It would be nice to be able to say when this will settle down, but as the old market cliché goes, no one rings a bell when markets hit a bottom.
Read moreSubprime Loans Are Back!
Five years after the worst of the financial crisis, subprime loans are creeping back, this time primarily in the form of auto loans. As U.S. auto sales have surged, credit standards have moved lower, with more than a quarter of all auto financing now classified as subprime.
Read moreShocked. Shocked!
The publication this week of Michael Lewis’ new book Flash Boys has led to a heated debate about the role of high-frequency trading in today’s global financial markets. The most contentious spark was Lewis’ claim on 60 Minutes that the prevalence of such trading means that our markets are “rigged,” an accusation that touched a nerve and set off a furious series of discussions in the past few days.
Read moreStormy markets, smooth seas
It came and went like a summer thunderstorm, but unlike meteorological events that inflict actual harm, the sharp gyrations of financial markets exist in their own never-never land of self-fulfilling prophecies and conventional wisdom.
Read moreCheers to Ben Bernanke & Central Bankers
The Fed will keep interest rates low for several years and aggressively buy up bonds, Ben Bernanke announced today. When will elected officials catch up to the unsung heroics of central bankers?
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