John Mauldin's newsletter is very informative. He has encouraged his readers to forward to others, so I have chosen to post it in its entirety on the FREEP. I don't know if the graphics (graphs and charts) will show up -- if you read this and want me to forward a copy of the email, use Freep-mail to give me an email I can forward to.
There are a few financial analysts like Mauldin (and Mark Boucher) who have been warning about this crisis for the past year or so. They are free-market guys but both have advocated the need for coordinated actions like the ones discussed here. Please give this a fair read and not dismiss it out of hand. These are extraordinary times and events -- and hopefully this will serve as a major wake-up-call for cleaning up so many of the excesses that have distorted our global financial system for so many years.
John Mauldin consistently gives one of the best wtiteups about this whole credit/liquidity mess.
stock market ping/analysis
Well-run midsize or regional banks should be growing like crazy right now, but they are being held back by all the attention paid to the big banks and the special Treasury access that the larger banks get.
Let the big ones fail, and let the better-run regionals take over.
Thanks for posting this. I went to the link and got the whole newsletter just for giving them an email addy. I used my gmail account so that I can duck the spam if there is any.
It is great to see an article about the crisis that explains some of the details. The extraordinary amount of foreclosures on new homes and condos in the construction business gives me some insight into the mortgagee bailout that McCain proposed. I was dead set against it because it looked like pandering to deadbeat homebuyers. Sooner or later those new homes are going to have a high value again. The population of the US is rising and it is uncomfortable under the bridges.
Shiboleth:.... “We are so screwed”...