Archive for September, 2008

Covered bonds are not the answer
As Hank Paulson looks to push through his Economic Patriot Act, it bears remembering that just a few months ago he saw Covered Bonds as a potential solution to U.S. problems with declining home prices. They are not the solution. This market is now cratering and is having it’s worst month since 1999. Covered Bonds are just another instrument in the arsenal of products that the mortgage market can use to increase market confidence and liquidity. Market instruments are not a solution. Avoiding ea

NAB baulks at UK FSA’s Bradford move (The Australian)
ATTEMPTS by the UK’s Financial Services Authority to find a buyer for Bradford & Bingley are understood to be floundering.

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The Dummy’s Guide to the U.S. Financial Crisis
Whenever I wade into a new topic like digital photography, gardening or what have you, I visit the local bookstore and get a “For Dummies” book to guide me. I figure that it’s the best way to get up-to-speed quickly without actually looking like a dummy. So, for those of you who want the 3-minute version of the present crisis, here it is in 20 short steps (click images to enlarge): In 2001, following a massive stock market and capital spending bubble, Federal Reserve Chairman Alan Greenspan wor

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THE FINTAG NEWSLETTER @ 26 September 2008
FINTAG COMMENT The largest US bank failure in history - and it doesn’t even make it onto the front pages. Thankfully JP Morgan is there, once again, to hoover up the best bits as Washington Mutual (or WaMu to those who struggle with 5 syllables or more) goes bust. In the meantime, the mix of 2 wannabe presidents and a real president causes the USD700bn bail out fund to be put on hold. Nobody is telling us where this figure comes from and now WaMu is no more surely it should come down? Morgan S

The Dummy’s Guide to the US Banking Crisis
Whenever I wade into a new topic like digital photography, gardening or what have you, I visit the local bookstore and get a “For Dummies” book to guide me. I figure that it’s the best way to get up-to-speed quickly without actually looking like a dummy. So, for those of you who want the 3-minute version of the present crisis, here it is in 20 short steps: In 2001, following a massive stock market and capital spending bubble, Federal Reserve Chairman Alan Greenspan worried that the U.S. face