In speaking to CNBC today while attending the CBOE Risk Management conference, Roubini stated
…that the housing market, like a company restructuring in bankruptcy, needs to have “face value reduction of the debt.” Rather than go through mortgages one by one, he says reduction has to be “across the board…break every mortgage contract.”
The man who predicted [...]
Given the world economic mess and the probability, according to leading economists, that recovery is a year or more away, I really want a hole I can crawl into, pull the dirt in over me, and not have to think about it again.
The news coming out of the World Economic Forum (WEF) in Davos this [...]
I’ve been thinking about this issue for as long as it’s been in the news. Maybe longer – ever since Obama said he wanted help the auto makers retool as a way to create greener cars and keep jobs in this country that couldn’t be outsourced.
I have very mixed thoughts on this [...]
Yes, that’s what Warren Buffet called it on the Charlie Rose Show. Why? ‘Cause the bill will open up the credit markets to get money flowing again.
Money is the life blood of our economy. Credit is the artery through which money flows. If credit arteries are cut, money flow [...]
Billionaire owner of Berkshire Hathaway Warren Buffett in an interview with Bloomberg News today:
Billionaire Warren Buffett, the world’s preeminent stock picker, said the U.S. economy is “flat on the floor” after a cardiac arrest as companies struggle to secure funding and unemployment increases.
“In my adult lifetime I don’t think I’ve ever seen people as [...]
There is so much misinformation flying around in the blogosphere that I felt it was time to read and publish the facts. Here is a summary from the Senate of the bill:
SUMMARY OF THE “EMERGENCY ECONOMIC STABILIZATION ACT OF 2008”
I. Stabilizing the Economy
The Emergency Economic Stabilization Act of 2008 (EESA) provides up to $700 [...]
Mort Zuckerman of US News & World Report and Andrew Ross Sorkin of the NY Times, both financial writers, were on the Charlie Rose Show this evening. They offered up a different plan to the Paulson plan. They suggested the Federal Government do what Warren Buffett did with Goldman Sachs.
In a story [...]
Tom Friedman’s column in the NY Times gave me the only good laugh I’ve had today.
I was channel surfing on Monday, following the stock market’s nearly 800-point collapse, when a commentator on CNBC caught my attention. He was being asked to give advice to viewers as to what were the best positions to be in [...]
Tom DeLay explains to Chris Matthews what the House Republicans want in the bill.
It sounds to me like the same old Republican give-aways to big business.
So much for John McCain’s change!
After hearing many House Republicans say they voted no on the Stabilization Bill because they wanted to change mark-to-market evaluation rules to True Value evaluation, I decided to do a wee bit of research.
I’m not an accountant and these concepts are well above my knowledge. However, I believed that understanding those concepts [...]
