BLOG.JMHAMILTONPUBLISHING.COM: Monthly Archives for March 2010

Bernanke Complains About the Possible Reining In of the Fed’s Regulatory Role, After the Fed Did Such an Excellent Job of Setting the Nation Up for the On-going and Future Crisis, w/ Soft Money Policies

Posted by J.M. Hamilton Blog at 3/17/2010 8:15 PM | Add Comment

The Mother of All Oligopolies: OPEC! Despite High Inventories Speculation Continues to Drive Up Prices!

Posted by J.M. Hamilton Blog at 3/17/2010 8:11 PM | Add Comment

Not Soon to be the World’s Fiat Currency: The Euro!

Posted by J.M. Hamilton Blog at 3/17/2010 8:04 PM | Add Comment

States Rights!

Posted by J.M. Hamilton Blog at 3/17/2010 8:03 PM | Add Comment

Citi Peddling Moral Hazard Once Again (CDO’s and CLO’s)…. But who will buy?

Posted by J.M. Hamilton Blog at 3/16/2010 6:37 PM | Add Comment

As M3 continues to contract, Feds Efforts only encourage the liquidity trap, and Wall Street profits greatly!

Posted by J.M. Hamilton Blog at 3/16/2010 6:32 PM | Add Comment

The Bright Side of a U.S. down grade? Maybe it will force some Political leadership, Fiscal Discipline, and some candid conversations between the Pols and Their Constituents?

Posted by J.M. Hamilton Blog at 3/16/2010 6:28 PM | Add Comment

What’s Truly Frightening is the Dodd Bill Panders to Wall Street Interests, and Leaves in Place Too Big to Fail, and Systematic Risk …. If the Dodd effort is, allegedly, Left of Center Bill (?), What will it look like as the Republican’s pull it Right?

Posted by J.M. Hamilton Blog at 3/16/2010 6:26 PM | Add Comment

Time to Focus on the Pacific Rim, and their Pegged Exchange Rates...

Posted by J.M. Hamilton Blog at 3/16/2010 6:20 PM | Add Comment

Winter weather did not cause the slowdown in housing starts… rational expectations caused the decline. As oft stated at J.M.H., until a floor is established under housing, more of the same?

Posted by J.M. Hamilton Blog at 3/16/2010 6:17 PM | Add Comment

With a liquidity trap (Monetary Policy Exhausted), Banks Hoarding Cash, and a High- Debt to GDP Ratio (Fiscal Policy Exhausted)– All That Remains is Candor, Assessing Blame, and Going After the Exchange Rates of the Pacific Rim...

Posted by J.M. Hamilton Blog at 3/16/2010 6:08 PM | Add Comment

Being a Debtor Nation (U.S.) Makes a Country do Strange Things, like Allowing China to Walk All over Us…. China not only Manipulates Its Currency to Its Advantage, but Also Employs Protectionist Barriers to Trade… All to China’s Favor….

Posted by J.M. Hamilton Blog at 3/15/2010 8:46 PM | Add Comment

Another Dictatorship Calls for Internet Controls.... Paranoid Much?

Posted by J.M. Hamilton Blog at 3/15/2010 8:25 PM | Add Comment

A Political Junkie's Dream... C-SPAN Uploads Archives!

Posted by J.M. Hamilton Blog at 3/15/2010 8:23 PM | Add Comment

After the Residential and Commercial Real Estate Collapse.... Next Up Collateralized Loan Obligations and Junk Bonds, For Private Equity.

Posted by J.M. Hamilton Blog at 3/15/2010 8:18 PM | Add Comment

Dodds Bill Would Leave Open Systematic Risk, by Not Regulating the Derivatives Market. Who Benefits, No Surprises Here: Goldman, J.P, Citi, BOA, and Wells Fargo!

Posted by J.M. Hamilton Blog at 3/15/2010 8:08 PM | Add Comment

Goldman and J.P, With Competitors Eliminated (Lehman), Demand Unilateral Cash Collateral for their Derivative Monopoly! Goldman and J.P. Favor Over the Counter Regulation of 16% of the C.D.S. Market, But Not for their 84% Share of the C.D.S. Market!

Posted by J.M. Hamilton Blog at 3/15/2010 7:39 PM | Add Comment

U.S. Platinum Debt Rating in Jeopardy!

Posted by J.M. Hamilton Blog at 3/15/2010 7:09 PM | Add Comment

For months, Burry saw little change in the value ascribed to his credit-default-swap investments: “They were worth whatever Goldman Sachs and Morgan Stanley said they were worth.”

