Video: Why Homebuilders Are Losing Confidence
Andrew Gordon discusses why new homes are failing to sell…once again.
Tags: Banks, consumer debt, foreclosures, housing sector, interest rates, jobs, short sales, us debt
Why “Do-Nothing” Politicians Can’t Win This Battle
What’s going on in Europe is scary. And everybody is faulting the politicians.
It’s easy to diss Europe’s dithering government officials. They actually make Washington DC look decisive.
In truth, there’s not much too choose between them. When you strip away the superficial differences you’re left with politicians on both sides of the Atlantic who fear the electoral consequences of betraying their base: Whether it’s German chancellor Angela Merkel, President Obama or Speaker of the House John Boehner.
Gordon: The Banks’ Dirty Secret Behind Profits
I’m no fan of banks. They bankrupted 80% of my Asian clients back in the late 1990s by encouraging customers of all sizes to take out “dollar loans.”
Are American Banks Following in Greece’s Footsteps?
I hope American banks are paying attention to the Greek banking sector. There’s a lesson there that US banks would do well not to ignore…
It’s Do or Die Time As the EU Meets Again This Weekend
This coming weekend the EU meets. And I’m already expecting to be underwhelmed. Just remember this one thing: It’s all about the banks. Why does France argue with Germany? French banks are more at risk over a big haircut on Greek debt.
More Muddling Through On the Agenda in Europe
Watching Europe is like watching a 17-car pileup in slow mo. Despite a fresh wave of optimism sweeping over markets, odds are more half measures are on the way.
Slovakia Says No
Bailouts are bailouts. If you’re not for them in the US, you shouldn’t be for them in Europe. US banks were bailed out from the consequences of their greedy and reckless behavior. And to add salt to the wound, the US government didn’t bother to put restrictions on how they had to use the bailout money.
Watered-Down Volcker Rule Gets Public Hearing
Finally the “Volcker Rule” (part of the Dodd-Frank Wall Street Reform and Consumer Protection Act) is getting its day in the court of public opinion. The rule is named after former Fed Chief Paul Volcker who didn’t want banks to mess around with depositors’ money.
