Impact of TARP on Credit Cards
By Barry Ritholtz - November 16th, 2008, 10:30AM
In-Depth Look: Impact of TARP on Credit Cards
In any great organization it is far, far safer to be wrong with the majority than to be right alone. —John Kenneth Galbraith
Macro Notes
US$ rally continuesPeter Boockvar
Asian currencies continue to sell off vs the $ on the heels of the news yesterday that South Korea said they will look into hot money inflows stemming from the $ carry trade and the Bank of Indonesia said they are looking into the foreign buying of bills. This follows the news a few weeks ago that Taiwan was limiting foreign deposit holdings and Brazil was taxing foreign inflow transactions. As I mentioned yesterday, we may have reached a short term pain threshold in terms of $ weakness and foreign countries are fighting back as they certainly won't wait for...
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November 16th, 2008 at 5:50 pm
What do you do NEXT year??? Another trillion?? They might as well be talking about colonizing Mars. You can spend money on a program to do it. But, you’re not going to land there this year or next.
So, if the credit card companies can’t securitize, don’t they have to ration credit? Doesn’t that mean that real interest rates should go up?