Lee on Nov 06 2008 | Filed under: Economics
The winners of the global financial turmoil look to be three American ’superbanks’: JP Morgan Chase, Bank of America and Wells Fargo. The institutions have all grown to occupy such a predominant position in the marketplace, that all three recently surpassed the Federal cap intended to prevent any one institution from controlling more than 10% [...]
Lance on Sep 29 2008 | Filed under: Investing, Lance's Page
If they did, then they wouldn’t have banned short selling. People may have noticed that the ban hasn’t helped, and today we see one of the real costs.
See, when markets collapse like today, short sellers dive into the market to cover their short positions, in these times they are often the only ones buying. [...]
Lance on Sep 18 2008 | Filed under: Domestic Politics, Economics, Investing, Lance's Page
The hedge fund industry is feeling gloomy, and so is Mayfair.
Meanwhile our government is considering following London’s lead and making their lives even more difficult, by banning short selling for a while. Yep, Fannie would have been just fine with mismatched liabilities, toxic assets and corrupt accounting mixed in with 40-1 leverage if nobody had [...]
MikeR on Sep 12 2008 | Filed under: Around the Web, MikeR's Page
neatorama“We live in a capitalist society,” she tells us. “Why shouldn’t I be
allowed to capitalize on my virginity?” Is this a hoax or just free markets?
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Lee on Sep 09 2008 | Filed under: Domestic Politics, Economics, Lee's Page
(photo: Ian Murchison | website)
The nationalization of Fannie & Freddie is often presented as a crisis of faith for the political right, due to its manifest incompatibility with the advertised belief in the “free market.” However, Sunder Katwala at NextLeft cleverly recognizes that it also presents a challenge to orthodoxy on the left, given that [...]
Lee on Sep 02 2008 | Filed under: Foreign affairs, Lee's Page, Media
The IMF has come through for Georgia in an enormous way, approving a $750 million credit line for the beleaguered republic. Beyond the much needed aid, it’s a powerful political reminder for Russia of the gargantuan economic advantage the West maintains.
But in that article notice the black banner in the feature photograph. It’s a promotional [...]
MikeR on Aug 17 2008 | Filed under: Around the Web
Astute Bloggers
Let’s see if this pans out. It would be a big lift for McCain. I wonder if InTrade will react?
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Lee on Aug 11 2008 | Filed under: Around the Web
Russia suddenly has an investor confidence problem. Can’t imagine why.
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Lee on Jul 30 2008 | Filed under: Foreign affairs, Lee's Page, Uncategorized
(photo: Charles Roffey - Charles & Fred)
Someone once said that in Damascus you truly can get a little bit pregnant. It’s a good aphorism, because if you asked the foreign minister of almost any state in the Middle East or the Mediterranean what his government’s policy relationship was with Syria, he would automatically furrow his [...]
Lance on Apr 07 2008 | Filed under: Economics, Investing, Lance's Page
Personally I think we have been negative since November. Given the large positive number in the third quarter, the barely above break even number in the fourth quarter virtually guarantees that the economy went negative sometime in November and December. However, if we are not, it is highly likely coming. Here is a graphic which [...]
Lee on Jan 30 2008 | Filed under: Around the Web
Horrible audio and video quality, but here’s Joey Ramone performing Maria Bartiromo live. Joey would be dead six months later, but the financial industry and markets he celebrated and loved live forever. You can download a high quality version of this classic track here for ninety-nine cents.
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Lance on Jan 22 2008 | Filed under: Investing, Lance's Page
From the New York Times:
Heavy selling hit each Asian and European stock market as soon as it opened. Some of Asia’s easternmost exchanges, which had closed on Monday before the sharpest declines occurred in India and then Europe, suffered particularly steep drops.
The Japanese stock market dropped 5.7 percent, for the worst two-day loss in [...]
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