BLOG.JMHAMILTONPUBLISHING.COM: Monthly Archives for October 2010

"The leading intellectual spokesman and organizer of the anti-Bircher conservatives was William F. Buckley, Jr., the editor of National Review."

Posted by J.M. Hamilton Blog at 10/31/2010 6:53 PM | Add Comment

U.S. Exports to China Matter Little, so Why does the U.S. Government Allow Chinese Goods to be Dumped in the World's Largest Market, at the Expense of the American Worker???

Posted by J.M. Hamilton Blog at 10/31/2010 8:46 AM | Add Comment

SIGTARP QUARTERLY REPORT TO CONGRESS: 10-26-10

Posted by J.M. Hamilton Blog at 10/31/2010 5:23 AM | Add Comment

"The banks and other players in the securitization industry now seem to be looking to Congress to snap its fingers to make the whole problem go away, preferably with a law that relieves them of liability for their bad behavior."

Posted by J.M. Hamilton Blog at 10/31/2010 5:08 AM | Add Comment

“For Obama to wait longer, with real devices on their way to real places — he would have been open to criticism.”

Posted by J.M. Hamilton Blog at 10/31/2010 5:02 AM | Add Comment

"TARP is just part of a bailout-and-stimulus program that is a huge loser."

Posted by J.M. Hamilton Blog at 10/31/2010 4:51 AM | Add Comment

"If the possible damages are reduced further, or if Terra Firma loses the case, the fallout for the firm and Mr. Hands could be devastating, damaging both their standing with the banks private-equity firms depend on to finance their deals..."

Posted by J.M. Hamilton Blog at 10/31/2010 4:45 AM | Add Comment

"Check writing in the trillions is not a bondholder's friend," he declares.

Posted by J.M. Hamilton Blog at 10/30/2010 9:48 AM | Add Comment

SIGTARP ROCKS!

Posted by J.M. Hamilton Blog at 10/30/2010 8:16 AM | Add Comment

"But Halliburton admitted that no stability test was conducted on the actual recipe for the cement used on the well."

Posted by J.M. Hamilton Blog at 10/30/2010 5:36 AM | Add Comment

"The United States government’s relationship with Yemen has been troubled by mutual suspicion."

Posted by J.M. Hamilton Blog at 10/30/2010 5:30 AM | Add Comment

"Partly as a result, some economists now predict that it could take years or even a decade for the American economy to regain the levels of employment and vigor achieved before the 2008 crisis."

Posted by J.M. Hamilton Blog at 10/30/2010 5:17 AM | Add Comment

"But infrastructure spending could get a significant boost under the Democrats..."

Posted by J.M. Hamilton Blog at 10/29/2010 7:06 PM | Add Comment

"Frank, 70, has been chairman of the powerful House Financial Services Committee for almost four years."

Posted by J.M. Hamilton Blog at 10/29/2010 6:59 PM | Add Comment

"Telltale signs of future trouble aren’t hard to spot."

Posted by J.M. Hamilton Blog at 10/29/2010 6:52 PM | Add Comment

“These people think they can play by a different set of rules.”

Posted by J.M. Hamilton Blog at 10/28/2010 5:11 PM | Add Comment

"Some investors have frowned on the XTO deal, worried that it will pinch Exxon's profitability."

Posted by J.M. Hamilton Blog at 10/28/2010 4:56 PM | Add Comment

"... the commission staff determined that Halliburton had conducted three laboratory tests that indicated that the cement mixture did not meet industry standards."

Posted by J.M. Hamilton Blog at 10/28/2010 4:45 PM | Add Comment

"AIG in 2006 paid $1.64 billion to settle federal and state probes into its business practices, and in July 2010 agreed to pay $725 million to settle a shareholder lawsuit accusing it of accounting fraud and stock price manipulation."

Posted by J.M. Hamilton Blog at 10/28/2010 2:44 PM | Add Comment

"What we are saying is that the hype surrounding the release is just that. There were a lot of classified documents released, but very few of them contained information that would truly shed new light... or damage national security."

Posted by J.M. Hamilton Blog at 10/28/2010 2:38 PM | Add Comment

Mr. Wen said that “the people’s wishes for and needs for democracy and freedom are irresistible.”

