May 6, 2009
Front page of the NYT tonight: "As Stress Tests are Revealed, Markets Sense a Turning Point." I know I'm a cynic, but my first thought was "...which way?" Is it even possible to turn upward after a 40% rally? Sure enough, the article is quickly laced with the caveat "All of this assumes that the economy [...]
Read the whole post →
April 25, 2009
Of course the big news of Friday afternoon was the preliminary release of the metrics used in the bank stress tests. Unfortunately it didn't turn out to be much news at all; few hard figures were revealed and those that were came largely within expectations. The NYTimes published an excellent copy of the document right [...]
Read the whole post →