Bronte Capital
The sometimes eccentric views of John Hempton
Wednesday, September 24, 2008
The FDIC and WaMu
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I have noted that the FDIC seems to take a lot to take over a bank . It took 42% non performing loans (versus about 4% and WaMu) for the F...
The oil price spike
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Lots of amazing things have happened in US capitalism in the last ten days. Monday's oil price spike has been lost in the noise. But i...
3 comments:
Tuesday, September 23, 2008
How much does it take to get the FDIC to take over a bank?
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Last Friday’s FDIC event – the takeover of Ameribank – has given me some thought. It’s a small bank – it has 8 branches, 112 million in ass...
7 comments:
Monday, September 22, 2008
WSJ on WaMu
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The Wall Street Journal is reporting on the (tense) WaMu negotiations. As readers know I have a (very speculative) dog in this game as I pu...
2 comments:
Paulson stops thinking, starts acting
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As regular readers know I am not averse to bail-outs. The goal however is to get the best effect (ie return of normal lending, normal funct...
4 comments:
Saturday, September 20, 2008
Things you can’t do with the short-selling rule
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This is a little winge – but it also exposes another unintended consequence. These days financial institutions are much more concerned abo...
2 comments:
Ambac’s shocking press release
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I have meticulously (and I mean meticulously) gone through Ambac’s reserves (and MBIAs). Ambac is fairly close to accurately reserved. MBI...
Friday, September 19, 2008
SEC tries to bankrupt Wall Street
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We are in the mode of dumb panic policymaking. I wake up (jet lagged) and read that the SEC is considering a temporary ban on short-selling....
5 comments:
Wednesday, September 17, 2008
What comes around goes around
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Herstatt Bank went bust in 1974. I was at primary school so I don’t remember. It’s a famous bank bust because it gave its name to time zo...
3 comments:
Constructive uncertainty redux
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Warning – this post is designed to annoy market fundamentalists and the naked short selling crowd… The main argument against nationali...
4 comments:
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