Posted by J.M. Hamilton Blog at 10/28/2010 7:06 AM | Add Comment

A Crutch? "...regulators and central bankers had contributed to the system’s dependence on credit ratings by “hard-wiring” their verdicts into laws and regulations."

Posted by J.M. Hamilton Blog at 10/28/2010 7:00 AM | Add Comment

Jimi Timeline!

Posted by J.M. Hamilton Blog at 10/27/2010 7:07 PM | Add Comment

"Democrat or Republican, Elephant or Donkey, nothing much ever seems to change."

Posted by J.M. Hamilton Blog at 10/27/2010 7:03 PM | Add Comment

"The banks placed 'spoof' trading orders..."

Posted by J.M. Hamilton Blog at 10/27/2010 6:59 PM | Add Comment

"Never mind: Wall Street is busily defining the term for itself."

Posted by J.M. Hamilton Blog at 10/27/2010 6:51 PM | Add Comment

Friedman: "He didn't trust central bankers."

Posted by J.M. Hamilton Blog at 10/27/2010 6:43 PM | Add Comment

Said the lobbyist, referring not to the possible Republican takeover but to his possible surge in new clients. “But I would be surprised if it didn’t help me in one way or another. Business should be very good.”

Posted by J.M. Hamilton Blog at 10/27/2010 6:34 PM | Add Comment

"Altogether, GlaxoSmithKline sold 20 drugs with questionable safety that were made at a huge plant in Puerto Rico that for years was rife with contamination."

Posted by J.M. Hamilton Blog at 10/27/2010 6:29 PM | Add Comment

Barofsky is Back.... "He called the Treasury’s October report on A.I.G. 'blatant manipulation.'"

Posted by J.M. Hamilton Blog at 10/26/2010 3:58 PM | Add Comment

"Next month, President Obama plans to tour four major Asian democracies — Japan, Indonesia, India and South Korea — while bypassing China."

Posted by J.M. Hamilton Blog at 10/26/2010 5:05 AM | Add Comment

"Unfortunately, the Chamber’s anger would appear misdirected."

Posted by J.M. Hamilton Blog at 10/25/2010 7:01 PM | Add Comment

“The basis for our foreclosure decisions has been accurate."

Posted by J.M. Hamilton Blog at 10/25/2010 6:57 PM | Add Comment

"One solution is mandated encryption: the government would compel both corporations and individuals to install the most up-to-date protection tools."

Posted by J.M. Hamilton Blog at 10/25/2010 6:47 PM | Add Comment

"Republican strategists say the rise of the tea party makes that traditional approach a risky proposition, as the most energized GOP voters may be turned off by presidential candidates who link themselves too closely to party leaders."

Posted by J.M. Hamilton Blog at 10/25/2010 6:51 AM | Add Comment

“There’s this irrational belief that if you foreclose and hold on to the property for six months, somehow prices will rebound.”

Posted by J.M. Hamilton Blog at 10/25/2010 6:36 AM | Add Comment

“We carpet-bombed for two months in 82 races, now it’s sniper time,” said Rob Collins, president of American Action Network...

Posted by J.M. Hamilton Blog at 10/25/2010 6:34 AM | Add Comment

"But direct democracy is still dangerous."

Posted by J.M. Hamilton Blog at 10/24/2010 6:50 PM | Add Comment

"Price expects the technology portion of capital-spending budgets to fall as corporate networks head into this new stage–known as "public" cloud computing–in which more tasks are handled, possibly by a new group of technology outfits, for a fee."

Posted by J.M. Hamilton Blog at 10/24/2010 5:21 PM | Add Comment

"Mr. Clinton employed a triangulation strategy after Mr. Gingrich’s Republicans took control, trying to play off both his own party as well as the empowered opposition."

Posted by J.M. Hamilton Blog at 10/24/2010 5:16 PM | Add Comment

“If we look all across the country, we are seeing incumbent Democrats in a world of hurt.”

Posted by J.M. Hamilton Blog at 10/24/2010 5:12 PM | Add Comment

“The relationship is intimate,” an Afghan political leader said of Mr. Daudzai and the Iranians.

Posted by J.M. Hamilton Blog at 10/24/2010 5:08 PM | Add Comment

Nikkei, the S&P, and the Dow Crash of '29....

