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Monthly Archives: February 2009

The bad bank

What it is: The federal government would create a bank that would buy the mortgage back securities (a.k.a. toxic waste) on the balance sheets of the large US banks. Why do it: Many large US banks are either insolvent or close to being so if you valued the mortgage backed securities on their balance sheets at a current market price (so called mark-to-market rules). […] Read the rest of this entry »

China update

We are bombarded with financial news. Most of the focus is on economic activity in the US because it is the largest economy on the planet, and is of particular importance because it is – after all – where we live.  With that said, if it seems like there is a great deal of news coverage about China, there is.  China is important because: […] Read the rest of this entry »