Month July 2008

Poll shows Obama losing momentum

This isn’t surprising. In the past month Obama has gone from being a visionary with new ideas to just another politician tacking to the center during the general election, flip-flopping on his previous statements. Even those who aren’t on the…

Out of control in Sinaloa

Gunmen killed nine at an auto repair shop then three police who were pursuing them in what was clearly drug cartel violence. Parts of Mexico now appear to be just nominally controlled by the government. What happens when the violence…

Plunge Protection Team intervenes again

On Friday during market hours, a rumor went round that Helicopter Ben Bernanke was giving Fannie Mae and Freddie Mac access to the discount window, which would allow them to borrow huge amounts of money. The market rallied. After the…

IndyMac seized by Feds

This after a run on the bank. They are the second largest bank ever to fail in the US and were up to their eyeballs in subslime mortgages. It would be criminal if the executives that destroyed this bank were…