ShareCharlie Rose’s site says of this video clip:
A conversation about Bear Sterns and the economic crisis with Kate Kelly, author of “Street Fighters: The Last 72 Hours of Bear Stearns, the Toughest Firm on Wall Street” and William D. Cohan, author of “House of Cards: A Tale of Hubris and Wretched Excess on Wall Street”

ShareThis is the new Winston Churchill biopic hitting theatres. By the way, Churchill was of American descent by way of his mother (Wikipedia says he was the first foreigner made an honorary citizen of the U.S. as well).

ShareOK, I lied.  I am forced to used that dreaded phrase – one last time.  What did a commenter just call it: “Photosynthetically capable new plant growth?”  The reason the dreaded phrase is making a comeback is due to the excellent analysis of Niels Jensen, Senior Partner over at Absolute Return Partners in London. Visit [...]

ShareYou will never hear this term again on Credit Writedowns – not from me, not from Marshall or anywhere else.  I am sick of hearing this phrase and am banning it for good – hoping it goes away and dies a gruesome and painful death.
 
And don’t get sneaky and try putting it in your comments.  [...]

ShareYou probably saw in my links that Fiat had bowed out because of German government demands. The Magna story also comes via the BBC:
Canadian car parts maker Magna International is the preferred bidder for GM Europe, owner of Opel and Vauxhall, Lord Mandelson has said.
The UK business secretary said a deal between Magna and GM [...]

ShareMarshall Auerback here with some thoughts on the UK given the recent stellar performance of Sterling.
“The Conservative belief that there is some law of nature which prevents men from being employed, that it is ‘rash’ to employ men, and that it is financially ‘sound’ to maintain a tenth of the population in idleness for an [...]

ShareIs the housing market in the U.K. bottoming?  Many pundits are talking as if it is and now we get the Nationwide data for May 2009 which shows a second rise in three months.  I am sceptical that we are at a bottom, so let’s see what the Halifax data say.
Fionnuala Earley has moved on.  [...]

Share
Anglo Irish gets aid from Dublin
4 billion euros is a lot of dosh. The Irish banking crisis is obviously not over.

Eurozone inflation at record low – BBC News
“Prices in the eurozone stopped rising in May – with the annual inflation rate at 0.0% – igniting concern that prices will fall in the months ahead.”

Japan’s industrial [...]

ShareBelow is the opening text to the U.S. government’s press release on the revised GDP numbers from the last quarter.  I have highlighted the most relevant parts in bold.  Overall, these revisions are not significant.  The main change I have seen is that inventories were not worked of as robustly in the original estimate – [...]

ShareIn five minutes we get GDP revisions.  Here is what Brown Brothers Harriman’s currency team says is happening in markets ahead of that data.  Basically, it is a resumption of the weak dollar trade with gold, oil and foreign currencies all benefitting. Let’s see how the GDP revisions change that calculus.
The US dollar is weaker [...]