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BLOG.JMHAMILTONPUBLISHING.COM: Monthly Archives for May 2010

“We suffered — and there’s no talking our way around it — a bitter defeat,” Mrs. Merkel said at a party news conference on Monday.

“It was crucial to stop the panic, and this package has done it, but it doesn’t solve the longer-term problems which are slowly undermining the value of the euro,” Mr. Annunziata said. “If you’re not competitive, you can’t generate economic growth.”

“Lending more money to already overborrowed governments does not solve their problems,” Carl Weinberg, chief economist of High Frequency Economics in Valhalla, N.Y., said in a note.

The Sovereign Debt Crisis is Sucking the Wind out of the Global Economy…. The “Can” Just Got Punted Down the Road!

Senator Blanche Lincoln - J.M. Hamilton's Person of the Year! Quite Simply Because Anybody Who Can Single Handedly Upset the Banking Industry and Wall Street on this Scale, Deserves Our Nation’s Gratitude!

The Great European Monetary/Fiscal Sugar High and the Weimar Republic! Here's a hint... the Buzz Won't Last!

Unmitigated Greed Sends Mercenary Battalions of Banker Lobbyist into the Halls of Congress to Fight Derivatives Reform...... One Supposes that Tax Payer Financed Bailouts and Free Money from the Fed Funds Window, Et Al., Are Not Enough for Wall St. Banks!

In Germany: Political Backlash Against Continued Bank Bailouts and the Bailout of Fiscally Irresponsible E.U. Members...

Bank Bailout II... The Bank Bailouts are Coming at a More Frequent Pace... Meaning the Politicians are Boxing Themselves into a Corner!

A VERY HAPPY MOTHERS DAY!

A Crisis is, indeed, a terrible thing to waste, and that's why it would be ideal if this administration set a national goal to burn nothing but 100% pure ethanol - in the nation's trucks and autos - within 10 Years. If Brazil Can Do it, So can the U.S.

"The slick, which has already come ashore on the Chandeleur Islands off southeast Louisiana, is projected to curl west in the next three days, threatening not only the Mississippi River Delta but also miles of Louisiana coastline to the west of the river.

"The situation in Florida was particularly telling. The incoming Republican leaders of the State Legislature were backing drilling in state waters just off the coast."

Given BP's Safety Record, Why Should BP Be Allowed to Continue to Operate on U.S. Soil and U.S. Waters?

The Roots of the Taliban Movement Rest in Waziristan...

William H. Gross, managing director of Pimco, the bond manager: “Now, fear is back in play.”

Whistling Past the Graveyard? In some ways, 2010 is worse that 2008...

Ted Kaufman (D., Del.) likes to say, "Liquidity is important, but it is always trumped by fairness and transparency." The markets need transparency now.

"... for even the most unreconstructed bull, the lights, for the moment, anyway, have switched from bright green to glaring yellow."

Greater Transparency of the Derivatives Market, A Clearing House, Might Provide Clues as to Thursday Like Sell-Off...

Diagram of Exchanges

"The initial focus of the investigations appeared to center on the way a growing number of high-speed trading networks interact with one another and with venerable exchanges like the New York Stock Exchange."

Retro Blog: A Mysterious Reticence!

Greenspan shares blame for the crisis by keeping interest rates too low for too long, according to critics including Allan Meltzer, a professor at Carnegie Mellon University in Pittsburgh.

Warren Buffett’s Berkshire Hathaway Inc. holds warrants that entitle the insurance and holding company to buy 7.6 percent of the company’s stock, while BlackRock Inc. had a 6.1 percent stake as of March 8, the proxy said.

"As for CDOs -- a.k.a. 'Chernobyl Death Obligations' -- they must be heavily regulated if not banned."

"... with opinion polls signaling that the majority of Germans are against aiding Greece."

Results have stabilized at remaining insurance units and the company may recover by year- end from junk status assigned to its stand-alone credit, Standard & Poor’s said last month.

Nobel laureate Paul Krugman wrote in the New York Times today that he is “increasingly convinced” Greece will quit the bloc.

The Question is Not What Caused the Sell Off, which Has Been Long Overdue... The Question is Whom, or What, Waded into the Market to Arrest the Fall...??? Could It have been the Fed through Its Itermediaries... the Wall Street Banks?

"China is 'on a treadmill to hell.' "

Crude Drops to $60... But the Price Remains Fixed at the Pump!

Paulson and Geithner Advocates for Too Big To Fail Banks!!!

"After we crashed and burned, there’s one landing slot?”

The Securities and Exchange Commission and the Commodity Futures Trading Commission, along with the Treasury and the Federal Reserve, were investigating what the S.E.C. called “unusual trading activity that took place briefly this afternoon.”

The PE Shuffle...Debt for All and Profits for a Few!

The European Union’s financial services commissioner to visit with Geithner, Wall Street, Private Equity and Hedge Funds. After which, the Commissioner Plans to Burn His Clothing!

Mr. Grassley added: “If a TARP tax is imposed and the money is simply spent, that doesn’t repay taxpayers one cent for TARP losses. It’s just more tax-and-spend big government, while taxpayers foot the bill for Washington’s out-of-control spending.”

“Mr. Metter vigorously denies the charges brought against him today by the government,” his lawyer said in a phone interview. “He looks forward to his day in court, where he is confident that he will be fully vindicated.”

Bye Bye Euro... You Will Be Missed...

As Europe and China Drift Into Chaos.... The Dollar Remains a Safe Haven, which should Hold Inflation in Check. Time to Leave The Stock Market?

"They need to take some significant steps to stem the tide of what is happening right now and try to reposition themselves.”

“The Dodd bill is almost entirely irrelevant,” Mr. Vigilante said in a telephone interview. “All it does is strengthen what we’ve had for years,” a system that depends on judgments made by regulators behind closed doors.

Another Bailout for European Banks?

Where's the "Drill Baby Drill!" Quoir and Duo, Palin and McCain?

Mr. Munger Gets It, but One Wonders if Warren Does? Omaha's Link to Wall Street!

A Shift in Emphasis at the Fed...

Experts point out that ducking taxes is part of a broader culture of bribery and corruption that is deeply entrenched.

Yet Another Bubble....But Who's Propping Up The Stock Market?.... The Fed?

"Could Goldman Go the Way of Drexel?" --- Probably Not, but We Can Certainly Hope that Mr. Blankfein Finds the Exit...

"Now the question is, Will the jobs follow?"

"That, Democrats say, makes most auto dealers enough of a financial company to fall under the new bureau."

In a floor speech, Mrs. Boxer again rejected the Republican criticism, although her amendment suggested that there might have been some reason to question the possibility of future bailouts.

If You have Under the Age of, say 50, and You have been Paying Into Social Security All Your Life... You are in for a Tremendous Disappointment...

"In any event, firms like Goldman and Morgan Stanley can always give up their commercial-banking licenses—which they took out only in 2008, to secure funding from the Fed—knowing that the government would almost certainly still bail them out."

"The financial impact of Goldman’s troubles continues to mount. Since the Securities and Exchange Commission announced on April 16 that it had filed a civil fraud suit against the firm, its stock is down more than 20 percent..."

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