Month: July 2008

What Happens Next to Fannie and Freddie?

Insolvency of the Fannie and Freddie Predicted Two Years Ago. What Happens Next? Or How to Avoid the “Mother of All Bailouts”
By Nouriel Roubini
2008-7-11

A pretty good article from Nouriel Roubini. A choice quote below, then on to the article.

“Privatizing profits and socializing” losses may dominate the policy outcome. Financial institutions love a system where they gamble recklessly, pocket the profits in good times and let the fisc (taxpayer) pay the bill when their reckless behavior triggers a financial crisis; this is socialism for the rich. That is why you already hear the whole Wall Street Greek chorus moaning for a bailout of the GSEs.

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BuzzPal Mentioned in the Media Today

BuzzPal – The World Is Your Party, got it’s first press mention today:

The article is about the new generation of Swedish startups and Seedcamp, which is basically the European version of Ycombinator. BuzzPal may be participating in Seedcamp, coming to it based on the suggestion of Anders Fredriksson, one of last year’s participants. Anders is a friend and contact here in Gothenburg. Thanks, Anders. -Chris

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“Must Read” Article And PDF

This essay is a “must read,” which is a phrase I can’t remember the last time I used. It’s 15 pages and I can’t even give it a proper introduction, you simply must read it, IMHO. And then ideally do something. I leave it to you to decide what. Here is the link to an introductory article on the NYT website, where you can find other links. And here is a link to the essay by Erik Camayd-Freixas.

Some excerpts and then on to the article:

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Varberg and Ride on Johan’s Restored Wooden Boat

www.chrisco.us

www.chrisco.us

www.chrisco.us

Johan has been bought this boat last summer and has been restoring it all winter. It is sweet! A classic. The other old wooden boat you see is a friend of Johan’s boat. It’s almost 100 years old and is completely restored. I think he just put it up for sale (I think around $100,000). And before you ask about the dog, Otto, no we didn’t slip him a space cake, he’s just happy.

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Red, White, and Bruce

www.chrisco.us

www.chrisco.us

www.chrisco.us

These first three pics and this concert video (“Radio Nowhere”) are from the Gothenburg Post, which gave the show a perfect 5-lighthouse rating. I do too, but I was scared for a few minutes when they opened up with “Born in the USA” and the sound quality was horrible. But they tuned it up fast and it was loud, crisp, and clean for the rest of the 3-hour concert (9:00 to midnight).

Below are pics from our pre-party BBQ at Martin and Anna’s place and then my concert photos, some of them blurry and probably should not have been posted, but screw it, here they are!

Happy FOJ everyone! I might update this post later with an original (but low quality) video clip or two. Cheers.

PS: Here’s a link to yesterday’s post and pics about how we got our Bruce tickets (camped out in December).

UPDATE #1: NEW VIDEO CLIP: Here’s one of the video clips I shot (will post more later if any good). Depending on how sentimental [or empathetic] you are, this one might tug your heart strings, the way it did mine.

UPDATE #2: NEW VIDEO CLIPS: 4th of July, Asbury Park (Sandy).

UPDATE #3: NEW VIDEO CLIPS: Out in the Street.

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Bruce & The E Street Band in GBG Today

www.chrisco.us

www.chrisco.us
Yes, Mr. “Born in the USA” is doing his American Independence Day show here in Gothenburg, Sweden, and Susanne and I are going (it’s her birthday present from me). Before the show, 18 of us will gather at Martin and Anna’s place for a BBQ and some pre-partying. Looks like it’s going be a perfect day weatherwise, perfect blue sky and 25-30 degrees Celsius. That is the ultimate summer weather in Sweden, it does not get any better. (more text and images below)

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Market Update – Listening, Watching, Smelling

Time for a quick market update: Last time I posted on this was May 12th (see here), when I thought that the rally from the March low was probably just a classic relief rally and that that rally had probably run it’s course. As the chart above shows, that turned out to be correct.

Now we are back near, at, or below the March low, depending on what stock and what index you are looking at. What that means is…

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