Welcome new reader!

Financial news I consider important, with my opinion, which is worth as much as you paid for it.
Please click HERE to read a synopsis of my view of the financial situation.

Friday, March 20, 2009

News Update

Obama sets primetime news conference 3/24, 8 p.m. - My Spin - I expect similar to Bush announcement "Mission Accomplished", Obama to announce "bottom is in".
Intercontinental Clears $7.15 Billion in Credit Swaps - My Spin - If the CDS market becomes traded on a regulated exchange, such as this one, this would be a major step to avoid future AIG debacles, as well as improve market stability significantly. CDS valuation is over 40 trillion, so this is a small start.
Prudential Insurance credit rating cut to baa2 from A2 - No spin
OpEd piece - The United States Of Ponzi - My Spin - More accurate than mass media spin
NAACP accuses Wells Fargo and HSBC of steering well-qualified blacks into subprime loans - My Spin - Accurate or not, this spin I suspect won't play off well with millions of Americans burned, and we now have a black president.
Mexico Applies Tariffs to U.S. Products After Truck Dispute - My Spin - such a small story, with such huge ramifications if Tariffs as a "solution" gains steam.
Honda’s Credit Rating Cut by Moody’s on Decline in Car Demand - My Spin - I'd bet on Honda over GM when this is over.
Citi Losing Economist to Treasury - My Spin - Hopefully his new employer fares better than his old one.
In a first, bankruptcy judge rules Calif. city can void union contracts - My Spin - If this ruling stands, you can expect many cities to follow. Government unions will be the next to get broken. Those decades of promised paradise benefits in retirement will be curtailed.
AIG Consumer Lender, Plane Unit Downgraded by Moody’s - No Spin
U.S. credit card defaults rise to 20 year-high - My Spin - Anyone taking bets we will see an all-time high before this is over?

No comments:

Post a Comment