Quoting the Crisis

“For all practical purposes there is no difference between...”
— Daniel Ikenson in Trade...

Jan 31st

“That is the height of irresponsibility. It is shameful. And...”
— President Barack Obama, quoted...

Jan 30th

“Illinois Governor Rod Blagojevich was removed from office on...”
— Blagojevich ousted as Illinois...

Jan 30th

“The results dragged Ford to a full-year loss of $14.6...”
— Mike Ramsey in Bloomberg.com:...

Jan 29th

“The risk shifts to the employer under “defined benefit”...”
— John Entine in The Next...

Jan 29th

“Altogether, CalPERS saw the overall value of its fund drop...”
— David Serchuk quoting the...

Jan 29th

“Based on various industry reports and FBI analysis, mortgage...”
— Chris Swecker, then assistant...

Jan 28th

“I was extremely disappointed — but not surprised...”
—  Representative Elijah...

Jan 28th

“This is the worst period since the interwar years. The...”
— Institute of International...

Jan 28th

“Patterson’s appointment marks the second time in President...”
— Geithner enlists lobbyist as...

Jan 28th

“In a striking example of how the global financial crisis and...”
— Javier Blas in FT.com / Global...

Jan 27th

“The gap in pay between commercial bankers and investment...”
— Yves Smith in naked...

Jan 27th

“Consumer spending is punk and corporate IT budgets are...”
— Eric J. Savitz in You Knew...

Jan 27th

“If we accept that the world is not characterized by perfect...”
— Geoffrey Whittington in Fair...

Jan 27th

“And I wondered if this wasn’t why capitalism crashed: CEOs...”
— Jeff Matthews Is Not Making...

Jan 26th

“Until we deal with the compensation model, we’re not going...”
— Mary L. Shapiro, quoted by...

Jan 26th

“How do normal people pay for champagne?”
— Dealbreaker - A Wall Street...

Jan 26th

“China has never used so-called currency manipulation to gain...”
— China’s commerce...

Jan 25th

“I don’t think there is a sound UK bank now, at least, if...”
— Jim Rogers, chairman of Rogers...

Jan 25th

“The Chinese renminbi remains a thorn in the side of the US...”
— Steve Barrow, quoted in FT.com...

Jan 25th

“The widening divergence revealed in the charts suggests a...”
— John Kemp in U.S. & UK on...

Jan 25th

“Credit-default swaps clearly played a role in this debacle,...”
— GRETCHEN MORGENSON in Fair...

Jan 25th

“Allowing cash settlement CDS contracts to continue to exist...”
— The Institutional Risk...

Jan 25th

“‘Sir, you are not a banker as you have claimed,’...”
— The Institutional Risk...

Jan 25th

“The perverse effects of fair value accounting in a market...”
— Alex J. Pollock in an article...

Jan 25th

“Legislation was repeatedly brought forth to Congress over...”
— Andrew Lahde after he closed...

Jan 23rd

“Journalists were grossly deficient when it came to covering...”
— Dan Gillmore in TPMCafe |...

Jan 23rd

Financial Sector Wages Relative to Other Industries —...

Jan 23rd

“So the 6.8% growth was actually a 0% growth – or possibly...”
— Nouriel Roubini in RGE - The...

Jan 23rd

“The economy suffered a brutal 1.5 per cent drop in Gross...”
— It’s official - Britain...

Jan 23rd

“Europe’s leading IP research centres have clearly shown the...”
— The Open Rights Group :...

Jan 23rd

“In short: the office is where the computer is. You may work...”
— Response from EBLIDA to the...

Jan 23rd

“But I am saying you can’t have it both ways; you can’t...”
— Stan Schroeder in Can Free...

Jan 23rd

“The reality was that there was no ‘investment in...”
— Christopher Cox Leaves - Floyd...

Jan 22nd

“The investor capacity to lie to themselves is truly an...”
— Barry Ritholtz in Celebrating...

Jan 22nd

“No one doubts that losses will go higher, so asset sales are...”
— Meredith Whitney in FT.com /...

Jan 22nd

“There have been regular protests outside Iceland’s...”
— FT.com / Europe - Icelandic...

Jan 22nd

“The Ontario Securities Commission is seeking a record...”
— Jacquie McNish,  Janet...

Jan 22nd

“Merrill, meanwhile, decided to move up its year-end bonuses,...”
— Charlie Gasparino in...

Jan 22nd

“China’s official urban unemployment rate jumped for the...”
— Li Yanping in Bloomberg.com:...

Jan 21st

“That means housing price will fall to 53% of their peak...”
— Yves Smith in naked...

