Archive for the ‘The Banking Crisis’ Category
Saturday, May 17th, 2008
One of the more self-destructive and fruitless results of the Credit Crisis is the relentless search for scapegoats. This is silly enough when applied to people. (See my earlier blog, “We’ve Found the 12 People that Caused the Crisis! Now We Can Stop Worrying.”) Of course many, many more than ...
Posted in Rating Agencies, Computers Run Amok, The Banking Crisis, Polticial Decisions Affecting Banking | No Comments »
Sunday, May 4th, 2008
FASB (The Financial Accounting Standards Board - rule-makers for the accounting profession) announced possible rule changes for banks today (May 1st). This event got little attention in the financial press. It rated a sidebar in the Money and Investing section of the Wall Street Journal. As far as I could ...
Posted in Games Bankers Play, The Banking Crisis, When Regulation Goes Wrong | No Comments »
Monday, April 21st, 2008
We learned this week that the board of London bank branch officers that submit LIBOR (London Interbank Offered Rate) rates, the version of Eurodollar rates used in most contracts involving bank wholesale deposit rates, to Reuters and ultimately to the rest of the world, have been shading the rate low. ...
Posted in The Banking Crisis, Markets and Regulation, Polticial Decisions Affecting Banking | No Comments »
Friday, April 11th, 2008
The financial pages are a rich source of comedy, but it was with extraordinary hilarity that I observed today that Lehman has wasted no time standing on ceremony. It’s back to business as usual for them. Nose to the old grindstone.
Recently the Federal Reserve, in a move, the papers said, ...
Posted in Games Bankers Play, The Banking Crisis, Markets Matter | No Comments »