Archive for the Economy Category

Bank Failures

Reading articles like the one below about possible bank failures makes me want to take out what little money I have left in the US and hide it under the mattress. Of course, I know that’s not the sensible thing to do since the funds are guaranteed by the FDIC. Either way, I just which that banks would own up to their exposure with this credit crisis. Having the news dibble out is only making the situation worse. Times, August 19, 2008 Credit crunch may take out large US bank warns former IMF chief The deepening toll from the global […]

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Full Disclosure Required

EU Internal Market Commissioner Charlie McCreevy offers sensible advice below regarding what is needed to move beyond the current financial meltdown. However as we are all painfully aware, banks have been slow to come clean about their exposure. Hopefully that will all change in the near future. Banks must come clean, says EU commissioner David Gow in Brussels Wednesday April 16 2008 The only way to restore confidence in global financial markets is for banks to come completely clean about their exposures, Charlie McCreevy, EU internal market commissioner, said today. McCreevy told “There’s no commercial paper market in […]

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State of US Economy

At least one economist out there still thinks that the US economy is not headed for a recession. I want to believe him, but based on the continued barrage of negative news, something tells me he is out of his depth. As for the tax rebate mentioned in the article, well I recently got a letter from the IRS indicating that I’ll find out in May if I’m entitled to the payment. I’m assuming every taxpayer from last year got this same letter. What a complete waste! Recession unlikely if US economy gets through next two crucial months From The […]

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Collateralized Debt Obligations

Even the smart people don’t fully understand what the heck is going on with the market. Economic Scene Can’t Grasp Credit Crisis? Join the Club By DAVID LEONHARDT, The New York Times, Published: March 19, 2008 Raise your hand if you don’t quite understand this whole financial crisis. It has been going on for seven months now, and many people probably feel as if they should understand it. But they don’t, not really. The part about the housing crash seems simple enough. With banks whispering sweet encouragement, people bought homes they couldn’t afford, and now they are falling behind on […]

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Financial Jargon Buster

With the financial markets in turmoil, business news is on the front pages, not just in the business section of newspapers. Furthermore, financial terms are being bandied around and it can be a bit difficult at times to follow the story without fully understanding the products and services provided by all these market makers (ie. commercial banks, investment banks, hedge funds, etc.). Thus, for those of you in London, a good book to read is, All you need to know about the city: Who does what and why in London’s financial markets by Christopher Stoakes. I wouldn’t say that it […]

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