We’re going to be demanding some restraint in exchange for federal aid. – President Obama on Wednesday If you have someone who was making well over $1 million, and now they are capped at $500,000, it is very conceivable that…
I would like to see a regulatory system aimed at insulating the real economy from financial innovation insofar as that is possible. That may require limits on the freedom of action of commercial banks. – Robert Solow, 1987 Nobel Prize…
Here’s the PDF file for this weekend’s client note: Top Gun FP Client Note: The Causes Of The Financial Crisis.
This is great: The Free Market Clapper. 100% true as well.
Even if GM implements the planned operating actions that are substantially within its control, GM’s estimated liquidity during the remainder of 2008 will approach the minimum amount necessary to operate its business. Looking into the first two quarters of 2009,…
Markets are idling today ahead of tomorrow’s election. Volume is the lowest it’s been since the lazy days of August. The question we need to ask today is what the likely impact of the election will be on stocks. I want…
Socialism, n. : Any of various theories or systems of social organization in which the means of producing and distributing goods is owned collectively or by a centralized government that often plans and controls the economy. Today I am announcing…
Some of the best trades come when everyone gets very panicky. The crowd can often act very stupidly in the markets. You can picture price fluctuations around an equilibrium level as a rubber band being stretched – if it gets…
The Federal Reserve Board on Tuesday, with the full support of the Treasury Department, authorized the Federal Reserve Bank of New York to lend up to $85 billion to the American International Group (AIG) under section 13(3) of the Federal Reserve…
Fascinating article in today’s NY Times that is getting a lot of play: “81% in Poll Say Nation Is Heading on Wrong Track”, NY Times, Friday April 4. The 81% who say the nation has gotten pretty seriously off on…