December 6

Mr. Chairman, How Much Leverage is Too Much?

Sunday night, as part of his ongoing efforts to add to communication efforts at the Federal Reserve, Chairman Ben Bernanke told viewers of the venerable 60 Minutes that the Fed would not hesitate to increase the size and scope of it asset purchases (i.e. more “quantitative easing”). We continue to be mystified by the logic.

September 25

Asian (Con)Fusion: US Fiscal and Monetary Policy At Work

As the “Greatest Deleveraging in the History of the World,” continues along a bumpy road, with the bumps created by well-meaning political leaders, one must sit back and ask what we can learn from the past in order to better understand the present. I would relate current US fiscal and monetary policy to a form.

June 2

“Obscure Deleveraging” and Your Company’s Portfolio

Soon after I wrote about the ‘Restructuring Dance’ helping to maintain the climate of greed in financial markets, the cycle swiftly turned. The ‘Dance’ ended quickly as none of the dancers requiring restructuring took to the floor. Neither Greece, nor other highly levered sovereign credits, nor Wall Street, nor the rating agencies took the restructuring tango.  With.

April 25

The Restructuring Dance – How Long Will This Be Going On?

Financial markets have continued to be buffeted by some bad news, which has mostly been ignored.  Meanwhile, key indicators like bond spreads and equity levels have recovered from, and in many cases improved beyond, where they were when Lehman Brothers was forced to bid adieu. Thus, it seems like we may be entering the greed phase of the.