Jan 21st

“Obviously the leaders of the international financial...”
— M of A - Helmut Schmidt: Six...

Jan 21st

“I’ve found that credit losses could peak at a level of $3.6...”
— Nouriel Roubini, quoted by...

Jan 21st

“The paradoxical conclusion is that it may not matter what...”
— Leigh Caldwell in Bounded...

Jan 21st

“The danger is blindingly obvious. The $4.4 trillion of...”
— SERIOUSLY ALARMED :: Ambrose...

Jan 21st

“The workouts (process of negotiation to avoid bankruptcy) in...”
— Edward Harrison in Circuit...

Jan 21st

“Given how messy all of these alternatives are, why not...”
— Felix Salmon in Why...

Jan 19th

“The day may yet come when we will be freed from the...”
— Tom Selling in The Accounting...

Jan 19th

“Darrel Dochow, the West Coast regional director at the...”
— BRIAN ROSS, JUSTIN ROOD, and...

Jan 19th

“The answer seems to be that Washington remains deathly...”
— Paul Krugman in Op-Ed...

Jan 19th

“A former IMF employee noted how they were advised about...”
— David R. Kotok in Geithner and...

Jan 19th

“The world remains an uncertain place. We can all be sure...”
— Stephen Hester, RBS Chief...

Jan 19th

“Two thousand nine should be the year when the music industry...”
— Feargal Sharkey, a former punk...

Jan 19th

“This suggests that the miracle export-driven-recovery in...”
— Edward Hugh in BONOBO LAND:...

Jan 19th

“By throwing cheap money with little conditionality at the...”
— FT.com | Willem Buiter’s...

Jan 19th

Financial Reform: Core Recommendations...

I - Gaps and weaknesses in the coverage of prudential regulation and supervision must be eliminated....

Jan 17th

“Bespoke Investment Group, with an almost audible sigh,...”
— Alan Abelson in Parade of the...

Jan 17th

“From the middle of 2007 the leadership of Lehman’s...”
— Andrew Gowers in Exposed: Dick...

Jan 16th

“The admission last month by former chairman Sean FitzPatrick...”
— Brian Lenihan, Ireland finance...

Jan 16th

“Japanese machinery orders fell by a record 16.2 percent in...”
— Jason Clenfield in...

Jan 16th

“For the LA area ports, outbound traffic continued to decline...”
— Calculated Risk: LA Area Port...

Jan 16th

“The bottom line is that the Treasury is running through...”
— John Hilsenrath in Real Time...

Jan 16th

“Could the economic situation in China become so bad that it...”
— Albert Edwards, interviewed in...

Jan 16th

“If they aren’t required to pay the money, then investor...”
— Isabelle Wekstein-Steg, a...

Jan 15th

“U.S. foreclosure filings jumped 81 percent last year”
— Dan Levy in Bloomberg.com:...

Jan 15th

“Most experts are seriously underestimating the amount of...”
— A brief note on upcoming bank...

Jan 15th

“They have already hit zero. We have seen trade activity fall...”
— Charles de Trenck, a broker at...

Jan 14th

“Are shareholders, the economy, and the taxpayers better off...”
— Barry Ritholtz in Too Big To...

Jan 14th

“It is noteworthy that Germany, Japan and France at the...”
— Prieur du Plessis in Credit...

Jan 14th

“To the surprise of only economists, Retail Sales plummeted...”
— Barry Ritholtz in Retail Sales...

Jan 14th

“We’re asking how do we build new business models that...”
— Rio Caraeff, executive vice...

Jan 14th

“There is no way to look past the way that the U.S. TARP...”
— Crony capitalism in U.S....

Jan 13th

“if we are to follow the New Deal in any regard, it should be...”
— Edward Harrison in Defined...

Jan 12th

“And after the sting of Madoff, the hangover from the...”
— Megan Barnett in Financial...

Jan 12th

“Like it or not, there is a role for social values, as...”
— Yves Smith in naked...

Jan 12th

“If GDP in the US, EU, and Japan contract at 5% this year,...”
— Douglas A. McIntyre in 24/7...

Jan 11th

“The State of California has to be one of the most badly-run...”
— Kurt Brouwer in Fundmastery...

Jan 11th

“Certainly, the economy has fallen rather suddenly, but did...”
— Steven Greenhut in Pajamas...

Jan 11th

“More generally, risk modeling by traders was similarly...”
— Robert Waldman in Angry Bear:...

Jan 11th

“It’s rare to sell a Senate seat, but it’s not rare to sell a...”
— Charles Anderson, who retired...

Jan 9th

“Many chains reported the worst holiday shopping season in...”
— Stephanie Rosenbloom in...

