September 17, 2008
Time to Start a Bank
Posted by TMLutas
Reading a Main Street v Wall Street piece by Ed Cone reminded me of that old chestnut of capitalist wisdom "when blood's running in the streets, the greatest profits are to be had." Well, the financial streets are running with blood and major profits are to be had. Good deals are left on the table that will provide great profits at reasonable risk rates because the incumbents all lost their minds in the preceding expansion and badly invested their depositors money. With only projects that would get funded in any economy currently being looked at by many banks, the financial players willing to look closely and invest in a great story have been winnowed down to near zero.
This is where the previously prudent can make a killing by funding those projects that almost qualify for bank financing and would have qualified even under the normal scrutiny of 20 years ago but do not qualify today. These sorts of ventures will not make any headlines. Why should they? The more they draw attention to themselves, the more competition they will have from other groups. But those seeking capital will find them and be quite happy for their discovery.
September 16, 2008
Posted by TMLutas
I think that Ann Althouse is missing the boat on her fisking of Obama's "Honor" ad. This ad has an audience of one, John McCain. McCain's famous for holding his honor in high regard. He moved mountains to erase the stain of being caught up in the Keating Five scandal. He's also famous for his temper. Being called dishonorable like this isn't going to directly move a lot of voters. It's too crude, too 'in-your-face' to move the undecideds. But if McCain loses his cool, if he goes into a sputtering rage in defense of his honor, now that would move independents.
Every other effect of this campaign is incidental. Obama's banking on being able to break McCain psychologically. If Obama's campaign can do it, McCain's not the same man who withstood the N. Vietnamese interrogators so well. But I don't think Obama can, no matter how low he goes.
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