... admits the BBA . ``We have not run away or hidden from the need for reform or the need for review’’ of ``serious issues’’ in the U.K. financial-services industry, British Bankers’ Association Chief Executive Officer Angela Knight said at a hearing of a parliamentary committee in London today.’’ The BBA is set to announce the results of its most far-reaching review of the way it sets the London interbank offered rate in a decade on May 30. (via Alea )
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Billions and billionsFrom: rss.feedsportal.com
Post Date: 2008-03-26 18:02:24
Latest rumbles from the Bernanke Money Geyser - borrowings under the PDCF are at
$28.8
billion ( WOW , comments alea).
Just to remind everyone that some or all of that is secured against RMBS. ...
more Talking down Bear StearnsFrom: rss.feedsportal.com
Post Date: 2008-03-19 11:34:31
Bear Stearns was blaming "market rumours" for its problems last week - was it
correct? Bloomberg
reports (via Alea )
that the SEC and the NYSE are investigating the possibility that the bank was
talked down deliberately: ...
more Is the Fed losing its relevance?From: rss.feedsportal.com
Post Date: 2008-03-18 18:27:41
As the Fed cuts rates by 75bp (for a total this week of 100bp)...
Nouriel Roubini writes :
This is the worst US financial crisis since the Great Depression
and the Fed is treating it as if it was only a liquidity crisis. But this is
not just a liquidity crisis; it is rather a credit and insolvency crisis. And
it is not the job of the Fed to bail out insolvent non-bank financial
institutions. If a bail out should occur this is a fiscal policy action that
should be decided by C...
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