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john haskell's Comments Stream Stats
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Ruth's Chris Steak House: Wide Open to a Hostile Bid
Capitalize on Water Shortages With Grain ETFs
Morningstar on Munis: What Kind of Credit Crisis Is This?
You are correct to point out that there are some other companies on Planet Earth- such as MBIA, UBS, various Zimbabwean retailers, etc., that have financial problems, but Morningstar didn't have anything to say about them.
Thoughts on Ambac Bailout, MBIA, Berkshire's Muni Bond Backing
It's as if Churchill, after warning the British people about Hitler for 8 years, and after watching the Germans sweep across France, had to listen to the Chamberlain supporters moan, "yeah, but you are just talking your book."
Let someone explain to me how a reinsurer can simultaneously be rated Aa3 and have its equity be worthless. Until those are reconciled, I recommend that the "talking your book" fools keep silent.
For Some Economists, The Maestro Can Do No Wrong
But he is Chief Econ of the NAR and it is in his job description: "Your comments on the housing situation and the economy at large must not scan for sense. You must in all cases assume your conclusions and in any communication tell listeners that "now is a great time to buy a house," whether that has any bearing or not on the facts presented."
Furthermore, Greenie was the best friend the Realtor ever had. Sure, a lot of them are going to have to transition back to pottery class, tennis lessons or whatever it was they were doing before they decided to get out of the house. But it was great while it lasted and they'd rather not hear Uncle Al the Gambler's Pal criticized.
Ackman's Plan for Bond Insurers Is the Best So Far
Ackman's Plan for Bond Insurers - Talking His Own Book
Here's another proposal- lend/invest billions to the insurers because this current market trouble is just temporary and will blow over soon (in the estimate of the CEO-of-the-day at Ambac). Oh wait- that proposal is also tainted by self interest.
OK then here's a third- Eric Dinallo suggests the monolines just fraudulently transfer assets out of the insurance subs to make sure there are funds to cover the muni bonds. I wonder if he might be interested in the outcome here?
All I'm asking for, is for someone to spend a huge amount of effort on structuring a solution to this problem despite his having absolutely no interest in what that outcome might be.
Does Anybody Care That Wheat Surpassed $10 A Bushel?
As you point out, the cost of wheat is a small portion of the cost of food products so don't look for any demand response to higher prices. Maybe we can persuade the Chinese to all go back to eating domestically produced rice so that prices will go down in the US.
Cellulosic Ethanol: The Next Biofuel Boom?
Financial Bottom Called: Timing Is Everything!
What the Housing 'Apocalypse' Prophets Aren't Revealing
Impact of Bad Weather May Spread to China Organic Agriculture
MBIA: Triumph of the Technocrats?
The 20 Largest Trading Losses in History
Marty Whitman on MBIA, Radian
Also what "extremely well managed" company departs from its tried and true, highly profitable business of insuring munis, which almost never default, for the completely untried business of insuring CDO squareds?
Even if these CDOs weren't blowing up, the simple fact that they "diworsified"... into a business they knew nothing about says all I need to know about this "excellent management."