June 2009

Unfortunately I was out this weekend and did not post the 5 bank seizures by the FDIC on Friday.  They are below in the links. China's banks are an accident waiting to happen to every one of us - Ambrose Pritchard-Evans, Telegraph…

Bank of NY Mellon sees writedowns, 2009 profit: report - Reuters This is what I expect many banks to be saying later this quarter. Is Obama Edging Towards Bush-Like Indefinite Detention? - Michael Scherer, Swampland…

It seems like a long time off, but the Fed is going to eventually have to withdraw all of the excess liquidity it has created when the economy recovers.  However, doing so will prove tricky.  First, we have debt deflationary…

Here’s another $25 billion giveaway to AIG.  Notice that AIG gets the upside over $25 billion. Does this ever stop?  Bloomberg reports. American International Group Inc., the insurer bailed out by the U.S. government, agreed…

I am re-posting this February article because it is clear that many of the policy dilemmas Barack Obama is now facing on the economy were wholly predictable. In this post and another from January, I argued that it was better to have zero…

'Stoned wallabies make crop circles' - BBC News "Australian wallabies are eating opium poppies and creating crop circles as they hop around "as high as a kite", a government official has said." Is an Ugly…

Love him or hate him, Michael Jackson was an extraordinary performer. His death is as shocking as Elvis’ 32 years ago. Rest in peace. Here are some videos I got via Mashable. Tragically, Farrah Fawcett has also died. Rest in peace.

In case you missed it, Federal Reserve Chairman Ben Bernanke was on Capitol Hill this morning making his caseregarding the Bank of America – Merrill Lynch deal.  The Chairman stated in unequivocal terms that he did not pressure…

Here’s a conspiracy theory for you.  As I am not much of a conspiracy theorist, I ill keep this one pretty simple. Here’s the chain of events. Back in late September when the world was falling apart, Ben Bernanke, Tim Geithner and Hank…

What I was afraid of - Paul Krugman As I also predicted, Obama's stimulus package is now looking inadequate. Volcker Gets Less Than He Wants in Curbing Wall Street Excesses - Bloomberg The title says everything, doesn't…