Blog des Blogs

If you'd like to know more about:
- Biden/Palin toe to toe see http://blogs.ft.com/crookblog/
- Warren Buffet's thinking see http://www.crossingwallstreet.com/
- Ireland's spectacular move see http://www.davidmcwilliams.ie/2008/10/01/lenihans-masterstroke-has-bought-us-time-to-sort-out-our-own-problems
- how the majority of US legislators think see http://robertreich.blogspot.com/
Wells Fargo taking over Wachovia instead of Citi and that WF will be recording Wach's impaired assets at 'fair value' see http://www.businesswire.com/portal/site/home/permalink/?ndmViewId=news_view&newsId=20081003005242&newsLang=en
- support for the interesting contention that mutuality leaves financial firms less exposed, see http://blogs.ft.com/gapperblog/ 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 http://blogs.ft.com/wolfforum/2008/10/why-federal-reserve-policy-is-failing/#more-201
- 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 http://blogs.ft.com/maverecon/