The best is saved for the last in this excellent article. It’s where the author (Espen Eckbo) describes bail-outs as a zero sum-game, if the tax payers do not get the best deal (that is, the biggest equity stake), someone else (shareholders, management..) will..
Entries from February 2009
February 28th, 2009 · Comments Off on Lessons from the Skandinavian bank bail-outs of the early 1990s
Tags: Credit Crisis
February 26th, 2009 · 1 Comment
English football used to be a guarantee for spectacle, although not always technically and tactically at the forefront, at least it had huge entertainment value. Bar a few exceptions, this is no more. By far the worst offenders: Liverpool. We can’t even bare to watch them for 10 minutes without falling asleep. It has nothing […]
Tags: Fun and Games
February 25th, 2009 · 1 Comment
A couple of words come to mind. We will spare you, we’re sure you can come up with your own..
Tags: Credit Crisis
February 25th, 2009 · Comments Off on Japan in the doldrums
Anyone who thinks that things are not seriously wrong, read this. And we’re talking about the second biggest economy in the world here…
February 25th, 2009 · 3 Comments
Suddenly, capitalism is in flux. The superiority (or at least, perceived superiority) of the Anglo-Saxon free market model has waned. What’s next? Critics of the bail-out and expansionary fiscal policy to stimulate the economy scare us with a socialist vision of big government. Some corners of the US political spectrum orchestrate a tax revolt. Do […]
Tags: Public Policy
February 23rd, 2009 · 14 Comments
A few comments from us
February 23rd, 2009 · 1 Comment
The International Energy Agency recently published a large field by field study. The big, cheap existing fields are declining almost 5% on average. Here is one of them, the third largest oil field in the world. And it has nothing to do with falling demand..
February 21st, 2009 · 2 Comments
So much for that predicted US natural gas glut…
February 20th, 2009 · Comments Off on Krugman for president! II
As much as we dislike personal idolatry, however, we can’t disagree with this. If only because we wrote something similar a couple of weeks ago..
February 20th, 2009 · 3 Comments
We already noted it earlier, but the sums are large, and the format is nice: cash strapped energy developers get cash for long-term supply contracts.