(James L. Melcher is the president of Balestra Capital, a New York-based hedge fund. He co-authored this article with Joan McCullough, macro-economic strategist at East Shore Partners. They are writing in a personal capacity and the opinions expressed are their own.)
The Great Debate
When we first began talking about a new section that would encourage Reuters.com readers to debate the issues of the day, the credit crisis had yet to explode into the global threat that it is today. Less than four months later, the public appetite for debate and new ideas has never been greater. Barack Obama was speaking for many across the political spectrum when he said the crisis “calls for the best ideas, the brightest minds, the most innovative solutions from every corner of this country,” although few would expect the search for ideas to stop at the U.S. border.
(James Saft is a Reuters columnist. The opinions expressed are his own.)
LONDON (Reuters) – The evaporation of borrowed money has fundamentally changed the way markets function, and what look like crazy anomalies may end up being closer to the new reality.
(John Kemp is a Reuters columnist. The opinions expressed are his own)
LONDON (Reuters) – Despite Fed assurances that the worst of the crisis has passed, and the banking system has been successfully “saved”, credit conditions are actually getting much worse, not better, for even mid-grade corporate borrowers.