BLOG.JMHAMILTONPUBLISHING.COM: Monthly Archives for July 2011

Stealth Coup

Posted by J.M. Hamilton Blog at 7/31/2011 8:54 PM | Add Comment

The Best Reason to Watch HBO: Bill Maher!

Posted by J.M. Hamilton Blog at 7/31/2011 8:04 PM | Add Comment

"Alas, even if we can avoid an immediate default, we may not be able to avoid a downgrade of our much-vaunted triple-A credit rating."

Posted by J.M. Hamilton Blog at 7/31/2011 5:42 AM | Add Comment

"Market wisdom says record prices should undermine investor enthusiasm for gold, but there is little evidence of this so far."

Posted by J.M. Hamilton Blog at 7/31/2011 5:38 AM | Add Comment

"The real message is that the U.S. economy has been dead in the water in 2011."

Posted by J.M. Hamilton Blog at 7/31/2011 5:35 AM | Add Comment

"The carrier said its planned takeover of T-Mobile USA Inc., which has yet to be approved by regulators, will address capacity problems."

Posted by J.M. Hamilton Blog at 7/31/2011 5:32 AM | Add Comment

"At the end of the day the one thing they’re absolutely certain of — they’re going to hate these Republican candidates,” Mr. Mellman said. “So I’m not honestly all that worried about a solid or enthusiastic base.”

Posted by J.M. Hamilton Blog at 7/31/2011 5:26 AM | Add Comment

"The experience of other nations that have been downgraded, including Japan and Canada, both downgraded more than a decade ago, suggests that investors do not necessarily react by demanding higher interest rates."

Posted by J.M. Hamilton Blog at 7/31/2011 5:22 AM | Add Comment

"Among the attendees were Henry Kravis, the private equity titan, Gary Cohn of Goldman Sachs, Robert Wolf of UBS, and the hedge fund managers John Paulson and Paul Singer."

Posted by J.M. Hamilton Blog at 7/31/2011 5:20 AM | Add Comment

"Wall Street is worried that America’s gilt-edged rating will slip away."

Posted by J.M. Hamilton Blog at 7/31/2011 5:15 AM | Add Comment

"Straight women were physically aroused by everything, including the bonobos, but their self-reports often contradicted what the sensors measured."

Posted by J.M. Hamilton Blog at 7/31/2011 5:12 AM | Add Comment

"Congress should vote to extend the federal unemployment benefits program and the payroll tax cut for employees."

Posted by J.M. Hamilton Blog at 7/31/2011 5:09 AM | Add Comment

“Grand Bargain”

Posted by J.M. Hamilton Blog at 7/31/2011 5:06 AM | Add Comment

"So," he laments, "this is not about any particular soft patch -- the entire recovery has been a soft patch."

Posted by J.M. Hamilton Blog at 7/30/2011 8:12 AM | Add Comment

"Closing loopholes would have been a good way for Democrats and Republicans to have declared victory at the same time."

Posted by J.M. Hamilton Blog at 7/30/2011 8:10 AM | Add Comment

“Turkey has grown out of that,” he said.

Posted by J.M. Hamilton Blog at 7/30/2011 8:08 AM | Add Comment

“The county created the mess,” Mr. Mordecai said. “Now we have to pay it back.”

Posted by J.M. Hamilton Blog at 7/30/2011 8:05 AM | Add Comment

"Large natural gas companies, including Chesapeake Energy, EOG Resources and the Petrohawk Energy Corporation, did not return calls seeking comment."

Posted by J.M. Hamilton Blog at 7/30/2011 8:04 AM | Add Comment

“The hardest moment was to look my leadership in the eye and tell them ‘No sir.’ ”

Posted by J.M. Hamilton Blog at 7/30/2011 8:01 AM | Add Comment

“Uncertainty over the debt ceiling has been radioactive,” Mr. Goolsbee said. “You certainly don’t want to give yourself multiple doses in a short period of time.”