Posted by J.M. Hamilton Blog at 3/14/2010 2:55 PM | Add Comment

China's Bubble About to Pop? Foreshadowing of a Global Double Dip and Political Instability in China?

Posted by J.M. Hamilton Blog at 3/14/2010 2:47 PM | Add Comment

London's Invisibles.... All Too Visible Now....

Posted by J.M. Hamilton Blog at 3/14/2010 2:37 PM | Add Comment

If American Companies Want to Sell or Set Up Business in China, often they Have to Partner or Complete a Joint Venture with a Chinese Company..... Time to Insist Upon Reciprocity from Chinese Businesses, Who Want to Sell in America.

Posted by J.M. Hamilton Blog at 3/14/2010 2:18 PM | Add Comment

A Year and a Half After the Worst Financial Crisis of Our Times, A Crisis that the Majority Will Feel for Many Years to Come, and the Result is the Dodd Bill: Pathetic!

Posted by J.M. Hamilton Blog at 3/14/2010 9:02 AM | Add Comment

States In Over Their Heads On Under-Financed Obligations...

Posted by J.M. Hamilton Blog at 3/13/2010 8:17 PM | Add Comment

Abselson: Sharing Some Wisdom...

Posted by J.M. Hamilton Blog at 3/13/2010 8:10 PM | Add Comment

Bush Redux! California Pipe Dream or Faustian Deal with Wall Street? Until Real, Meaningful, Reform is Imposed on Banks/Investor Services/Financial Markets, Perhaps It's Not a Good Idea to Hand Social Security Over to the Money Changers!

Posted by J.M. Hamilton Blog at 3/13/2010 3:46 PM | Add Comment

If Finance is the Extension of Politics…Then if we read our Clausewitz, Finance is, perhaps, War without the Guns! - J.M.H.

Posted by J.M. Hamilton Blog at 3/13/2010 3:36 PM | Add Comment

MY GUESS IS THAT SPECULATORS, VIA CDS, ARE ADDING A 15 TO 20% MARK UP ON TO GREEK DEBT. REGULATION OF THE CDS MARKET (CLEARING HOUSE, EXCHANGE, COLLATERAL BACKING THE CDS) WOULD CURTAIL SPECULATION, AND MEAN A LESS ONEROUS INTEREST RATE FOR GREECE

Posted by J.M. Hamilton Blog at 3/13/2010 3:09 PM | Add Comment

Ernst & Young, and Fuld, Under Fire for Lehman Collapse: “That reeks of an auditor who, rather than being really truly independent, is beholden to management.”

Posted by J.M. Hamilton Blog at 3/13/2010 11:14 AM | Add Comment

And Some Members of Congress Want to Expand the Feds Oversight and Banking Authority? The Relationship Between the Fed and Wall Street is Symbiotic At Best....

Posted by J.M. Hamilton Blog at 3/13/2010 11:11 AM | Add Comment

Russian Arms Machine Falters, While the U.S. MIC Is On the Rise...

Posted by J.M. Hamilton Blog at 3/13/2010 11:09 AM | Add Comment

KKR (Private Equity) Goes Public...

Posted by J.M. Hamilton Blog at 3/12/2010 8:30 PM | View Comments (1) | Add Comment

If Volcker Remained in Power, Instead of the Maestro, Would America and the World Be in the Mess It's in Today? Assuredly Not!

Posted by J.M. Hamilton Blog at 3/12/2010 8:02 PM | Add Comment

A Man of Integrity, A Financial Colossus, and the Man Who Kick-Started the Reagan Economic Miracle… Mr. Paul Volcker!

Posted by J.M. Hamilton Blog at 3/12/2010 7:41 PM | Add Comment

Democrats Embrace Richard M. Nixon Economic Strategy in 2010??? IMAGINE: Wage & Price Controls from The Monster Republican?

Posted by J.M. Hamilton Blog at 3/12/2010 7:33 PM | Add Comment

By Letting It's Currency Rise... China Could Become a First World Power, Become the World Economic Engine, and Create a Middle Class. What's in the Way? A Reactionary Political Elite!

Posted by J.M. Hamilton Blog at 3/12/2010 7:26 PM | Add Comment

AIG Was Unprepared for Any Crisis..... Even at 79 Years of Age, Mr. Greenberg Did Not Plan for a Successor.... Where was the Board?

Posted by J.M. Hamilton Blog at 3/12/2010 7:19 PM | Add Comment

Could there be a Domino Effect , or Chain Reaction, of Sovereign Financial Collapse?…. As Healthy Sovereigns Continue to Support Fiscally Irresponsible Sovereigns? As Speculators and Hedge Funds Take their Toll? Will First World Countries Go 3rd World?

