October 5, 2009

Bank of America to pick an “emergency” CEO this week. — Wall Street Journal.

“If you assume, as we do, that the equity of BAC is a zero, where should bond holders be haircut in order to recapitalize the bank without further financial support from the US taxpayer?” — Christopher Whalen

Ken Lewis as mediocre CEO. — Joe Nocera.

Sheila Bair: “We need to end ‘too big to fail’ and this needs to be an overarching policy that applies to everyone.” — Reuters

After getting it horribly wrong in the second half of 2008, the Federal Reserve called a mulligan. — Angry Bear.

You can ask Paul Krugman a question about the economy. Rolfe? — Paul Krugman

One comment

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The comment on “too big to fail” tickles me. The real entity that is too big to fail is the Obama’s Administration. Failure of the banks and financial institutions will bring about a failure in the administration too. Hence, it is more of a case of scratching each others’ backs.