May 7, 2009

Bank “Stress Tests” Results Are Finally In: Fed Licks It’s Chops

The long-awaited, much heralded bank “stress test” results were FINALLY released today. Turbo-tax Tim Geithner delayed them a few days, and waited until after the market close today…although much of the news was intentionally leaked before the release. Leaks claimed that the test found that Bank of America needs $33.9 billion in additional capital. The […]

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March 1, 2009

The Short And Simple Story Of The Credit Crisis

Here’s a neat little clip that illustrates the credit crisis in a simple way. When you get to the “leverage” part, remember that the use of leverage has been MASSIVE and systemic. It has amplified the nasty infection, and allowed it to sicken institutions around the globe. Also know that regional banks, who were shut […]

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February 27, 2009

Toxic Assets Indeed!

Many times we’ve discussed the “toxic assets” held by the banks, and the role they are playing in the global economic meltdown. One of the problems with these derivative securities is this: most of them never traded on any exchange, so valuing them is difficult. The banks had been valuing them at 100% or more […]

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January 18, 2009

The Vampires And Corrupters Of Capitalism

In the clip below, CNBC’s Dylan Ratigan, host of ‘Fast Money’ and ‘Closing Bell,’ explains why Citigroup’s potential deal with Morgan shows just how bad things are. Sandy Weil and the boys are taking the ride of their lives. Anything less than outrage over this idiocy and flat-out theft is heartbreaking. On Friday, Bank of […]

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