Quote of the Day: Bailouts

Sad, but true:

“If you’re a socialist, you should be happy. But you should really wonder whether you want people’s ability to pay for housing and college dependent on the motives of people in Washington.”

-Michael Lind, a fellow at the New America Foundation, a research institute in Washington.

Source:
Government as the Big Lender 
PETER S. GOODMAN
NYT, July 14, 2008   
http://www.nytimes.com/2008/07/14/washington/14guarantee.html

Category: Politics, Taxes and Policy

Bloomberg Radio

Category: Media

PPI, Retail Sales

Category: Consumer Spending, Inflation, Retail

Category: Credit, Real Estate

Whining US CEOs: Economy is “Dismal”

Category: Economy, Employment, Psychology, Taxes and Policy

CEO Sees Dismal Economy (Bunch of Whiners!)

CEOs portray a gloomy forecast for the US Economy, according to a new survey by Chief Executive Magazine:

Category: Credit, Economy, Taxes and Policy, Video

DON’T PANIC (Again !)

“DON’T PANIC” – Words inscribed in large, friendly letters on front cover of The Hitchhiker’s Guide to the Galaxy, the ultimate compendium of practical knowledge on practically any conceivable subject, and the most popular book in the known universe. This is partly because it is slightly cheaper than the Encyclopedia Galactica, but is mostly because…Read More

Category: Credit, Derivatives, Financial Press, Psychology

FDIC’s Failed Bank List

Category: Credit, Psychology

Category: Markets, Psychology

Breaking News: Herb Greenberg Resigns CNBC

Here’s some sad news that has yet to hit the wires: Herb Greenberg has resigned as a full-time contributor to CNBC. (No, he’s not going to Fox Business).

Here’s what Herb wrote to CNBC:

Just an FYI: I’ve pulled myself out of the contributor
rotation to focus exclusively on my business, which has become
more-than-a-fulltime job. It wasn’t an easy decision to walk away. I’ll still be
available from time to time as a non-contributor guest, as time permits, and I
remain committed to CNBC.
 

Herb will be missed on CNBC — he is a skeptical voice of reason who oftentimes doubts the nonsense spin we hear all too frequently from corporate executives. And, he’s been proven right far too many times to ignore. He will be missed.

Herb’s new firm is called Greenberg Meritz, and the focus will be "Bridging Financial Journalism and Forensic Analysis."

We wish him luck at his new venture, and if he ever wants to get some info out to a wider distribution, our doors are always open . . .

Click for video
Herb_fairgrounds

Category: Financial Press, Video