What should we take away from the Countrywide/Bank of America deal?First, its obviously good for market liquidity that Countrywide won’t wind up in bankruptcy. While I think the economy could have handled a Countrywide liquidation, it would have been painful and messy. I’m sure Ben Bernanke is happy about this turn of events. Notice that Fannie Mae and Freddie Mac stock were both up solidly today….
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Next meeting : the odds of a 75 bp cut to 3.50% rose sharply today to 43.9%
Via Cleveland Fed : Fed Funds Rate Predictions…
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Mixed results for regional markets.…
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Painful lessons to be learnt for CDSs
The sad, sad story of “Structured Credit Company” a venture that decided to get into selling protection (Credit default swaps) right at the top of the credit bubble.
‘Shipwrecks and casualties’ warning for credit markets…
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BofA to get Countrywide on the cheap: 0.1822 BAC shares approx $7.00
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Investors may be able to generate substantial abnormal returns by combining the effects of earnings and accruals surprises, qualified by overall firm operating performance….
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By Vipin Agnihotri In terms of statistic, Rediff has 59.8 million registered users. What’s more, it also leads in page views. In the last quarter, revenue of Rediff grew 18 per cent but still all is not well at the India’s best-known Internet Company, Rediff.com. …
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Author Richard Bookstaber says you can’t fight complexity with even more complexity. What is needed, he says, is a “flight to simplicity”. Do they have business class on that plane?…
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