Market Commentary


The Next New Paulson Plan

Author: Bob Eisenbeis, Post Date: October 13, 2008

When George Allen was recruited by Washington Redskins owner Edward Bennett Williams to come to DC and rebuild the team, Williams said, “George was given an unlimited budget and he quickly exceeded it.”  It now appears that Hank Paulson has done the same.  Instead of using the money in the multi-billion bailout bill to buy […]

Throwing in the Towel

Author: David Kotok, Post Date: October 8, 2008

Actions speak louder than words. Yesterday I sat at the Washington luncheon speech of Ben Bernanke.  We watched the stock market meltdown start about three quarters of the way through his speech.  The rest of yesterday you know.  Last night, the meltdown continued worldwide. This morning we saw coordinated central bank actions aimed at massive […]

Doom and Gloom?

Author: Bob Eisenbeis, Post Date: October 6, 2008

First we are told that financial chaos will break out if the House of Representatives didn’t pass the ill-conceived bailout bill that Secretary Paulson and Congressional leaders put together. When the bill didn’t pass, surprising everyone, the market fell over 700 points; but it rallied the following day, gaining back about 400 of the lost […]

Money: From American to Zimbabwe

Author: David Kotok, Post Date: October 4, 2008

Look at a US $100 bill.  Ben Franklin stares at you from one side; Philadelphia’s Independence Hall decorates the other side. British 10-pound notes depict the Queen on one side and Charles Darwin on the other.  Twenty-euro notes have no pictures of people, only a map of Europe.  Ten thousand Chilean peso notes feature Captain […]

Municipal Madness Again

Author: John Mousseau, Post Date: October 2, 2008

The municipal bond market has witnessed one of its most dramatic sell-offs in the past three weeks – most of this in the wake of the Lehman Brothers bankruptcy.  This has happened as all NON-TREASURY markets have seized up.  The capital markets are awaiting the potential bailout plan from Congress, but the municipal (as well […]

The Senate’s Deed is Done

Author: David Kotok, Post Date: October 1, 2008

Well, the deed is done.  It now makes no difference if we like this new law or not.  Some Bullets. The Senate has passed the new version with a filibuster proof margin of over 60 votes.  It now goes to the House. The House first sends it to the Rules Committee; they decide the terms […]

What a Mess!

Author: David Kotok, Post Date:

What a mess!   And it is about to get worse. Americans have repudiated both their 2-term Republican Administration’s leaders (Bush & Co.) and the Democrat Congressional leaders (Pelosi, Frank, and Dodd).  We have done so for good reason.  These politicians are neither trusted nor respected.  This is the result of their behaviors over the last […]

Pontificatus Interruptus

Author: David Kotok, Post Date: September 27, 2008

Here we are with another intense weekend to add to the pile of 7-day work weeks.  Washington Emperor Barney Frank says “Follow me.”  He looks around and no one is there.  Result: blame someone else.  So he points fingers and seeks scapegoats. Did he mention he added 4.2 basis points to the Fannie-Freddie bailout for […]

Helicopter Hank

Author: Bob Eisenbeis, Post Date: September 24, 2008

Little did Chairman Bernanke realize, I am sure, when he gave the speech before the National Economics Club in Nov. 2002 that earned him the nickname “Helicopter Ben,” that he would be relegated to back-seat navigator as Helicopter Hank shoveled taxpayer dollars to his former Wall Street friends.  Secretary Paulson has jumped from one “deal” […]

How Much Money Does the FDIC Really Have?

Author: Bob Eisenbeis, Post Date: September 22, 2008

As the result of the projected approximately $8 billion loss to the FDIC associated with the IndyMac failure and the widely publicized fact that the FDIC fund is now running low, concern has turned to its capacity to handle another large bank failure. An AP article suggested that the FDIC may be running out of […]

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