Wednesday, 10 September 2008

Alice's bubble wrap

Too Late For Me

Renter girl is moving out and moving on.

"My landlord is going bankrupt, and so I must leave. Somehow, he’s accumulated twelve buy-to-let mortgages, you see, and nine are in negative equity.Good job I packed, really."

Twelve buy-to-lets, with nine underwater? Who gave him the credit to create such a mess?

Do Fannie and Freddie hold the key to UK’s housing crisis?

First prize for dumbest question of the day.

UK going into recession, says EC

The Eurocrats must have enjoyed making this forecast.

Housing slide hits Barratt profit

Profit warning? I'm amazed that Barratt is still around.

Stagnation in Welsh economy continues

I haven't heard much about the Welsh property bubble.

Lehman shake-up as losses mount

"Troubled US bank Lehman Brothers has reported a massive third quarter net loss and outlined radical plans to strengthen its finances. Lehman said it made a loss of of $3.9bn (£2.2bn) between June and August, taking its losses this year to $6.6bn. To shore up its weak financial position, it has slashed its dividend and will sell a stake in its lucrative fund management arm. "

It doesn't look like a long term growth strategy; it is more like "can we last till the weekend" strategy.

Lehman Death Watch: Will Paulson Let Lehman Fail?

Naked capitalism thinks that the Fed and the Treasury might let Lehman sink. Not so about this one.

Lehman Brothers: Wall Street atom smasher set in motion

"The world’s most powerful balance sheet smasher was set in motion for the first time Wednesday morning at the start of an experiment designed to unlock the secrets of the investment bank accounting universe."

Lehman losses hit world stocks

Al-Jazeera's take on the Lehman crash.

Irish Nationwide disagrees with downgrades

"Irish Nationwide Building Society says it 'fundamentally disagrees' with recent rating downgrades from credit rating agencies Fitch and Moody's. Fitch said today that the downgrade reflects concerns about the uncertain outlook for commercial and residential property lending in Ireland and the UK. It said this has deteriorated further and faster than was anticipated in early 2008."

Pimco fund makes $1.7 billion in a day after bailout

The real reason behind the Freddie and Fannie nationalization.

Bill Gross Finds Communism

It is as if the Berlin Wall had never fallen.

Spanish PM unveils housing credit to combat slump

More state aid for the housing market.

Economic Breakdown: Result of Moral Breakdown?

"Today, people don’t seem to care so much about things like their reputation, honesty and character. The pursuit of money reigns supreme."

Judgement day is upon us; we had it coming.


Ruined Invegas said...

Lehman will belong to the US taxpayer before the week is out.

Anonymous said...

nice blog

dearieme said...

"Barratt unveiled ... a price guarantee to protect buyers from short-term falls in prices." Jolly good; who stumps up if Barratt has gone bust by the time you sell the house?

LES said...

good to see the Spanish following the UK example - throwing public money at the housing crash.

That should work; not.

Anonymous said...

Regarding modern character, you have a real problem when you have an entire generation of business folks ho have never done anything communal, or of sacrifice (like serving in the military), running things. When they can just kick somebody out of a job and career to meet equity hiring targets, or blow money with no consequences, then such a person will never act responsibly. One day it will all implode, but when that day comes, don't expect me to sympathise.

Anonymous said...

"The Eurocrats must have enjoyed making this forecast."
The whole Europe must be really excited about the thought of UK doing worse than EU ... they have such an envy towards this island. Please ...