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  • Wall Street Breakfast: Must-Know News [View article]
    I am old enough to remember when US companies bought foreign companies. How quaint.
    Aug 24 13:28 pm |Rating: +1 0 |Link to Comment
  • Wall Street Breakfast: Must-Know News [View article]
    At least bernanke talks about the need for an exit plan - the Obamites talk only of extending federal control more deeply into more industries.
    Jun 05 13:03 pm |Rating: +6 -1 |Link to Comment
  • Wall Street Breakfast: Must-Know News [View article]
    At least Bernanke is starting to notice the connection between intended trillion dollar deficits and long term interest rates - at least until the Congress redefines the role of the Fed, or his reappointment (or not) starts to loom next year.
    Jun 04 12:16 pm |Rating: +2 0 |Link to Comment
  • Wall Street Breakfast: Must-Know News [View article]
    Dear Mr. Ferguson: I think that your questions are about the unpredictability of investing in 21st century America, where the government dominates and changes the rules regularly - banking, housing, automotive, and (developing) healthcare, energy, and insurance. I am finding an increasing amount of my investments going overseas to where I can find a more reliable government structure - Turkey and China for telecom; Israel for pharma; Brazil for iron ore; Canada for banking and railroads. (The last sentence was meant to be ironic, but it is true.)
    May 26 11:48 am |Rating: +3 0 |Link to Comment
  • Wall Street Breakfast: Must-Know News [View article]
    Where did this insurance industry thing come from? I thought that the AIG problem was swaps, and the systemic risk - which incidentally were covered at 100 cents on the dollar for domestic or international holders. But that's not the problem here. And from all reporting, AIG's real businesses (insurance; annuities) are doing fine. Did Geithner just see another hill to climb?
    May 15 12:52 pm |Rating: +1 0 |Link to Comment
  • Wall Street Breakfast: Must-Know News [View article]
    Who would have believed it just a few short years ago? The government takes over GMAC and uses it to finance the car companies that it jointly owns with the UAW. The government puts billions more into Fannie/Freddie to pay for government-supported liquidation of mortgages which they encouraged. The government plans to determine the compensation structure of the financial industry. And by the end of the summer we will have the Pelosi/Obama plan for managing nationalized healthcare.

    The Soviet model of a centrally-controlled economy worked for quite awhile, but eventually collapsed from coruption and indifference. For us, the arrogant belief that the government knows better than individual people and companies is a bigger threat than the huge debts that the Obama administration is racking up.
    May 13 12:02 pm |Rating: +9 -2 |Link to Comment
  • Wall Street Breakfast: Must-Know News [View article]
    The Treasury's call to be able to take over insurance companies and other non-bank financial institutions is the biggest news of the day. In the absence of a plan to provide regulations, we should trust the politicians with the ability to nationalize any financial institution if it doesn't do as they wish. See Barney Frank and sub-prime mortgages; Nancy Pelosi and confiscatory taxes; Chris Dodd and sweetheart loans.
    Mar 25 13:42 pm |Rating: 0 -2 |Link to Comment
  • Wall Street Breakfast: Must-Know News [View article]
    Thank God that the fed chief is an independent position, and that Obama couldn't fire Bernanke and replace him with Summers right away. Maybe by the time his term expires, we will be on a path to recovery despite Geithner's floundering around.
    Mar 16 14:32 pm |Rating: 0 0 |Link to Comment
  • Wall Street Breakfast: Must-Know News [View article]
    So, Geithner and Summers willo share the car czar position. As if they didn't have enough to do. On the other hand, how do you think the UAW felt about a strong person that could deal with them collectively, after a century of dealing with the weakest company first, then extending that agreement to the other car makers? Woe!
    Feb 17 10:29 am |Rating: 0 0 |Link to Comment
  • Wall Street Breakfast: Must-Know News [View article]
    First the tobacco guys; then the car guys; then the bank guys. It's a good thing that the Dems got back from their retreat in Williamsburg in time to save the country.
    Feb 12 20:29 pm |Rating: 0 -1 |Link to Comment
  • Wall Street Breakfast: Must-Know News [View article]
    Tis a gloomy day indeed. The markets need clarity, and the administration has given only urgency. The NYT talks today about David Axelrod, Obama's chief political advisor, wanting to fire the leaders, cap salaries, and wipe out stock holders of the banks. Oh, and to create a public/private partnership to buy up the toxic assets that Paulson wanted to buy with TARP I. Good luck getting into business with this administration.
    Feb 10 16:09 pm |Rating: 0 -1 |Link to Comment
  • Wall Street Breakfast: Must-Know News [View article]
    Come on JasonR. This is the worst since Jimmy Carter.
    Feb 09 17:17 pm |Rating: 0 0 |Link to Comment
  • Wall Street Breakfast: Must-Know News [View article]
    There seems to be a fork in the road here. Does the government save the US banking system, or does it try to save the global financial system. If the TARP is used to buy back toxic assets, doesn't that mean from US banks, foreign banks, hedge funds, and who knows what else? These things are fungible, they float around, and they are broadly owned and interconnected. But even our printing presses will run out of ink if we try to solve everything with no more pain for anyone. Paulson made a good switch - perhaps lousy public policy for the process, but good economics. Now it looks as if the Obama gang wants to go down the road that Paulson avoided. Ugh.
    Feb 02 13:08 pm |Rating: +3 -1 |Link to Comment
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