Alice's bubble wrap

When fortune frowned

The economist has just put together a special report on the financial crisis, which is well worth a read.

"Provocative as it may sound in today’s febrile and dangerous climate, freer and more flexible markets will still do more for the world economy than the heavy hand of government. "

Sadly, the heavy hand of government is now back in fashion.

Councils call for savings guarantee for Icelandic deposits

"Britain grappled with the fallout from Iceland's financial crisis on Thursday, as local authorities sought guarantees over hundreds of millions of pounds invested in frozen Icelandic banks."

UK eyes 7.5 pct core capital ratio for bank plan

So the UK governments waits higher capital ratios. If we had higher ratios, there would have been no housing bubble.

U.K. Economy Entered a Recession in Third Quarter

Lets hear it one more time "NO MORE BOOM 'N BUST"

FHA Seller-Funded Down-payment Outfit Sues ML-Implode In Effort To Silence Criticism

The US blogger ML-implode is being sued by a lender. Nasty stuff.

money markets still frozen

From Naked capitalism

I wrote this post in April 2006. And remember, according to Fannie Mae's CEO, nobody saw this coming.

Keith from housingpanic at his best.

Web traffic jam as people search for financial news

This crisis is definitely good for bloggers. My traffic is way up.