Posts filed under “Financial Press”

Headline of the Day: “Lending Falls at Epic Pace”

How can you not love that hedder?

It sums up everything in the article in a tidy little package, and delivers it with style and grace. (Plus, its the second time today I have gotten to use the word epic!)

Here is the Journal’s version (pub date FEB 24, 2010):

“U.S. banks posted their sharpest decline in lending since 1942 at the end of last year, suggesting that the industry’s continued slide is making it harder for the economy to recover.

While top-tier banks are recovering at a faster clip, the rest of the industry is still suffering, according to a quarterly report from the Federal Deposit Insurance Corp. Banks fighting for survival, especially those plagued by losses on commercial real estate, are less willing to extend loans, siphoning credit from businesses and consumers.

Besides registering their biggest full-year decline in total loans outstanding in 67 years, U.S. banks set a number of grim milestones. According to the FDIC, the number of U.S. banks at risk of failing hit a 16-year high at 702. More than 5% of all loans were at least three months past due, the highest level recorded in the 26 years the data have been collected. And the problems are expected to last through 2010.”

That is epic!


Click for Interactive Graph on Bank Failures

Courtesy of WSJ


Lending Falls at Epic Pace
WSJ, FEBRUARY 24, 2010

Category: Credit, Financial Press

Tuesday Reads

Tuesday afternoon links: • Targeting short-sellers attempts to shift the blame from the true culprits (Barron’s) • Harvard’s Rogoff Sees Sovereign Defaults, ‘Painful’ Austerity (Bloomberg) • Smackdown: Tim Geithner in Vogue vs Sheila Bair in The New Yorker • Horrid Job Number Coming (Floyd Norris) • Q4 2009 Brought Still More Declines in State Tax…Read More

Category: Financial Press

Monday Readings

Some items I found worth perusing – • China New Village Makes Chanos See Dubai 1,000 Times (Bloomberg) • Debt Deals Haunt Europe (WSJ) • The Deflationist: How Paul Krugman found politics (The New Yorker) • Former SEC Chair Arthur Levitt on Risk and Discipline in the Financial Markets (WSJ OpEd) • AIG Death Spiral…Read More

Category: Financial Press

Lazy Saturday Reads

Some reads for a Saturday afternoon: • BASICLAND: Charles Munger’s parable about how one nation came to financial ruin (Slate) • Agreement Is Near on New Overseer of Banking Risks (NYT) • Prof Robert Shiller: Engineering Financial Stability • Short sales grow as a cheaper alternative to foreclosure (LATimes) • Government fines? Toyota shouldn’t worry…Read More

Category: Financial Press

Most Influential Journalists (by Political Orientation)

On a lazy expiration Friday, you can either spend time on the Tiger nonsense, or you can surf the web looking for chartporn and other good time killing stuff. I chose the latter. Consider these two lists via Tunku Varadarajan. I met him some time ago (thru Paul Kedrosky) when he was managing editor of…Read More

Category: Financial Press, Politics

News Dots

Most news is inter-connected by various degrees of separation. People, places, story lines — very often overlap. News Dots visualizes how recent topics in the news fit together, like a giant social network. Subjects—represented by the circles below—are connected to one another if they appear together in at least two stories, and the size of…Read More

Category: Digital Media, Financial Press, Web/Tech

Wednesday Reads

Some items that caught my eye today: • How to walk the fiscal tightrope that lies before us (FT) • Wall St. Helped Greece to Mask Debt Fueling Europe’s Crisis (NYT) • Tougher financial regulations not coming fast or easy for SEC’s Mary Schapiro (WaPo) • Banks step up spending on lobbying to fight proposed…Read More

Category: Financial Press

Gasparino: The Sellout

That’s the name of Charlie Gasparino’s new book, The Sellout. And its also what his colleagues over at CNBC might be thinking — as several readers noted over the weekend, Charlie jumped ship and has signed a multi-year deal with Fox Business Network. Back in his early days as a reporter for the WSJ, Gasparino…Read More

Category: Financial Press, Television

Alacra Pulse

> Interesting website that compiles analyst commentary and media coverage on stocks: Street Pulse, finds comments by sell-side, industry and credit research analysts and melds those with comments from respected bloggers in an effort to answer the question “what do key opinion leaders have to say…” about a given company. Deal Pulse* compiles the latest…Read More

Category: Analysts, Financial Press, Web/Tech

Viral or AstroTurf ?

Over the past few years, it has become increasingly difficult to easily distinguish between genuine viral phenomena and astroturfing. I had my suspicions several years ago, but it reached a head with the “Peter Schiff Was Right” video. Even before he announced he was running for Senator in Connecticut, I strongly suspected the heavily edited…Read More

Category: Financial Press, Weblogs