Name the Country’s *Banking Capital See you how do on this quick financial quiz: In order of total market cap (“capitalization,” or entity value), calculated as of today (1/14/09), rank the following pairs of banks and their headquarters cities: —Citigroup and JP Morgan (New York City)–Bank of America and Wachovia (Charlotte)–Wells Fargo and U.S. Bank...Read More
Star Trib features (my) Lake Calhoun ListingWant to see a nice piece of staging? Check out the Star Tribune’s online housing section (the print version appeared yesterday): http://www.startribune.com/homes/sell/37008899.html?elr=KArksLckDiUvckDiUiD3aPc:_Yyc:aULPQL7PQLanchO7DiU The “before” and “after” shots are of an upstairs bedroom — one of three, and four total – that was initially an afterthought. Post-staging, it’s both inviting...Read More
“Fear Factor” Trumps Anger, Outrage — So Far One of the biggest puzzles of the ongoing financial melt-down is, given the manifold examples of greed, recklessness, dereliction of duty, and sheer incompetence on display on Wall Street and elsewhere in recent years, where is the public outrage? The most plausible explanation is that it’s too...Read More
Bailout by Installment Plan for Detroit? What if, instead of bailing out Detroit, the government simply ordered every taxpayer to buy a car from one of the three American automakers. Within six months. Whether you needed one or not. At least you’d have a car, albeit not a very good one. Instead, the government is...Read More
From Rodney Dangerfield to Brad Pitt:Tight Credit Raises Lenders’ Status When credit was flowing a few years ago, lenders were a dime a dozen. Like Rodney Dangerfield, they “got no respect” (and frequently, didn’t deserve any). Now that credit is tight, good lenders suddenly are a borrower’s best friend. The turnabout is due to three...Read More
Capitalism’s 2008 Melt-down:Fundamental Flaw, or Defective $5 Part?The “who-dunnit” sweepstakes are on. According to heavyweights such as economist Joseph Stiglitz, the 2008 Market Melt-Down is due to multiple, systemic problems in modern capitalism (if not society in general) that date back decades. Others go even further, arguing that capitalism itself is fundamentally flawed, and that...Read More
