Credit Writedowns

John Hussman’s latest weekly contribution contends that the market is now extremely overvalued, to the point where long-term returns will likely be low. As of last week, the S&P 500 nearly matched the richest valuations, on…

If you asked me this question last year, I would have said yes but not it’s not as bad as Ireland or the U.S. However, the Canadian economy and Canadian banks have weathered the storm brilliantly. So most people think the answer is now no.…

There has been quite a lot of hub-bub today about President Obama’s fat cat remarks and his meeting with bankers exhorting them to lend. Let me tie these events in with a few other themes into a comprehensive picture of what is happening in…

Wells Fargo has announced it is to repay $25 billion in funds it received from government under the Troubled Asset Relief Program. This makes Wells the last of the big banks to repay its TARP funds.  In announcing the decision, the…

Obama Gives Himself a B-Plus -- Political Wire British Airways Cabin Crew to Stage Christmas Strike - Bloomberg.com Paul Krugman - Disaster and Denial - NYTimes.com (On deregulation and the inability to use facts to sway…

Last night on CBS’ 60 Minutes, President Obama attacked Wall Street as “fat cats,” saying he was not elected merely for their sake. Obviously, the President is now keenly aware of how his political capital is being lost due to the bailout…

There will be no Dubai sovereign default. The government of oil-rich Abu Dhabi surprised investors this morning in announcing a $10 billion rescue package to pay for upcoming obligations of embattled Dubai World. Below Richard…

Citigroup has confirmed it will repay $20 billion of the bailout money it has received from government, becoming the latest big bank to exit the TARP (troubled asset relief program). To prevent capital ratios from dipping, the company will…

Thoughts on the Late Paul Samuelson, Arnold Kling | EconLog Bruce Krasting: Cocktails and RE in Greenwich America is angry, but Wall Street's bankers are still living the high life |Business |The Observer Too Big to Fail:…

Obama calls his Afghanistan troop decision toughest yet -- latimes.com iPhone users are delusional, consultants say | Technically Incorrect - CNET News Event Planning Online: 14 Essential Social Media Tools Scientists crack…