Finance Commentary

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CFC Cuts Ad Spending But Why is the Real Question

By The Prince ⋅ February 23, 2008 ⋅ 2 comments

Here is some very interesting data posted by Paul Kedrosky over at Infectious Greed which shows that Countrywide’s online ad spending fell off a cliff in January. Yet, it wasn’t just Countrywide that cut back, financial servicers advertsing was off by 17% on a month-to-month basis. The Prince isn’t surprised by this since anything that [...]

The Prince’s Monoline Roundup

By The Prince ⋅ February 22, 2008 ⋅ 4 comments

The Prince has come to the conclusion that the financial blogosphere is doing a much better job covering the monoline (i.e. bond insurers) debacle than the traditional financial press. There has been a plethora of interesting analysis and thought provoking work done on the recent trauma involving bond insurers by bloggers.
The Prince has contributed [...]

U.K. Braindrain

By The Prince ⋅ February 21, 2008 ⋅ Post a comment

21 Feb 2008 - The Telegraph in the U.K. is out with a story tonight about how the brain drain of educated U.K. citizens is the worst it has been in 50 years. You can read the article for yourself here. To quote The Telegraph, "Britain is experiencing the worst "brain drain" of any country [...]

Speculation and Fraud in Mortgages? A Blind Eye.

By The Prince ⋅ February 19, 2008 ⋅ 9 comments

One angle of the mortgage crisis that has been incredibly under-covered by the financial and mainstream press is the adverse role that fraud and speculation played in the crisis. The Prince first began to seriously consider the scale and reach of fraud in obtaining mortgages by single home homeowners, originators, originating mortgage brokers, wholesale originators, [...]

Credit Suisse Rolls Over Troubled UBS

By The Prince ⋅ February 14, 2008 ⋅ 4 comments

The Prince does admit that the typical Morgan Stanley v. Goldman Sachs v. JP Morgan commentary does get old. Bloomberg today drew attention to another rivalry that doesn’t get as much attention in the U.S., the Credit Suisse v. UBS rivalry. The Prince is trying to block out comparisons he wants to make to college [...]

What M&A Slowdown?

By The Prince ⋅ February 9, 2008 ⋅ Post a comment

There have been a number of articles recently saying that M&A in January was not as far down as the financial media has been claiming. MarketWatch’s David Weidner recently wrote, "that despite dire predictions of a M&A slowdown, the M&A rush that fueled the market’s outsized gains last year may not be slowing after all [...]

Buyout Debt: You Can’t Get Rid of It

By The Prince ⋅ February 6, 2008 ⋅ 3 comments

When the leveraged loan and high yield debt markets shut down this July the speed of the problems shocked many. I remember hearing the heads of sponsors and leveraged finance teams say that the pullback of investor demands was the swiftest they had ever seen. From early July and throughout the summer the problems continued [...]

Bond Insurers Not Federal Reserve Drove Market

By The Prince ⋅ February 3, 2008 ⋅ 2 comments

Last week after all the speculation about how much the federal reserve would cut rates, the real market mover turned out to be speculation about the troubled bond insurers. On the 30th of January, when the Federal reserve cut interest rates by half a percentage point, the markets briefly rallied but then closed down after [...]

Did SocGen Spark Global Selloff? Fed’s move?

By The Prince ⋅ January 24, 2008 ⋅ 3 comments

There is a theory circulating around Wall Street today about why markets got hammered on the 21st of January globally and on the 22nd in the U.S. It is pretty interesting and may hold some grains of truth. It also offers some insight into how the federal reserve may act at their up coming meeting.

At [...]

Christmas is Over and Banking is Banking

By The Prince ⋅ January 22, 2008 ⋅ Post a comment

The Prince loves a great debate and there is a great one going on right now over banker pay. The traditional financial media has been abuzz recently with pieces critical of banker’s pay. Some of the pieces call for claw-back provisions to be added to bankers’ bonuses. The financial media is essentially saying that in [...]

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