May 2012
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“We used to rely on the public making dumb investing decisions,” one well-known...”
– With greater-fools-as-a-service, things start getting interesting.
via slavin
(via brycedotvc)
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“Bankia is a problem for Spain. We must learn that toxic assets need to be...”
– Robert Tornabell, a finance professor at the ESADE Business School, quoted by Miles Johnson in Bankia’s failure to face reality brings back crisis - FT.com
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“This report concludes that ACTA’s harm greatly exceeds its potential...”
– Michael Geist - The Trouble With ACTA: My Analysis of the Anti-Counterfeiting Trade Agreement
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Great Articles about Money →
tetw:
A Tetw reading list
The Best of Freakonomics by Stephen J. Dubner and Steven D. Levitt - How to make it, why we steal it , how to bet with it, and how it motivates us. A selection of the best articles from NYT column that became an international sensation.
To Have is To Owe by David Graeber - A lot of people have little understanding of what money really is - if you want to find out,...
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“How many billions in damages JP Morgan will have to pay out is not yet...”
– SEC Tells JP Morgan Enforcement Action Coming over Bear’s Mortgage Backed Securities Violations « TERI BUHL
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“Well, Jamie, I know, is a phenomenal banker. So I would acknowledge that if we...”
– Toronto-Dominion Bank CEO Edmund Clark, quoted in TD’s Clark: Speculation Puts Banking System at Risk | The Big Picture
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“I think a big part of the answer requires rethinking in a direction quite...”
– Linda Beale in Summers says taxes must increase | Angry Bear - Financial and Economic Commentary
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“At the board meeting in January, Lehman management explained that while other...”
– William D. Cohan in Lehman E-Mails Show Wall Street Arrogance Led to the Fall - Bloomberg
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“One of the major problems facing this country today, and its economy, is the...”
– Linda Beale in Summers says taxes must increase | Angry Bear - Financial and Economic Commentary
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“How can they make a decision like this behind closed doors, without explaining...”
– Toru Hashimoto, Osaka’s mayor, quoted by Martin Fackler in Japan’s Leaders Fret as Nuclear Shutdown Nears - NYTimes.com
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“Wall Street’s biggest banks have lost almost two dozen of their most-profitable...”
– Lisa Abramowicz, Christine Harper and Saijel Kishan in Billion-Dollar Traders Quit Wall Street for Hedge Funds - Bloomberg
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“The actual crisis struck in the three minutes between 2:41 p.m. and 2:44 p.m.,...”
– Mark Buchanan in Flash-Crash Story Looks More Like a Fairy Tale - Bloomberg
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“Responsible public finances are a necessary condition but certainly not...”
– Mario Monti, Italy Prime Minister, quoted by Alan Cowell and Nicholas Kulish in François Hollande’s Victory Sharpens European Austerity Debate - NYTimes.com
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“Now that Tor has dropped DRM – and acquired a valuable halo of virtue among...”
– Cory Doctorow in Why the death of DRM would be good news for readers, writers and publishers | Technology | guardian.co.uk
“Which federal program took in more than it spent last year, added $95 billion to...”
– David Cay Johnston (via azspot)
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“Third, the maturity mismatch on banks’ balance sheets generates an inherent...”
– Andrew G Haldane, Executive Director, Financial Stability and member of the Financial Policy Committee of the Bank of England, in Accounting for bank uncertainty (pdf)
April 2012
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“The CIO’s growing size and market power have made it an increasingly important...”
– Erik Schatzker, Christine Harper and Mary Childs in JPMorgan Said to Transform Treasury to Prop Trading - Bloomberg
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“What more is left to say at this point other than the fact that the hedge fund...”
– Dan Norcini, quoted in Jesse’s Café Américain: Saving Capitalism From the Capitalists: Are the Trading Desks Destroying the Futures Markets?
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“A second dimension along which banks’ balance sheets are different is the...”
– Andrew G Haldane, Executive Director, Financial Stability and member of the Financial Policy Committee of the Bank of England, in Accounting for bank uncertainty (pdf)
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“These days Mr. Mélenchon’s “civil insurrection” may look more inviting – a...”
– As elections approach, France contemplates a bonfire | John Lloyd
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“In sum, accounting rules in general, and fair value principles in particular,...”
– Andrew G Haldane, Executive Director, Financial Stability and member of the Financial Policy Committee of the Bank of England, in Accounting for bank uncertainty (pdf)
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ShortFormBlog: Citigroup shareholders seem to have... →
shortformblog:
$15 million bonus for bank exec rejected by shareholders source
» Citigroup CEO Vikram S. Pandit’s upcoming compensation package, along with the compensation packages of other executives, was voted down by a majority of shareholders during an investors meeting in Dallas. While the…
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“As the governor of a disaster-stricken prefecture, I think the central...”
– Fukushima Prefecture governor Yuhei Sato, quoted in Fukushima governor rips restart of Oi nuclear reactors - AJW by The Asahi Shimbun
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“Unequal societies get by because most members of them get by, and can mostly say...”
