quote of the day

Nicholas Sarkozy has some sharp words about the crisis.

“It is not the responsibility of the Federal Reserve - nor would it be appropriate —  to protect lenders and investors from the consequences of their financial decisions." -Ben Bernanke, 31 Oct 2007 via David Rosenberg's…

In a 9-page Vanity Fair article “Wall Street’s Near-Death Experience,”giving us a sneak peek into the lives of bankers during the global meltdown last Autumn a hilarious quote of great significance was buried. At issue was the near-death…

Politico asked a bunch of pundits from across the political spectrum to size up U.S. Treasury Secretary Tim Geithner's performance in explaining his plan for rescuing the U.S. banking system. They were asked, "Did Tim Geithner blow it? What…

This comes from Chapter VIII of Galbraith's classic volume, "The Great Crash 1929." Given the recent announcement of fraud at Satyam in India and the monstrous Madoff scandal, it is a quote and concept to remember.

With the global economy n recession and inflation headed toward zero, government bonds are looking like the best place to put ones money. As a result, we have seen yields on these assets drop to incredibly low levels in the world's largest…

With Treasury securities at all time lows you get the feeling fundamentals is not the only thing driving the rally in U.S. government bonds. After all, the Fed has been lowering interest rates and showering the financial sector with money.…

Jim Chanos, the famous hedge fund guru and short-seller does not think stocks are going to be up for long.  He sees the recent rally on the back of promised government stimulus as temporary and expects markets to resume their downward…

Caroline Baum had a good column today at Bloomberg in which she suggests central banks consider asset prices in monetary policy going forward. In the piece she quoted William White, a former economist from the Bank for International…