Rolfe Winkler

A crisis not wasted

June 10, 2010

White House Chief of Staff Rahm Emanuel famously said crises shouldn’t be wasted. Lucky for U.S. financial markets, the 80s savings and loan debacle wasn’t. Reforms passed in response meant U.S. regulators were better prepared than their European rivals to process the current crop of bank failures.

Lunchtime Links 6-9

June 9, 2010

The blog prophet of euro zone doom (Thomas, NYT)

Hoenig wants a rate increase (Kelleher/Gillam, Reuters) He won’t get it. The Fed has trapped itself. The only way to keep the economy “growing,” is to pump ever more copious amounts of credit into it. If we’re not willing to put up with any recession whatsoever in order to pay-down/write-off debt, well, then, eventually we become Greece. Even central banks that print the currency in which their debt is payable can’t defy gravity forever. The Japanese have tried for the better part of a generation….hasn’t worked so well….

Evening Links 6-7

June 7, 2010

Betting on the bad guys (Adams, WSJ) From the cartoonist behind Dilbert.

Consumer credit increases slightly in April (CR) Credit excluding mortgage debt is back on the rise…ever so slowly…and probably not for long…

Bank Failure Friday

June 5, 2010

Three failures tonight…including one in Nebraska with assets/deposits over $2 bilsky.

Lunchtime Links 6-4

June 4, 2010

CHART: Census responsible for almost all job growth (Culp, Reuters) 411k census jobs added in May. 431k total jobs added.

Free ride ending for U.S. wireless bandwidth hogs

June 2, 2010

By Rolfe Winkler

Bandwidth hogs are losing a big trough. AT&T on Wednesday became the first major U.S. mobile service provider to shift from an all-you-can-eat model to tiered pricing for email and Internet access.

Evening links 6-2

June 2, 2010

Quote of the Day: Absolving Moody’s for failing to see the housing bubble, Warren Buffett employed the “who-could’ve-known” defense when he told the Financial Crisis Inquiry Commission today that “rising prices are a narcotic” that corrupt the critical thinking of rational people. To that Chairman Phil Angelides responded that rising prices may be “a narcotic, but don’t we expect ratings agencies to avoid it? You don’t want [the credit] police trading crack.