Team Hedge Fund

Archive for the ‘Implode’ Category

“For today’s dose of “he really said it” hypocrisy, we turn to recent PIMCO addition, former bearded outdoorsman, Hank Paulson whipping boy, and creator of the TARP abortion, Neel Kashkari, who apparently felt it was his duty to join his colleagues in validating the New Normal (buy our BAB bonds pleeeez) and conforming to the firm’s policy of bashing deficit and entitlement spending.”
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“In a departure from the bold declarations that accompanied the unveiling of its proposed overhaul of financial regulations, the administration has been taking an incremental approach to housing reform.”
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“Values of the equity asset have fallen more than 30 percent, but the values of the debt asset (mortgages) used to buy the equity asset (homes) have fallen two percent. Both of these investments have a right to title to the same asset, but one has fallen FIFTEEN TIMES further than the other. Is this the real world or is it make believe?”
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“Given that housing leads recoveries (more specifically housing starts followed by new home sales), this is another nail in the coffin that suggests there has been no recovery except in financial assets. Moreover, that financial recovery is only a result of unsustainable stimulus that is now quickly fading into the sunset.”
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“Over the past few years, U.S. government debt held by the public has grown rapidly. According to CBO’s projections, federal debt held by the public will stand at 62 percent of GDP at the end of fiscal year 2010, having risen from 36 percent at the end of fiscal year 2007, just before the recession began. In only one other period in U.S. history—during and shortly after World War II—has that figure exceeded 50 percent.”
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“Lobbying groups in Europe and the U.S. praised the changes announced July 26 by the Basel Committee on Banking Supervision as steps in the right direction, while firms including Deutsche Bank AG and UBS AG welcomed the softening of rules proposed by the committee in December. European and Japanese bank stocks surged.”
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“Nearly 150 lobbyists registered since last year used to work in the executive branch at financial agencies, from lawyers for the Securities and Exchange Commission to Federal Reserve bankers, according to data analyzed for The New York Times by the Center for Responsive Politics, a nonpartisan research group.”
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“Mortgage securities with U.S.-backed guarantees climbed to a record for a second day even as prices of benchmark Treasuries fell, pushing yields on 10-year government notes to the highest since July 15.”
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“You think I’m making this up, don’t you? Well, I’m not”
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“Deutsche Bank AG, Germany’s largest lender, is dismantling a group that advises companies on commercial real estate transactions, according to people with knowledge of the matter.”
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