Posts filed under “Video”

Professor Stiglitz’ on “Financial Alchemy”

Professor Stiglitz’ explanation of the
"financial alchemy" responsible for the collapse of Lehman Brothers: "The Fall of Lehman Brothers"

Professor Stiglitz then addressed the question of whether Lehman’s executives should have to answer for their decisions:  "Should We Hold Lehman’s Executives Accountable?"

Stiglitz also looked beyond the headlines, drawing attention to the less visible factors influencing America’s economy: "How Foreign Governments are Buying America"

Category: Bailouts, Economy, Video

Professor Stiglitz’ on “Financial Alchemy”

Professor Stiglitz’ explanation of the
"financial alchemy" responsible for the collapse of Lehman Brothers: "The Fall of Lehman Brothers"

Professor Stiglitz then addressed the question of whether Lehman’s executives should have to answer for their decisions:  "Should We Hold Lehman’s Executives Accountable?"

Stiglitz also looked beyond the headlines, drawing attention to the less visible factors influencing America’s economy: "How Foreign Governments are Buying America"



See also:
How to prevent the next Wall Street crisis   
Joseph E. Stiglitz
9:19 a.m. EDT, Wed September 17, 2008
http://www.cnn.com/2008/POLITICS/09/17/stiglitz.crisis/index.html

Category: Bailouts, Economy, Video

Wingnuttery on CNBC

Wow, I am amazed that Michelle Caruso Cabrera would trot out this old, discredited, wingnut meme in the middle of the day.

This is probably the single worst moment of Journalism I have seen on CNBC — simply pathetic:

Category: Politics, Real Estate, Really, really bad calls, Video

Jesse Eisinger on Deregulation and Credit Crisis

Both John McCain and Barack Obama responded quickly to the turn of events on Wall Street this week. Early Monday, McCain said “the fundamentals of our economy are strong” but are threatened by greed on Wall Street. He released a new ad saying “our economy is in crisis” and that “only proven reformers McCain and Palin can fix it.” 

On Monday, Obama attributed the crisis to lax regulation, which he linked to President Bush and McCain.
Today, the Obama campaign released a new ad attacking McCain’s assertion that the economy is strong. “How can John McCain fix our economy if he doesn’t understand it’s broken?” the ad asks. 

 

Category: Credit, Taxes and Policy, Video

Whitney: Wall Street’s Future headaches

Weighing in on Bank of America’s latest deal and the future of Wall Street, with Meredith Whitney, Oppenheimer & Co.


click for video

whitney

 

Category: Corporate Management, Credit, Derivatives, Video

Roubini: U.S. Financial Industry Facing ‘Disaster’

Nouriel Roubini, an economics professor at New York University, talks about the turmoil in financial markets and outlook for the sale of Lehman Brothers HoldingsL


click for video

Nouriel

Category: Bailouts, Corporate Management, Credit, Video

Roubini: U.S. Financial Industry Facing ‘Disaster’

Nouriel Roubini, an economics professor at New York University, talks about the turmoil in financial markets and outlook for the sale of Lehman Brothers HoldingsL


click for video

Nouriel

Category: Bailouts, Corporate Management, Credit, Video

Cramer Calls (Yet Another) Bottom in Housing

Cramer080915_560
This week, one of my fellow LIRR commuters handed me a New York
Magazine
, and asked me my opinion about an article by Jim Cramer on a bottoming in Housing sector. The articles title?  On June 30, 2009, Buy an Apartment.

Gee, that seemed rather specific, I wonder what’s in the article? I thought.

I
practically spit up my coffee when I read the first paragraph:

"For
more than a year, I’ve been a huge bear on housing. From the moment the
credit-crisis storm began to form, I’ve been shouting in my usual
unhinged way about just how bad the devastation would be, and carrying
on about how anyone who bought a home in this environment would lose
money immediately. At various points along the way, my house-hating
judgment has been questioned, but I’d say I’ve been vindicated by the
relentless decline in home values we’ve seen, the worst since the Great
Depression. Even here, in our so-called real-estate-superstar city,
prices may not have fallen, but the rate of acceleration has started to
soften."

That paragraph struck me as particularly
disingenuous. Perhaps Cramer’s long housing bias had spanked him enough times that he finally flipped bearish, but, damn, that was only after
getting the credit bubble and housing collapse, and especially, repeated bottom calls on the Home Builders,  very, very wrong for a long, long time.

Now, I don’t know when Cramer flipped bearish on Housing — I do not watch
the show regularly, nor do I read him at TSCM — but he
certainly was bullish in 2005, 2006 and early 2007. Maybe he flipped bearish some time in the past year. I don’t know.

But here’s the funny thing: I get tons of emails about James Cramer, asking me "Why don’t you focus on Jim ever?" Why doesn’t TBP cover him more?

Fair question. For a couple of reasons, making Jim a focus of the blog doesn’t interest me. I’ve criticized him on many an occasion, but being his stalker — ala Luskin on Dr. Paul Krugman — simply isn’t my bag.

Why? First, I respect Cramer’s accomplishments with TheStreet.com. Forget the TV pundit you see today, not many people had the foresight in 1995 to recognize that web based business content was going to be big. But Cramer did, and that sort of foresight and business acumen earns my respect.

Second, being Cramer’s Jiminy Cricket is not how I want to define myself. I have my own opinions, beliefs, and perspectives. I’ve carved out a nice little corner of the internet for the Big Picture. And if I make Cramer the focus of this blog, I give up my own identity. Besides, he retired from finance years ago, and now works in entertainment industry.

But third, and perhaps most of all, I don’t need to. Why? Because Don Harrold already does:

Jim Cramer Calls a Bottom in Housing – HERE’S THE TRUTH (

>

Jim Cramer Called "The Bottom"? 1 Out of 10 Ain’t Bad!  (

>

Sources:
On June 30, 2009, Buy an Apartment
Our resident financial expert calls the end of the housing-market free fall—to the day.
James J. Cramer
NYMag, Sep 7, 2008
http://nymag.com/news/businessfinance/bottomline/49938/ 

Don Harrold
http://www.donharrold.net/

Don Harrold on YouTube
http://www.youtube.com/user/donharrold

Category: Markets, Real Estate, Really, really bad calls, Video

Jim Rogers: “American Socialism for the Rich”

"America is more communist than China is right now. You can see that
this is welfare of the rich, it is socialism for the rich… it’s just
bailing out financial institutions," Rogers said.

>

See also:  Welcome to the U.S.S.R. (United States Socialist Republic)  Citigroup  (PDF)

Read More

Category: Bailouts, Credit, Video

Jim Rogers: “American Socialism for the Rich”

"America is more communist than China is right now. You can see that
this is welfare of the rich, it is socialism for the rich… it’s just
bailing out financial institutions," Rogers said.

>

See also:  Welcome to the U.S.S.R. (United States Socialist Republic)  Citigroup  (PDF)

Read More

Category: Bailouts, Credit, Video