Posted by J.M. Hamilton Blog at 7/30/2011 7:59 AM | Add Comment

“The governments of this world, especially in the West, are not prepared for a second financial crisis.”

Posted by J.M. Hamilton Blog at 7/30/2011 7:55 AM | Add Comment

"In the heated battle for technology patents, Google is using its checkbook to bulk up."

Posted by J.M. Hamilton Blog at 7/30/2011 7:54 AM | Add Comment

"Ian Sheperdson, chief U.S. economist of High Frequency Economics, estimates the Treasury will garner about $175 billion in revenues in August and will face $320 billion in spending to meet its obligations."

Posted by J.M. Hamilton Blog at 7/29/2011 10:33 PM | Add Comment

Under what is known as the “in pari delicto” or “unclean hands” rule, one wrongdoer cannot sue another wrongdoer for any harm caused by the misconduct.

Posted by J.M. Hamilton Blog at 7/29/2011 10:29 PM | Add Comment

At the heart of this system was a great deal of “moral hazard”...

Posted by J.M. Hamilton Blog at 7/29/2011 10:24 PM | Add Comment

"Such deals also seem to go down better with some investors who have been particularly critical of the so-called "pass the parcel" deals..."

Posted by J.M. Hamilton Blog at 7/29/2011 10:22 PM | Add Comment

"Disclosure goes against the grain of the asset management industry, with information on pay seen as highly market sensitive."

Posted by J.M. Hamilton Blog at 7/29/2011 10:20 PM | Add Comment

"Deutsche Bank reported a 155 million-euro impairment in its Greek debt holdings in second-quarter results this week."

Posted by J.M. Hamilton Blog at 7/29/2011 10:18 PM | Add Comment

"At the same time, if you have Goldman on your resume, that's still a premium. People are monetizing the Goldman premium now because two years from now you won't be able to."

Posted by J.M. Hamilton Blog at 7/29/2011 10:16 PM | Add Comment

"Under the blue-sky laws, plaintiffs don’t have to prove that there was a fraud committed, only that the defendants made untrue statements..."

Posted by J.M. Hamilton Blog at 7/29/2011 10:14 PM | Add Comment

“It’s a lose-lose proposition.”

Posted by J.M. Hamilton Blog at 7/29/2011 6:22 AM | Add Comment

"Wisdom doesn’t necessarily reside in the middle of the road, and I want leaders who do the right thing, not the centrist thing."

Posted by J.M. Hamilton Blog at 7/29/2011 6:17 AM | Add Comment

"A federal judge ruled on Thursday that the bankruptcy trustee trying to recover billions for those who lost money in Bernard L. Madoff’s enormous Ponzi scheme did not have the right to sue banks..."

Posted by J.M. Hamilton Blog at 7/29/2011 6:16 AM | Add Comment

“And Japan.”

Posted by J.M. Hamilton Blog at 7/29/2011 6:15 AM | Add Comment

“If you downgrade the securities you have to put more up for collateral and that affects pretty much everybody out there who has held these in reserve. I don’t care if you’re a bank, insurance company, exchange or clearinghouse.”

Posted by J.M. Hamilton Blog at 7/29/2011 6:13 AM | Add Comment

“So far, we haven’t detected an impact on our business from Amazon Prime,” the letter from Netflix stated.

Posted by J.M. Hamilton Blog at 7/29/2011 6:10 AM | Add Comment

"Nintendo’s earlier hand-held, the DS, started out with similarly sluggish sales."

Posted by J.M. Hamilton Blog at 7/29/2011 6:08 AM | Add Comment

"Rather than seize this opportunity, Pakistan’s leaders have stoked intolerance, anti-Americanism and an exaggerated fear of India."

Posted by J.M. Hamilton Blog at 7/29/2011 6:06 AM | Add Comment

"U.S. reports gave an indication of the malaise besetting the economy."

Posted by J.M. Hamilton Blog at 7/28/2011 9:43 PM | Add Comment

"Pick the wrong puts or calls and the trade structure may cost you money rather than save you money."

