Oil = $124

Wow: Briefing is reporting that COMDX electronic trade has crude above the $124 level, now up 65 cents to $124.18.

Crude Oil Futures, June Contract


Graph courtesy of Bar Charts

Category: Commodities, Energy

Advice for Billionaires on Getting Things Done

Category: Wages & Income

GDP Alternate Measure

Category: Data Analysis, Economy, Inflation

Is Inflation Really Understated? (No!)

Yesterday, I wrote: “David Leonhardt’s NYT columns are oftentimes insightful and illuminating. Unfortunately, today’s column is not one of those times . . .”  I promised readers (and David) an explanation. Consider this it. First off, I interpreted Leonhardt’s column as really two distinct issues — one psychological, one statistical. He got the first one…Read More

Category: Financial Press, Inflation, Psychology

Fannie Mae’s Home Prices Ex-Foreclosures

Category: Corporate Management, Data Analysis, Real Estate

Bernanke Urges Action to Avert Further Foreclosures

Click for Video


Bernanke Urges Action to Avert Further Foreclosures

Federal Reserve Chairman Ben S.
, seeking to end the worst housing slump in 25 years,
urged the government and mortgage lenders to intensify their
efforts to avoid home foreclosures.    

Bernanke, in a speech in New York today, also reiterated his
call for lenders to forgive portions of mortgages for some
struggling homeowners. He said proposals should be “tightly
targeted” at borrowers at greatest risk of losing their
properties, and avoid providing an incentive for defaults.    

The Fed chief also backed the idea of having the Federal
Housing Administration refinance troubled mortgages, a concept
included in Democratic legislation in Congress, without
explicitly endorsing the bill. His remarks indicate a gap with
the Bush administration, which has preferred to rely on industry-
led efforts.    

"Realistic public- and private-sector policies must take
into account the fact that traditional foreclosure-avoidance
strategies may not always work well in the current environment,”
Bernanke said in remarks to a Columbia Business School dinner.    

Bernanke Urges Action to Avert Further Foreclosures
Scott Lanman and Alison Vekshin
Bloomberg, May 5  2008

Category: Economy, Real Estate, Video

CEA Chief: No Recession

Category: Economy

Word Problems for Future Hedge Fund Managers

Category: Trading

Greenspan Quote of the Day

Category: Books, Federal Reserve


Category: Data Analysis, Economy, Wages & Income