Lacker: The Fed Risks Moral Hazard
From today’s WSJ, we see this critique about the Bear Stearns Bailout from an insider: Federal Reserve Bank of Richmond Jeffrey...
TheStreet.com Goes Flash Video
Kudos to TSCM for moving to flash, rather than that crappy WMP video, they used to use. (Hey Bloomberg! How about you?) I’m told...
ISM Prices (May 2008)
As a follow up to ISM the other day, I wanted to pass along this chart, showing stagnant growth, but a big spike in prices paid: via Jake
Moody’s to Cut Ambac, MBIA AAA Rating
Looks like trouble for the monline duolines. Barring any further capital raise means a AA rating is inevitable: The world’s largest...
Dirty Tricks at Lehman?
Today’s must read commentary: naked capitalism calls shenanigans on Lehman Brothers illegal leak of an insider memo to CNBC’s...
US Agriculture Secy: Food Inflation to Hit 43%
"Internationally we’re looking at a 43% inflation rate in food this year," Ed Schafer, US secretary of Agriculture, told...
Sweetheart Deal for Rating Firms
Too little, way too late: "Under fire for the high ratings they awarded to subprime mortgage securities, three large credit rating...
Blogroll Changes
I’m committed to making the blog roll more manageable. To that end, I’ve pulled 3 blogs that are now defunct, and added one:...
Inflation, Zimbabwe Style
Via Prieur du Plessis’ website, we see that inflation in Zimbabwe remains slightly elevated (Fortunately for the Mugabe regime,...
Perception versus Value
"In the short term, the market is a ‘voting’ machine whereon countless individuals register choices that are product...