This is hilarious…the first line of the story even quotes Lehman as “the biggest underwriter of mortgage bonds” before sourcing them for the info. on the health of the credit markets.
Lehman, Bank of America, Barclays Say Rout Is Over
That is like quoting Chiquita for the statement “bananas are healthy, you should eat one for every meal.”
Maybe it is a joke…it is Friday the 13th and the author of the article’s last name is Risk…good ‘ole Bloomberg.
New media seems to have defeated old media in the fight over online radio. Rumors have it that the proposed royalty rates that would have made online radio inpracticable have been defeated by public uproar. The blogosphere and KCRW had been blasting the message to their constituents and it seems to have worked.
Online Radio Is Saved; SoundExchange Will Not Enforce New Royalty Rates
Ironically I just started my own Pandora station this week. Glad progress can keep progressing.
It feels good when smart people tell you they like your ideas…it inspires confidence.
Well, some of the smartest people out there today may be the dudes managing the piles of capital better known as hedge funds. And these guys vote not with the ballot or in the press but with their wallets.
So, I gotta wonder, how good must these guys feel, with insider lists like this:
http://finance.yahoo.com/q/mh?s=MAQ
http://finance.yahoo.com/q/mh?s=HAC
http://finance.yahoo.com/q/mh?s=usq
http://finance.yahoo.com/q/mh?s=frh
http://finance.yahoo.com/q/mh?s=iii
http://finance.yahoo.com/q/mh?s=SHA
Must be nice.
I remember it was less than two years ago when the term web 2.0 first got people buzzing. Well, it is time for people to move on…to Web 3.0 and hereof course.
But if you aren’t ready for that you at least need to be aware of the fact that the Wii is really the future. I mean check out these gadgets.
How cool is it that you can not only teach your kid how to drive , but also get in shape using this thing!?!
Somebody else is noticing: Microsoft Plans to Cut Xbox Price to Compete With Wii and Sony cuts price on PS3 by $100, adds higher-capacity model
In case you haven’t been keeping score, these two articles do a nice job summarizing the action over the last month or so:
Debt Market Woes: ARMs Are The Next Shoe To Drop
Subprime Losses Drub Debt Securities as Ratings Drop
The crescendo is just on the horizon…let’s hope the climax is a nice long ridable wave. I don’t know how to ride a short board.
According to some Fed officials, the $B’s at risk of losses as the subprime debacle unfolds will not create “systemic risk”. Wow, these guys should retire from the Fed and kick Steve Cohen out of his digs in Connecticut. I wish I could predict the direction of Beta and proclaim it from the hills:
Warsh, Steel Don’t See `Systemic Risk’ From Subprime
But then again, as the Fed-genius himself quips referring to the downgrade by Moody’s yesterday: “I don’t think that was entirely unanticipated. Sometimes I buy a stock thinking it will go up and it doesn’t.”
Maybe he should watch The Princess Bride and learn a lesson on terms like “systemic risk” from Inigo Montoya
Bigger numbers aren’t all that scare something like Google. The future of facebook’s grip on social networking has it shaking in its boots according to the below:
23-Year-Old Mark Zuckerberg Has Google Sweating
More likely Google is keeping licking its acquisitive chops and keeping a watchful eye on the evolution of networking on sites like Stumbleupon, Pownce, Twitter, and the like…although facebook will continue to be a force to be reckoned with as long as the add-on’s don’t get too annoying.
As a follow up to the headline on S&P’s downgrades:
“S&P chief economist David Wyss predicted subprime mortgage losses to peak in late 2008 and early 2009 on a conference call this morning.
The economist anticipates an 8% average national drop in home prices between 2006 and early 2008. So far, the US has experienced a 2.1% drop in housing prices, he said.
S&P said this morning losses on subprime mortgage bonds originated in 2006 and late 2005 were higher than they had modeled for when they initially rated the deals. The rating agency said it could not yet pinpoint how high losses would go.”
And here goes Moody’s:
Shocked that the Lefties at CNN would hack a fellow Lefty like Moore, but then he hacked right back. Mudslinging on real issues is a helluva lot better than what people usually get up in arms about. I wonder if he will file suit.
The report behind this seems long and lots of smart people seem to agree. This one doesn’t sound good. I just hope the tech dudes can find away around it.