Wilbur Ross on the Banking System
He discusses borrowed reserves versus equity, and coming bank failures: >
Bove: Fed Rescue for Bear Stearns
>"The Federal Reserve’s actions today may have been strongly influenced by Bear Stearns’ problem."-Dick...
AAA Paper? 92.5% Are Not
That headline is a bit of an exaggeration. So what is the quality of the collateral willing to be accepted by the new Term Securities...
Fed Rally on Garbage Paper!
5 Day Dow Jones Industrials, 3 minute chart ~~~ Perfect timing by the Fed in their surprise, $200B lending: As we have noted recently,...
What a Difference 18 Months Make (or, Reality Bites)
JD, a long time Big Picture reader (and GP of the Gryphon Fund) writes in:> When reality is shockingly unpleasant, the market...
Rumor of the Day: Bear Goes Belly Up
While I believe Bear has lots of troubles, I am not ready to declare them a zero. Follow this course of events: First, Lehman Bros was...
NYT Fed Quote
For the first time ever, I am on the front page of Sunday New York Times (and above the fold). The really cool part is I didn’t...
FBI Investigating Countrywide
Rumour of Second Bail Out Rumour
I love these comments, coming from a pair of clever traders in the UK: Rumour of second bail out rumour coming in Ambac. Word is that...
Federal Reserve: Household Equity at all time lows
The Fed just released the Balance Sheet of Households for 2007 Q4. It shows home owners equity as a percentage of household real estate...