Commentaries

from Rolfe Winkler:

Afternoon Links 1-20

January 20, 2010

Must Read -- Short sale fraud + follow-up (Olick, CNBC) Great sleuthing from Diana Olick. Sounds like outright fraud being committed by big banks. One follow up question: In many cases, the second-lien holder is also the first lien holder. How is that impacting short-sales?

from Rolfe Winkler:

Afternoon links 1-13

January 13, 2010

Must Read -- Kyle Bass: Testimony before the FCIC (fcic.gov) Bass is a hedgefunder that made big profits betting against subprime. His testimony has many fascinating facts and figures. [The pie charts on page 9 look familiar.]

from Rolfe Winkler:

Lunchtime Links 1-12

January 12, 2010

China surprises with bank reserve hike (Xin/Rabinovith, Reuters) The Fed could learn something from the PBOC. This sudden move to tighten bank lending maintains the PBOC's reputation for acting without warning. If the Fed had a similar rep, U.S. lenders wouldn't be so cavalier taking interest rate risk.

from Rolfe Winkler:

Lunchtime Links 12-18

December 18, 2009

(Reader note: still working on

MUST READ -- Strict framework leaves room for maneuver (Masters/Jenkins, FT) While this subject may seem a little dry, it's the Basel Committee in Switzerland that will lead the way when it comes to how banks measure capital and how much they need to have. I'll offer more detailed thoughts on this later today.

Don’t worry about the weak dollar

October 13, 2009

By John M. Berry

There’s no way to shut off the incessant warnings about a weak dollar from foreign officials and some economists, but it’s perfectly safe to ignore them.

China can be smarter on reserving more resources

October 7, 2009

China might have good environmental reasons to restrict the production of rare earth metals, but export quotas and duties are not the way to do it.

Bankers leave little upside for new Hong Kong IPO

October 5, 2009

A dozen or so companies have raised money in Hong Kong over the past month to cash in on rebounding equity markets, but that window is threatening to close after a string of poor debuts.

China might keep the weakest bank all to itself

September 30, 2009

Faced with a backlash against foreign investors, Beijing may
be tempted to offer shares in the last of its big four banks to
a domestic audience.

Imagine when China runs a trade deficit

September 29, 2009

If current trends continue, China might swing to a trade deficit
in the not-too-distant future. Given that China has enjoyed more
than a decade of strong exports, this may sound a bit far-fetched.
But even if it happens, this would not necessarily be something for
the world to worry about.

West raises stakes over Iran nuclear programme

By Paul Taylor
September 25, 2009

big-3President Obama and the leaders of France and Britain have deliberately raised the stakes in the confrontation over Iran’s nuclear programme by dramatising the disclosure that it is building a second uranium enrichment plant. Their shoulder-to-shoulder statements of resolve, less than a week before Iran opens talks with¬†six major powers in Geneva,¬†raised more questions than they answer.