BLOG.JMHAMILTONPUBLISHING.COM: Monthly Archives for March 2011

"The central bank has never revealed identities of borrowers since the discount window began lending in 1914."

Posted by J.M. Hamilton Blog at 3/31/2011 6:51 PM | Add Comment

"The Irish bank losses come amid fresh concerns that Europe’s banking problems are getting worse, not better."

Posted by J.M. Hamilton Blog at 3/31/2011 6:35 PM | Add Comment

TEA FOR SALE?

Posted by J.M. Hamilton Blog at 3/31/2011 6:08 PM | Add Comment

“The Irish stress tests will be an important call to arms that shows that it cannot keep putting up the cost for recapitalizing its banks,” he said. “You need burden-sharing with the bondholders. Without that, the debt becomes unsustainable.”

Posted by J.M. Hamilton Blog at 3/31/2011 6:00 AM | Add Comment

“The first priority,” he said, “was the stability of Syria.”

Posted by J.M. Hamilton Blog at 3/31/2011 5:52 AM | Add Comment

"A former Nicaraguan foreign minister who once called President Ronald Reagan “the butcher of my people” has been appointed to represent Libya..."

Posted by J.M. Hamilton Blog at 3/31/2011 5:46 AM | Add Comment

"Tokyo Electric’s shareholders may be wiped out by clean-up costs and liabilities stemming from the nuclear accident, the worst since Chernobyl."

Posted by J.M. Hamilton Blog at 3/30/2011 7:47 PM | Add Comment

“It’s going to be a negative drag for some time.”

Posted by J.M. Hamilton Blog at 3/30/2011 7:31 PM | Add Comment

“Cities are by no means out of the woods,” Hoene said. “They have got another year or two of dealing with either declining revenues or pretty slow growth.”

Posted by J.M. Hamilton Blog at 3/30/2011 7:27 PM | Add Comment

"Meanwhile, foreclosures appear to have plateaued, albeit at historically high levels."

Posted by J.M. Hamilton Blog at 3/30/2011 7:14 PM | Add Comment

Insider Activity..

Posted by J.M. Hamilton Blog at 3/30/2011 7:12 PM | Add Comment

"...the United States also began flying AC-130 gunships, which attacked Libyan tanks and armored vehicles on the coastal road near Brega and Surt with 40-millimeter and 105-millimeter cannons, an American military officer said Wednesday."

Posted by J.M. Hamilton Blog at 3/30/2011 7:04 PM | Add Comment

"The decision comes, said the New York Fed, as the market for mortgage-backed securities has improved and investor demand has returned."

Posted by J.M. Hamilton Blog at 3/30/2011 7:01 PM | Add Comment

“I think the Fed, and particularly the chairman, have done a fantastic job throughout the crisis.” - James Dimon, JP Morgan Chase

Posted by J.M. Hamilton Blog at 3/30/2011 6:58 PM | Add Comment

“Dave’s contributions have been extraordinary,” Mr. Buffett said.

Posted by J.M. Hamilton Blog at 3/30/2011 6:54 PM | Add Comment

"By allowing the yuan to float freely, the Chinese central bank would no longer need to buy dollars flowing into the country and so could drastically slow its accumulation of foreign exchange reserves."

Posted by J.M. Hamilton Blog at 3/30/2011 6:14 AM | Add Comment

"When the newly elected Obama administration drew up program guidelines, officials concluded they could neither force servicers to participate nor fine them for poor performance."

Posted by J.M. Hamilton Blog at 3/30/2011 6:12 AM

"We understand that it isn’t enough to have good rules; competition flourishes only when those rules are consistently enforced.”

Posted by J.M. Hamilton Blog at 3/30/2011 6:01 AM | Add Comment

"Too much inventory pushes down prices."

Posted by J.M. Hamilton Blog at 3/30/2011 5:56 AM | Add Comment

75 Years of American Finance: A Graphic Presentation 1861-1935

Posted by J.M. Hamilton Blog at 3/29/2011 8:37 PM | Add Comment

"Short sales, where the bank accepts less than the principal on a loan, and foreclosures accounted for 59 percent of last year’s cash sales, up from 10 percent in 2004, Morgan Stanley reported."

