De-leveraging is the force driving market prices lower.
Don’t be overly impressed with its fancy finance-geek name. It’s just an economic term for selling off assets to pay down debt.
The Macro View
It’s at the core of the $700 billion rescue package. The lenders’ capital base is too small to support the weight of all […]

Shaking out the good from the bad.
The news from the U.S. Automakers is that they are bailing out of the auto lease business. See the Wall Street Journal’s article, “Detroit Prods Drivers to Buy Instead of Lease” (7/30/08, page DI ).
Like all financial news, this is being profiled as yet another in a long […]