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October 2008 - Around The Web



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  • Fed Marks Down Bear Stearns Assets by $2.7 Billion
    Published Fri, Oct 24 2008 9:44 AM by Calculated Risk Blog
    The Fed has marked down the Bear Stearns assets from $29,526 million to $26,802 million this week. This is a mark down of $2.7 billion or 9.2%. The Fed is now underwater by a little over $2 billion plus lost interest. Today: 2. Information on Principal...
  • Greenspan finds a flaw
    Published Thu, Oct 23 2008 8:30 PM by themessthatgreenspanmade.blogspot.com
    Tomorrow's headlines will all look similar to what is now on the internet: - Bloomberg - New York Times - WSJ - Wash. Post - MarketWatch But, beyond the of partisan wrangling, the most striking aspect of today's gathering of the to discuss the...
  • Conference Calls Show Regional Banks Squeezing Homebuilders
    Published Thu, Oct 23 2008 8:29 PM by Seeking Alpha
    Construction loans are increasingly the source of non-performing assets for regional banks, and so they are taking steps to shrink their builder loan portfolios or restrict builder access to credit lines. The possibility of a highly-leveraged, large public...
  • Roubiini Foresees Possible Market Shutdown
    Published Thu, Oct 23 2008 8:28 PM by feedproxy.google.com
    After the Fed, ECB,, Bank of England, and other central banks took unprecedented measures over the last month to restore liquidity and recapitazlie banks, Nouriel Roubini sounded slightly less gloomy. He had deemed that the authorities has avoided a systemic...
  • Fannie, Freddie Have `Explicit Guarantee,' FHFA Says
    Published Thu, Oct 23 2008 8:27 PM by ml-implode.com
    "The government seizure of Fannie Mae and Freddie Mac and the U.S. Treasury's pledge of $200 billion in funding represents explicit federal support of the companies' debt and mortgage-backed securities, Federal Housing Finance Agency Director...
  • Brief questions and answers on the fiscal stimulus
    Published Thu, Oct 23 2008 8:26 PM by www.econbrowser.com
    No time to post much today, so I'll just pass along an interesting question and brief answer from the Econbrowser mail room. A reader writes: My wife and I were thinking of getting some work done on the house. I thought to myself that this would also...
  • Roubini: Panic may lead to market shutdown
    Published Thu, Oct 23 2008 8:26 PM by Calculated Risk Blog
    Click image for video. Roubini Sees Crisis Worsening, Hurting Emerging Markets (Source: Bloomberg) This is a 47 minute talk (for those with the time). Note: if clicking on the photo doesn't work, check out the Bloomberg site. From Bloomberg: Roubini...
  • ALT-A: The Coming Risk Abatement Disaster
    Published Thu, Oct 23 2008 8:26 PM by Seeking Alpha
    submits: Once again have unleashed the bullish cries of bottom by the guestimating industry cheerleaders like , the , and similarly minded government ilk who believe we can all collectively wish our way out of this mess. But the proverbial writing has...
  • Goldman Sachs said to be about to cut around 10% of its staff
    Published Thu, Oct 23 2008 10:51 AM by feeds.feedburner.com
    More pink slips are on the way at Goldman Sachs according to the Wall Street Journal; they say that the ax will fall on around 10% of its 32,500 employees. Goldman to Cut 10% of Jobs as Downsizing Wave Grows...
  • Understanding Credit Default Swaps: A Case for Regulation
    Published Thu, Oct 23 2008 10:50 AM by Seeking Alpha
    submits: Imagine a market where you can trade your perception of someone else's credit worthiness. Imagine a market where you can encash an insurance policy on an asset gone bad without owning the underlying asset itself. Imagine a market which is...
  • CDS Too Risky for CME Trading, Key Members Say
    Published Thu, Oct 23 2008 10:49 AM by feedproxy.google.com
    In theory, moving credit default swaps from over the counter trading to exchange trading should reduce systemic risk. Exchanges fail far less often than individual institutions, and when they do, the damage has less propensity to propagate into a systemic...
  • Hidden threat in “under water” mortgages
    Published Thu, Oct 23 2008 10:48 AM by feeds.feedburner.com
    A guest post from , veteran business journalist and author of the blog , a humorous look at marketing, business and his dog. Under water is the industry term for homes with negative equity – where more is owed on them than they are worth. You know the...
  • Malls Go for Broke, May Still Go Broke
    Published Thu, Oct 23 2008 10:48 AM by www.minyanville.com
    As retailers batten down the hatches for what most finally agree will be a nasty economic slowdown their landlords are scrambling to keep the lights on. The Wall Street Journal reports mall and shopping-center owners are turning to unconventional advertising...
  • Troubling Details in NYT Account of Official Response to Financial Crisis
    Published Thu, Oct 23 2008 10:48 AM by feedproxy.google.com
    The New York Times is publishing a series on the financial crisis, "The Reckoning," and today's installment is "." While this is a useful recap, there are some tidbits that merit commentary, such as: “Ben said, ‘Will you go to...
  • Low marks for Paulson, bailout
    Published Wed, Oct 22 2008 10:50 AM by rss.cnn.com
    A majority of Americans aren't happy with the way Treasury Secretary Henry Paulson is handling his job or with the financial rescue package he and Congress created, according to a poll released Wednesday.
  • Oil falls below $70 on recession fears
    Published Wed, Oct 22 2008 10:50 AM by rss.cnn.com
    Read full story for latest details.
  • Bank of Canada Cuts Rates Again - This Time, Not As Heavily
    Published Wed, Oct 22 2008 10:50 AM by Seeking Alpha
    submits: The Bank of Canada rate target was cut yesterday for the second time this month, but this time, by 25 basis points. Some analysts were anticipating a bolder 50-bp cut to match the action taken on October 8th. The new overnight target of 2.25...
  • IMF: No U.S. growth til mid-2009
    Published Wed, Oct 22 2008 10:11 AM by rss.cnn.com
    The International Monetary Fund on Wednesday issued a gloomy economic outlook for the United States and the Western Hemisphere, saying U.S. economic growth will be close to zero or even slightly negative for the rest of 2008 and the following few months...
  • Bond Report: Treasurys up as troubles spread overseas
    Published Wed, Oct 22 2008 10:10 AM by www.marketwatch.com
    Treasurys advance, pushing10-year note yields to the lowest in two weeks, as signs that a U.S. economic slowdown will infect other countries led investors to the safety of government debt.
  • McDonald's profit jumps 11%, as company remains 'optimistic'
    Published Wed, Oct 22 2008 10:09 AM by www.marketwatch.com
    NEW YORK (MarketWatch) -- McDonald's Corp. posted an 11% rise in third-quarter profit, helped by strong sales worldwide, the fast-food giant said Wednesday.
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