“Public assistance enables the world’s largest 15 financial firms to return to the capitalization they had in September 2008,” the article continues. The largest of the largest, HSBC, is now judged to be worth $186 billion, according to the stock market.
September 2nd, 2009 | Bill Bonner | 2 comments | ContinuedAll Posts Tagged With: "subprime"
JPMorgan and Goldman Sachs Making Billions in Profits
But here at The Daily Reckoning, we can’t help ourselves. If we see a silver lining, we look for the cloud. We see garbage…we look for the rat… We begin with the JPMorgan profit announcement, because it is the most intriguing. Let us set the stage…
July 20th, 2009 | Bill Bonner | 9 comments | Continued
Austerity is Missing from the Financial Bailout Debate
Within the billions of sentences about the financial bailout there is one word notably absent, austerity. All talk is of payments, supports, subsidies, incurring more debt, stimulus packages.
July 3rd, 2009 | Juan Enriquez | 1 comment | Continued
Subprime Meltdown Has About Run its Course
“But not to worry,” borrowers were told. “Betting on ever-rising home prices is the safest wager in the whole wide world. If you have problems with cash flow when the ARM resets, your house will be worth a lot more, so you can simply sell it and walk away with a nice chunk of change in your pocket.”
June 4th, 2009 | Doug Hornig | 8 comments | Continued
RBA Confirms Aussie Economy Would Enter Recession
What’s changed? Well for one, rising layoffs are having an effect on the real economy. Today’s papers report that mortgage delinquencies are on the rise. Delinquencies on full-documentation loans are still relatively low. Just 1.75% of full-doc loans are more than thirty days past due, according to a story in the Sydney Morning Herald.
April 2nd, 2009 | Dan Denning | 1 comment | Continued
More Subprime Thinking
The subprime economy and the problems it brought us are the result of subprime thinking…
July 28th, 2008 | Bill Bonner | 1 comment | Continued
Happy Birthday Subprime Crisis, Oil Price up 96%
Think back to a year ago. This week is the one-year anniversary of the beginning of the subprime crisis. A year ago this week we covered the slow-motion collapse of two Bear Stearns funds, the High Grade Structured Credit Strategies Enhanced Leverage Fund and the High Grade Structured Credit Strategies Fund. On June 22nd of last year, you could still buy a barrel of West Texas Intermediate crude for $68.85. Today a barrel of oil traded on NYMEX will cost you $135.02
June 23rd, 2008 | Dan Denning | 3 comments | Continued
Those Who Toil in Finance are Unhappy
Subprime mortgages, liar’s loans, private equity finance, Chinese stocks, residential housing, SIVs, CDOs – they all needed more and more leverage, more and more finance, just to stay even.
February 18th, 2008 | Bill Bonner | 0 comments | Continued
Subprime to Prime, the Whole Credit Structure has been Hit
From subprime, to prime, to home equity, to credit cards, to car loans, to buyout financing… the whole credit structure has been hit, some parts worse than others.
February 18th, 2008 | Bill Bonner | 0 comments | Continued
U.S. Subprime Meltdown Costs the World $8.6 Trillion
A research paper from Bank of America says the related fall-out from the crisis has caused $8.6 trillion in stock market losses worldwide, trimming a full 14.6% from the total world market capitalisation. “It could take months or even years before Wall Street and others get a handle on the true cost of the US subprime meltdown and the attendant global credit crunch,” Bank of America chief market strategist Joseph Quinlan added.
February 15th, 2008 | Dan Denning | 2 comments | Continued