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Debate #2, The Morning After

Question of the Night:  Why should we trust either one of you? Good question.  In typical politico style, I heard both candidates answer in this manner:  “Blah, blah, blah, yak, yak, yak”. I don’t know how I would have answered the question if I were...
Market Panic

Market Panic

All right, perhaps panic is too strong a word, but my goodness, it certainly does feel like one. The Dow Jones Industrial Average fell 5% today and is now down 30% since January 1. The S&P 500 is down 33.7% year to date and the NASDAQ is off 35.6%. This is indeed a bear market, but there is nothing rational about it whatsoever. The sell off appears to be about nervousness investors are feeling about the future, the global economy, the bailout, corporate earnings. I try to keep a cool head, but the Dow is down 800 points in two days and even I wonder where it's going to end. Then I remember what Warren Buffet said...

Presidential Debate 2: The Town Hall

We'll be live blogging here tonight beginning at 9:00 PM Eastern Time. If we have difficulties with the CoverItLive.com tool again, we will revert to using comments instead. We look forward to your input! Update: Once again, CoverItLive has failed us. Please click to the comments page for this post to follow the live blogging, and feel free to participate! The debate is complete, we're done blogging for the evening! Read the comments if you're interested in our thoughts!

2008 Election Thoughts

I’m tired of everyone dumping on George Bush.  I’m the first to admit that he has some serious leadership deficiencies, but he is the President and won the job fair and square twice, despite what the Libs think.  As President, he deserves our respect, just like...
Presidential Debates 2: The Town Hall Preview

Presidential Debates 2: The Town Hall Preview

Well, we all wanted a town hall (actually, we wanted a bunch of them), so here we are. What should we expect? First of all, here at TCR, we plan to have live blogging once again. I'm hoping that CoverItLive has their act together this time. I never heard back from them after Thursday night's debacle, and I really don't want to through that again. Regardless, join us here Tuesday at 9:00 PM Eastern as we bring you analysis as it happens. With regard to content, I'm not sure what to expect with the audience and questions. Lynn Sweet from the Sun-Times tells us:
Wells, Citi And Wachovia Take A Breath

Wells, Citi And Wachovia Take A Breath

After a weekend of back and forth, one judge's order to stop Wells and Wachovia from proceeding on Saturday, and appellate court overturning that order on Sunday, and a $60 Million CitiGroup (C) suit against both Wells Fargo (WFC) and Wachovia (WB), the three parties have agreed to a temporary halt to all litigation and discovery until Wednesday at noon. Which just demonstrates the fallout that can be expected as the government (in this case, the FDIC) strong-arms companies to act, no matter how imprudently, to prevent the government from stepping in and (in this case) taking yet another bank into receivership.

Biblical Worldview of ‘Walking with Dinosaurs’

Prior to the start of the school year, a parent very wisely asked me to write an article which essentially responds to the following question - "How can a Christian effectively respond to ‘Walking with Dinosaurs: The Life Experience,' a traveling stage show which depicts dinosaurs as they lived prior to extinction?" The "Walking with Dinosaurs" production is described by the producers as a "dazzling arena spectacle of unprecedented size and quality," and it is scheduled in Des Moines for October 1-5 at the Iowa Events Center. What's the rub?! Why any controversy?! Dinosaurs are cool! Dinosaurs fascinate people, particularly schoolchildren. "There's no harm in studying dinosaurs," you might say.
Wells Fargo: Smart Like Buffett

Wells Fargo: Smart Like Buffett

It probably comes as no big surprise that Wells Fargo (WFC), one of the largest banking concerns in the US, well diversified in financial products across deposits, lending, credit cards, sales finance, and a smart mortgage originator, announced Friday that they had made a deal to purchase the entire Wachovia package for $15.4 Billion. The surprise comes with the fact it was five days late. The deal undercuts CitiGroup's (C) announced purchased of part of the Wachovia (WB) operation, and does what CitiGroup could not do: completes the deal without Federal Funding. I was shocked when I heard, since Wells had originally participated in negotiations last weekend along with CitiGroup. Wells evidently was able to use the week, in which a contract had not yet been signed, to perform additional due diligence, and came up with an offer Thursday evening.

Moral Hazard

If you’ve not read Daniel Henninger’s column in the October 2, 2008 edition of The Wall Street Journal, I encourage you to.  In this column, Mr. Henninger defines the term “moral hazard”, particularly as it relates to Wall Street, Fannie Mae...
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