Posted by J.M. Hamilton Blog at 3/29/2011 8:23 PM | Add Comment

"The problem is that sovereign debt, and C.D.S. issuance, is so interconnected throughout the globe, that if one sovereign defaults it could set off a chain of sovereign dominos..."

Posted by J.M. Hamilton Blog at 3/29/2011 5:33 PM | Add Comment

"The last thing New Yorkers need during these difficult economic times is to see cell phone prices rise."

Posted by J.M. Hamilton Blog at 3/29/2011 5:26 PM | Add Comment

"In war, defeat is not an option."

Posted by J.M. Hamilton Blog at 3/29/2011 5:20 PM | Add Comment

"He added that the European bailout mechanisms were inadequate, likening them to attaching a first-aid bandage 'to a festering wound.' "

Posted by J.M. Hamilton Blog at 3/29/2011 5:14 PM | Add Comment

“While the releases are still considerably below Chernobyl, they have already reached a level that could affect the region around the site for a prolonged period,” Arjun Makhijani.

Posted by J.M. Hamilton Blog at 3/29/2011 5:09 PM | Add Comment

“Qaddafi has not yet stepped down from power, and until he does, Libya will remain dangerous.”

Posted by J.M. Hamilton Blog at 3/29/2011 5:38 AM | Add Comment

"President Ali Abdullah Saleh cast the government’s losses in stark terms on Sunday, telling a committee from his political party that 6 of Yemen’s 18 provinces 'have fallen.'"

Posted by J.M. Hamilton Blog at 3/28/2011 10:09 PM | Add Comment

"In the last decade of his watch, combined assets in the largest six bank holding companies rose from 17 percent of U.S. gross domestic product to more than 50 percent (this measure now stands at 62 percent)."

Posted by J.M. Hamilton Blog at 3/28/2011 9:46 PM | Add Comment

“It was not in our national interest to let that happen,” Obama said.

Posted by J.M. Hamilton Blog at 3/28/2011 7:50 PM | Add Comment

Haircut Time??? "After this bailout, it will be impossible to claim that the euro represents a functioning monetary system with just a couple of rogue members. Its flaws will be impossible to ignore."

Posted by J.M. Hamilton Blog at 3/28/2011 7:38 PM | Add Comment

"Unrealized losses of more than 12 months on equity investments narrowed to $531 million on Dec. 31 from $2.7 billion a year earlier, Berkshire said in its annual report."

Posted by J.M. Hamilton Blog at 3/28/2011 7:35 PM | Add Comment

"A partial meltdown of fuel rods in the No. 2 reactor probably caused a jump in the readings, Japan Chief Cabinet Secretary Yukio Edano said."

Posted by J.M. Hamilton Blog at 3/28/2011 7:28 PM | Add Comment

"Indeed, this model shows the power of the Taylor rule (Chart 5)."

Posted by J.M. Hamilton Blog at 3/28/2011 7:07 PM | Add Comment

"...the FOMC stuck to a monetary-policy rule similar to the classic Taylor rule ... it changed its preferred measure of inflation twice in the early 2000s (from headline Consumer Price Index (CPI) to headline Personal Consumption Expenditures (PCE)..."

Posted by J.M. Hamilton Blog at 3/28/2011 6:29 PM | Add Comment

"William Daley, the president's chief of staff and brother of Chicago Mayor Richard M. Daley, was president of SBC Communications, an AT&T predecessor."

Posted by J.M. Hamilton Blog at 3/28/2011 6:41 AM | Add Comment

"President Obama plans to address the nation on Monday night about the American role in Libya amid continuing questions about its objectives and duration."

Posted by J.M. Hamilton Blog at 3/28/2011 6:33 AM | Add Comment

Libya - Map - NY Times

Posted by J.M. Hamilton Blog at 3/28/2011 6:32 AM | Add Comment

Germany: "Voter turnout on a warm and mild early spring day in both states was higher than four years ago, election officials said."

Posted by J.M. Hamilton Blog at 3/27/2011 12:47 PM | Add Comment

"Because that which does not kill us makes us stronger—especially since credit-default-swap spreads on major U.S. companies didn't budge during the recent excitement..."

