Dear Readers,
As you may know from my occasional grumbles of the last week or so, I am currently abroad and bandwidth-impaired, yet trying to keep the blog and book moving forward.
I wondered therefore if you might be able to provide me with some leads on a topic I would like to discuss: the growth of the so-called shadow banking system. In particular, I wonder if any of you have seen good papers or articles (particularly ones that try to estimate size and growth rates of activity).
Please provide any ideas in comments, or if you have something you’d prefer to send me, please e-mail me at yves@nakedcapitalism.com. Thanks so much!
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From: Joshua Boak. McClatchy – Tribune Business News. Washington: Nov 13, 2008.
Such extraordinary profits warrant extraordinary scrutiny.
"In testimony, the managers said they did not object to having hedge funds report their positions to regulators, as long as the positions remain confidential."
"Making the information public would be the equivalent of the government having Coca-Cola divulge its secret formula, said Ken Griffin, who founded Citadel Investment Group, a $15 billion firm based in Chicago."
They may have to take home less than a $billion?