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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…

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 …

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…

July 24, 2008

Financial Markets
Too big to fail? Or too large to save? Thinking about the US one year into the subprime crisis

Emerging market financial crises in the 1990s followed a fairly consistent pattern. The country lost access to external financing. The sector of the economy that had a large need for financing – fi…

April 6, 2012

Defense and Security
Friday File: Malian Rebels Proclaim Independent Country of Azawad

Above the Fold. Tuareg rebel fighters in northern Mali today declared the independent country of Azawad. The announcement comes on the heels of the rebels’ rapid success in driving government forces …

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