Sunday, July 24, 2016

COBOL and Legacy Code as a Systemic Risk

More on why legacy code at major banks is a ticking time bomb.

Is Brexit Moment a Lehman Moment? Fear Factor in Financial Crises

Comparing the market reaction to Brexit with key events during the crisis.

CalPERS Announces Preliminary Returns of 0.6% When Target is 7.5% (Updated)

CalPERS posts crappy results and its disclosure isn’t too hot either.

2:00PM Water Cooler 7/18/2016

Today’s Water Cooler: TPP and jobs, Sanders plans, Republican National Convention, housing, the bezzle, new normal, mollusks, cosmopolitanism, PE and MMA

Et Ego in Arcadia (and Gardens as Complex Systems)

Morals to draw from my garden as a complex system, and other systems.

Links 7/18/16

monkey forest kitten links

How Finance Costs Too Much and Fails to Deliver

The costs of looting by the financial services industry are even more staggering than you probably imagined.

Michael Hudson: US-NATO Border Confrontation with Russia Risks Nuclear War and Loss of European Partners

On the rising nuclear war risk due to NATO-Russia confrontation.

Will Italian Banks Tear Down Europe?

Will Italian banks be the detonator of a political and economic crisis?

Links 7/17/16

whale_shark_300

Rajiv Sethi: On Arrest Filters and Empirical Inferences

Wait ’til you get to “evidence” in quotes…

Beyond Credit Rating to Stabilizing an Unstable Economy

The third part in a three-part series on how to fix what is wrong with credit rating agencies.

Links 7/16/16

penguin huddle links

Louis Proyect: Misusing German History to Scare Up Votes for Hillary Clinton

Distorting German history so as not just to equate Trump to Hitler but also to equate the left with Weimar socialists.

8 Countries Where Rampant Inequality Has Led to Violence

Yes, Virginia, inequality is dangerous but that does not stop many of the really rich from wanting more. us.