crisis

The sentiment du jour is one of suspicion

December 31st, 2007|by Michael Ashley Schulman, Perspectives, The Big Picture|

The sentiment du jour is one of suspicion. There is still a crisis in trust and confidence. Few investors believe that earnings disappointments and asset write-offs in the financial sector are over, even though bank stocks have collapsed over 40% peak-to-trough and several bank CEOs have lost their jobs as a result of colossal losses. […]

The credit market crisis is unprecedented

November 30th, 2007|by Michael Ashley Schulman, Perspectives, The Big Picture|

The credit market crisis is unprecedented in recent history and is deeply rooted in the bursting of the speculative U.S. housing market bubble and the ensuing supply glut. The housing crisis and its effects may go from bad to worse before getting better. Nationwide, 635,000 foreclosure filings — default notices, auction sale notices and bank […]