Bronte Capital

  The WSJ reports :  The fall of   Washington Mutual   wasn't a surprise to the government. Nor was it a surprise to   J.P. Morgan ....

The US is a current account deficit country.   Get used to it.   You (and I am not an American so I can say you) have been spending more th...

As readers know I think the FDIC did a terrible job with the WaMu takeover .   In the WaMu case the FDIC without seemingly any justification...

POST SCRIPT:  Looking at the deal I think the FDIC has done better than I thought plausible...  it will probably get out whole.  That said -...

I lost money on this – so you can take my analysis with the caveat of a slightly angry grain of salt. But I still think the seizure of Washi...

Many of my regular and some of my more perceptive readers have asked about Wachovia.  To date I have studiously avoided stating my position....

A bank can be illiquid and insolvent.   This is a nasty end-game. It can be insolvent but not illiquid – when it has plenty of access to d...

A couple of days ago I blogged about how the FDIC was not talking to WaMu about taking them over.   That post looks really stupid now.   Bu...

When they let Lehman fail they thought it would be contained.  It wasn't.   Brad DeLong pointed out that when they let Lehman go the fun...

We now know they had a deposit run.  To quote the WSJ... Federal regulators said WaMu has suffered an exodus of $16.7 billion in deposits si...