Here We Go Again

The Senate will vote later today on a revised bailout plan.

Senate Majority Leader Harry M. Reid (D-Nev.) called the Senate’s revised legislation “the best thing to move forward.” Reid was joined on the floor by Senate Minority Leader Mitch McConnell (R-Ky.), who said the plan was “one of the finer moments in the Senate.”

A…
Original Source: www.crossingwallstreet.com

  30 Septiembre, 2008| Economy | Comments (0) @ 23:39

Extra Credit, Tuesday Edition

Why Main Street should support this rescue: A good, clear explanation.
Where Will the Money Come From? DeLong explains why a bailout won’t need outside funds.
Congresswomen Explain "Nay" Vote:…
Original Source: www.portfolio.com

  30 Septiembre, 2008| Economy | Comments (0) @ 22:14

Princeton: Crisis on Wall Street Panel Discussion

I saw this over the weekend, and thought it was pretty good.

Princeton economists review recent events on Wall Street and assess the implications for the economy and public policy.

Panelists:

- Hyun Shin, Professor of Economics and associate chair of the Department of Economics;- Markus Brunnermeier, Professor of Economics;- Harrison Hong, Professor in Finance;- Paul Krugman, professor of economics and international affairs; -…
Original Source: feedproxy.google.com

  30 Septiembre, 2008| Economy | Comments (0) @ 22:00

Euro Zone: Unemployment Rate

NA…
Original Source: http://feeds.feedburner.com/DismalcomIndicatorsEurope

  30 Septiembre, 2008| Economy | Comments (0) @ 22:00

Stiglitz on Worst Case Scenario

Economist Joseph Stiglitz says everyone would be hurt if nothing is done

&…
Original Source: feedproxy.google.com

  30 Septiembre, 2008| Economy | Comments (0) @ 21:30

When your head hurts, hit it some more

One dreads pointing out the exceptionally obvious to the US Senate, but expanding deposit insurance takes us in the opposite direction of where we need to be. It will encourage riskier loans, promote moral hazard, give depositors a false sense of security, and add to the overall debt problem. Oy vey. See Rothbard on the whole notion of “deposit insurance.”…
Original Source: blog.mises.org

  30 Septiembre, 2008| Economy | Comments (0) @ 21:03

Market Wrap: Asia Climbs Back

The markets which where open in the region almost looked like a field of green; all but the KOSPI climbed back from Tuesday?s sharp drop….
Original Source: http://feeds.feedburner.com/DismalcomAnalysisAsia

  30 Septiembre, 2008| Economy | Comments (0) @ 20:30

United Kingdom: Moody’s Economy.com Debt Service Ratio

NA…
Original Source: http://feeds.feedburner.com/DismalcomIndicatorsEurope

  30 Septiembre, 2008| Economy | Comments (0) @ 20:30

Son of Chrysler: The Stealth Bail-Out

(September 30, 2008 08:30 PM, by Bryan Caplan) When’s the best time to beg for a bail-out? When everyone’s talking about another, bigger bail-out, of course! Via James……
Original Source: econlog.econlib.org

  30 Septiembre, 2008| Economy | Comments (0) @ 20:30

Thai Economy Slows in August

Political uncertainty, weak exports weigh on output….
Original Source: http://feeds.feedburner.com/DismalcomAnalysisAsia

  30 Septiembre, 2008| Economy | Comments (0) @ 20:00

Today’s column: In Wall Street’s fall from grace, a lift for others?

Going down? (Mary Altaffer/AP)
There aren’t too many winners in the current financial crisis, and there are plenty of losers. But what about Wall Street itself? As I write in this week’s column, what happens now in Washington and New York will determine whether the world’s most famous investment center can maintain its importance… […]…
Original Source: blogs.iht.com

  30 Septiembre, 2008| Economy | Comments (0) @ 19:19

Germany: Retail Sales

NA…
Original Source: http://feeds.feedburner.com/DismalcomIndicatorsEurope

  30 Septiembre, 2008| Economy | Comments (0) @ 19:00

Game Theory and Corporate Fear

Interesting to see that so many companies with nothing to do with Wall Street, banking, or trading all got off their asses and began shouting at Congress today. Stories are everywhere about people like Microsoft’s Steve Ballmer finally realizing that Congress wasn’t going to get the urgency of the current credit market problems without prodding from companies perceived to well away from the financial nexus. It’s classic example of game theory and externalities. Keep your own credibility by hoping a squeaker vote goes thru, only to find out that the other side was so noisy and strident that your message — that this is a big issue affecting far more people than anyone seemingly understands — didn’t make it through and the vote failed by a tiny amount. A big, big miscalculation by companies across America….
Original Source: feedproxy.google.com

  30 Septiembre, 2008| Economy | Comments (0) @ 18:48

Mark-to-Market Relaxed

This would have worked last year, but will probably increase suspicions in the current environment.
The SEC and the FASB gave the financial industry a reprieve from marking hard-to-value assets down to fire sale prices, throwing a lifeline to an industry beset by strained credit markets and the latest round of bank failures.
The U.S. stock market added to gains on the news, in hopes that regulators’ new interpretation of fair value, or mark-to-market, accounting rules, will slow or reverse the heavy flow of mortgage-related losses on banks’ balance sheets….
Original Source: www.aleablog.com

  30 Septiembre, 2008| Economy | Comments (0) @ 18:16

When Stocks Soar

If a stock ever moved resolutely sideways, it was Wachovia. From September 2004 until September 2007, it basically traded at $50 a share: sometimes a little less, sometimes a little more. And then it started a year-long decline, which culminated in a final drop to zero (plus option value) on Monday. Wachovia’s shareholders have been wiped out: the stock closed at just $3.50 a share today — that’s down 65% from where they closed on Friday.
…
Original Source: www.portfolio.com

  30 Septiembre, 2008| Economy | Comments (0) @ 18:00

Another kind of leverage they’re watching closely in Basel…

Apparently banks aren’t the only financial institutions the Bank for International Settlements is watching these days….
Original Source: allaboutalpha.com

  30 Septiembre, 2008| Economy | Comments (0) @ 17:37

“Have a contingency plan for 750-1000 bank failures over the next six months”: Leading Academic

Duke professor and Journal of Finance Editor Campbell Harvey warns that we need to “get in front” of the storm clouds gathering over the banking system….
Original Source: allaboutalpha.com

  30 Septiembre, 2008| Economy | Comments (0) @ 17:29

Lies, Damn Lies, and Tourism Statistics

In 1995, the owner of the Great Smoky Mountain Railroad sued Warner Brothers. The movie studio had used the railroad as a location for the train crash scene in The Fugitive, and the railroad had asked in return for an end-credit. For some reason the end-credit never appeared in the final film; the owner was convinced that if it had done, visits to his attraction would have been much higher. And to try to prove his point, he commissioned an a…
Original Source: www.portfolio.com

  30 Septiembre, 2008| Economy | Comments (0) @ 17:06

Russian Federation: GDP

NA…
Original Source: http://feeds.feedburner.com/DismalcomIndicatorsEurope

  30 Septiembre, 2008| Economy | Comments (0) @ 17:00

Fair-Value Accounting & FASB 157

"Blaming fair-value accounting for the credit crisis
is a lot like going to a doctor for a diagnosis and then blaming him
for telling you that you are sick.” -Dane Mott , JPMorgan Chase & Co.

>

The debate on fair value accounting, FASB157,…
Original Source: feedproxy.google.com

  30 Septiembre, 2008| Economy | Comments (0) @ 16:41

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