Rossputin.com

According to this very interesting real estate blog entry entitled "High-End Foreclosures Are Next" by CNBC's Diana Olick, the high end of the real estate market is in much worse shape than recent slightly-bullish real estate headlines might make you thi… more »

[Update: On Thursday morning, it appears that GM bondholders have changed their minds and agreed to take 10% of the company in exchange for their debt. Under the plan, if bankruptcy is averted (which is not at all clear it will be even with the bondhold… more »

Three Indiana state pension funds are pushing back against the Obama adminstration's illegal "cramdown" of Chrysler bond holders. They've realized that their fiduciary responsibility is more important than their fear of demonization. The good news is th… more »

From Cato@Liberty, this news about Fannie Mae -- expected to incinerate more than $100 billion more taxpayer dollars this year -- and an interesting comparison by Steve Malanga with government promotion of home ownership in the 1920's... http://www.ca… more »

Thanks to Mike for forwarding me this truly excellent article. I have verified that it was indeed written by Cliff Asness of AQR Capital Management, LLC. If I had money to allocate, this letter alone would make me want to invest in their firm. Unafr… more »

Over at TheStreet.com, Eric Oberg explains why he believes the AIG bailout was "not a gift to Goldman". I disagree, and I told him so: Dear Eric, As a former CBOE market-maker and dyed-in-the-wool capitalist, I am not some sort of liberal who hate… more »

Fritz Henderson, the acting CEO of GM, spent 15 minutes talking to David Gregory on "Meet the Press" yesterday. (The link contains the show's transcript.) I was fairly impressed, particularly by answers to two questions. Before I get to those, I'd lik… more »

The media and political furor of the week is the employee bonuses paid by AIG under contracts that existed prior to the government’s effective takeover of the company. And while the President as well as politicians of both parties are fulminating about… more »

Gary Wolfram, a professor at Hillsdale College, has written another very good article about why mark-to-market accounting rules should be suspended and how they are making our nation's financial situation worse. It may seem like an arcane discussion,… more »

Last Wednesday, Alan Greenspan wrote an op-ed for the Wall Street Journal in which he tried to deflect blame for the housing bubble from the Federal Reserve. I think he failed completely, as I explain in the following letter I wrote to WSJ editors: Al… more »