Corruption in the Time of Coronavirus by Karen Parker Feld • Mar 29, 2020 • 279 Comments Now even the fig leaf is gone.
Helicopter Money for Wall Street by Wolf Richter • Mar 26, 2020 • 274 Comments Fed’s assets spike to high heaven to bail out the imploded Everything Bubble it had worked so hard to inflate over the past decade.
Four Mortgage REITs Collapse After Chaos Hit Markets for Residential & Commercial Mortgage-Backed Securities by Wolf Richter • Mar 24, 2020 • 187 Comments In good Financial Crisis manner, stuff blows up despite the Fed’s effort to stem the chaos. Now hoping for taxpayer bailouts.
Share Buybacks Are Toast for 2020: Oops, that was the $4.6 Trillion Driver of the Stock-Market-Bubble by Wolf Richter • Mar 24, 2020 • 113 Comments Even after the bottom is perceived to be in, “buybacks may be slow to come back” as companies struggle for cash amid potential government restrictions on buybacks and their dismal public image: S&P Dow Jones Indices.
Coronavirus May Deliver Coup de Grace to Overrated Commercial Mortgage-Backed Securities (CMBS) by Marc Joffe • Mar 24, 2020 • 72 Comments S&P made up for its tardiness by downgrading the CMBS in one fell swoop by 9 notches from AAA to BBB-, just one notch above junk.
What Are All the Fed’s Corporate & Investor Bailout Programs and SPVs? Here’s the Whole Shitload of Them by Wolf Richter • Mar 23, 2020 • 232 Comments Indirectly via its Special Purpose Vehicles and its Primary Dealers, the Fed can buy even old bicycles, as long as taxpayers take the losses.
Leveraged Loans Blow Out. Distressed Corporate Debt Spikes by Wolf Richter • Mar 23, 2020 • 252 Comments This is the moment when yield-chasing turns into a massacre.
It’s Just Day 22 of CoronaCrash, and It’s Already Such a Mess by Wolf Richter • Mar 21, 2020 • 336 Comments Kissing share buybacks and dividends goodbye.
Fed’s Balance Sheet Spikes as “Everything Bubble” Morphs into Financial Crisis 2 by Wolf Richter • Mar 20, 2020 • 188 Comments Drags out bailout creature from Financial Crisis 1: “Loans” to Primary Dealers.
Junk-Bond Spreads & BBB-Bond Spreads Blow Out Past Lehman-Bankruptcy Levels by Wolf Richter • Mar 19, 2020 • 191 Comments Frazzled by the sudden appearance of Financial Crisis 2, the Fed scurries in every bailout direction.
