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Tag Archives: Treasury

Kite flying

From FT Alphaville some comments from Tullett Prebon economist Lena Komileva on the similarities and differences between the growing Euro sovereign contengion and Lehman’s collapse… Basically she’s saying it’s an order of magnitude bigger this time… or maybe two orders of magnitude… ~~~ “…The current episode of the global crisis is similar to the crisis mechanism […]

Treasury Secretary Geithner’s “Proposed OTC Act created new and significant loopholes”

From Michael Greenberger, former CFTC General Counsel, at the  Make Markets Be Markets conference. (HT Credit Risk Chronicles) Pending Derivatives Legislation and Legislative Proposals The Obama Administration White Paper In response to the catastrophic systemic failure caused by unregulated derivatives, the Obama Administration in its June 2009 White Paper proposed that all standardized OTC derivatives be subject to […]

California is 1/8 the economy

From Jesse’s Cafe a useful view into the relative contribution of states to GDP… Who will backstop California?

Democrats To Seek Stunning $1.9 Trillion Increase In Debt Ceiling To $14.3 Trillion

From Dow Jones (HT ZeroHedge): ~~~ “Senate Democrats are to seek an increase to the federal government’s borrowing limit by $1.9 trillion lifting the total amount the U.S. government can owe to $14.294 trillion, several congressional aides said Wednesday. The increase is forecast to support the federal government’s borrowing needs the end of 2010, one […]

The heavy roll is coming…

Thanks to ZeroHedge we can see the dispersion of Treasury debt… The front end looks particularly heavy… Here is how ZeroHedge summarizes the conditions we face on the debt front… ~~~ “What emerges is a unique picture of the evolving nature of Treasury debt, its extensive and recent growth and a clear picture of the […]

Decade of debt…

From the FT … US GDP (purchasing power parity): $14.29 trillion (2008 est.) $14.11 trillion (2007) $13.83 trillion (2006) Well… inflation now?

We’ve stuffed all the problems in the closet…

An unknown Wall Streeter says that Treasury Secretary Geithner and the Obama economic team are the Emperor with no clothes…  if this guy is saying it… everyone is saying it… From Bloomberg… Doug Dachille, chief executive officer of First Principles Capital Management LLC, talks with  Pimm Fox about the U.S. government’s decision to provide additional aid to GMAC […]

The $5.5 trillion can kicked down the road…

Astounding move on the part of the US Treasury to announce these changes to the government sponsored entities on Christmas Eve… unfortunately it echoes all the late Sunday night moves made when Tim Geithner was President of the Federal Reserve Bank of New York like the conversion to bank holding companies of Goldman Sachs and […]

`Fundamental Questions’ on Derivatives Plan

Hal Scott, a Harvard Law School professor and director of the Committee on Capital Markets Regulation, talks with Bloomberg’s Margaret Brennan about Treasury Secretary Tim Geithner’s plan to overhaul the financial regulatory system. Geithner was on Capitol Hill today to discuss proposals to revamp the way derivatives are regulated. He said the U.S. should require […]

Secretary Geithner should resign

I first published this post on November 21, 2009… I believe it is even more the case now. Timothy Geithner serves Wall Street. Our economy and nation will not be repaired until the control of Wall Street over the government, the Federal Reserve and the nation is broken. US Treasury Secretary Geithner should resign from office. […]