– As elections approach, France contemplates a bonfire | John Lloyd
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“We cannot rely upon laws or regulators to permanently prevent the follies of...”
– INET Presentation: Minskian Perspective on Instability in Financial Markets | Steve Keen’s Debtwatch
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“The ECB’s LTRO has bought a little bit of time, but if the policymakers...”
– Calculated Risk: Krugman: “Insane in Spain”
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“The operator of the crippled Fukushima Daiichi nuclear power plant on Friday...”
– TEPCO finds 35-ton machine fallen in Fukushima No. 3 spent fuel pool | Kyodo News
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“What happened to Spain was a housing bubble — fueled, to an important degree, by...”
– Paul Krugman in Insane in Spain - NYTimes.com
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“In what strikes me as the greatest combination since chocolate met peanut...”
– Rick Ungar in A Dose Of Socialism Could Save Our States - State Sponsored, Single Payer Healthcare Would Bring In Business & Jobs - Forbes
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“There are many reasons to be troubled by today’s high bankruptcy rates – more...”
– Jialan Wang in Bankruptcy costs and America’s household debt crisis | vox - Research-based policy analysis and commentary from leading economists
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“Wells Fargo’s actions were not only highly reprehensible, but its subsequent...”
– Hon. Elizabeth W. Magner, US Bankruptcy Judge, in Michael L. Jones vs Wells Fargo Home Mortgage Inc. (pdf)
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“The internal investigation also found current radiation levels of 72.0 sieverts...”
– Hiroko Tabuchi in Inquiry Into Fukushima Plant Suggests Worse Damage - NYTimes.com
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“Wells Fargo has taken the position that every debtor in the district should be...”
– Hon. Elizabeth W. Magner, US Bankruptcy Judge, in Michael L. Jones vs Wells Fargo Home Mortgage Inc. (pdf)
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“Monthly payments on a house are now cheaper than monthly rents on a similar...”
– Eric Wolff in HOUSING: ‘This is crazy’: Home ownership cheaper than renting
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“The top U.S. nuclear official said on Friday his agency has not set any...”
– Alex Dobuzinsky in No timetable for restarting California nuclear plant: Jaczko | Reuters
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“Based on U.S. Energy Department data, assuming a total of 11,138 spent fuel...”
– Robert Alvarez, former Senior Policy Adviser to the Secretary and Deputy Assistant Secretary for National Security and the Environment at the U.S. Department of Energy, quoted in The Top Short-Term Threat to Humanity: The Fuel Pools of Fukushima - Washington’s Blog
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“Wells Fargo applied payments first to fees and costs assessed on mortgage loans,...”
– Hon. Elizabeth W. Magner, US Bankruptcy Judge, in Michael L. Jones vs Wells Fargo Home Mortgage Inc. (pdf)
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“I was on the staff of the House Banking Committee in the second half of the...”
– James Galbraith, interviewed by Philip Pilkington in Finance as Wealth Transfer Mechanism: An Interview with James Galbraith « naked capitalism
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“The company announced this week that an examination of one reactor, No. 2,...”
– Hiroko Tabuchi in Inquiry Into Fukushima Plant Suggests Worse Damage - NYTimes.com
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“In Argentina and Brazil, as I show in the book, inequality started to decline...”
– James Galbraith, interviewed by Philip Pilkington in Finance as Wealth Transfer Mechanism: An Interview with James Galbraith « naked capitalism
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“A nation’s level of inequality has a lot to do with its underlying economic...”
– James Galbraith, interviewed by Philip Pilkington in Finance as Wealth Transfer Mechanism: An Interview with James Galbraith « naked capitalism
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“In practice, this means that once you use DRM, every cent your customers spend...”
– Cory Doctorow in A Whip to Beat Us With
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Robert Reich: Break Up The Big Banks, Says the... →
robertreich:
As the Supreme Court shows every sign of throwing out “Obamacare” and leaving 30 million Americans without health insurance, another drama is being played out in the quiet corridors of the Federal Reserve system that may affect even more of us.
Taxpayers will be on the hook for another giant Wall…
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March 2012
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“Among the many fraud-friendly policies that led to the deregulation that prompts...”
– William K. Black: The JOBS Act Is So Criminogenic That It Guarantees Full-Time Jobs for Criminologists
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“After a financial crisis the private sector tends to have lost significant...”
– Europe’s Counterproductive Economic Policies Proceeding as Expected « naked capitalism
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““How can you possibly suggest that they would pay you so
much money for an...”
– Anonymous reader comment in JPMorgan Sued by Trader Over $3 Million Decimal Point - Bloomberg
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“My main point is that the banks, despite 4 years of never-quite-materializing...”
– The ECB swallowed the market | Golem XIV - Thoughts
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“The Financial Policy Committee, set up last year to spot potential risks...”
– Angela Monaghan in Banks urged to raise fresh capital - Telegraph