Federal-Reserve
Conventional Idiocy Takes Hold Again
It’s been another stellar week on Wall Street. Good news came from the housing front (prices rose for the first time in almost three years) and the labor market (the number of continuing jobless claims fell to the lowest level since the middle of April). And the profits reported by many large tech firms [...]
Investors Turn a Blind Eye to Commercial Real Estate Troubles
The Dow passes the 9,000 mark for the first time since January this week. The stock market’s big rally was fueled by optimistic Investors who are now firm in the belief that the worst financial crisis in 70 years is finally over and the recession that it spawned will soon fade away. The report of [...]
Financial Regulation’s New Drapes
Not many in this country saw the financial crisis coming. Those who did were tarred as foolish and behind the times. Millions of Americans were becoming obscenely rich just by breathing as the credit and housing bubbles grew to monstrous proportions. Why question a good thing? That seemed to be the predominant refrain of the [...]
Watch Out for the Big Bad Fed
While the Iranian theocracy cracked down on mass dissent after they rigged the latest presidential election, the Obama administration announced major plans to revamp the regulatory architecture of the financial services industry. It seems as if the developments in Iran greatly overshadowed the American public’s interest in how the financial markets will operate in the [...]
Still Heading for the Abyss
Stock markets across this troubled planet rocketed ahead late this week – mainly on Thursday – because it appears that the world’s largest economies are slowing down as they approach the abyss. But, what jubilant investors are missing is that we’re still headed for the abyss – the economic trajectory has not changed. Extremely tough [...]
Fed Buys U.S. Debt!
I believe that a disproportionate amount of media attention has focused on political squabbles inspired by the latest mega-billion dollar economic stimulus package, the continuing costs of bailing out financial institutions, and the recent show trials of A.I.G. employees. In my opinion, far too little attention is set upon the Federal Reserve, which is embarking [...]
Feds Toss More Money Down AIG Hole
American International Group (AIG) made history this week by declaring a $61.7 billion loss for the fourth quarter of 2008. That equates to $22.95 per share, compare that to a stock price of less than a buck, (it was quoted at $0.34 today) and one can see the absurdity of our nation’s current financial situation. [...]
Credit is Tight, but its NOT the Bankers’ Fault
I came across a fantastic article earlier this week in the Washington Times – who would have guessed? Like everyone else, I’m quite distressed by the current global financial disaster. I’m also confused as to how it all started, and what solutions the government and private sector should seek in order to halt the economy’s [...]
Markets Dive After Feds Shun Lehman
The Feds apparently drew the line this weekend regarding financial bailouts for dysfunctional investment banks, shunning Lehman Brothers despite its desperate pleas for help. Sleep deprived officials from the Federal Reserve and the US Treasury, along with beleaguered financial industry chieftains, were huddled in the NY Fed’s fortress-like headquarters in lower Manhattan, trying to avoid [...]
Market Meets Reality
The stock market met reality yesterday – it did not go well. Record high oil prices and a warning about inflation form the Federal Reserve smacked sobriety into U.S. investors. Oil traded at $135 a barrel and the minutes from the Fed’s late April policy meeting implied that further interest rate cuts are unlikely [...]
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