Posted by J.M. Hamilton Blog at 3/12/2010 7:12 PM | Add Comment

German Finance Minister Would Give Boot to Fiscally Irrespondible E.U. Members....

Posted by J.M. Hamilton Blog at 3/12/2010 7:04 PM | Add Comment

JPMorgan, Citigroup Helped Cause Lehman Collapse.... Add Goldman's Power at Treasury and Heh, Why Not Eliminate the Competition???

Posted by J.M. Hamilton Blog at 3/12/2010 7:15 AM | Add Comment

The Short and Long Treasury Spread Begins to Expand... Inflation?

Posted by J.M. Hamilton Blog at 3/12/2010 7:13 AM | Add Comment

Wells Fargo Bank Insider Unloads Bank Stock....

Posted by J.M. Hamilton Blog at 3/12/2010 7:12 AM | Add Comment

State Budget Cuts Could Prove Significant Drag on the Economy.... State and Local Spending has a 50% Greater Impact on GDP Than Fed Spending...

Posted by J.M. Hamilton Blog at 3/11/2010 10:51 PM | Add Comment

E.U. Goes After Hedge Funds.... Ignores Mr. Geithner! Greater Scrutiny of Hedge Funds to Take Place.

Posted by J.M. Hamilton Blog at 3/11/2010 10:43 PM | Add Comment

Republicans Fight Against Greater Transparency on Derivative Products

Posted by J.M. Hamilton Blog at 3/11/2010 10:36 PM | Add Comment

Repo 105 Aside... Was Lehman's Financials Any Worse, than Any of the Other Major Banks on Wall Street (Which would have collapsed w/out Gov Bailout Money), Or Did Paulson/Bernanke Decide to Eliminate a Goldman Competitor?

Posted by J.M. Hamilton Blog at 3/11/2010 10:23 PM | Add Comment

Some Shareholders are Taking on Executive Pay, Through Board of Director Compensation Committees. Goldman is Fighting their Shareholders Attack on the Compensation Committee Old Boy Network

Posted by J.M. Hamilton Blog at 3/11/2010 10:13 PM | Add Comment

The Very Definition of Systematic Risk: The Derivatives Market… A 300 Trillion Dollar Industry, that is Off – Balance Sheet Insurance Products, that is Unregulated, and with NO Collateral/Security/Equity Requirements Backing These Products.

Posted by J.M. Hamilton Blog at 3/11/2010 6:40 AM | Add Comment

Volcker rule gets lift in Senate amid reform talks

Posted by J.M. Hamilton Blog at 3/11/2010 6:36 AM | Add Comment

A Positive Step.... Against Too Big To Fail

Posted by J.M. Hamilton Blog at 3/11/2010 6:34 AM | Add Comment

New Financial Regulatory Agency, Supposed to Eliminate Systematic Risk.... To have Zero Responsibility/Authority! Thank you Senate Banking Committee! And Volcker Rule Appears D.O.A.!

Posted by J.M. Hamilton Blog at 3/10/2010 9:59 PM | Add Comment

Dems Take Lead on Eliminating Earmarks/Pork Barrel for Private Sector.... Would have been Good Politics if Republicans Had Taken the Lead...

Posted by J.M. Hamilton Blog at 3/10/2010 9:49 PM | Add Comment

Rock and Roll Icons to Abandon Private Equity's EMI..... Terra Firma Capital/Private Equity Now in Quicksand!

Posted by J.M. Hamilton Blog at 3/10/2010 9:41 PM | Add Comment

Goldman Plays So Many Angles... That if they are not Careful, Goldman May Play Themselves into Oblivion, Like they Nearly did in the Fall of 2008....

Posted by J.M. Hamilton Blog at 3/10/2010 6:09 AM | Add Comment

A Very Positive Step from BOA.....

Posted by J.M. Hamilton Blog at 3/10/2010 6:05 AM | Add Comment

King Usury Obtains Exemption from the Senate Banking Committee: Payday loans are short-term, high-interest loans — typically 400 percent on an annualized basis...

Posted by J.M. Hamilton Blog at 3/10/2010 6:01 AM | Add Comment

Three Scariest Words in the English Language: Senate Banking Committee

Posted by J.M. Hamilton Blog at 3/10/2010 6:00 AM | Add Comment

State Pension Funds - Play "Vegas" Odds - Reminds One of a Recent President Who Wanted to Place Social Security in the Hands of Wall Street...

