Monthly Archives: November 2008

November 30, 2008

• Coinage of the Evening
  by Yves Smith 10:33 pm

• Credit Card Crunch Casualty: Small Businesses
  by Yves Smith 9:02 pm

• Has OPEC Lost its Mojo?
  by Yves Smith 12:17 pm

• Links 11/30/08
  by Yves Smith 1:47 am

• The Reserve Bank of Zimbabwe Commends US and UK Authorities for Following Its Lead
  by Yves Smith 1:30 am

November 28, 2008

• Mirabile Dictu! Rubin Takedown by the Wall Street Journal!
  by Yves Smith 10:25 pm

• Some Anomalies
  by Yves Smith 9:02 pm

• Nigeria Says It Will Defy Production Cuts if OPEC Cheating Continues
  by Yves Smith 6:24 pm

• Short Interest Down on Financials and Auto Companies
  by Yves Smith 2:50 pm

• Wal-Mart Worker Trampled to Death in Black Friday Surge
  by Yves Smith 11:15 am

• Links 11/29/08
  by Yves Smith 1:09 am

• Links and Quick Takes 11/28/08
  by Yves Smith 12:42 am

November 27, 2008

• Links 11/27/08
  by Yves Smith 3:48 am

• AIG Plans to Pay Retention Bonuses to Executives
  by Yves Smith 2:35 am

• China’s Economic Slowdown Accelerated in November
  by Yves Smith 12:47 am

November 26, 2008

• Gentrifying Gitmo
  by Cassandra 3:41 pm

• Links 11/26/08
  by Yves Smith 3:20 am

• Why Should We Be Surprised? (Treasury Conduct Edition)
  by Yves Smith 2:33 am

• Kiss Those Dividends Goodbye
  by Yves Smith 2:06 am

• Chinese Heavy Industry Slowing Down
  by Yves Smith 12:55 am

November 25, 2008

• "The western financial system we knew has collapsed"
  by Yves Smith 11:17 pm

• Lehman Collateral Damage Continues
  by Yves Smith 7:05 pm

• FDIC: Problem Banks Increase By 46%
  by Yves Smith 1:48 pm

• FDIC: "Problem Banks" Reach 13 Year High
  by Yves Smith 1:48 pm

• Federal Reserve, Treasury Announce $800 Billion Plan to Support Consumer Lending
  by Yves Smith 10:06 am

• Links 11/25/08
  by Yves Smith 3:45 am

• Chris Whalen Looks at Geithner’s Record and Finds it Sorely Wanting
  by Yves Smith 3:24 am

• Fed and Treasury Want You to Have a Nice Christmas
  by Yves Smith 2:35 am

• Could Natural Gas Go to $4/MMBtu?
  by Yves Smith 1:46 am

• Will the Federal Government Provide Bankruptcy Financing?
  by Yves Smith 1:34 am

November 24, 2008

• Government Lending Support Pledges and Measures At $7.4 Trillion
  by Yves Smith 2:18 pm

• Links 11/24/08
  by Yves Smith 3:50 am

• On the Fed’s Shift to Quantitative Easing
  by Yves Smith 2:45 am

• US Trying to Combat Treasury Repo Fails, May Lead to Negative Rates
  by Yves Smith 1:44 am

• WSJ: US Agrees to Bail Out Citi (Updated)
  by Yves Smith 12:15 am

• Finance Has Lost Sight of Its Role
  by Yves Smith 12:02 am

November 23, 2008

• Citi in Talks With US to Create "Bad Bank"; CNBC Now Reports That Gov’t is Cool
  by Yves Smith 7:03 pm

• Meredith Whitney Says Citi is a Goner; BBC Says Citi "Seeking ‘Emergency Cash’"
  by Yves Smith 4:14 pm

• Links 11/23/08
  by Yves Smith 3:08 am

• Cheery Chart: No Corporate Profits for Two Years During Depression
  by Yves Smith 1:17 am

• New York Times: Citi Woes Due to Lousy Risk Controls, Plus Prince’s and Rubin’s Strategy
  by Yves Smith 12:37 am

