Thursday, 28 October 2010

Prudent Bear



Quotable

"US bank earnings plunged nearly 25% in the third quarter, falling below $30bn for the first time since 2003 as the sagging US housing market hit profits… Net income for banks in the period fell to $28.7bn, down $9.4bn from last year driven by a steep increase in provisions for loan losses and a drop in non-interest income, according to the FDIC. Loan loss provisions rose $9.2bn, or 122%, to $16.6bn compared to the same period a year earlier… The $16.6bn in provisions is the most made since the second quarter of 1987..."

Financial Times, November 28, 2007


Commentary

Credit Bubble Bulletin

by Doug Noland | Oct 22

Rebalancing the World

Geithner has a plan for Rebalancing the World.

Read more

The Bear's Lair

by Martin Hutchinson | Oct 25

The Fragility of Virtual Ownership

As the virtualization revolution ages, recordkeeping reform is becoming increasingly essential if our civilization and living standards are to survive.

Read more

Featured Commentary

by Peter Schiff | Oct 13

The Hail Mary

At a time when we should be trusting the markets to grind out three yards in a cloud of dust, we have put our faith in the Fed's ability to fling a Hail Mary pass, even though all previous attempts have failed.

Read more

Guest Commentary

by Neeraj Chaudhary | Oct 27

Decoupling: Alive and Well

The U.S. consumer is a drag on the world economy, not an engine for growth.

Read more


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Posted by Britannia Radio at 18:36