At least according to the media banter
It comes after the fact, but Chris Dodd has a plan of his own . I’m on the fence about the diversion of profits into the Hope Now plan, primarily because that plan doesn’t seem to be working as is (or you might have heard something other that pins dropping). Why dump money into a half-baked program - instead, return any profits to the Treasury as a dollar-for-dollar reduction in the facility cap. As for congressional appointees overseeing the process - garbage. I’ll bet they won’t find a single appointee that isn’t a political contributor, and that is what is really needed - financially-minded individuals that are truly dis-attached.
Related:
Mark Cuban thinks the assets should be auctioned on eBay . That isn’t really what he is saying, but a similar level of transparency, combined with competitive bidding from outside the Treasury’s pool of funds, is a brilliant idea. The equity...
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This pic, and the link, are from the New Yorker by way of Barry Ritholtz’s indispensable The Big Picture . Ritholtz has been more right than most people about the state of the economy in the recent past, but he doesn’t beat his chest about it too much. He gets labelled a doomsayer when he is more of a Bullshit-caller. He’s smart and funny and writes about macroeconomic issues simply enough that I can understand them, with a little bit of effort. The article excerpte... more
Forbes Appearances From: feedproxy.google.com Post Date: 2008-11-13 13:00:17
Four Engines Driving The Markets
November 12, 2008
Economist says share buybacks, mergers, dividends and earnings are all faltering in the downturn.
Housing Hopes
November 11, 2008
Economist points to California and Florida-two states already seeing an uptick in sales.
Obama: The New FDR?
November 10, 2008
Fusion IQ’s Barry Ritholtz expects Obama to spend big on public works in the next few years.
... more
From dshort.com .
The implied message, I suppose, is that the current crash could easily have a long way to go before it hits bottom. Or not, I suppose.
Barry Ritholtz posted this graph the other day, along with a question: Is the market “cheap”? Not by this measure, anyway.
Obviously we should all be moving into real estate. No, wait… ... more
Barry Ritholtz of The Big Picture, on the National Association of Realtors…
My apologies for lumping in the Realtor’s group with drug abusers. In doing so, I meant no insult to the crackheads of the world…
Heh.
Tagged: National Association of Realtors
... more
I was shooting for a leg amputation instead
The New York Times called for the death of blogging, or maybe that’s death from it. No need to link to it - the echo chamber takes care of all your referencing needs .
While folks throughout the world were keeling over on their keyboards, I was out on a river Sunday. We had sun for about ten seconds, and snow flurries for the other seven hours. The water’s edge was icy, and the water itself was roughly one degree warmer. I made th... more
Paul Kedrosky says Barry Ritholtz is a perma-bear . Mr. Ritholtz’s latest claim, that a short fund manager’s April Fools Day memo caused today’s market rally might lend credence to the claim, but I am not buying it.
One need look no further than the links Mr. Ritholtz points to in his post. Each and every piece of cheerleading which referenced “the memo” has now been wiped clean, meaning the so-called journalists have tacitly admitted to being hoodwinked.
... more
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