<Click on chart for larger image> The Wall Street Journal – Anglo Irish Bank to Need €34.3 Billion State-owned Anglo Irish Bank Corp., Ireland’s most troubled financial institution, will need total capital of €34.3 billion ($46.75 billion) in a worst-case scenario, the Central Bank of Ireland said Thursday. The fate of the troubled bank—nationalized in… Continue reading Ireland
Zero Hedge (Blog) – Mark Pittman Wins: Fed To Disclose Emergency Lending Details By December 1 Mark Pittman’s last valiant effort to bring some transparency to the most destructive organization in the history of mankind has succeeded. According to testimony to be delivered to the House tomorrow, “under a framework established by the act, the… Continue reading On December 1 The Federal Reserve Becomes A Lot More Transparent
<Click on chart for larger image> The Wall Street Journal – Investment-Grade Bond Sales Soar Investors have snapped up more than $100 billion of investment-grade bonds so far this month, making September the busiest month for new issuance this year as highly rated companies take advantage of low interest rates to borrow cheaply. High-grade corporate… Continue reading Corporate Issuance
The New York Times – JP Morgan Suspending Foreclosures In a sign that the entire foreclosure process is coming under pressure, a second major mortgage lender said that it was suspending court cases against defaulting homeowners so it could review its legal procedures. The lender, JPMorgan Chase, said on Wednesday that it was halting 56,000… Continue reading More Foreclosure Problems
The Wall Street Journal – AIG, U.S. Agree on Terms of U.S. Exit Plan American International Group Inc. and its U.S. government overseers have agreed on a plan that paves the way for the U.S. to exit from its majority ownership of the bailed-out insurer, according to a person familiar with the matter. As part… Continue reading AIG’s Exit Plan
The Wall Street Journal – A Bank Bailout Some Won’t Exit The government’s $700 billion financial bailout officially ends Monday, costing far less than expected and having largely achieved its goal of propping up the financial sector. But some banks are having a hard time letting go. For months, financial institutions across the U.S. fought… Continue reading Who Else Is Left On The TARP Tab?
The Financial Times – As bounce-backs go it’s all relative The current US economic recovery is widely perceived as the weakest ever, syncing with the popular idea of a “new-normal” economy. Although this recovery is not as strong as those of the 1970s, on many metrics its first year anniversary has proven stronger than either… Continue reading Comparing The Current Recovery To Past Recoveries
The Financial Times – Lex: Demographics and inflation History may not be bunk, as Henry Ford claimed it was, but most predictions certainly are. The future, after all, is a closed book. But demographic forecasts are a bit more reliable. After all, most of the people who will be alive a few decades from now… Continue reading Demographics Matter
The American Thinker – Quantitative Short Squeezing The very next report was on February 24, 2009, and then there was another on March 11, 2009, but still there is no declaration by the Treasury to buy shares of BAC at $6 as Tepper claims. Even now, this elusive white paper cannot be found. But even… Continue reading A Conspiracy Theory
None Today
Charts of the Week Topics Covered This Week Include: Is China Responsible For The Divergence In FNM & FRE? Is China Responsible For The Divergence In FNM & FRE? – 2 Ireland Keeps Widening Sovereign CDS Costs Not A Matter Of Immediate Concern Comparative U.S.-German Long-Term Note Yields Revisited U.S. Equities’ Negative Correlation With The… Continue reading Untitled
Bloomberg.com – China Mortgage Bond Sales Probably Led Tumble in Foreign Holdings of Debt A record tumble in the holdings of U.S. agency debt and government-backed mortgage bonds by central banks and similar foreign investors probably reflected sales of home-loan securities by China, according to Wrightson ICAP LLC. The amount of debt, including notes that… Continue reading Are The Chinese Responsible For The Divergence In Fannie And Freddie Rates?