Thursday, December 4, 2008
Passing the open source FIX baton … ~~~~ ” Smart Trade Technologies, the leader in liquidity management systems (LMS) for the financial markets, in association with the QuickFIX/J Team, developers of the 100% open source Java FIX engine, announced today that Steve Bate, an industry open-source software expert who helped develop, maintain, actively support and [...]
Thursday, December 4, 2008
Just some background for those not familiar with the process for rulemaking at SEC… it goes like this…
~~~~ ” Concept Release:The rulemaking process usually begins with a rule proposal, but sometimes an issue is so unique and/or complicated that the Commission seeks out public input on which, if any, regulatory approach is appropriate. A concept releaseis issued [...]
Thursday, November 27, 2008
~~~~ “I feel that this award was not made to me as a man, but to my work - a life’s work in the agony and sweat of the human spirit, not for glory and least of all for profit, but to create out of the materials of the human spirit something which did not [...]
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Wednesday, November 26, 2008
An academic (past trader) suggests how markets got high from elevated levels of testerone generated from succesful trading … as an asset class moves up the traders would collectively feel the rush of risk and return and want more… mania forming… markets full of mania … fueled by monetary excesses…
From the naked scientists …. John Coates, [...]
Wednesday, November 26, 2008
The forces of fear have struck in Mumbai, India… coverage in the New York Times…
Update | 8:46 p.m. Wired blogger Noah Shachtman points out that “First-hand accounts of the deadly Mumbai attacks are pouring in on Twitter, Flickr, and other social media.”
Shachtman rounds up links to Twitter accounts which are being updated minute by minute, including [...]
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Tuesday, November 25, 2008
The Federal Deposit Insurance Corporation is guaranteeing the debt of Goldman Sachs and other banks whose customers are the wealthiest people in the world…
I’m a little slow so I don’t understand why hard working Americans of middle and low income are subsidizing the richest people?
Isn’t this honestly just a giveaway to Goldman Sachs so that they can [...]
Monday, November 24, 2008
Michael Spence writing in the Financial Times does a good job sketching the interrelatedness and leverage of the global financial system and the reverb between balance sheets and income statements … he forgets to mention the shadow banking system, lack of transparency and dreaded derivative canker….
Balance sheets and income statements: breaking the downward spiral
November 24, 2008
By [...]
Monday, November 24, 2008
Excellent video on PBS discussing the role of the credit rating agencies in the crisis… video link here… (running time ~ 26 minutes)
~~~~ “What role did the credit rating agencies play in the current economic crisis? This week, a former managing director at Standard & Poor’s speaks out on U.S. television for the first time about [...]
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Saturday, November 22, 2008
The fixed income underwriting league tables… through Q3 - 08 as compiled by Bloomberg… see especially pages 7 and 8 for US bonds and US agency underwriting…
Thursday, November 20, 2008
Bloomberg News has requested details of the Fed lending under the U.S. Freedom of Information Act and filed a federal lawsuit Nov. 7 seeking to force disclosure.
The Fed made the loans under terms of 11 programs, eight of them created in the past 15 months, in the midst of the biggest financial crisis since the [...]