Monthly Archives: March 2008

Ben Stein Watch: March 30, 2008

Ben Stein is back in the NYT again this week: after filing just one column in all of February, he’s managed no fewer than four in March. Doesn’t he have a film to promote or something? Stein this week turns … Continue reading

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Ben Stein Watch: March 23, 2008

Now that I’ve left the desert and I have proper internet access rather than trying to update the blog from my iPhone, I can finally get around to Ben Stein’s NYT column from Sunday. Given that I’m still on holiday, … Continue reading

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A Quick Note From Marfa

I said last week that BSC was going either to $2 or to $0. I regret the error.

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Taking a Break

At the end of the most hectic week in Market Movers’ year-long history, I’m off on holiday for the rest of the month. Posting will be sporadic at best for the remainder of March, and likely nonexistent until Wednesday. Unless … Continue reading

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Blogonomics: Gawker’s Payroll, Redux

You wanna know how much Gawker writers get paid? Well, let me tell you. Remember that they don’t really get salaries any more, just advances. And it’s been widely reported that bloggers on the flagship Gawker site get $7.50 per … Continue reading

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The JP Morgan-Bear Stearns Option Agreement

Remember Exhibit A, the stock option agreement between JP Morgan and Bear Stearns which no one made public? Well, it’s finally been filed with the SEC. And it says exactly what everybody’s been saying that it says, only in legalese … Continue reading

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Extra Credit, Friday Edition

James Cayne risks lawsuit as he seeks counter-offer for Bear Stearns: Is this why he didn’t sign the merger agreement? More on debt and net worth Fed funds question: Krugman asks if Fed funds can go much lower. I think … Continue reading

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Lehman: The Eisinger Effect

If you look at the one-day chart of Lehman’s stock price today, you’ll see that it was up a coupla bucks, happily crusing along, until early afternoon. Then, suddenly, in the last two hours of trading, Lehman’s stock skyrocketed in … Continue reading

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PDCF: A Veritable Firehose of Liquidity

We knew the Fed’s new Primary Dealer Credit Facility, where it lends money to investment banks, was being used: Morgan Stanley borrowed $2 billion Tuesday from the Fed using "pretty liquid" assets as collateral, said Chief Financial Officer Colm Kelleher. … Continue reading

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Howard Marks, The Optimistic Bear

Peter Lattman has the latest memo from Howard Marks, and it’s not pretty. If you want the most bearish soundbite, this is it: We’ve had collapses in the past, but never so broad-gauged and systemic. Marks foresees some drastic measures … Continue reading

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