Germany has another Landesbank

German governments injects €10bn in Commerzbank for a 25% stake; German exports fell by over 10% during November; France emulates Germany’s attempts to set up a fund to support credit constrained companies; Merkel and Sarkozy have a tough message for Obama: don’t block our attempts to reregulate finance; how about this for a record: the Bank of England, meanwhile, cut interest rates to the lowest level since 1694.

Elimination of CDS as the necessary prerequisite for recovery

By: Svetlana Boyarchenko and Sergei Levendorskiĭ

Credit default swaps are so toxic that they have to be eliminated before any meaningful recovery can take place.

2009 Prospects – Trench Warfare

By: Satyajit Das

And this is the author's outlook for 2009.

2008 Review - Look back in Horror!

By: Satyajit Das

This is the first in a two-part series with a review of 2008, and an outlook for 2009.