Credit Market OverviewMay 15, 2009
. . . Slowly they turned, step by step, inch by inch. . .
No, it’s not an episode of I Love Lucy or The Three Stooges; it’s the banks and in another step towards normalcy(?) J.P. Morgan and American Express issued debt yesterday that was NOT backed by the FDIC. … »
Credit Market Overview
May 14, 2009
Away from the much publicized bankruptcy of Chrysler and, shall we say, imminent entering of Chapter 11 by GM there is an interesting story going on in the REIT world with General Growth Properties.
What used to trade under the symbol GGP has now added that moniker reserved only for those that… »
Credit Market OverviewMay 13, 2009
In bubble history, our current dilemma is being blamed on leverage. It is leverage in the traditional sense as it involves owning things without paying for them completely, up front and in cash. The banks and (ex) investment banks have been vilified for anteing up just over 3 cents… »
Credit Market OverviewMay 11, 2009
With the release of the “Stress Test” results last Thursday Treasury Secretary Timothy Geithner said that he was “reasonably confident” that the information would “make it easier for banks to raise new equity from private sources” while admitting that “we have a lot of work to do in repairing the financial… »
Credit Market OverviewMay 11, 2009
. . . Was your trip successful Mr. Holmes? The usual, Watson, murder, robbery; crime must pay as there hasn’t been any slow down in it that I can see.
Haven’t read a paper all week better catch up on the news. Hand me my glasses please Watson. Thank… »
Credit Market OverviewMay 8, 2009
The free marketers . . . yes, I know it Friday morning but I said “free marketeers” not “three musketeers” have been clamoring lo’ this entire crisis of credit, confidence and confusion to let the forces of supply and demand do what they do so well and allow evolution sort… »
Credit Market OverviewMay 7, 2009
The Oracle of Omaha said in his Op/ed piece in the NY Times last October that “a simple rule dictates my buying: Be fearful when others are greedy, and be greedy when others are fearful”. Fittingly WB wrote that in the middle of a month that has some of the… »
Credit Market OverviewMay 6, 2009
Ever since Bear Stearns was medivac’d to the intensely expansive care unit at J.P. Morgan the markets have had to contend with processing not only the abnormal changes brought on by a global financial system moving quickly from Code Blue to Code Black (the latter being a D.O.A. without the O.A.)… »
Credit Market OverviewMay 5, 2009
We’ve all heard the market adage that a bull market climbs a wall of worry. I’m thinking they should change that last word to “wonder” as the move off of the March lows has been spectacular to say the least and if you can believe the media (rhetorical question) one… »
Credit Market OverviewMay 4, 2009
The precipitous drop in real estate values, both residential and commercial is a pretty good indicator of just how much fluff the easy credit in the first part of this decade created. Confirmation of this, as if some were needed, can also be found in the art market. … »
