Monthly Archives: May 2010

Gallows Humor from Michael Lewis

NYT: Shorting Reform To: Wall Street chief executives Editorial Series Financial Regulation Multimedia Op-Art From: Your man in Washington Re: Embracing the status quo Our earnings are robust, our compensation has returned to its naturally high levels and, as a result, we have … Continue reading

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Clients Worried About Goldman’s Many Hats – NYTimes.com

“Questions have been raised that go to the heart of this institution’s most fundamental value: how we treat our clients.” — Lloyd C. Blankfein, Goldman Sachs’s C.E.O., at the firm’s annual meeting in May via www.nytimes.com Good history of Goldman … Continue reading

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Toward Greater Complexity – the Govt/Business Partnership Gains Power

NYT: The Great Consolidation This trajectory should be familiar to Americans. The panic of 2008 happened, in part, because the public interest had become too intertwined with private interests for the latter to be allowed to fail. But everything we … Continue reading

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This Realistic, Unhappy View is from the Liberal Side

NYT: In Greek Debt Crisis, Some See Parallels to U.S. As a rough estimate, the government will need to find spending cuts and tax increases equal to 7 to 10 percent of G.D.P. The longer we wait, the bigger the … Continue reading

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Different Perspective on Wall Street Woes

John Mauldin: The Death of Capital The recent problems experienced by Goldman Sachs highlight just how far the financial system has lapsed from the days of gentlemanly capitalism. Change in itself is neither good nor bad – it is an … Continue reading

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Did “Black Swan” Guy Contribute to Black Swan Event?

Download 2010-5-10 Did a Big Bet Help Trigger 'Black Swan' Stock Swoon On any other day, this $7.5 million trade for 50,000 options contracts might have briefly hurt stock prices, though not caused much of a ripple. But coming on … Continue reading

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Exchanges Agree in Principle on New Trading Rules – NYTimes.com

In a statement, the head of the Securities and Exchange Commission, Mary L. Schapiro, said that the major exchanges, including the New York Stock Exchange and Nasdaq had “agreed on a structural framework, to be refined over the next day,” … Continue reading

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Calculated Risk: Report: 11.2 Million U.S. Properties with Negative Equity in Q1

First American CoreLogic released the Q1 2010 negative equity report today. CoreLogic reported today that more than 11.2 million, or 24 percent, of all residential properties with mortgages, were in negative equity at the end of the f irst quarter … Continue reading

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Origin of Wall Street’s Plunge Continues to Elude Officials – NYTimes.com

Through the day and into the evening, officials from the Securities and Exchange Commission and other federal agencies hunted for clues amid a tangle of electronic trading records from the nation’s increasingly high-tech exchanges. via www.nytimes.com

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The Day The Market Almost Died (Courtesy Of High Frequency Trading) | zero hedge

What happened today was no fat finger, it was no panic selling by one major account: it was simply the impact of everyone in the HFT community going from port to starboard on the boat, at precisely the same time. … Continue reading

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