Posted by J.M. Hamilton Blog at 3/27/2011 8:38 AM | Add Comment

"Housing data set another record last week—another record low. February sales of new one-family homes ran at their lowest level (an annualized 250,000) since sales records began in 1963." SOLUTION: MARK TO MARKET ACCOUNTING & JOBS

Posted by J.M. Hamilton Blog at 3/27/2011 8:28 AM | Add Comment

“The industry is trying to do an end run around the F.D.I.C.,” said Christopher Whalen, publisher of the Institutional Risk Analyst. “This proposal is about restarting the Wall Street assembly line for selling toxic waste to investors.”

Posted by J.M. Hamilton Blog at 3/27/2011 7:59 AM | Add Comment

"Mr. Nishiyama also said that radioactive iodine in seawater just outside the plant had risen to 1,850 times the usual level on Sunday, up from 1,250 on Saturday."

Posted by J.M. Hamilton Blog at 3/27/2011 7:51 AM | Add Comment

"Syria, however, is the more urgent crisis — ...if Mr. Assad carries out a crackdown like that of his father and predecessor, Hafez al-Assad, who ordered a bombardment in 1982 that killed at least 10,000 people in the northern city of Hama."

Posted by J.M. Hamilton Blog at 3/27/2011 7:39 AM | Add Comment

"Over the last two decades, AT&T employees and its political action committees have pumped more campaign contributions into federal politics than any other American corporation..."

Posted by J.M. Hamilton Blog at 3/27/2011 7:38 AM

Sorry, Wrong Number!

Posted by J.M. Hamilton Blog at 3/26/2011 7:19 PM | Add Comment

"All of which suggests that, among other things, we'd better get used to paying a proper ransom at the pump every time we fill up the old jalopy."

Posted by J.M. Hamilton Blog at 3/26/2011 8:49 AM | Add Comment

Arbitrage Radioactive Supply Lines!?.

Posted by J.M. Hamilton Blog at 3/26/2011 8:35 AM | Add Comment

PHILADELPHIA

Posted by J.M. Hamilton Blog at 3/26/2011 8:33 AM | Add Comment

“There is a huge number of victims, in part because these Native American communities were remote and vulnerable, and in part because of a policy by the Jesuits, even though they deny it, of sending problem priests to these far-off regions.”

Posted by J.M. Hamilton Blog at 3/26/2011 8:31 AM | Add Comment

"Philadelphia passed with flying colors, said Teresa M. Kettelkamp, executive director of the bishops’ Secretariat of Child and Youth Protection, which issues the annual audit reports."

Posted by J.M. Hamilton Blog at 3/26/2011 8:26 AM | Add Comment

"...Prime Minister Naoto Kan dodged a reporter’s question about whether the government was ordering a full evacuation..."

Posted by J.M. Hamilton Blog at 3/26/2011 8:20 AM | Add Comment

"That the Fed, a government agency that engages in Soviet-style central price fixing in an attempt to command and control the economy, has avoided answering directly to the public this long is amazing."

Posted by J.M. Hamilton Blog at 3/25/2011 7:25 PM | Add Comment

PIRATES!

Posted by J.M. Hamilton Blog at 3/25/2011 7:22 PM | Add Comment

Debt Securitization on Trial...

Posted by J.M. Hamilton Blog at 3/25/2011 7:19 PM | Add Comment

"...I don’t know who else would want it.”

Posted by J.M. Hamilton Blog at 3/25/2011 7:13 PM | Add Comment

Got GOLD? “If you ask me if the U.S. dollar is going to hold its purchasing power fully at the level of 2011, 5 years, 10 years or 20 years from now, I would tell you it will not.”

Posted by J.M. Hamilton Blog at 3/25/2011 7:06 PM | Add Comment

“I want the balance sheet smaller,” Plosser.

Posted by J.M. Hamilton Blog at 3/25/2011 6:58 PM | Add Comment

In Brussels, a protestor's sign reads, "We shouldn't have to pay for their crisis."

Posted by J.M. Hamilton Blog at 3/25/2011 5:56 AM | Add Comment

"A bailout of Portugal — perhaps to the tune of 80 billion euros ($113 billion) — remains the most likely if not the safest possibility, because it could prove to be another stop-gap measure that might not keep the crisis from spreading."

Posted by J.M. Hamilton Blog at 3/25/2011 5:54 AM | Add Comment

"China’s nuclear safety agency has met since the Japanese earthquake and reviewed the Shidao’s project plans and site preparation, and has indicated it will be the next project to receive safety clearance."