November 22, 2008

• Summers to Head National Economic Counsel
  by Yves Smith 7:38 pm

• Links 11/22/08
  by Yves Smith 3:44 am

• China’s Smoot Hawley?
  by Yves Smith 3:08 am

• "Bankruptcy Puts" on Merrill
  by Yves Smith 1:24 am

• Citi Rescue Talks Underway
  by Yves Smith 12:05 am

November 21, 2008

• Geithner to Become Treasury Secretary
  by Yves Smith 3:23 pm

• Oil Companies Storing Oil on Tankers, Waiting for Higher Prices
  by Yves Smith 2:37 pm

• The Ill-Considered Problem of a GM Bankruptcy
  by Yves Smith 8:31 am

• Links 11/21/08
  by Yves Smith 3:19 am

• Asia Having a Decent Day, For a Change
  by Yves Smith 2:46 am

• "China fears grow over job losses"
  by Yves Smith 12:41 am

November 20, 2008

• Goldman Recants Its $200 a Barrel, "Super Spike" Call for Oil
  by Yves Smith 11:30 pm

• Citi Considers Selling Itself, in Whole or In Parts (And is Barking Up Wrong Tree re Shorts)
  by Yves Smith 10:34 pm

• Hedge Funds Investors Withdraw Record $40 Billion in October
  by Yves Smith 7:15 pm

• Even Shoeshine Business is Off in New York
  by Yves Smith 6:28 pm

• Credit Defaults Swaps Peg Corporate Bond Risk at Record Levels
  by Yves Smith 2:38 pm

• Links 11/20/08
  by Yves Smith 2:02 am

• Another Bad Day Opens in Asia
  by Yves Smith 1:54 am

• JP Morgan Predicts That Fed Will Cut Fed Fund Rates to Zero by January
  by Yves Smith 12:25 am

November 19, 2008

• Junk Bond Yields Up Sharply
  by Yves Smith 10:25 pm

• Links 11/19/08
  by Yves Smith 4:04 am

• Japanese Float Idea of the Treasury Selling Yen-Denominated Debt
  by Yves Smith 2:45 am

• "Taiwan to hand out shopping coupons to boost economy: PM"
  by Yves Smith 1:35 am

• Hedge Funds Got Shellacked Again in October
  by Yves Smith 12:59 am

• Unsold Goods Piling Up at Long Beach
  by Yves Smith 12:04 am

• Big Producers Demand Big Share of Shrunken Bonus Pie
  by Yves Smith 12:02 am

November 18, 2008

• Links 11/18/08
  by Yves Smith 2:02 am

• More to the Mark Cuban Insider Trading Indictment Than Meets the Eye?
  by Yves Smith 1:23 am

• Senator Grassley Targets Goldman-Treasury Conflicts, Net Operating Loss Gimmie
  by Yves Smith 12:12 am

• UBS Revamping Bonus Plan, Will Try to Claw Back Previous Payments
  by Yves Smith 12:04 am

November 17, 2008

• Goldman Accused of Naked Short Selling of Leveraged Loans
  by Yves Smith 11:42 am

• Links 11/17/08
  by Yves Smith 4:33 am

• Cotton Exports Fall Sharply
  by Yves Smith 4:25 am

• GM Tells Us Why They Need to Be Saved, on YouTube
  by Yves Smith 2:29 am

November 16, 2008

• Links 11/16/08
  by Yves Smith 2:19 am

• Roubini’s Latest "Why Things Are Hopeless" List Hits New Record, 20 Items!
  by Yves Smith 2:13 am

• The Fruits of ZIRP: Japanese Elderly Steal to Make Ends Meet
  by Yves Smith 12:06 am

November 15, 2008

• Links 11/15/08
  by Yves Smith 3:05 am

• Yet More Trade Finance Worries (Not for the Fainthearted)
  by Yves Smith 2:25 am

