“I am less confident as a decade of hocus-pocus borrowing and lending and 35-to-1 leverage at almost every level in both private and public sectors cannot likely be relieved in the great debt unwind over the course of only 12 months.” -Doug Kass, August 26th 2009 Doug Kass has made some tremendous calls over the…
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Droppin' Knowledge: Matt Horween Unleashed
You guys know how much I love righteous indignation as a writing style. Matt Horween of TheStreet.com is ladling it out thick for anyone with a bowl in his six part op-ed that will run every day this week, enitled Fix America Now. Yesterday’s opener was crackling with skepticism over our military expenses in the…
Will Explosive Taxation Derail the Recovery?
Clearly, there are some areas of the economy that are showing signs of a recovery. What this may mean to stocks, bonds, real estate etc is not the subject of this post. Instead, let’s take a moment to ponder the new emerging headwind that could throw a serious monkey wrench in our recovery hopes for…
The Big Picture Challenges Jim Cramer on the Banks
The Big Picture’s Chris Whalen had this to say about James Cramer‘s table-pounding on US Bancorp (USB), Webster Bank (WBS) et al this morning: I notice that Jim Cramer is yowling on TheStreet.com today, pounding the table on US Bancorp (USB) and Webster Savings Bank (WBS). Jim, how much you want to buy? These institutions are going to…
Breakfast Links: CIT, Jimmy Carter & The Grapes of Wrath
Stuff I’m Reading this Morning… The exact date that the Chinese stock market will collapse. (MoneyScience) Stick a fork in CIT Group, 1908-2009. (Bloomberg) They caught the runaway Credit Sueeeeesse broker, and no, he wasn’t at Le Cirque. (NYT) Virginia is for Usury. (LOLFed) JPMorgan smokes their numbers, 28 cents vs 4 cents expected…get ’em…
Droppin' Knowledge: Doug Kass Takes on the Perma-Bears
“I have often written that both perma-bears and perma-bulls are attention-getters, not money-makers.” Doug Kass, May 2009 On May 27th, TRB fave commentator Doug Kass of Seabreeze Partners and TheStreet.com took on the Cult of the Perma-Bears. As someone who is often characterized as a bear, he sought to establish the difference between people who have…
The Cramer Uptick Rule Petition
A group of market commentators from TheStreet.com, including James Cramer, have put out a petition which lobbies for the reinstatement of the original Uptick Rule, as opposed to a loophole-laden approximation filled with caveats and work-arounds as is rumored to be a possibility. The SEC is currently seeking comment until June 19th. There were only…
Tax Evasion Central Cutting PaineWebber Brokers
How does a big Swiss bank built on stolen Nazi gold, hidden money from African and Middle Eastern despots and un-taxed lucre from wealthy Americans with cross-border connections react to yet another multi-billion dollar quarterly loss? That’s easy! It fires stockbrokers. From the Financial Times: 2,500 will go in wealth management Americas, the former PaineWebber…
Who's Who of Financial Bloggers
Who’s Who in the World of Financial Bloggers? Well, if finance blogdom was a high school, here are the extra-curricular activities your favorite bloggers would be involved with… 1. A.P. Economics Barry Ritholtz (The Big Picture) Mish (Global Trend Analysis) Anonymous (Calculated Risk) Boone, Johnson & Kwak (Baseline Scenario) Yves Smith & Co. (Naked…
Can It Be? Really? A Ford Turnaround?
Here’s a new Analogy for y’all: Ford is to General Motors as The Jeffersons are to Sanford and Son While Chrysler and GM currently subsist on bridge loans from the government, Ford (F) is Movin’ On Up as their latest quarterly results came in better than expected on multiple fronts… From TheStreet.com: Ford (F) beat the first-quarter estimates…
