Items of Interest:
Zombie financial ideas — Calculated Risk looks at the latest plan floated by the Treasury — to make low-interest, non-recourse loans to private investors who buy bad assets — and immediately gets it: this is a plan to drive up the prices of toxic assets by creating a lot of moral hazard...
Indeed. Every plan we’ve heard from Treasury amounts to the same thing — an attempt to socialize the losses while privatizing the gains. We’re going to buy up all the bad assets at premium prices; no, we’re going to offer the banks guarantees against losses; no, we’re going to let private investors buy the stuff, but offer them de facto guarantees against losses in the form of non-recourse loans...
Bernanke Says Insurer AIG Operated Like a Hedge Fund
discussion:Jonathan Stempel / Reuters: Ex-CEO Greenberg sues AIG, alleges fraudEric Etheridge / The Opinionator: A.I.G.: Rage Against the MachineMary Kane / The Washington Independent: When It Comes to AIG, Even Bernanke Has Had Enough
"What you're now seeing is ... profit and earning ratios are starting to get to the point where buying stocks is a potentially good deal if you've got a long-term perspective on it," the president said on a day that trading continued to hover under 7,000...
Jennifer Rubin / Commentary: It's Only Your Life's SavingsCaro / Corrente: Politics and Media Headlines 3/3/09Ben Smith / Ben Smith's Blogs: Market as campaignJoe Weisenthal / Clusterstock: Barack Obama Says Stock Valuations Are CompellingFausta / Fausta's Blog: Brown's visit — Pres. Obama and Prime Minister Gordon Brown …Owen Thomas / Gawker: Barack Obama, Stock AnalystErick Erickson / RedState: The Ownership Society Becomes Obama's Collective SocietyDan / Riehl World View: Feel The Pain — Obama mildly touted stocks today.The Campaign Spot: President Obama, Portfolio AdviserJohn Del Signore / Gothamist: OBAMA URGES AMERICANS TO BUY STOCK, NOT TO WORRY
discussion:John McCormack / Weekly Standard: Out: Hammer & Sickle; In: Flower & GearDavid Kurtz / Talking Points Memo: COMING SOON TO A ROAD SIGN NEAR YOUD-Day: Branding The RecoveryRichard Fernandez / Pajamas Media: And the word was made fresh — Jake Tapper at the Politico describes …Curt / Flopping Aces: The Obama Version Of The Hammer & Sickle?Bruce McQuain / QandO: The New “O” — C — oming to a bridge abutment near you, uh, someday:
Harvard, Private Equity and the Education Bubble -- There have been a number of bubbles over the past decade that we now know about. Unfortunately, we are also about to find out if there was an education bubble.
Fueled by endowment gains and tuition increases, universities in recent years have gone on a building, faculty and program expansion spree. I have personally seen it in the law school realm. Instead of the historical 12-credit loads, the norm over the past few years in law schools has trended towards nine to ten credits. This allowed for more research, but also meant that the faculty needed to expand to continue offering the same course levels. Salaries also rose as law schools and other areas of universities competed for top talent...
- How Wall St. Played Out on Icelandic Tundra - Michael Lewis, Vanity Fair
- The Secret History of Bear Stearns' Collapse - William Cohan, Fortune
- Bad Policies Can't Keep Good Economy Down - B. Wesbury & R. Stein, Forbes
- Buffett's Losses: The Real Meaning for Investors - J. Stewart, SmartMoney
- To Nationalize or Not—That Is The Question - Martin Wolf, Financial Times
- The Stimulus' Early Hidden Winners - Martha White, The Big Money
- Bottoms Up, Mr. Market! - Doug Kass, TheStreet.com
- The Never-Ending Rescue of AIG - Editorial, The Washington Post
- A Wall St. Trader Says His Bonus Was 'Too Small' - Anonymous, Newsweek
- The Dollar Looks Good Next to the Yen and Euro - Jim Jubak, MSN Money
- The Financial Crisis Is Reaching a Climax - Steve Forbes, Forbes
- The Sheer Madness of Investing Crowds - John Plender, Financial Times
- Obama's 'Change' Is Capital On Strike - Editorial, Investor's Business Daily
- Bailouts: Throwing Good Money After Bad - Jonathan Hoenig, SmartMoney
- Let Our Start-Up Companies Bail Us Out - Reid Hoffman, Washington Post
- Preparing the Obituary for Print Newspapers - James DeLong, American
- Gold Standard Fans Yearn for Great Depression - Michael Sesit, Bloomberg
- Waging War On Prosperity - Dick Morris & Eileen McGann, New York Post
- For the Rich, America Itself Is Enemy Territory - Charles Taylor, Nation
- Obama Discriminates Against Oil Producers - Max Schulz, City Journal
- Rooting for the Apocalypse - Megan McArdle, Brave New Deal
- It Was a Grim Fourth Quarter Across the G-7 - B. Setser, Follow The Money
- While Obama Taxes the 'Wealthy,' He's Killing America - Deal Journal
- Economic Forecasters Aren't Able To Predict Bottom - A Dash of Insight
- Can the Innovation of Silicon Valley Be Replicated Elsewhere? - GigaOm