8% – and it was down 10% […]