Posted by J.M. Hamilton Blog at 3/25/2011 5:48 AM | Add Comment

"Critics say the use of so many shelters amounts to corporate welfare, allowing G.E. not just to avoid taxes on profitable overseas lending but also to amass tax credits and write-offs..."

Posted by J.M. Hamilton Blog at 3/25/2011 5:27 AM | Add Comment

"Economists say it could take years before sales return to a healthy pace."

Posted by J.M. Hamilton Blog at 3/24/2011 7:06 PM | Add Comment

QE2 In Action: "The regime is under serious pressure,” he said, “and it’s hard to predict where this may lead.”

Posted by J.M. Hamilton Blog at 3/24/2011 6:59 PM | Add Comment

"Tiny radiation particles have also spread on the wind and been found as far away as Iceland, although experts say they are not dangerous."

Posted by J.M. Hamilton Blog at 3/24/2011 6:52 PM | Add Comment

T. BOONE & T. KEENE !!!

Posted by J.M. Hamilton Blog at 3/24/2011 6:45 PM | Add Comment

“The Federal Reserve will continue to review its communications practices in the interest of ensuring accountability and increasing public understanding.”

Posted by J.M. Hamilton Blog at 3/24/2011 6:41 PM | Add Comment

"... anyone who buys the January $50 call that expires in 2013 will make a 100% return if the stock trades at $64.40 by January 2013."

Posted by J.M. Hamilton Blog at 3/24/2011 6:29 PM | Add Comment

"Mankind shall not be crucified on a cross of gold." Nor a Cross of Derivatives Contracts!

Posted by J.M. Hamilton Blog at 3/24/2011 6:14 PM | Add Comment

"The fund will buy long-dated options it considers cheap in global currency, fixed-income, equities and commodity markets, betting that rare and unforeseen events will generate unusually large profits."

Posted by J.M. Hamilton Blog at 3/24/2011 5:20 AM | Add Comment

“The market will deteriorate in the absence of other measures going through. There is obviously the risk of further downgrades, which will become anticipated by the markets and be a self-fulfilling prophecy.”

Posted by J.M. Hamilton Blog at 3/24/2011 5:14 AM | Add Comment

“It was a deal with the devil.”

Posted by J.M. Hamilton Blog at 3/24/2011 5:08 AM | Add Comment

"The health warning that infants should not drink tap water — even in Tokyo, far from the stricken plant — raised alarms about extensive contamination."

Posted by J.M. Hamilton Blog at 3/23/2011 8:27 PM | Add Comment

"The Goldman CEO's appearance on the witness stand for more than three hours on Wednesday intensified the focus on what is already the largest Wall Street insider trading case..."

Posted by J.M. Hamilton Blog at 3/23/2011 8:19 PM | Add Comment

"The Fed's objections, raised as part of the latest round of stress tests conducted to determine the financial health of the nation's largest banks, are being viewed by the market as a setback in the bank's (BOA's) recovery plan."

Posted by J.M. Hamilton Blog at 3/23/2011 8:08 PM | Add Comment

"Indeed, since Bernanke floated the idea of additional purchases of Treasuries last August, the value of the U.S. stock market has ballooned by 25%, or $3.2 trillion, according to Wilshire Associates."

Posted by J.M. Hamilton Blog at 3/23/2011 7:59 PM | Add Comment

Perhaps manufacturing in America is the answer? "But Apple, like other technology companies, is at risk of being buffeted by the unfolding crisis in Japan."

Posted by J.M. Hamilton Blog at 3/23/2011 5:28 AM | Add Comment

“There is some balancing in the market,” said Marvin E. Odum, president of Shell Oil Company.

Posted by J.M. Hamilton Blog at 3/23/2011 5:23 AM | Add Comment

Forty Years of Folly: The Failure of U.S. Energy Policy

Posted by J.M. Hamilton Blog at 3/22/2011 8:31 PM | Add Comment

"Seawater readings showed Cesium-134 was 25 times normal and Cesium-137 was 17 times higher, Tokyo Electric said. Cobalt has also been detected."

Posted by J.M. Hamilton Blog at 3/22/2011 8:25 PM | Add Comment

That way it (the Treasury) could withdraw without admitting defeat.

