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Monthly Archives: January 2010

Populism I

In the recent debates in Washington the term “Populism” has been derided… Personally I believe it is our only hope for the continuation and success of our nation going forward. Populism is the counterweight to corporatism… and I think the nation has had enough of that… I’ll be writing about it here and there… but […]

Multiple years of deleveraging from here…

In the bond markets Cantor has always been known as the “outer boro guys”…. never a fancy shop like Goldman or Morgan Stanley… but they were a dominant broker before 9/11 wiped out the majority of their employees… it’s good to see them hunting around for new products to make markets and service customers… In […]

If we focus our banks on small enterprises that will make our economy more dynamic

Upward to insolvency?

Bloomberg reports on the Senate’s failure on it’s first try to address the burgeoning fiscal crisis facing the United States. The Senate voted 53-46 against legislation that would have mandated that Congress adopt recommendations made by a newly created budget panel. This panel could have recommended tax increases, changes in entitlements or other structural changes. First strike for […]

Bernanke and AIG

Would someone please ask Chairman Bernanke about the remaining $1.6 trillion notional outstanding exposure of AIG and the American taxpayer?

Lucian Bebchuk of Harvard has made the best rebuttal to Chairman Bernanke’s defense of AIG counterparty payments at 100 cents on the dollar… but no one seems to be focused on the remaining CDS exposure of $1.6 trillion that AIG and the US taxpayers have… I think this might be an important point before the […]

The Euro “big boy” view of the Obama plan

From Bloomberg… “Florian Esterer, a fund manager at Swisscanto Asset Management, and Dirk Becker, an analyst at Kepler Capital Markets, talk about President Barack Obama’s plan to curb U.S. banks. They also speak with Bloomberg’s Rishaad Salamat about today’s meeting of Group of Seven finance ministers in London. ” Here is the press release from […]

Bankers to lobby at Davos for softer reforms

At the House Financial Services Committee hearing last week Chairman Barney Frank mentioned that he would be attending the World Economic Forum in Davos and have a chance to discuss coordinating global financial regulation with officials from other countries… all to the good… The Financial Times is reporting another variety of lobbying that the banks are […]

Paulson, Bernanke and foreign banks

In this short clip from the Senate Banking Committee hearing of September 23, 2008 Senator Evan Bayh questions Secretary Paulson about why they will support foreign banks. Secretary Paulson says it’s on behalf of American taxpayers and Chairman Bernanke explains that these are efforts to prop up prices in markets. From Bloomberg… ~~~ “… The […]

Volcker heavy…

Clipping part of an excellent post from ZeroHedge (ZH) on Paul Volcker and his broader view of the need for reform in the financial sector. ZH extracts the main themes of the proposed reforms from a whitepaper called “Financial Reform – A Framework for Financial Stability” (published January 15, 2009).. Mr. Volcker did this work as […]