Posted by J.M. Hamilton Blog at 10/23/2010 10:24 PM | Add Comment

"Ignoring that pleasant fiction, the U.S. dollar index has fallen almost 8% from late August to its low in mid-October."

Posted by J.M. Hamilton Blog at 10/23/2010 10:00 AM | Add Comment

Business Says there is too much Uncertainty to Invest or to Hire. What is Uncertain? We know that after Bush's fiscal irresponsibility that Taxes may rise, as Tax rates return to the Clintonian Level, a more Prosperous Time for the Nation and Business!

Posted by J.M. Hamilton Blog at 10/23/2010 8:47 AM | Add Comment

Further Study is Needed???? "...the G-20 representatives agreed on the goal of 'reducing excessive imbalances' — without a specified limit — and called on the International Monetary Fund to examine the causes of 'persistently large imbalances.'"

Posted by J.M. Hamilton Blog at 10/23/2010 8:35 AM | Add Comment

Dems Play Hard Ball...

Posted by J.M. Hamilton Blog at 10/23/2010 7:26 AM | Add Comment

"The latest resistance is over a proposal to shift school instruction fully or almost fully to China’s official language, Mandarin."

Posted by J.M. Hamilton Blog at 10/23/2010 7:22 AM | Add Comment

"But the field reports disclosed by WikiLeaks, which were never intended to be made public, underscore the seriousness with which Iran’s role has been seen by the American military."

Posted by J.M. Hamilton Blog at 10/23/2010 7:15 AM | Add Comment

"Like the first release, some 92,000 reports covering six years of the war in Afghanistan, the Iraq documents provide no earthshaking revelations, but they offer insight..."

Posted by J.M. Hamilton Blog at 10/23/2010 7:13 AM | Add Comment

“Double Irish” and the “Dutch Sandwich”

Posted by J.M. Hamilton Blog at 10/22/2010 5:24 PM | Add Comment

"Mr. Boehner, of Ohio, has been on an aggressive fund-raising push on behalf of Republican House members, barnstorming the country on a bus and calling upon the help of a close coterie of lobbyists..."

Posted by J.M. Hamilton Blog at 10/22/2010 4:48 AM | Add Comment

Goldman Traders Land with Private Equity!

Posted by J.M. Hamilton Blog at 10/21/2010 9:04 PM | Add Comment

"I don't think Democrats are motivated to extend them and Republicans won't have the political base during a lame-duck to extend them all for as long as they like."

Posted by J.M. Hamilton Blog at 10/21/2010 9:00 PM | Add Comment

"And Goldman Sachs, Chevron Texaco, and Aegon... donated more than $8 million in recent years to a chamber foundation..."

Posted by J.M. Hamilton Blog at 10/21/2010 8:31 PM | Add Comment

For the Fed a Choice: the Endless Bailout of Zombie Banks (and a Japanese Economy on U.S. shores), or the American People (And Recovery)? - J.M.H.

Posted by J.M. Hamilton Blog at 10/21/2010 5:18 PM | Add Comment

"To maximize investment returns, private equity firms often squeeze down costs in the operations they acquire. And some legal experts suggest that could be a factor in the quality of legal documents generated by foreclosure mills."

Posted by J.M. Hamilton Blog at 10/21/2010 6:09 AM | Add Comment

"Officials involved in drafting the rules said the goal was to ensure a rapid response to a cyberthreat while balancing concerns that civil liberties might be at risk should the military take over such domestic operations."

Posted by J.M. Hamilton Blog at 10/21/2010 6:05 AM | Add Comment

“There’s a growing acceptance and public awareness that this is necessary, that these measures are needed.”

Posted by J.M. Hamilton Blog at 10/21/2010 6:02 AM | Add Comment

“This is ultimately going to have to be resolved by the 50 state supreme courts who have jurisdiction for property law,” Professor Cole predicted

Posted by J.M. Hamilton Blog at 10/20/2010 8:21 PM | Add Comment

"Fast forward to the current crisis when interest rate policy no longer works and the Fed must resort to printing money and buying bonds, a policy so effective that the U.S. central bank must now try to amplify even that."

