Elliot Spitzer is on fire with his latest column …
The Regulatory Charade
Washington had the power to regulate misbehaving banks. It just refused to use it.
Does it strike you as odd that the American government has invested $115 billion in TARP money alone in Citibank, JPMorgan Chase, and Bank of America, fully 70 percent of their market cap ($164.5 billion, as of March 30), yet we have virtually no say in the management or behavior of these banks? Does it seem even odder that these banks are getting along extremely well with the government regulators who should be picking them apart for having destroyed the economy and financial system?
Merrill’s Rosenberg: A New Bull Market? Are You Out of Your Mind?
- Rosenberg’s reasons for why this stock boom is a sucker’s rally …
- Need to see housing stabilize to put in a definitive bottom
- A total lack of equilibrium in the housing market
- Would take over three years to achieve price stability
- A lethal deflationary combination
Mexico trims oil output forecast Mexico’s finance ministry cut its estimate for average crude oil production this year by 30,000 barrels per day and said output could fall further in 2010, according to a report sent to Congress. The finance ministry now sees this year’s oil production averaging 2.72 million bpd.
XX Sean’s note — Mexico is coming apart at the seams. As was noted when Mexico’s production dropped last month: “If the question is, what is Pemex going to do in the short-term to prevent the falling production?” George Baker, a Houston-based energy consultant who publishes the newsletter Mexico Energy Intelligence, said in an interview. “I’m afraid the answer is nothing.”
Rail Freight Traffic Down 20.8% in March For the first three months of 2009, total U.S. rail carloadings were down 16.3 percent (636,192 carloads) to 3,259,097 carloads, while intermodal traffic was down 15.5 percent (411,802 units) to 2,243,491 trailers and containers. Total volume was estimated as 345.8 billion ton-miles, down 15.2 percent from a year ago
Related Posts
- Who’s Lying on Oil? (09/24/09)
{ 0 comments… add one now }