Posted by J.M. Hamilton Blog at 7/28/2011 9:40 PM | Add Comment

"Ultimately, the final say on whether the CDS will be triggered rests with a regional committee convened by the International Swaps and Derivatives Association, a trade group."

Posted by J.M. Hamilton Blog at 7/28/2011 9:37 PM | Add Comment

With its "Fight the Merger" campaign, Bursor & Fisher is seeking to stop the mega-deal by inundating AT&T with arbitration claims.

Posted by J.M. Hamilton Blog at 7/28/2011 9:33 PM | Add Comment

"Critics charge that less competition will increase prices and limit consumer choice."

Posted by J.M. Hamilton Blog at 7/28/2011 9:32 PM | Add Comment

Letter: Forum Letter to President Obama and Congress on Nation’s Debt

Posted by J.M. Hamilton Blog at 7/28/2011 9:29 PM | Add Comment

Just like a Letter of Credit...

Posted by J.M. Hamilton Blog at 7/28/2011 9:28 PM | Add Comment

"Without a rating from the agency, the deal was doomed."

Posted by J.M. Hamilton Blog at 7/28/2011 9:26 PM | Add Comment

“I think they will earn their way out of this terrible malaise that has hit them because of the banks.”

Posted by J.M. Hamilton Blog at 7/28/2011 9:25 PM | Add Comment

“My concerns center on the possibility that senior Department of Education staffers may have provided information to short-sellers during the time leading up to the public release”

Posted by J.M. Hamilton Blog at 7/28/2011 9:21 PM | Add Comment

"Italy is also plagued by an incorrigible black market that is estimated to make up 20 percent of the economy and that exists partly because of the market’s dysfunctions."

Posted by J.M. Hamilton Blog at 7/28/2011 9:11 PM | Add Comment

"Exxon’s purchase of XTO Energy last year to become the nation’s biggest natural gas producer has been questioned by some investors in light of low gas prices..."

Posted by J.M. Hamilton Blog at 7/28/2011 8:47 PM | Add Comment

"And at some of the world’s lowest prices – last month natural gas was selling for 40 percent less in the U.S. than in Europe."

Posted by J.M. Hamilton Blog at 7/28/2011 7:22 AM | Add Comment

Dodd-Frank Wall Street Reform and Consumer Protection Act

Posted by J.M. Hamilton Blog at 7/28/2011 5:47 AM | Add Comment

The Bush Deficit...

Posted by J.M. Hamilton Blog at 7/28/2011 5:41 AM | Add Comment

"Greece will become a serial defaulter because the amount of debt reduction that’s proposed is not really adequate.”

Posted by J.M. Hamilton Blog at 7/28/2011 5:38 AM | Add Comment

"The financial services unit had an operating income of 28.7 billion yen in the first quarter."

Posted by J.M. Hamilton Blog at 7/28/2011 5:36 AM | Add Comment

"Net income rose to $8.66 billion from $4.39 billion a year earlier..."

Posted by J.M. Hamilton Blog at 7/28/2011 5:31 AM | Add Comment

"It is only a matter of time..."

Posted by J.M. Hamilton Blog at 7/28/2011 5:25 AM | Add Comment

"Republican members of the panel also asked Mr. Sharma whether Treasury Department officials had pressured the company not to downgrade the United States credit rating."

Posted by J.M. Hamilton Blog at 7/28/2011 5:20 AM | Add Comment

“You’re basically running on fumes from midnight Aug. 2 forward.”

Posted by J.M. Hamilton Blog at 7/28/2011 5:14 AM | Add Comment

“I could have waited until the report came out,” Mr. Hall said in an interview. “That seems intellectually less than satisfactory with me.”

Posted by J.M. Hamilton Blog at 7/28/2011 5:13 AM | Add Comment

“These are our safe havens, not U.S. Treasuries,” he said. “You’ve got to hold your positions with conviction and concentrate on the fixed points on the horizon.”

