“Just How Useless Is the Asset-Management Industry?” -
Stephen J. Dubner, freakonomics.com
An interesting article on the Harvard Business Review blog, by Justin Fox, on a topic that most investors already have a strong feeling (or should I say “bias”?) about. It may not, therefore, change anyone’s mind — but the fascinatin…
California Attorney General Sues JP Morgan Over Debt Collection Abuses, Including Sewer Service, Robosigning
Yves Smith, nakedcapitalism.comCalifornia Attorney General Kamala Harris is on a roll. There’s been a fair bit of media coverage about abusive debt collection practices, particularly in credit cards, but at least until Harris filed a suit on Thursday against bank miscreant JP…
Bill Black: Brown-Vitter Will Not and Cannot Work but it is Criminogenic -
Yves Smith, nakedcapitalism.com
Yves here. Like Black, I see Brown-Vitter as well-intended but seriously flawed. One of my big concerns is that it does not deal with the real driver of systemic risk, which is tight coupling. Per Richard Bookstaber, our financial system is “tight…
Bernanke: Monitoring the Financial System -
Barry Ritholtz, ritholtz.com
Monitoring the Financial System
Chairman Ben S. Bernanke
At the 49th Annual Conference on Bank Structure and Competition sponsored by the Federal Reserve Bank of Chicago, Chicago, Illinois May 10, 2013 We are now more than four years beyond …
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Methodology
To calculate compensation ratios, Bloomberg used the most recent chief executive officer pay figure reported to the Securities and Exchange Commission as of noon on March 26. …
Eric Schmidt defends Google tax affairs, saying firm was key to UK growth
Press Association, guardian.co.ukGoogle executive chairman says firm’s tax arrangements “fully comply with the law” and notes its investment in Britain
Google’s executive chairman Eric Schmidt has defended the internet giant’s tax affairs, saying the firm was playing a key role…
Viacom gets its ass handed to it again by a court in its YouTube lawsuit -
Cory Doctorow, boingboing.net
For years, Viacom has been embroiled in a bizarre lawsuit against Google, asserting that Google had a duty to figure out exactly which videos uploaded by it users infringed on Viacom’s copyrights and stop them from showing (Viacom’s…
By Neil Irwin„ washingtonpost.com
Three days that saved the world financial system
INTERACTIVE TIMELINE: The inside story of five years of crisis with the world’s top central bankers. (Photo illustration by Darren Haggar and Tal Goretsky)
Published: MARCH 29,…
Neil Irwin, washingtonpost.com
This timeline follows the inside story of five years of crisis with the world’s leading central bankers. Read Post columnist Neil Irwin’s book The Alchemists for the full story on the global financial crisis and its aftermath. Rea…
Following up on my earlier post, about people swimming in a stream of economic change over which they have no control:
As I often do, I was re-reading some old Steve Randy Waldman posts, and …
Difference Between Bankers & Pirates
Barry Ritholtz, ritholtz.com
Doubling Down On What Caused the Financial Crisis -
Washingtons Blog, ritholtz.com
Big Banks and D.C. Politicians Doing the EXACT SAME THINGS Which Caused the Financial Crisis In the First Place — Instead of Changing their Behavior to Prevent Another Crisis, the Powers-That-Be Double Down On the Strategies that Caused the Financ…
(MoneyWatch) There’s an adage among investment professionals that you don’t want to be a member of a crowd. It means that it’s time to exit when an investment strategy gets “crowded” due to …
$30 billion of alpha spread over $1 trillion of assets is 3 percent alpha for the industry.
"Saving" ≠ "Saving Resources"* | Angry Bear - Financial and Economic Commentary -
Many economists — mostly the freshwater/neoclassical/supply-side/conservative types, but also many on the left — hold in their heads a very peculiar model of how economies work. It’s a model of a …