Monthly Archives: April 2010

Links 4/30/10

NASA mulls 28 potential ‘search for life’ missions Raw Story The Ultimate Connection Machine h+ (hat tip reader Sugar Hush) FDA wants your advice on food labeling MarketWatch The Feds vs. Goldman Matt Taibbi, Rolling Stone Legislating a Conscience on Wall Street Michael Hirsh, Newsweek When You Lie Down With Them Dept: Morgan Stanley Has […]

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Goldman (and DeutscheBank) as Predator

One of the things that has been striking as revelation of bad behavior in the collateralized debt market has gotten more press is that a number of commentators who had taken the “nothing to see here, move on” stance have gotten religion. Even more dramatic has been the change in perception of Goldman. The firm […]

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Goldman’s public purpose and problems with the Abacus deal

This is a post I wrote earlier today at Credit Writedowns. As I said yesterday,  investment banks are institutions which do fulfil a useful role in society. I would define their role as companies where large institutions and governments receive financial advice and raise capital. Goldman Sachs is an investment bank. As such, Goldman must […]

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Links 4/29/10

Have Goldman Sachs charges opened floodgates? BBC Obama the Centrist Brad DeLong, Project Syndicate. Mirabile dictu, DeLong says bad things about Obama! Election 2010: Can Gordon Brown survive this hurricane? Jonathan Freedland. A rather amazing turn of events…. Random Thoughts on the irony of Minarchism One Salient Oversight Roubini Says Rising Sovereign Debt Leads to […]

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Is Geithner in SIGTARP’s Crosshairs?

A Bloomberg story today on Neil Barofsky, the head of the Office of the Special Inspector General for the Troubled Asset Relief Program, or SIGTARP, contained this explosive little item (hat tip Tom F): The TARP watchdog has also criticized Treasury Secretary Timothy F. Geithner in reports and in congressional testimony for his handling of […]

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Bank Runs in Greece – Harbinger of Another Axis of Euromarket Risk?

Sometimes I can miss the blindingly obvious. Like other observers of the widening sovereign debt crisis in Europe, we’ve commented on the fact that the big reason for Germany to work towards a rescue (more likely, the end game is a restructuring) of Greece and other Club Med members at risk is that its own […]

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Guest Post: Greek 2 Year Yields 20 Percent, Italy Up 6 Basis Points, Portugal Up 7 Basis Points, Spain Up 27 Basis Points

→ Washington’s Blog It’s not just Greece and Portugal. As Simon Johnson reports: This is not now about Greece (with 2 year yields reported around 20 percent today) or Portugal (up 7 basis points) or even Spain (2 year yields up 27 basis points; wake up please) or even Italy (up 6 basis points). This […]

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The inevitability of Greek default

A version of this post appeared yesterday at Credit Writedowns. I am running a poll on whether Greece will default. Please click here to vote. And feel free to comment on why you voted as you did. German Chancellor Angela Merkel is feeling pressure to force German banks to take a haircut on Greek debt […]

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Links 4/28/10

Man rescued off Isle of Sheppey after sailing blunder BBC. Reader John M deems this to be a Darwin award honorable mention. India to stop tiger tourism in attempt to prevent species extinction Times Online Gamble Sours for Many Kentucky Horse Breeders New York Times. Another “this is a recovery?” datapoint. Cornell Study: Juries Convict […]

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Alford: Why Dismantling Too Big To Fail Firms Makes Economic Sense

By Richard Alford, a former economist at the New York Fed. Since then, he has worked in the financial industry as a trading floor economist and strategist on both the sell side and the buy side. Economists have joined the debate about the merits of requiring the downsizing of too big to fail (“TBTF”) financial […]

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