Posted by J.M. Hamilton Blog at 7/28/2011 5:10 AM | Add Comment

"It will be an uphill battle to take on Apple and the others, Mr. Rosenblatt said, but he would not count Amazon out."

Posted by J.M. Hamilton Blog at 7/28/2011 5:08 AM | Add Comment

"It shouldn’t take much more personal growth to make the right call."

Posted by J.M. Hamilton Blog at 7/28/2011 5:06 AM | Add Comment

"With a wave of his pen, Lincoln freed tens of thousands of slaves and opened the Army to blacks..."

Posted by J.M. Hamilton Blog at 7/28/2011 5:03 AM | Add Comment

"This merger is actually a tangled web."

Posted by J.M. Hamilton Blog at 7/27/2011 10:16 PM | Add Comment

"That’s a breakdown in capitalism.”

Posted by J.M. Hamilton Blog at 7/27/2011 10:11 PM | Add Comment

“We view the proposed restructuring as a ‘distressed exchange’ because, based on public statements by European policy makers, it is likely to result in losses for commercial creditors.”

Posted by J.M. Hamilton Blog at 7/27/2011 10:04 PM | Add Comment

“You cannot arrest an idea,” Topiary wrote.

Posted by J.M. Hamilton Blog at 7/27/2011 10:03 PM | Add Comment

"The last few weeks may have tended to reduce the chance that Mr. Obama will retain the White House, while also reducing the chance that Republicans will retain the House."

Posted by J.M. Hamilton Blog at 7/27/2011 10:00 PM | Add Comment

"Geithner said in a statement that Warren had done an extraordinary job in getting the bureau running."

Posted by J.M. Hamilton Blog at 7/27/2011 9:46 PM | Add Comment

“Ultimately, we have to stop borrowing and continuing to print paper money,” Fuchs said.

Posted by J.M. Hamilton Blog at 7/27/2011 9:44 PM | Add Comment

“We had expected a writedown of double that based on the 21 percent haircut outlined by the Institute of International Finance.”

Posted by J.M. Hamilton Blog at 7/27/2011 9:41 PM | Add Comment

"Wells Fargo contends it should be rewarded for having fewer risky or delinquent mortgages than the other two, people familiar with the matter said."

Posted by J.M. Hamilton Blog at 7/27/2011 9:38 PM | Add Comment

"So far this year, 21 private equity-backed companies have gone public in the United States, representing about 22 percent of the overall I.P.O. market and more than half of all proceeds..."

Posted by J.M. Hamilton Blog at 7/27/2011 9:35 PM | Add Comment

"Draconian deficit cuts could stifle the economy, which already is faltering."

Posted by J.M. Hamilton Blog at 7/27/2011 6:47 AM | Add Comment

"Analysts have been modeling $846.5 million and $1.09, but attrition related to its new price increase appears to be taking a higher toll than analyst forecasts accounted for."

Posted by J.M. Hamilton Blog at 7/27/2011 6:45 AM | Add Comment

"As climate change produces earlier snowmelts, sending too much of the water into reservoirs in the spring and too little in summer, the need for storage grows."

Posted by J.M. Hamilton Blog at 7/27/2011 6:41 AM | Add Comment

REMORSE??? "The U.S. Chamber of Commerce, which spent millions of dollars last year helping elect Republicans to Congressional seats, is struggling to convince the House it helped to build that the debt ceiling must be increased."

Posted by J.M. Hamilton Blog at 7/27/2011 6:39 AM | Add Comment

A Happier Meal...

Posted by J.M. Hamilton Blog at 7/27/2011 6:37 AM | Add Comment

"Cable channels like ESPN and CNN are implementing a similar model, which requires an individual to authenticate that they are a cable or satellite customer before streaming a show or a channel."

Posted by J.M. Hamilton Blog at 7/27/2011 6:35 AM | Add Comment

There’s plenty of money to pay off our debt and cover all of our Social Security obligations.” - Rep Joe Walsh, Republican, IL

Posted by J.M. Hamilton Blog at 7/27/2011 6:33 AM | Add Comment

"That has made U.S. Treasuries the risk-free asset that has provided a safe haven during times of distress. There is no ready or obvious substitute."