Posted by J.M. Hamilton Blog at 3/22/2011 7:17 PM | Add Comment

Where's the FTC, Justice Department and the SEC when you need them? "The bottom line, they said, is that competition is likely to suffer, leading to higher prices and less innovation."

Posted by J.M. Hamilton Blog at 3/22/2011 5:51 AM | Add Comment

"The resolution demands an immediate cease-fire by Colonel Qaddafi’s forces and an end to attacks on civilians."

Posted by J.M. Hamilton Blog at 3/22/2011 5:47 AM | Add Comment

“The Japanese public has become accustomed to receiving no information.”

Posted by J.M. Hamilton Blog at 3/21/2011 8:34 PM | Add Comment

In a symbolic boost for Japan, billionaire investor Warren Buffett said the quake and tsunami were an "enormous blow" but also presented a "buying opportunity" given recovery prospects.

Posted by J.M. Hamilton Blog at 3/21/2011 8:21 PM | Add Comment

Radiation Dose Chart

Posted by J.M. Hamilton Blog at 3/21/2011 8:12 PM | Add Comment

"Potassium iodide can help prevent thyroid cancer by reducing the chance that radioactive iodine will be absorbed by the thyroid gland."

Posted by J.M. Hamilton Blog at 3/21/2011 8:02 PM | Add Comment

"As the assault unfolded late Sunday, an explosion thundered from Colonel Qaddafi’s personal compound in Tripoli, and a column of smoke rose above it, suggesting that the allied forces may have struck either his residence there or the nearby barracks of h

Posted by J.M. Hamilton Blog at 3/21/2011 7:54 PM | Add Comment

"After all, conservatives hailed the debt boom of the Bush years as a triumph of free-market finance right up to the moment it turned into a disastrous bust."

Posted by J.M. Hamilton Blog at 3/21/2011 7:26 PM | Add Comment

Globalism Unhinged? "Now tsunamis, radioactive plumes, Middle East revolutions, a new round of the European debt crisis and a still weakened United States economy could derail a tenuous bounceback in the United States, Europe and Japan."

Posted by J.M. Hamilton Blog at 3/21/2011 6:54 AM | Add Comment

"France had 'decided to assume its role, its role before history' in stopping Colonel Qaddafi’s 'murderous madness,' Mr. Sarkozy said..."

Posted by J.M. Hamilton Blog at 3/20/2011 8:35 PM | Add Comment

"Iran and Syria, close allies, deny ever harboring nuclear weapons ambitions."

Posted by J.M. Hamilton Blog at 3/20/2011 8:33 PM | Add Comment

"An x-ray typically has 50 micrograys of radiation."

Posted by J.M. Hamilton Blog at 3/20/2011 8:21 PM | Add Comment

"Market discipline of systemically important banks, while it exists, has been ineffective in preventing the emergence of systemically huge banks worldwide. A main reason for this may be that bank managers..."

Posted by J.M. Hamilton Blog at 3/20/2011 6:37 AM | Add Comment

"The nuke plants supply 20% of the country's power needs, and most of them are more than 30 years old."

Posted by J.M. Hamilton Blog at 3/20/2011 6:32 AM | Add Comment

“The market right now is trying to wrap its arms around the enormity,” he said.

Posted by J.M. Hamilton Blog at 3/20/2011 6:26 AM | Add Comment

“For the first time in my life, people are not talking about soccer all the time but about constitutional amendments, which means the country will have a different future than its past.”

Posted by J.M. Hamilton Blog at 3/20/2011 6:18 AM | Add Comment

"But we can’t stand idly by when a tyrant tells his people that there will be no mercy.”

Posted by J.M. Hamilton Blog at 3/19/2011 8:24 PM | Add Comment

"How has the European-led coalition translated the UNSC authorization into military objectives, and what are the operational parameters and rules of engagement that govern them?"

Posted by J.M. Hamilton Blog at 3/19/2011 1:41 PM | Add Comment

"'With a post-crisis world getting hit by one shock after another and with central banks having no latitude to cut interest rates, it's not hard to envision a scenario of' unlimited monetary expansion that winds up in tears."

Posted by J.M. Hamilton Blog at 3/19/2011 10:15 AM | Add Comment

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