Talk about a case of mania! How are we down 7% one day and up almost 5% the next? Aren’t emerging markets supposed to act like this? Right now it’s the Wild, Wild West out there. Wall Street is running around like the proverbial chicken without a head. ...
A couple of weeks ago, I wrote an article titled . In the spirit of balance, I want to give the same treatment if Obama should win. To date, the Obama camp has promised more taxes on the rich, windfall profit taxes on oil companies, higher corporate ...
This week's article will be short and to the point. I’m at the Republican National Convention and so far there is not a whole lot to report on. To date, Hurricane Gustav has had everybody focused on issues bigger than politics. However, as the Gulf ...
The pain in housing continues unabated. Fannie (FNM) and Freddie (FRE) are knee deep in the muck and are tightening lending standards at the absolute wrong time in the cycle. Even with explicit government guarantees these guys are wrapped in a cloak of ...
Over the last week or so we’ve seen many major Wall Street firms take huge hits on Auction Rate Securities. UBS, Lehman (LEH), Merrill (MER) and Morgan Stanley (MS) have all agreed to buy back tens of billions of dollars worth of these securities from ...
Today’s article will be short and sweet, and essentially an affirmation of what both Chris Rowe and I are seeing in the U.S. markets. The beat goes on. After a little scare to the bulls, the market roared back Tuesday on the back of weak oil prices ... ...
Boy oh boy, crude oil sure did an about face didn’t it? We’ve seen spot market oil collapse from $147 to $128 in a heartbeat. And it's these declining crude oil prices -- along with the Fannie (FNM) and Freddie (FRE) bail out plan -- that appear to ...
Part of our job here is to call “Shenanigans” when we see them. Earlier this week, Citigroup (C) announced that they had cut a deal with the Abu Dhabi state-sponsored fund, AIDA, to pump $7.5 billion into the company. This has since been widely hailed ...
Washington Mutual (WM) joins the growing ranks of financial companies caught up in the web of subprime lies. It seems that its appraisal company, First American Corp (FAF), is being sued by the NY Attorney General for inflating home values. The NY AG ...
Some of you might have caught me on the new Fox Business Network Friday morning. Among other things, I was discussing the state of Countrywide Financial (CFC). I wanted to alert investors to this looming financial threat hanging over our credit markets. ...
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