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Introduction
Over the last several decades, governments have collectively pledged to slow global warming. But despite intensified diplomacy, the world is already facing the consequences of climate…
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December 20, 2012
United States
Middle East Matters’ Ten Most Significant Developments of 2012
Here it is: the second annual Middle East Matters year-end roundup listing the ten most significant Middle East developments of 2012. Since this blog focuses on the interplay between U.S. policy and …
August 20, 2007
Financial Markets
Reverse engineering financial engineering
The process that turned subprime mortgages into triple AAA rated securities is, by now, pretty well known. Rich Bookstaber (his blog is here) describes the process nicely.Here's the recipe for a CD…
February 10, 2009
Financial Markets
Toxic banks or toxic assets?
Two weeks ago, George Soros memorably framed the core choice the US now faces as a choice between buying toxic assets or taking over toxic banks. “The hard choice facing the Obama administration is …
June 30, 2005
Capital Flows
CNOOC (once again)
The CNOOC bid presumably is motivated by two things. One, Beijing has plenty of cash, and already holds more Treasuries than it wants, so it wants to diversify its portfolio. As I argued earlier, C…
August 17, 2007
Financial Markets
Conduits, SIVs, cash-hoarding, commercial paper restructuring and such
Yves Smith of Naked Capitalism is right – If Gillian Tett of the FT disappeared, we would be in a whole lot of trouble. I wouldn’t be surprised if a lot of central bankers rely on her reporting to…