• Mirabile Dictu! Congress is Mad at Paulson for Lying!
  by Yves Smith 1:30 am

• Credit Crisis Fallout: Investors Leery of Buying Government Debt As Calendar Grows
  by Yves Smith 12:17 am

November 14, 2008

• Retail Sales Down 2.8% in October
  by Yves Smith 8:48 am

• More CDO Defaults in the Offing
  by Yves Smith 3:39 am

• Links 11/14/08
  by Yves Smith 3:04 am

• Eleven Step Financial Reform Proposal
  by Yves Smith 1:31 am

November 13, 2008

• Factory Closings and Unrest in China
  by Yves Smith 11:42 pm

• Banks Say Plan to Guarantee Their Debt is Flawed, Ask For a Better Deal
  by Yves Smith 3:46 pm

• "The High Priests of the Bubble Economy"
  by Yves Smith 9:55 am

• Links 11/13/08
  by Yves Smith 4:13 am

• Is the Switch of the TARP Away From Troubled Assets Going to Create More Hedge Fund Forced Sales?
  by Yves Smith 2:53 am

• The Missed Issue in GM Bailout Versus Bankruptcy Debate
  by Yves Smith 2:22 am

• Bush and Obama Diss the G20 Financial Summit
  by Yves Smith 1:15 am

• "Financial System May Need $1 Trillion"
  by Yves Smith 12:18 am

November 12, 2008

• Another Bad Day Dawns in Asia
  by Yves Smith 11:31 pm

• Paulson Now Admits Mendacity
  by Yves Smith 6:11 pm

• Big Investors Call for Action on Climate Change
  by Yves Smith 5:19 pm

• Links 11/12/08
  by Yves Smith 3:54 am

• "The first casualty of the crisis: Iceland"
  by Yves Smith 3:51 am

• Asset Allocation Rules May Lead Institutional Investors to Reduce Real Estate Holdings
  by Yves Smith 2:32 am

• Even Lawyers Have It Bad
  by Yves Smith 1:46 am

• "Goldman big winner in government’s revised bailout of AIG"
  by Yves Smith 12:19 am

November 11, 2008

• Jim Rogers Down on Advanced Economy Stocks, Even More So on Bonds
  by Yves Smith 9:21 pm

• Oil Falls to 18 Month Low, IEA Demand Forecast Cut Expected
  by Yves Smith 1:05 pm

• Links 11/11/08
  by Yves Smith 3:48 am

• "Fannie: Going Concern, but I am Getting Concerned"
  by Yves Smith 2:46 am

• Where’s My Bailout? The Feeding Trough May Not Be Bottomless, After All
  by Yves Smith 1:33 am

November 10, 2008

• Does Everybody Get To Be a Bank? Now Amex Joins the Club
  by Yves Smith 7:23 pm

• Fed Reverses Self on Promises of Transparency, Continues to Stonewall on Collateral, Lending Disclosure
  by Yves Smith 5:38 am

• Links 11/10/08
  by Yves Smith 4:14 am

• Some False Hope on the Deflation Front
  by Yves Smith 4:00 am

• AIG: The Looting Continues (Banana Republic Watch)
  by Yves Smith 12:15 am

November 9, 2008

• Shipowners Starting to Cancel Orders
  by Yves Smith 3:52 pm

• China Announced $586 Billion Stimulus Plan
  by Yves Smith 3:38 pm

• The Obama Game: Advice and Speculation
  by Yves Smith 4:00 am

• Links 11/09/08
  by Yves Smith 3:29 am

• "Banks defy Gordon Brown over new interest rate cut"
  by Yves Smith 1:48 am

November 8, 2008

• The Black Hole Gets Bigger: AIG Back for Yet Another Bailout
  by Yves Smith 3:28 am

• Links 11/8/08
  by Yves Smith 3:15 am

• Trade Woes Continue, Tight Credit a Major Culprit
  by Yves Smith 1:20 am

• "China may be heading for a severe economic slowdown"
  by Yves Smith 12:14 am

November 7, 2008

• Fed Stonewalling on Giving Details About Collateral Accepted for Loans
  by Yves Smith 2:29 pm

