September 2008 - Finance -

Quotable

I had the following quote ready to publish when the bill passed. The vote against the bailout bill was a pleasant surprise, but the House still has until Thursday to be bought off or to cave to pressure. Or maybe democracy is still alive in America? "The...

Published 09-29-2008 6:35 PM by London Banker

Learning from Rudi Bogni: The Thin Space of Financial Activity

Every good morality tale needs heroes as well as villains. In the past few weeks all we’ve seen are the villains raping and pillaging and despoiling all that we hold dear – rather like the first hour of the original and uncensored Mad Max . I’ve made...

Published 09-26-2008 12:42 PM by London Banker

Brad Setser: Extraordinary Times

Brad Setser has a fascinating insight to offer in his newest post, Extraordinary Times : In the last two weeks — if I am reading the Federal Reserves’ balance sheet data correctly — the Fed has: Increased “other loans” to the financial system by around...

Published 09-26-2008 9:33 AM by London Banker

Did Buffett Just Give Us A Coded Warning?

Warren Buffett, new stakeholder in the megalithic survivor-biased Goldman Sachs, has referred to recent upheavals in the financial markets as "an economic Pearl Harbour" . He is a very smart man who knows his history, having lived it and seen...

Published 09-24-2008 3:17 PM by London Banker

Marcy Kaptur (D-OH): "Real reform now or nothing!"

Must see. She rips Wall Street a new one.

Published 09-23-2008 9:20 PM by London Banker

Quotable: On Bank Balance Sheets

"The problem with financial institution balance sheets is that on the left hand side nothing is right and on the right hand side nothing is left."

Published 09-23-2008 11:41 AM by London Banker

Rep McDermott (D-WA): Paulson "able to catch a pass he threw to himself"

Rep McDermott gets it: Mr Speaker, The people in Washington State are very troubled by the fact that King George has been disposed of by King Henry. We picked up Newsweek magazine today and we have a new King... King Henry? We're supposed to give...

Published 09-23-2008 6:07 AM by London Banker

"Non-Reviewable" - Sometimes there really ARE conspiracies

The text of the proposed emergency markets legislation is now available. Just as expected, it will contain a provision to provide immunity from any review by any court or executive agency. Either get with the collaborationists or get with the insurgents...

Published 09-20-2008 10:17 PM by London Banker

Filed under: fascism, end game, dictatorship

The Unitary Federal Reserve - Crisis Choreography

Along with much of the world, I have watched with increasing disquiet as the United States of America morphed under President Bush into a lawless soft dictatorship more like the USSR than the USA. Under his theory of the "unitary executive"...

Published 09-19-2008 9:14 AM by London Banker

Filed under: Federal Reserve, extra-legal, unitary executive

Denninger warns of US political failure

Every now and then I have enjoyed reading Karl Denninger's Market Ticker on current events. His most recent video , which he warns may be his last, warns that the line crossed by the Treasury and Federal Reserve in creating new money to bail out Wall...

Published 09-18-2008 9:32 AM by London Banker

Filed under: extra-legal, unitary executive

September 2008 - Finance

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