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Friday, 3 October 2008

Blog des Blogs

If you'd like to know more about:
- Biden/Palin toe to toe see
- Warren Buffet's thinking see
- Ireland's spectacular move see
- how the majority of US legislators think see
Wells Fargo taking over Wachovia instead of Citi and that WF will be recording Wach's impaired assets at 'fair value' see
- support for the interesting contention that mutuality leaves financial firms less exposed, see Recall that regulators including the FSA before the liquidity crisis put a lot of pressure on mutuals to demutualise because they wanted the transparancy of firms being valued by equity markets, having those to raise capital in, and supposedly thereby better capitalised?
- "mark-to-realization" of loans (useful term) and the complaint that nothing is yet being done to tackle "parallel banking" (also called 'shadow banking') which is critical to the financial crisis, see
- and for the acerbic view that "Unless the bond holders and other non-retail creditors get a serious haircut/pay a hefty charge in these bank rescue operations, the authorities will have achieved the worst possible combination of ex-post grotesque unfairness and ex-ante bad incentives for future financial misbehaviour" see

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