Geithner’s Red Herring
I read a lot of Red Herrings. These are the, not quite final, versions of what will become a Prospectus. If you want to sell a security to the public you have to circulate a Red Herring and ultimately...
View ArticleStress Test Lite – An Update
Neither the Government, the senior management of the big banks nor the investors need a Stress Test to determine what is the financial status of the banks. Treasury and Fed investigators have been...
View ArticleB of A and Bernanke: Unstressed
The Stress Test process is a triumph of form over substance. The entire effort is being highly orchestrated for the benefit of the public. I give Bernanke and the Fed an A+ for ‘managing the news’....
View ArticleStressing Fannie and Freddie – What Does It Mean?
The stress test process disrupted the markets for several weeks. In the end, the government’s effort has delivered some benefits. As a result of the mandated capital increases our banks will be...
View ArticleMurderous Thoughts
The “kids” at the dinner table, the same one they’d sat at for years, what’s left of a meal still scattered about. Lucy, the oldest, at the head of the table, where she always sits. Danny, two...
View Article