| Mon, Nov 16, 2009 |
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GMAC Replaces One Failure With Another
The stench from the feces behind the scenes is getting unbearable. At least it is to those who have direct nasal exposure to the reality floating in the financial sewers, ungrated by the fecal filters of CNBC. The latest casualty of eating from the apple of toxic asset knowledge is GMAC CEO Al de Molina, who is being replaced with a man truly perfect for the job: a director of failed CIT and a former executive of the soon-to-fail toxic cesspool known as GE Capital, Mike Carpenter. From Al de Molina's professional obit: [More...]
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| Wed, Nov 11, 2009 |
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November 11, 2009
To my embarassment, I must correct the November 9 mention of the G-20 and the proposed Tobin tax. A Reuters story quotes a somewhat irritated Gordon Brown on the controversy:
“I think if you read my speech on Saturday, what I was talking about was the social responsibility of financial institutions,” Brown said at his regular news conference. [More...]
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| Sun, Nov 08, 2009 |
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Words from the (Investment) Wise 11.08.09
Words from the (investment) wise for the week that was (November 2 – 8, 2009)
“Words from the Wise” this week comes to you in a shortened format as I am about to leave Cape Town for a visit to the colder environs of Switzerland and Slovenia. Although reduced commentary is provided, a full dose of [...]
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The Big Picture
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Words from the (Investment) Wise 11.08.09
Words from the (investment) wise for the week that was (November 2 – 8, 2009)
“Words from the Wise” this week comes to you in a shortened format as I am about to leave Cape Town for a visit to the colder environs of Switzerland and Slovenia. Although reduced commentary is provided, a full dose of [...]
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Big Picture
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| Wed, Nov 04, 2009 |
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Dollar Trades Higher As Fed Rate Announcement Awaited
The Federal Reserve is expected to keep its benchmark Interest Rate unchanged near zero today, as traders get ready for a busy news cycle. Investors will focus on the interest rate outlook, but many analysts say the Fed is unlikely to change the wording of its pledge to keep rates low for an extended period. This may have the result of stabilizing USD trading, or potentially driving the world's primary currency to new extremes. Will the USD experience a reversal from yesterday's bullishness? [More...]
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