Posted by J.M. Hamilton Blog at 3/9/2010 9:32 PM | Add Comment

Not All Europeans Are On Board with the Creation of an EMF...

Posted by J.M. Hamilton Blog at 3/9/2010 9:30 PM | Add Comment

Greece, pressing for curbs on financial speculation that it blames for worsening the country's debt crisis...

Posted by J.M. Hamilton Blog at 3/9/2010 9:29 PM | Add Comment

German Chancellor Calls for Reining In Derivatives...

Posted by J.M. Hamilton Blog at 3/9/2010 9:26 PM | Add Comment

Alleged Glimmers of Hope for the Economy Face One Too Many Drags: Usury from the Banks and Now Big Oil Weighs In....

Posted by J.M. Hamilton Blog at 3/8/2010 8:29 PM | Add Comment

Banks Are a Very Lousy Investment, As Noted in Prior Blog (2-28-10), Below.... And Pension Funds, through the "Judicial Free Market," Are Beginning to Take Action...

Posted by J.M. Hamilton Blog at 3/8/2010 8:13 PM | Add Comment

Chinese Leadership Has a Lot of Fears: Not the Least of which is the Possibility of a Rising and Educated Middle Class...

Posted by J.M. Hamilton Blog at 3/8/2010 8:10 PM | Add Comment

Robert Morvillo, a Greenberg attorney, told Justice Charles Ramos in Manhattan today that Morvillo’s office and lawyers for New York Attorney General Andrew Cuomo reached an agreement for Greenberg to be questioned under oath.

Posted by J.M. Hamilton Blog at 3/8/2010 8:03 PM | Add Comment

Eliminate the Capital Gains Tax on Private Equity (PE), and Instead, Charge them the Higher Tax Rate All Other Business Entities Face…

Posted by J.M. Hamilton Blog at 3/8/2010 7:54 PM | Add Comment

Greenberg contended that a five-year statute of limitations for the government to file criminal charges against him ran out no later than Feb. 21, freeing him to testify.

Posted by J.M. Hamilton Blog at 3/8/2010 7:41 PM | Add Comment

Ex-McKesson Chairman McCall Gets 10-Year Prison Term for Fraud

Posted by J.M. Hamilton Blog at 3/8/2010 7:42 AM | Add Comment

The president has only addressed this head-on once – when he launched the Volcker Rules in January. But it proved fleeting – Secretary Geithner was spinning it away within 7 hours – and there has been no follow-up in terms of clear political messages.

Posted by J.M. Hamilton Blog at 3/8/2010 7:35 AM | Add Comment

Gov Proposed "Short Sale" Will Not Happen, Until There is Transparency in Accouting, and Market to Market Accounting.... Don't Count On It!

Posted by J.M. Hamilton Blog at 3/8/2010 7:34 AM | Add Comment

Quick Action/Resolve, on the Part of the E.U., To Rescue Greece Could Burn Hedge Funds Bets and Short Sellers.... Next, a European Monetary Fund?

Posted by J.M. Hamilton Blog at 3/7/2010 5:06 PM | Add Comment

Retro Blog: Inflation, at least in the Short Run, Would be Preferable to the Deflation We have Today!

Posted by J.M. Hamilton Blog at 3/7/2010 4:58 PM | Add Comment

The 15 U.S. Senator Protesting China's Currency Valuation Could do More for America by Insisting that Chinese Manufacturers Produce Goods on U.S. Soil, Than Tariffs Will Ever Accomplish...

Posted by J.M. Hamilton Blog at 3/7/2010 2:55 PM | Add Comment

As Mr. Lenin Once Said: "The capitalists will sell us the rope with which we will hang them." And the U.S. Gives Government Largesse to American and Multi-Nationals Doing Business in Iran.

Posted by J.M. Hamilton Blog at 3/7/2010 2:06 PM | Add Comment

And Here's Mr. Responsible Now....

Posted by J.M. Hamilton Blog at 3/6/2010 6:21 PM | Add Comment

Ask Wall Street to Behave Responsibly, Eliminate Too Big To Fail, Reduce Speculation and Excess Liquidity in the Banks..... And You Might As Well Be Branded a Socialist. In light of the on-going crisis, Prudent Reform is acting Responsibly.

Posted by J.M. Hamilton Blog at 3/6/2010 5:14 PM | Add Comment

Sovereigns and States Hit Junk Bond Status....

Posted by J.M. Hamilton Blog at 3/6/2010 5:07 PM | Add Comment

HOPE VS. MALAISE???.... HOW ABOUT THE CALM BEFORE THE STORM...