Jan 9th

“The U.S. probably lost 525,000 jobs in December, capping the...”
— Sobhana Chandra in...

Jan 9th

“The current international financial market crisis is a...”
— Paul Davidson: Reforming the...

Jan 9th

“Year-over-year cargo volume at the nation’s major retail...”
— From NRF report via Calculated...

Jan 9th

“After meetings with lawmakers, Citigroup has agreed to back...”
— Edward Harrison in Citi agrees...

Jan 9th

“This is a Darwinism moment for the hedge-fund industry....”
— Amit Shabi, a partner at...

Jan 9th

“‘Dividends don’t lie.’ Chalk up the...”
— Floyd Norris in High and Low...

Jan 9th

“Marks & Spencer chief Sir Stuart Rose today called on...”
— Julia Finch in M&S axes...

Jan 8th

“I hate to say this, but if China were to be rational about...”
— Yves Smith in naked...

Jan 8th

“In the last five years, China has spent as much as...”
— Keith Bradsher in China Is...

Jan 8th

Hitting the 'No Free Lunch' time

Figure 2. Household debt outstanding and employee compensation since 2000. Household debt from...

Jan 7th

“Always the latest crisis; always the latest short-term...”
— Angry Bear: Gail The Actuary...

Jan 7th

“In the long run, the key task for China is to change its...”
— Wu Jinglian, a well-known...

Jan 7th

“It does seem to me that, in part, many companies move first...”
— Peter Capelli, the George W....

Jan 7th

“Stop making big regulatory decisions with long-term...”
— Michael Lewis in Op-Ed...

Jan 6th

“The Madoff scandal echoes a deeper absence inside our...”
— Michael Lewis in Op-Ed...

Jan 6th

“The best-selling MP3 album at Amazon in 2008 was Nine Inch...”
— Chris Anderson in The Long...

Jan 6th

“There were systemic failures in economics as a discipline,...”
— Barry Ritholtz in Why...

Jan 6th

“Excess capacity will force companies worldwide to reduce...”
— Jim Welsh in 16 months? | The...

Jan 6th

“In 2009, U.S. hotels will suffer one of the greatest annual...”
— Roger Vincent in Hoteliers see...

Jan 6th

“General Motors U.S. sales plunged to a 49-year low in 2008.”
— Barry Ritholtz in Car Sales in...

Jan 6th

“U.S. automakers accounted for 47.5 percent of domestic sales...”
— Bloomberg.com: Worldwide

Jan 6th

“If industry behaved like finance Three Mile Island nuclear...”
— Bill Werner in CASINO WALL...

Jan 5th

“Ever since the crash, there’s been a lot of self-serving...”
— Matthew Yglesias » Bob...

Jan 5th

“Trade finance is collapsing. We’ve got orders we can’t ship...”
— Victor K. Fung, the chairman...

Jan 3rd

“Which didn’t mean you couldn’t use risk models to sniff out...”
— Joe Nocera in RISK...

Jan 3rd

“VaR also became a crutch. When an international banking...”
— Joe Nocera in RISK...

Jan 3rd

“Banks have the ingrained habit of plunging headlong into...”
— Nassim Taleb in Derivatives...

Jan 3rd

“That is what happened when banks began reporting their VaRs....”
— Joe Nocera in RISK...

Jan 3rd

“VaR uses this normal distribution curve to plot the...”
— Joe Nocera in RISK...

Jan 3rd

“[VaR was] relatively useless as a risk-management tool and...”
— David Einhorn, founder of...

Jan 3rd

“Rather than question the theory — be they Investing or...”
— Barry Ritholtz in Vocabulary...

Jan 2nd

“1125 A.D. In this year before Christmas King Henry sent...”
— The Laud Chronicle (E) quoted...

Jan 2nd

“The episode suggests one reason that the crisis went...”
— Real Time Economics :...

Jan 2nd

“Prediction No. 4: Obama’s regulatory plan, in addition to...”
— Dan Gerstein in The Most...

Jan 2nd

“Once the EMH [Efficient Market Hypothesis] is abandoned, it...”
— John Quiggin in: Refuted...

Jan 2nd

“I do not see our current situation as a “downturn” – I see...”
— Edward Charles Ponzi Jr. in...

Jan 2nd

“The executives who had pushed or approved the credit-default...”
— Braddy Dennis and Robert...

Jan 1st

“We stopped writing this business in late 2005 based on...”
— Joe Cassano about the CDS...

Jan 1st

“The swaps business had bound Financial Products to hundreds...”
— Brady Dennis and Robert...

Jan 1st