Posted by J.M. Hamilton Blog at 10/20/2010 8:16 PM | Add Comment

"Sarkozy said earlier the government would not let the country be paralyzed by protests against a pension reform that seeks to raise the minimum retirement age to 62 from 60."

Posted by J.M. Hamilton Blog at 10/20/2010 8:10 PM | Add Comment

"...but federal budget statistics show that Republican policies over the last decade, and the cost of the two wars, added far more to the deficit than initiatives approved by the Democratic Congress since 2006..."

Posted by J.M. Hamilton Blog at 10/20/2010 5:39 AM | Add Comment

"The discussions appear to be unfolding without the approval of Pakistan’s leaders, who are believed to exercise a wide degree of control over the Taliban’s leadership."

Posted by J.M. Hamilton Blog at 10/20/2010 5:35 AM | Add Comment

"The cost of protecting BofA's debt against default for five years rose to 1.95 percentage points, or $195,000 a year for every $10 million of debt insured from 1.85 percent."

Posted by J.M. Hamilton Blog at 10/19/2010 8:27 PM | Add Comment

Poison Pill

Posted by J.M. Hamilton Blog at 10/19/2010 8:20 PM | Add Comment

"Countrywide hasn’t met its contractual obligations as a servicer also because it hasn’t asked for loan repurchases and is taking too long with foreclosures..."

Posted by J.M. Hamilton Blog at 10/19/2010 6:25 PM | View Comments (1) | Add Comment

"China, which in July said it was cutting this year’s export quota of rare earths by 72 percent, is preparing further reductions in its 2011 quota, the official newspaper China Daily said Tuesday."

Posted by J.M. Hamilton Blog at 10/19/2010 6:15 PM | Add Comment

The Rise of the Yuan? Could China's Rate Hike Lead to even Greater Capital Inflows into China, at the Expense of the West???

Posted by J.M. Hamilton Blog at 10/19/2010 5:00 PM | Add Comment

"Given these trends, is it probable that Baby Boomers will collect all the "entitlements" to which they had assumed they were entitled? Not whether it's fair or efficient public policy, but whether it's realistic."

Posted by J.M. Hamilton Blog at 10/19/2010 4:48 PM | Add Comment

"... the Communications Assistance to Law Enforcement Act, telephone and broadband companies are supposed to design their services so that they can begin conducting surveillance of a target immediately after being presented with a court order."

Posted by J.M. Hamilton Blog at 10/18/2010 10:23 PM | Add Comment

"...unlike in advanced democracies, where one of the key mandates of the government is to redistribute income to improve the average citizen's welfare, local governments in China simply pursue economic gain."

Posted by J.M. Hamilton Blog at 10/18/2010 10:08 PM | Add Comment

Bank of America Plans to Resume Foreclosures

Posted by J.M. Hamilton Blog at 10/18/2010 5:30 PM | Add Comment

"The number of active U.S. onshore rigs averaged 1,587 in the third quarter, a 71 percent increase from a year earlier, as energy companies looked for alternatives to offshore drilling."

Posted by J.M. Hamilton Blog at 10/18/2010 1:56 PM | Add Comment

“If you’re talking about three or four weeks, it will be a blip in the housing market,” Dimon told investors. “If it went on for a long period of time, it will have a lot of consequences, most of which will be adverse on everybody.”

Posted by J.M. Hamilton Blog at 10/18/2010 1:41 PM | Add Comment

"Americans now are buying more Android phones than iPhones."

Posted by J.M. Hamilton Blog at 10/18/2010 1:34 PM | Add Comment

Securities Lending.... Yet Another Form of Leverage...

Posted by J.M. Hamilton Blog at 10/18/2010 12:56 PM | Add Comment

The Problem with QE is it does not place money in consumers hands, and in fact it may prove contractionary, in that it appears to prop up zombie banks (who are not lending) & provides bond investors with very low yields/income. - J.M.H.

Posted by J.M. Hamilton Blog at 10/17/2010 8:33 AM | Add Comment

"If something cannot go on forever, it will stop." - Herbert Stein, Chairmen of the Counsel of Economic Advisors, Nixon Administration

Posted by J.M. Hamilton Blog at 10/17/2010 8:17 AM | Add Comment

“Countrywide is proud of its role in making homeownership affordable to lower-income households.”

