Image by Getty Images via Daylife Roubini, professor at NYU’s Stern School of Business and the chairman of consulting firm Roubini Global Economics, tells Bloomberg that banks are not out of the woods yet. The infamous doomsdayer of the impending mortgage crisis in 2004, is cautioning investors and economist on reveilling in the euphoria of optimist stock market rallys. Roubini cautions economic recovery heralds as he predicts more major bank failures and nationalization ahead. I am certainly … [Read more...]
Roubini Still Predicting Rough Road Ahead for Stock Market and Banks
March 26, 2009 By Leave a Comment
Obama Reviewed, China, TARP Update, Bank of England, Wal-Mart Indicator
November 6, 2008 By Leave a Comment
Obama Election Reviewed Everyone is jumping in with there review and assessment of President-elect Obama. Here is what the financial services wonks are saying: Blown Mortgage is tracking Obama's Housing Promises Henry Blodget on the Yahoo! TechTicker is noting Obama already reseting expectations Wall Street Journal is ttracking Economists reactions to Obama Paul Kedrosky says Wall Street doesn't care China Crash Debated Economist Nouriel Roubini, noted economic doomsdayer often attributed with … [Read more...]
Small Bank Bailouts, The Great Recession, JP Morgan Loan Modifications, Global ZIRP, PMI Losses, GM No Bailout Merger
November 3, 2008 By Leave a Comment
Small Bank Bailouts Financial market calamity was narrowly averted today as Farmers National Bank of Emlenton is expected to get a much needed capital injection from the US government. William Marsh, CEO led with this, "they were giving out free stuff"-type quote in the WSJ: "It seemed like the consensus in the industry was...go out and get this," said William Marsh, president and chief executive of Farmers National Bank of Emlenton, in Emlenton, Pa. Mr. Marsh said his bank is healthy and viable … [Read more...]
Mortgage Rates, Gordon Brown, New Bank Capital, and Credit Crisis in 30 Slides (or Less)
October 15, 2008 By Leave a Comment
Mortgage Rate Update: Volatile, Float UK Prime Minister Gordon Brown claims to be leading the world through the global banking crisis and it looks like he may be right, as the US and Treasury Secretary continue to take queues from UK government action. The mounting question on the US financial crisis rescue execution front is: Will banks lend or hoard new capital? Crisis of confidence #2: Recession begins new market slippage. Major US banks begin to report quarterly earnings this week. Harbors … [Read more...]
Obama, All Markets Surge, Hedge Funds Retract, Recession
October 14, 2008 By Leave a Comment
Barack Obama on the Economy President hopeful Senator Barack Obama sought to capture some of the stock market rally euphoria and lock-up control of the economic issue. Presenting a much broader economic vision, Obama promised an additional $60 billion to help state and local governments, increase jobs, let individuals dip into their retirement savings tax-free, and issue a moratorium on foreclosures. Heading in to the third and final debate, it promises to be all about the "Economy, Stupid!" Foreign … [Read more...]
Update on Troubled Asset Relief Program Implementation
October 13, 2008 By Leave a Comment
Interim Assistant Secretary for Financial Stability Neel Kashkari gave his 10 day update on implementing Congress' $700 billion Treasury-led bailout. This is the visual synopsis of his remarks: (tag cloud: wordle.net, technique hat tip: Paul Kedrosky, full text: WSJ) Kashkari higlighted a strategy "with one simple goal--to restore capital flows to the consumers and businesses that form the core of our economy." Some of the highlights of implementation ("tools") include: MBS purchase program Whole … [Read more...]