Don't forget to give thanks for every single blessing you have, focus on them and I'll see you at the top - Zig Ziglar
10 minutes ago
Finance & Markets Channel: Latest Posts
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Finance & Markets
Fundamental Analysts Belated Downgrades
`One of the strange aspects of running a quant shop is watching some of the fundie guys downgrade previously beloved names long after they have been spanked. Let’s cherry pick a few charts and work our way through them. -
Finance & Markets
What makes fiscal policy (more) effective?
With the world sliding into a global recession, policymakers around the world appear to have fully embraced the traditional notion of stabilization via fiscal expansions. Sizeable resort to fiscal policy seems justified because of the main features of this recession, namely, its expected severity, and the emergence of widespread credit constraints, which makes the transmission of monetary policy weaker and more uncertain. Simultaneously, the global nature of the crisis and the fact that most economies have become quite open to trade strongly argue for coordinated fiscal expansion.
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Finance & Markets
Corporate Bonds
The corporate bond market had experienced a renaissance or revival of sorts over the last several weeks. The implosion in the CMBS market as well as the persistent weakness in the equity market has drained that sanguine attitude and substituted the melancholic mindset which had prevailed previously.Participants report that there is very little trading. Bid to offer spreads have widened and the little which does trade trades into the bid side.
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Finance & Markets
Cut Interest Rates Again
The recent massive sell-off in global stock markets, despite an earlier coordinated half-point interest rate reduction in the U.S. and Europe, reflects the continuing failure of policy to come to grips with the scale of the problem. Policy has been consistently marked by “Too little, too late” – and in some instances there have been outright blunders, as in the U.S. Treasury’s decision to let Lehman Brothers fail.
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Finance & Markets
Phil Gramm: A Deregulator Unswayed
“Some people look at subprime lending and see evil. I look at subprime lending and I see the American dream in action. My mother lived it as a result of a finance company making a mortgage loan that a bank would not make.” -former United States senator Phil Gramm
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Dan Alpert's Two Cents
Mandatory Mortgage Modifications and the U.S. Constitution
Highlights
- The Bush administration’s failure to articulate or enact a comprehensive solution to the enormous debt overhang homeowners face is rooted not only in free-market ideology, but also in fundamental constitutional law and case history dating back to the Great Depression.
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Finance & Markets
Everything You Need to Know About the G20 Statement in One Word
Well, that was exciting. -
The Wilder View
G20 Summit: Low expectations fulfilled
To be sure, there have been “global recessions.” The Organisation for Economic Co-Operation and Development (OECD) seven major countries – Canada, France, Germany, Italy, Japan, United Kingdom, and the United States – have jointly seen negative growth since the fourth quarter of 2007.
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Finance & Markets
The Perils of Efficiency
James Surowiecki: -
Finance & Markets
A Housing Fix with the Right Incentives
The FDIC proposal is a constructive and important plan to encourage reworked mortgages while attempting to limit taxpayer exposure, but it does appear to have a few drawbacks.
