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The US dollar is lower against most currencies with the European currencies leading.  Talk of an EU rescue package for Greece on the order of 55 bln euros has contributed to the moves helping to trigger stops.  The euro briefly broke up out of the $1.3436-$1.3788 range in which the currency has been trading since [...]

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So why did we rescue this institution with a massive bailout? Elizabeth Warren, who chairs the Congressional Oversight panel of the TARP program, doesn’t understand any more than taxpayers do. This is another example of the malinvestment and zombie finance which bailouts have fostered.
Here’s a question for you: if GMAC was a U.S. auto financing [...]

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You!
 

Hat tip Prieur du Plessis.
Source
Dave Granlund, Comics.com

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I know I shouldn’t beat this dead horse but I can’t help myself. Just this past Friday, when describing Andy Xie’s hopeful tone in sensing a change of the short-sighted and ruinous mindset that was driving policy makers in the U.S., I wrote:
I am glad he is hopeful that Obama sees the folly in more [...]

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You remember those stress tests the government conducted at the largest too-big-to-fail financial institutions. They have long since been forgotten. But, they are a relevant topic of conversation because some of the policy makers’ thinking in administering them of has come to light in the Atlantic’s recent exposé of Treasury Secretary Geithner. I suggest you [...]

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European politicians have revealed that a European Monetary Fund is already in the planning phase. The reports suggest that this fund may be the mechanism through which the Eurozone will defend the sovereign debt of members and impose austerity conditions where necessary. The Europeans have – for political reasons – stressed that this fund will [...]

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When former Morgan Stanley chief Asian economist Andy Xie comments on the United States, he focuses on a bailout nation keen on perpetuating a bubble economy predicated on malinvestment and overconsumption.  In this he sees parallels with Japan and its long malaise.
Japan has experienced two decades of economic stagnation since the collapse of the infamous [...]

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One of the more surprising announcements of support for a bailout of Greece comes from none other than Theodor Waigel, the former German Finance Minister who invented the Stability and Growth Pact. While Greece was able to successfully roll over debt today, there still will come a time when they may need financial support. This [...]

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The following is a post by Marc Chandler, global head of Brown Brother Harriman’s Currency Strategy Team. For more of BBH’s currency views, visit the website here.
Greek bonds are continuing to recover from the sell-off at the end of last week that took the 10-year yield to 6.65%.  Now quoted near 6.12%, it is the [...]

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The Wall Street Journal is reporting that a plan to bail out Greece to the tune of $41 billion is now being formulated by Germany and France. It might seem as if a bailout is inevitable and that the terms of such a bailout are the only things now being negotiated between EU members. However, [...]