Wednesday, March 28, 2012
The Financial Times ran a story Monday about Goldman Sachs becoming the first big dealer to orient its business around electronic fixed-income trading and away from “hands-on” order processing in light of new regulations coming from Dodd-Frank. The story claimed that Goldman was a pioneer in this approach: Now Goldman could be one of the first banks to [...]
Wednesday, April 21, 2010
Vermont Senator Bernie Sanders, says “the issue is not whether Congress regulates Wall Street, it’s the degree to which Wall Street regulates Congress.” Time to break up the banks…
Filed in Launching..., Open engines, Recession busters..., Regulatory, Restructuring
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Also tagged BofA, break up banks, break up the banks, Congress, JP Morgan, too big to fail, Wall Street
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Wednesday, March 31, 2010
William Cohan, author of “House of Cards” and a Bloomberg Television contributing editor, talks with Deirdre Bolton and Erik Schatzker about how collateralized debt obligations helped drive American International Group Inc. to the brink of disaster. Also today the Federal Reserve released the details of the Maiden Lane holdings… which includes the dreck described in [...]
Saturday, February 13, 2010
The bits and pieces are being assembled into a mosaic which is revealing the true enablers of the global credit crisis… And it’s the trading houses like Goldman Sachs who created financial products, sold them off and then bet against the products they originally created… and often these bits of wizardry were designed to live off [...]
Friday, February 12, 2010
From PBS’s Lehrer show… ” As part of his continuing series of reports making sense of business and the economy, Paul Solman examines the inner workings of investment powerhouse Goldman Sachs and how it makes money.”
Thursday, January 21, 2010
It’s “Volcker lite“… I’m very interested in any proposal that has the banks whinging like this Bloomberg video of Rob Nichols, the president of the Financial Services Forum… (an excellent rebuttal to Mr. Nichols arguments from the Epicurean Dealmaker) Here is the German CEO of Deutsche Bank commenting on regulations proposed for US financial markets. He doesn’t like them [...]
“Moral hazard doesn’t exist anymore…”… so sayeth the Euro crowd… President Obama… you’re smart enough to understand “banker code”… call up Adair Turner if you need a decoding kit… This video from Bloomberg shows Karsten Schroeder, chief executive officer of Amplitude Capital LLP, talking about risk-taking by banks and the condition of credit markets.¶ ¶ Central bankers will [...]
Filed in Liquidity, Open engines, Regulatory, Restructuring, Trading, Transparency
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Also tagged Bernanke, Bloomberg, Geithner, JP Morgan, Obama, Summers
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Thursday, January 7, 2010
Tax the speculators and create a public bank from therealnews.com Several mintues into the interview Robert Pollin, Professor of Economics and founding Co-Director of the Political Economy Research Institute (PERI) at the University of Massachusetts, Amherst says the following … ~~~ “… POLLIN: Well, I think the simplest idea, the simplest principle, is the financial system [...]
Saturday, November 21, 2009
I first published this post on November 21, 2009… I believe it is even more the case now. Timothy Geithner serves Wall Street. Our economy and nation will not be repaired until the control of Wall Street over the government, the Federal Reserve and the nation is broken. US Treasury Secretary Geithner should resign from office. [...]
Sunday, November 15, 2009
From down under we have an incredible story of a US private equity firm dodging taxes made in profit on a recent Australian IPO…and hightailing that cash out of the country before the authorities could judicially claw it back… reporting from The Australian… ~~~”The ATO [Australian Tax Office] says the TPG [Texas Pacific Group] entities owe the commonwealth $452,236,874.70 [...]