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Daily Archives: April 25, 2009

Rogoff: Stress test not stressful

Interview of Ken Rogoff, former IMF chief economist and professor at Harvard Economics. He predicts unemployment rate will peak at 11%.

Whitney on current state of banking

This is a must-watch.

Note: Meredith Whitney is again dead right on her forecast of credit line cut. Yesterday, I just received a letter from my credit card company and my credit line was cut in half. I have a very high credit line but I almost never borrowed money. Cutting credit line will save banks from putting extra reserves for the potential loss. So in this environment, your FICO score does not matter.