Posted by J.M. Hamilton Blog at 3/6/2010 5:05 PM | Add Comment

Underfunded State Pension Funds Have Desperately Turned to Private Equity and Hedge Funds.... Hence, Setting Up the Taxpayer Once Again...

Posted by J.M. Hamilton Blog at 3/6/2010 4:59 PM | Add Comment

Retro Blog: Roubini On the Coming L Shaped Recovery (December 2008)

Posted by J.M. Hamilton Blog at 3/6/2010 2:19 AM | Add Comment

Mountain of Private Equity Debt Coming Due, At a Time When Interest Rates May Be Rising...

Posted by J.M. Hamilton Blog at 3/6/2010 2:14 AM | Add Comment

“We must succeed at putting a stop to the speculators’ game with sovereign states,” Merkel said.

Posted by J.M. Hamilton Blog at 3/6/2010 2:07 AM | Add Comment

Goldman, Greece, and the World's Fiat Currency.... Did Goldman Take Down the Euro?

Posted by J.M. Hamilton Blog at 3/5/2010 9:50 PM | Add Comment

Everyone agrees China is in the middle of a spectacular real estate boom.

Posted by J.M. Hamilton Blog at 3/5/2010 9:46 PM | Add Comment

What a Waste of a Year.... No Matter How the CBO Spins It, Healthcare Leglislation Will Expand Government and Increase the National Debt.... Where's the Reform?

Posted by J.M. Hamilton Blog at 3/4/2010 10:34 PM | Add Comment

A Floating Yuan... Be Careful What You Wish For....

Posted by J.M. Hamilton Blog at 3/4/2010 10:15 PM | Add Comment

And Speaking of Problems.... Who's Keeping an Eye on Starr - While It Regenrates Into AIG II? The Band of Snake Charmers That Brought the U.S., and the World, the Current Crisis Are At It Again....

Posted by J.M. Hamilton Blog at 3/4/2010 9:50 PM | Add Comment

Best also said that its ratings of AIG "continue to reflect the support of the U.S. Government and remain heavily dependent on the continuation of such support." We'll Be Supporting this Dog For the Rest of Our Lives!

Posted by J.M. Hamilton Blog at 3/4/2010 9:36 PM | Add Comment

AIG - the Very Defintion of Too Big To Fail - is like a Bad STD.... It Just Won't Go Away!

Posted by J.M. Hamilton Blog at 3/4/2010 9:33 PM | Add Comment

Short Sellars, Hedge Funds, and Private Equity to Dine on Swine (PIIGS), Next!

Posted by J.M. Hamilton Blog at 3/4/2010 6:10 AM | Add Comment

Why Did it Take the Mass Upset to Motivate Obama to Back Real Bank Reform?

Posted by J.M. Hamilton Blog at 3/4/2010 6:04 AM | Add Comment

Empire: Complexity & Collapse

Posted by J.M. Hamilton Blog at 3/3/2010 9:28 PM | Add Comment

Hedge Fund Dinner Party, or Short Seller Soiree…. ?

Posted by J.M. Hamilton Blog at 3/3/2010 9:19 PM | Add Comment

The Tragedy is the key elements on the Volcker Rule, and More, were not already Included in proposed Senate Banking Committee Legislation. The Tragedy is that the Senate Banking Committee has set the U.S. up to Repeat the 2007-2008 Financial Crisis!

Posted by J.M. Hamilton Blog at 3/3/2010 9:12 PM | Add Comment

If This is a Recovery… Can’t Wait for the Downturn…

Posted by J.M. Hamilton Blog at 3/3/2010 8:55 PM | Add Comment

President Obama Seems to be Upsetting Persons of all Political Stripes, Right and Left, but Isn’t that What a Leader Should be Doing?

Posted by J.M. Hamilton Blog at 3/3/2010 8:53 PM | Add Comment

The Euro is not the only Currency in Trouble… the Pound is taking its Lumps Too, due to Crushing Debt

Posted by J.M. Hamilton Blog at 3/3/2010 8:50 PM | Add Comment

Deficit Spending & Tax Cuts, In Short a Ballooning of the National Debt: Are the Reagan Economic Legacy!

Posted by J.M. Hamilton Blog at 3/2/2010 11:11 PM | Add Comment

Hedge Funds Under Fire for Sovereign Debt Raid? The Hunters Have Become the Hunted...

Posted by J.M. Hamilton Blog at 3/2/2010 10:51 PM | Add Comment

PIMCO' Mr. Gross on Cocktails and Sovereign Debt....

Posted by J.M. Hamilton Blog at 3/2/2010 10:37 PM | Add Comment

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