Synthetic CDOs and Merrill's Fall
A fine piece by Gretchen Morgenson in the International Herald Tribune (as part of a series entitled "The Reckoning&
How Far Will Deleveraging Go?
From Wall Street Journal (November the 8th); via Yves Smith Wall Street Journal Opinion November 8, 2008 How Far Will
Lame-Duck Administration Still Has Priorities
From the Washington Post : A Quiet Windfall For U.S. Banks With Attention on Bailout Debate, Treasury Made Change to
Words Can't Describe How Wacky This Is
There's an absolutely devastating critique of corporate-led globalization hidden (only a little) in this story somewhere. From
$600 Billion Plan: Not Enough to Sustain Rally
Despite a stimulus plan of historic scale, the announcement of China's $600 billion program, though sufficient to fuel
Closures & Layoffs (Nov. 2-8)
Mark Heschmeyer's weekly report, from CoStar. Another Week, Another Round of Fortune 500 Layoffs A Weekly Report on
Notes on the Foreclosure Crisis (T. Weisskopf)
In case you missed it--we posted two new articles on Friday: notes on the foreclosure crisis, by Tom Weisskopf,
The Politics of Studs Terkel (Roger Ebert)
An amusing riposte to this annoying comment on Studs Terkel's work. The most recent episode of This American
The Maximum-Strength Remedy (Robert Reich)
This is from Talking Points Memo; hat-tip to Ben Collins. By Robert Reich - November 9, 2008, 2:26PM This
No GM/Chrysler Deal
After losing a staggering $4.2 billion in the 3rd quarter, GM has been forced to call off talks about
Good Review of Subprime
The excellent Julian Delasantellis, who contributes regularly to Asia Times, reviews Confessions of a Subprime Lender, by Richard Bitner, who
Black Jobless Rate: 11.1% In October
From Bob Feldman: Despite the election of a Democratic Party majority in the U.S. Congress in November 2006, the