Monthly Archives: September 2010

Das on Eurozone Outlook

I’m running this clip of Satyajit Das for several reasons. First, it gives a very good big picture view of the problems with the Eurozone rescue fund, and is germane given that those concerns are coming to the fore (witness our post earlier today). Second, more generally, it gives readers a chance to see him […]

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Wallace Turbeville: Report from the Frontlines – Mission Not Accomplished on Derivatives Reform

By Wallace Turbeville, the former CEO of VMAC LLC and a former Vice President of Goldman Sachs who writes for New Deal 2.0 It is now obvious that when President Bush made his victory speech on the aircraft carrier in front of the now-famous “Mission Accomplished” banner, he was a bit premature in his assessments. […]

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Doubts About Eurobailouts Come to the Fore

A brief recap of a couple of useful sighting on the “rising anxieties in Europe” front. Edward Hugh has a very thorough update (bond spread trends, underlying drivers, an astute discussion of politics) leavened by a great deal of wry humor (“So, like former US Treasury Secretary Hank Paulson before them, Europe’s leaders, having armed […]

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Links 9/27/10

Neanderthals were ‘keen on tech’ BBC Kiwi scientists make atomic ‘breakthrough’ Stuff Former Air Force Officers: UFOs Tampered With Nuclear Missiles AOL News (hat tip reader Marshall) UN to appoint Earth contact for aliens News.com.au (hat tip reader John D) Comic company launching ‘Silver Scorpion’, a disabled, Muslim superhero Raw Story. A tad quixotic. U.S. […]

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Auerback: Where is Huey Long When You Need Him?

By Marshall Auerback, a portfolio strategist .hedge fund manager, and Roosevelt Institute Senior Fellow My friend, Yves Smith, has posed the question as to why there is no political outlet for the anger on the left. In other words, where are today’s Huey Longs when you need them? It’s become patently obvious to anybody with […]

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Florida’s Kangaroo Foreclosure Courts: Judges Denying Due Process on Behalf of Banks

Florida is ground zero of the foreclosure crisis. In addition to being one of the epicenters of the housing meltdown, it has also become the jurisdiction where local lawyers have been the most effective overall in unearthing how servicers and foreclosure mills have engaged in widespread document fabrications and use of improper affidavits to foreclose. […]

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FUBAR Mortgage Behavior: Florida Banks Destroyed Notes; Others Never Transferred Them

Before we get to the meat of the post, I have a fun project for readers. Just as “whocoulddanode” has become inextricably linked to the excuses for the failure to see the housing crisis coming, we need a new tag phase for the hopeless tangled mess that the folks who screwed up mortgage securitizations have […]

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Satyajit Das: Chinese Contradictions

By Satyajit Das, a risk consultant and author of Traders, Guns & Money: Knowns and Unknowns in the Dazzling World of Derivatives – Revised Edition (2010, FT-Prentice Hall). Peter Hessler (2010) “Country Driving: Three Journeys Across A Changing China”; Text Publishing Richard McGregor (2010) “The Party: The Secret World of China’s Communist Rulers”; Allen Lane […]

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Links 9/26/10

Lehman Bros art makes $12m in US BBC Can We Build in a Brighter Shade of Green? New York Times. This is actually pretty cool technology. But there is another technology popular in the colder parts of Europe, using geothermal wells, which from what I can tell, is also unused here. Study: Most Americans want […]

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Why is There No Political Outlet for Anger on the Left These Days?

Poll ratings show approval levels for the major political perps, meaning the President, Congress, each of the two major parties, at levels so low as to be tantamount to loathing. But while the Tea Party has become a force to be reckoned with by tapping into this wellspring of discontent, those on the left who […]

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Tom Friedman Embraces the Electric Car 15 Years Late

When you start advocating Federally backed “moon shots” as a way to compensate for the shortcomings of American management, you know you are in deep doo doo. Tom Friedman has a characteristically breathless article at at the New York Times arguing America better get off its duff because China is very serious about electric cars: […]

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Orwell Watch: “Structural Unemployment” As Excuse to Do Nothing

The spin-meisters continue to package things that ought to incite outrage in anodyne wrappers in the hope no one will look inside. “The new normal” and “structural unemployment” join the universe inhabited by such gems as “extraordinary rendition” and “pre-emptive strike”. “New normal” is particularly insidious, since it implies that we must accept current conditions, […]

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Links 9/25/10

Why lions roar and wildcats miaow BBC (hat tip reader John M) CIA used ‘illegal, inaccurate code to target kill drones‘ The Register (hat tip reader John M) Liberal blogger directly confronts David Axelrod, accuses White House of “hippie punching” Washington Post (hat tip reader John D) Credit Union Fix May Be $9.2 Billion, Regulator […]

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