In the News

Mauldin: US banks have plenty of euro exposure

December 22, 2010

Remember all that stuff about getting our deposit banking institutions out of the opaque derivatives trading business and back to, oh I don't know, banking? Well the President decided to come into office in the midst of the worst economic crisis in 70 years and use up all his political capital to tackle healthcare instead. Read more

Debt, Growth and Stocks – The Great Debate

December 6, 2010

The 18th Forbes Cruise for Investors sailed to a finish on Sunday. On Saturday, we heard a pair of stalwart stock pundits debate the impact of public debt on stocks. Their opinions could not have clashed more. Read more

Republicans have no choice but to look at the VAT

November 2, 2010

Winning control of the House of Representatives and making big gains in the U.S. Senate will be the easy part for the Republican Party once the midterm election is over, some key GOP supporters say. Coming to grips with economic reality will prove much more difficult — so much so that one unabashed Republican says the GOP has to put the anti-tax rhetoric on hold and look at the value of a value-added tax. Read more

Canada-style deficit reduction, ’90s-style, won’t work in US: Wells Fargo

October 28, 2010

Recent commentaries, such as from best-selling Dallas author and financial commentator John Mauldin, suggest Washington should look to its northern neighbour, in Canada, for advice on getting the U.S. fiscal house in order. Read more

Foreclosure woes threaten US and Europe

October 27, 2010

So far, mainstream media have remained relatively cautious with respect to a crisis that first broke out almost a month ago. It revolves around the strong possibility that, due to faulty mortgage securitization procedures, many defaulting homeowners cannot legally be foreclosed. Read more

A European Lynch Mob Is Coming For Bank of America

October 25, 2010

I pity CEO Brian Moynihan and the 284,000 other employees of Bank of America Corp (BAC). That includes 15,000 Merrill Lynch brokers who are still recovering from the financial crisis and now have to explain to their clients why they work for a firm that is at the epicenter of America’s housing crisis. Read more

Dollar Depreciation and the Higher Cost of Living

October 13, 2010

Stock investors are breathing easier with the expectation that the Federal Reserve will prop up our fragile economy with more help but, as consumers, they might be less enthusiastic about what dollar depreciation means for the cost of living. Read more

Hedgies Spread the Doom for a Good Cause

October 12, 2010

Once more, the hedge fund community unites for a good cause – this time not by shelling out enormous sums of money while being wined and dined at a charity gala dinner, a la Arki Busson, but by writing a book designed as a warning to policymakers all over the globe. Read more

Nation’s Uber-Rich Fight Over Taxes

October 9, 2010

The outrageously wealthy among us might be a lot alike in their outsized bank accounts, but they don’t share much in common when it comes to their views on tax policy. Read more

The Fed’s Next Spending Spree

October 2, 2010

The Federal Reserve seems to be setting us up for another round of quantitative easing (QE). That is Fed speak for buying a few trillion dollars of government debt and injecting said cash into the economy. Read more