David Kotok, Bond Girl on Michael Lewis' latest Vanity Fair ARTICLE -- a...
Below is a great post by David Kotok and a related comment from Bond Girl on munis, Michael Lewis and his latest Vanity Fair ARTICLE Whitney critique. The original post is here...
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Will Meredith Whitney Be Proven Right In The End?
We noted, in September, that corporate bond downgrades were outpacing upgrades very notably and today we get the other side of that with Moody's noting that in Q3, Muni downgrades outweighed upgrades...
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When French bankers gorge on roasting PIIGS - OR - Can You Fool Everybody All...
When French bankers gorge on roasting PIIGS... From the NY Times: PARIS — BNP Paribas, the largest French lender, announced a sharp decline in third-quarter profit Thursday and said it was writing off...
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China Insolvency Wave Begins As Nation's Biggest Provincial Borrowers "Defer"...
Remember, back in the day, when a bankruptcy was simply called a bankruptcy? Naturally, this was well before ISDA came on the scene and footnoted the living feces out of everything by claiming that a...
View ArticleMeet The New Year, Same As The Old Year
Via Pete Tchir of TF Market Advisors, Stock futures are up sharply after another week of unprecedented volatility. Although last week was relatively tame, only 13 times in the last 60 years has the...
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Bill Gross Exposes "The New Paranormal" In Which "The Financial Markets And...
In his latest letter, Bill Gross, obviously for his own reasons, essentially channels Zero Hedge, and repeats everything we have been saying over the past 3 years. We'll take that as a compliment. Next...
View ArticleCalifornia To Run Out Of Cash In One Month, Controller Warns
If anyone is tired of the daily European soap opera with surrealistic tragicomic overtones, they can simply shift their gaze to the 8th largest economy in the world: the insolvent state of California,...
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On Meredith Whitney, Munis and Leaks
Warning: Wonkish When you stick your neck out and make prognostications about the future, sometimes you're going to be wrong. I’m certainly no exception. But when it comes to really big misses, I think...
View ArticleNews That Matters
By www.thetrader.se Ft.com Bo Xilai, the maverick Chinese politician who until recently was a frontrunner for promotion to the top decision-making body of the ruling Communist party, has been dismissed...
View ArticleBecause Once You Drop By Bankruptcy Court, You Don't Stop: San Bernardino On...
Meredith Whitney made her doomsday prediction. The nothing. Nothing. Then lots of glib muni expert pundits gloating because the Fed, the ECB, the BOJ, the BOE, the SNB, and of course, the central bank...
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City Of Compton Next On The Muni Bankruptcy Deck
Because once the dominoes start, they don't stop. Stockton, Mammoth, San Bernardino and now legendary rap and LA riots nexus - the City of Compton. Fear not: the ESM, and the German population whose...
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Buffett Joins Team Whitney; Sees Muni Pain Ahead As He Unwinds Half Of His...
Just under two years ago, Meredith Whitney made a much maligned, if very vocal call, that hundreds of US municipalities will file for bankruptcy. She also put a timestamp on the call, which in...
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A Chinese Mega City Is On The Verge Of Bankruptcy
While most "developed world" people have heard of Hong Kong and Macau, far fewer have heard of China's province of Guangdong, which is somewhat surprising. With over 100 million people, a GDP of nearly...
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On the Cliff
Absent some earth shaking event between now and November, Obama is going to win, the House will remain in the hands of the Republicans and the Senate will continue to be equally divided. The war...
View ArticleFrontrunning: December 18
Obama Concessions Signal Potential Bipartisan Budget Deal (BBG)Cerberus to sell gunmaker after massacre (CNN)With New Offers, Fiscal-Cliff Talks Narrow (WSJ)Judge rejects Apple injunction bid vs....
View ArticleZombie Dance Party: Same Girls, New Music
"As long as the music is playing, you've got to get up and dance. We're still dancing.”Chuck PrinceCEO, CitigroupBloomberg News reports that Bank of America Corp. (BAC), the best performer in the Dow...
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2012 Year In Review - Free Markets, Rule of Law, And Other Urban Legends
Submitted by Dave Collum via Peak Prosperity,BackgroundI was just trying to figure it all out.~ Michael Burry, hedge fund managerEvery December, I write a Year in Review that has now found a home at...
View ArticleFrontrunning: December 24
Global Currency Tensions Rise (WSJ) - in other words, when everyone eases "to infinity", nobody easesEU to give Spain, France more time to cut deficit (Reuters) - But not because their economies are...
View ArticleDavid Kotok: Meredith, Will You Be My Valentine?
Latest from my friend David Kotok. I think both he and Meredith Whitney are too bullish on the banks. Fred Cannon at KBW is right. Mortgage banking revenue for US banks peaked in Q3 2012. And don't...
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Meet Willem Buiter's Sexy, Demented Stalker
And now for something completely different. Citi's Willem Buiter is best known for his exhaustive, often times fatalistic outlook on Europe (he will ultimately be right about the Grexit, and Spexit,...
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