Submitted by Leo Kolivakis, publisher of Pension Pulse. The new Caisse boss, Michael Sabia, got grilled on Monday at Quebec public finance committee: The new boss of the Caisse de dépôt et placement du Québec says his goal is to learn from the mistakes made at Canada’s biggest pension fund manager and do better. Michael […]
Read more...New study finds the flu virus ‘paralyzes’ immune system Science News Examiner Google book settlement has librarians worried Ars Technica (hat tip reader John O) Chrysler won’t repay bailout money CNN (hat tip reader Matthew) Let’s Get Some Bad News Dean Baker Stress test haiku Corrente SC court halts thousands of home foreclosure sales Associated […]
Read more...During the oil price runup of 2008, economists liked to harangue market participants and observes who thought a move that rapid could not be solely the product of fundamentals. Where were the inventories, they demanded. If the price was “too high” as in excess of supply and demand, surely there would be excessive inventories. There […]
Read more...So much for the cheery assumption that Citigroup and Bank of America each needed only $10 billion, based on leaks of Citi’s likely $10 billion need. This amount of funding is not available from private sources, absent massive dilution of existing shareholders. And assuming, as we and some others, such as Nouriel Roubini, do, that […]
Read more...I really should be past being surprised at misconduct in the securities industry, but when it extends to supposed regulators, it is a clear sign that the entire system is hopelessly beyond redemption. The case example is FINRA. Some excerpts from its website: The Financial Industry Regulatory Authority (FINRA), is the largest non-governmental regulator for […]
Read more...Some comic relief. Enjoy! Hat tip reader John C:
Read more...Submitted by Leo Kolivakis, publisher of Pension Pulse. All around the world, pension tension is growing. You’re only beginning to see what I’ve been predicting for a long time. It’s one huge mess. Here is a small sampling of global pension tension: Garth Whyte, the executive vice-president of the Canadian Federation of Independent Business, which […]
Read more...Nation Ready To Be Lied To About Economy Again The Onion (hat tip reader Olaf) Bill Gates funds British scientists in unorthodox health research Times Online Van Gogh’s ear was cut off by friend Gauguin with a sword Telegraph The Hot Spots for Organic Food New York Times, An interesting graphic. Wages Contract in US, […]
Read more...History repeats itself, the first time as tragedy, the second time as farce. But when it’s your farce, sometimes it’s hard to appreciate the humor. We’ve railed about the stress tests since they were announced, but the chicanery, starting with the March 10 Citi and Bank of America pronouncements that they had had a decent […]
Read more...It’s easy for Americans to pooh-pooh bearish talk about the dollar. Yet the sterling was once the reserve currency, and has fallen, what, by 80% since it lost its standing. With increasingly dubious accounting and lax enforcement, the US capital markets no longer stand out by virtue of being better regulated. Yes, they still may […]
Read more...Ancient tsunami ‘hit New York’ BBC. An updated version coming to a movie theater near you. I have separately read that a hurricane that hit at just the right angle would send a storm surge that would flood Manhattan to 14th Street. Internet ‘draining world power’ Guardian Berkshire Investment Officer Candidates Didn’t Beat S&P 500, […]
Read more...I am coming to realize there might be method in the seeming madness of changing dates and shifting sneak previews via favored members of the press as to what the stress tests might entail. Tire out the critics, numb the casual followers, and leave the boosters in firm control of share of mind. Let’s face […]
Read more...The “all animals are created equal, but some are more equal than others” logic appears to operate in full force as far as Goldman is concerned. Violations of normal rules of conduct are not merely tolerated, but are asserted to be acceptable. Now admittedly, the latest news tidbit, of former Goldman co-chairman Steven Friedman staying […]
Read more...Submitted by Leo Kolivakis, publisher of Pension Pulse. Following up to my last post on systemic fraud at public pension funds, Sydney Freedberg sent me her latest article, Florida investment agency uses smoke, mirrors (added emphasis and notes are mine): Front and center on its Web site, the agency that invests $118 billion for Floridians […]
Read more...Fertilisers ‘reducing diversity’ BBC Merck Makes Phony Peer-Review Journal Bioethics No Signs of Sustained Global Spread of Swine Flu New York Times. and First genetic analysis of swine flu reveals potency New Scientist. Good news for now, but epidemiologists warn that next fall/winter, influenza season in the Northern Hemisphere, is the time to watch. The […]
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