Posted by J.M. Hamilton Blog at 10/17/2010 7:29 AM | Add Comment

"In the past month, the Food and Drug Administration has concluded that in some cases two types of drugs that were supposed to be preventing serious medical problems were, in fact, causing them."

Posted by J.M. Hamilton Blog at 10/17/2010 7:24 AM | Add Comment

General Carter: "There is not a huge amount of population there and there have been a few minor engagements, a few caches have been found. And I don’t think we will know how successful it has been for probably another 24 to 48 hours.”

Posted by J.M. Hamilton Blog at 10/17/2010 7:18 AM | Add Comment

This week's WSJ offered a write up on how the Fed Chairmen advised Japan in the '90's (see link).... Policies that Mr. Bernanke has deployed in the U.S.

Posted by J.M. Hamilton Blog at 10/17/2010 7:05 AM | Add Comment

Very 80's: Junk and Private Equity Make a Comeback...

Posted by J.M. Hamilton Blog at 10/16/2010 6:12 PM | Add Comment

"If Alan Greenspan was the master of obfuscation, Ben Bernanke is increasingly proving himself a master of equivocation, and his remarks evoked a fittingly tepid investment response."

Posted by J.M. Hamilton Blog at 10/16/2010 10:22 AM | Add Comment

"Democrats would be able to break any ties with a vote from Vice President Joe Biden."

Posted by J.M. Hamilton Blog at 10/16/2010 10:21 AM | Add Comment

"Mr. Bernanke cautioned that 'unconventional policies have costs and limitations that must be taken into account in judging whether and how aggressively they should be used.'"

Posted by J.M. Hamilton Blog at 10/16/2010 4:40 AM | Add Comment

Otis Rawl, chief executive officer of the South Carolina Chamber of Commerce: "We wanted to bring the debate away from the Tea Party and back to the middle."

Posted by J.M. Hamilton Blog at 10/16/2010 2:25 AM | Add Comment

“By doing things like demanding more capital, rating firms have become the de facto regulator of AIG,”

Posted by J.M. Hamilton Blog at 10/15/2010 7:01 PM | Add Comment

A Graying Congress

Posted by J.M. Hamilton Blog at 10/15/2010 6:56 PM | Add Comment

"I don't think John ever left my house, except horizontally."

Posted by J.M. Hamilton Blog at 10/15/2010 6:52 PM | Add Comment

QE2 is DOA... Will the Money be Used to Prop Up Wall Street Banks, as Nonperforming Assets Grow, and Foreclosures Cease? Another Bank Bailout?

Posted by J.M. Hamilton Blog at 10/15/2010 6:42 PM | Add Comment

$67.5 Million

Posted by J.M. Hamilton Blog at 10/15/2010 6:35 PM | Add Comment

"Countrywide’s fall was as spectacular as its rise. After nearly collapsing into bankruptcy as its financing dried up, the company was acquired by Bank of America in 2008."

Posted by J.M. Hamilton Blog at 10/15/2010 6:28 PM | Add Comment

A Possible Opportunity for This Administration and the Next Congress???

Posted by J.M. Hamilton Blog at 10/15/2010 6:23 PM | Add Comment

"Democrats and Republicans alike in Congress are prepared to move legislation confronting China's currency manipulation this year."

Posted by J.M. Hamilton Blog at 10/15/2010 6:21 PM | Add Comment

"With a little more than two weeks till Election Day, 33 Tea Party-backed candidates are in tossup races or running in House districts that are solidly or leaning Republican, and 8 stand a good or better chance of winning Senate seats."

Posted by J.M. Hamilton Blog at 10/15/2010 5:13 AM | Add Comment

"Credit-default swaps on the country’s largest bank by assets are above those of its peers by a record margin, according to data provider CMA."

Posted by J.M. Hamilton Blog at 10/14/2010 8:34 PM | Add Comment

"The price may range from $2.5 billion to more than $3 billion, the people said."

Posted by J.M. Hamilton Blog at 10/14/2010 8:31 PM | Add Comment

"But comments by administration officials in Washington and a senior NATO official in Brussels on Wednesday indicated that the United States was doing more to encourage a peaceful settlement in Afghanistan than officials had previously disclosed..."

Posted by J.M. Hamilton Blog at 10/14/2010 8:25 PM | Add Comment

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