In classic the cobbler’s children go unshod fashion, I do a horrible job of monetizing the site (but I have made some progress on that front) and have even fallen behind on the sort of thing I normally do religiously, submitting for expense reimbursements (still haven’t sent receipts off to my publisher for what they’d […]
Read more...Michael Pettis, like Simon Johnson a few days ago, has tried mapping out what he thinks future scenarios for the eurozone might be, and what that means in terms of possible winners and losers. One of Pettis’ strengths is that he takes the time to be explicit about his reasoning, which gives readers the opportunity […]
Read more...I’m clearly a hopeless old fart. In my youth, the hot joke gift was a Pet Rock. No kidding, it sold millions and made someone very rich. But then Pet Rock 2.0 was Tamagouchi, the electronic pet that responded to how much care you gave it. Distressingly like a real pet, it would die of […]
Read more...We’ve had a series of posts (see here, here, and here) on the judge’s decision in a case called Kemp c. Countrywide, which provided what appeared to be the first official confirmation of what we’ve long suspected and described on this blog: that as of a certain point in time post 2002, mortgage originators and […]
Read more...→ Washington’s Blog I have repeatedly documented the detrimental impacts of dispersants on humans, wildlife and seafood safety. See this, this, this, this, this, this and this. As I noted in September, scientists from Oregon State University found elevated levels of polycyclic aromatic hydrocarbons (PAHs) in the Gulf, and blamed dispersants. Now, the website of […]
Read more...Acupuncture changes brain’s perception and processing of pain PhysOrg Hoard of 271 Picasso works found in garage Financial Times Food Banks Bracing For End Of Extended Unemployment Benefits Huffington Post WikiLeaks shows out-of-control US secrecy David Rothkopf, Financial Times WikiLeaks: Ayatollah Khameni has terminal cancer Telegraph Wikileaks: It Could Take Down a Bank Or Two […]
Read more...As much as I’ve seen a lot of financial services industry misconduct at close range, sometimes even a cynic like me is not prepared for how bad things can be. And mortgage abuse is turning out to be one of those areas. I’ve been in contact for over the last six months with attorneys involved […]
Read more...Readers may recall that I’ve been a long-standing critic of Gerson Lehrman, a “research” firm that signs up so-called experts to provide information to clients, typically hedge funds. The problem with the Gerson model is the experts are often full time employees, and hence are effectively re-selling information they learned on their employer’s nickel. I’ve […]
Read more...The US stock markets are harboring the fond notion that the sovereign-bank debt pile-up in Europe has no real implications across the pond, no doubt out of professional participants’ hope to retain solid gains thorugh year-end bonus setting. The debt markets are saying otherwise. Credit market risk aversion typically precedes a stock market correction, but […]
Read more...By Marshall Auerback, a hedge fund manager and portfolio strategist who writes for New Deal 2.0. Despite a blame-a-thon on Ireleand, Germans banks are really at the core of the eurozone catastrophe. Much ink has been spilled in the press over the Irish problem and the laxity of the country’s southern Mediterranean counterparts in contrast […]
Read more...On the one hand, I’m being proven somewhat wrong in my dismissive views of the impact of Dodd-Frank. Credit default swaps, a product I’ve viewed as essential to rein in (it’s a fee machine for Wall Street that has produced clear harm and has almost no socially productive uses) have fallen markedly in volume prior […]
Read more...Apologies for delayed links and lack of my own posts. Not only was the admin part of the site inaccessibile during my normal posting hours (which was pretty peculiar), but because I’m working on an antique Mac (will not bore you with story involving new machine and data recovery), a browser freeze meant I lost […]
Read more...By Richard Alford, a former economist at the New York Fed. Since then, he has worked in the financial industry as a trading floor economist and strategist on both the sell side and the buy side. The YouTube video “Quantitative Easing Explained” has surpassed 2.9 million views. The video is both entertaining and unremittingly critical […]
Read more...Yves here. While Quinn has a deliberately (some might say overly) provocative style and I quibble with some of his supporting arguments, his overarching observation, that America is wedded to an economic model past its sell by date, and that model has damaging social and political consequences, is one I believe will resonate with many […]
Read more...From the look of it, the Irish bailout is taking another chunk of another one of FT Alphaville stalwart Neil Hume’s weekends. From Peston European finance ministers are struggling to reach agreement on the interest rate to be paid by Ireland for the €85bn of rescue finance it is set to receive from the EU […]
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