Posted by J.M. Hamilton Blog at 7/26/2011 7:53 PM | Add Comment

"The data showed that prices in Detroit, Las Vegas and Tampa reached new lows, down nearly 50 percent or more since the peaks of 2005-6, the survey shows."

Posted by J.M. Hamilton Blog at 7/26/2011 7:51 PM | Add Comment

"U.S. regulators, after months of study, concluded that a computer-driven sale worth $4.1 billion by a single trader in the futures market helped trigger the flash crash."

Posted by J.M. Hamilton Blog at 7/26/2011 7:44 PM | Add Comment

"The bank took a 132 million euro charge to reflect the decline in value of its Greek bonds, and said that trading revenue was hurt by the uncertainty created by the sovereign debt crisis in Europe."

Posted by J.M. Hamilton Blog at 7/26/2011 7:42 PM | Add Comment

"Lehman filed for bankruptcy in 2008 with assets of $639 billion."

Posted by J.M. Hamilton Blog at 7/26/2011 7:40 PM | Add Comment

"The U.S. is a AAA. The question is whether the U.S. can maintain a AAA.”

Posted by J.M. Hamilton Blog at 7/26/2011 6:24 AM | Add Comment

"Under Republican Party rules, states are stripped of half their delegates to the nominating convention if they jump ahead of the proposed guidelines, while states that adhere to them get additional delegates."

Posted by J.M. Hamilton Blog at 7/26/2011 6:23 AM | Add Comment

"What made the news surprising, of course, was that the Federal Reserve has rarely, if ever, taken action against a bank for making predatory loans."

Posted by J.M. Hamilton Blog at 7/26/2011 6:20 AM | Add Comment

“I’m sure he’s not as interfering as he was 20 years ago, but you can see through the way The Sun and The News of the World operate that his word remains law.”

Posted by J.M. Hamilton Blog at 7/26/2011 6:18 AM | Add Comment

Retro Blog: Genesis: "Under the council will be a Central Intelligence Agency."

Posted by J.M. Hamilton Blog at 7/26/2011 6:16 AM | Add Comment

Retro Blog: Carl Jung and the Duality of Man...

Posted by J.M. Hamilton Blog at 7/26/2011 6:12 AM | Add Comment

“Our business was founded on the idea that a free and open press should be a positive force in society. We need to live up to this.”

Posted by J.M. Hamilton Blog at 7/25/2011 7:05 PM | Add Comment

“This prevents the hit from becoming so large that it paralyzes the banking system.”

Posted by J.M. Hamilton Blog at 7/25/2011 7:02 PM | Add Comment

“The stricter policing of consumer lending products and services will ultimately make banks safer by steering them away from riskier products such as subprime mortgages.”

Posted by J.M. Hamilton Blog at 7/25/2011 7:00 PM | Add Comment

"Macroeconomic Advisers predicts that failing to raise the debt ceiling in time — even if the delay is only one month — will very likely result in a new recession."

Posted by J.M. Hamilton Blog at 7/25/2011 6:58 PM | Add Comment

“I was born this way,” Blankfein sings at the diner.

Posted by J.M. Hamilton Blog at 7/25/2011 10:10 AM | Add Comment

“He was tough,” Greenberg said of Cohn. “Gary got in with the right people, worked his ass off and used his head.”

Posted by J.M. Hamilton Blog at 7/25/2011 10:06 AM | Add Comment

"Goldman Sachs is joining banks raising money in the U.S. bond market even as relative yields on their debt climb."

Posted by J.M. Hamilton Blog at 7/25/2011 10:04 AM | Add Comment

"The Business Roundtable and U.S. Chamber of Commerce petitioned to have the SEC mandate invalidated."

Posted by J.M. Hamilton Blog at 7/25/2011 10:02 AM | Add Comment

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