• China’s Xie Runs Home to Fix Economy
  by Yves Smith 8:58 am

• LInks 11/7/08
  by Yves Smith 6:21 am

• Credit Crunch May Produce Another Food Crisis in 2009
  by Yves Smith 5:41 am

• Hedgies Still Blowing Up the Markets, Oh My!
  by Yves Smith 5:16 am

• Now It’s Official: That Cheery DTCC Data on Credit Default Swaps is Mighty Incomplete
  by Yves Smith 4:17 am

• Has UBS Ruined Switzerland’s Standing as a Financial Haven?
  by Yves Smith 2:35 am

• China Likely to Stop Diesel Imports for Second Month
  by Yves Smith 1:00 am

• "Retailers Report a Sales Collapse"
  by Yves Smith 12:41 am

November 6, 2008

• "Mr. Yen" Advocates Much Stronger Yen
  by Yves Smith 11:36 pm

• Links 11/6/08
  by Yves Smith 5:26 am

• Brad Setser Begs to Differ With Nouriel Roubini on China
  by Yves Smith 3:41 am

• Earnings Forecasts Being Slashed
  by Yves Smith 1:21 am

• Recession Trumping Brand Loyalty
  by Yves Smith 1:09 am

November 5, 2008

• Is Wall Street Pay Falling Far Enough?
  by Yves Smith 11:27 pm

• Roubini Foresees Chinese Hard Landing
  by Yves Smith 8:51 am

• Improvement in Libor Overstates Credit Market Recovery
  by Yves Smith 5:58 am

• Links 11/5/08
  by Yves Smith 4:14 am

• " Credit Swaps Top $33 Trillion, Depository Trust Says"
  by Yves Smith 3:36 am

• Edmund Phelps Raises Doubts About Keynesian Remedies
  by Yves Smith 2:21 am

• Small Business Administration Loans Suddenly Scarce
  by Yves Smith 1:27 am

• More Manhattan Real Estate Woes: Commercial Tenants Flee to Brooklyn
  by Yves Smith 1:01 am

November 4, 2008

• Links 11/4/08
  by Yves Smith 5:59 am

• Derivative Bets Gone Bad May Worsen Shipping Industry Woes
  by Yves Smith 2:26 am

• New York Commercial Real Estate Transactions Fall 61%
  by Yves Smith 1:53 am

• Fed Hires Bear Stearns Risk Chief…To Supervise Bank Soundness
  by Yves Smith 1:05 am

• Credit Suisse Cuts Forecast for Oil Prices Based on Weak Outlook for China
  by Yves Smith 12:37 am

• Is "Retail Therapy" Ending in America?
  by Yves Smith 12:18 am

November 3, 2008

• China Faces Liquidity Crunch
  by Yves Smith 5:08 pm

• Links 11/3/08
  by Yves Smith 2:51 am

• Another Sign of Consumer Stress: Late Utility Payments Rising
  by Yves Smith 1:15 am

• Surprisingly Superficial New York Times Article on Troubled Private Equity Deals
  by Yves Smith 12:40 am

November 2, 2008

• Trade, Letter of Credit Woes Finally Go Mainstream
  by Yves Smith 9:24 pm

• "Goldman Sachs ready to hand out £7bn salary and bonus package… after its £6bn bail-out"
  by Yves Smith 7:06 pm

• Links 11/2/08
  by Yves Smith 5:16 am

• CDS Pricing in Increasing Treasury Default Risk
  by Yves Smith 3:40 am

• Tightening Credit May Reduce Big Retailers’ Christmas Sales by 8%
  by Yves Smith 3:20 am

• More Grim News on the Trade Front
  by Yves Smith 3:09 am

November 1, 2008

• Mark Hulbert Advocates Cash for the Faint-Hearted in Choppy Markets, And Assumes You Can See Them Coming
  by Yves Smith 11:01 pm

• On JP Morgan’s "Mass Mods" for Residential Mortgages
  by Yves Smith 3:19 am

• Links 11/1/08
  by Yves Smith 12:16 am