From Bloomberg: Yellen Said to Be Obama’s Pick for Fed Vice Chairman I suggested Dr. Yellen as a possible candidate for Fed Chairman last year, so obviously I think this is a good choice. She was way ahead of most … Read More
The NY Times Deal Book has posted the Lehman’s examiners report online: Court-Appointed Lehman Examiner Unveils Report There is an interesting excerpt on the apparent use of repo transactions to bolster Lehman’s balance sheet: … former Global Financial Controller Martin … Read More
Daylight Savings Time “Spring Forward” …. taken too far What day is today? by Soylent Green is People From the FDIC : Valley National Bank, Wayne, New Jersey, Assumes All of the Deposits of LibertyPointe Bank, New York, New York … Read More
Note: This is not Mortgage Equity Withdrawal (MEW) data from the Fed. The last MEW data from Fed economist Dr. Kennedy was for Q4 2008. My thanks to Jim Kennedy and the other Fed contributors for the previous MEW updates. … Read More
Update: corrected mortgage debt amount. The Federal Reserve released the Q4 2009 Flow of Funds report today: Flow of Funds . According to the Fed, household net worth is now off $11.8 Trillion from the peak in 2007, but up … Read More
From HotelNewsNow.com: STR: RevPAR increases in US weekly results The United States hotel industry posted only its third revenue-per-available-room increase in 18 months for the week ending 6 March 2010, rising 0.9 percent to US$52.75, according to data from Smith … Read More
The Congressional Oversight Panel (COP) released a new report: The Unique Treatment of GMAC Under the TARP [T]he Panel remains unconvinced that bankruptcy was not a viable option in 2008. In connection with the Chrysler and GM bankruptcies, Treasury might … Read More
It is probably time for the U.S. to consider the next set of stress tests for the banks. That is what the Financial Services Authority (FSA) is doing in the U.K. From the FSA : We have now embedded our … Read More
From CR: There are so many reports of a housing bubble in China, I asked a friend living in China for his thoughts … this is his view: From Michael Kleist in Shanghai: News of soaring housing prices in China, … Read More
This is a follow up on the previous post on short sales and 2nd liens . (the previous post had excerpts from the NY Times, Short-Sale Program to Pay Homeowners to Sell at a Loss and WSJ Home-Saving Loans Afoot … Read More