As Greece’s cash crunch continues and its negotiations are moving slowing and tending towards an impasse, it becomes more and more likely that the beleaguered borrower will issue some sort of scrip in order to fund operations while remaining in the Eurozone. How and how well might that work?
Read more...We are not making it up. Private equity limited partners like CalPERS have no idea what they are paying in carry fees, one of the biggest costs they incur.
Read more...Is the august Wall Street Journal hinting that the “recovery” has no clothes?
Read more...We thank readers for their considerable, valuable input on a recent call to action and discuss how we plan to use their ideas.
Read more...Elizabeth Warren just put SEC Chairman Mary Jo White firmly in her crosshairs.
Read more...Predictably, it never occurred to Andrew Ross Sorkin that being put in impossible ethical positions could be a cause of some of of Wall Street’s recent suicides.
Read more...Yves here. Das published this post in February and I thought it would be useful to reprise it for three reasons. First, it has held up well to the passage of time. Second, for latecomers to the Greek saga, it summarizes the background, the stances of the parties, and key economic and financial considerations. Third, the section starting “Controlled Warfare” (about 2/3 of the way through the post) summarizes the consequences to the lenders of a Grexit. Those risks are why almost no one thought we’d wind up where we are now, with two sides issuing ultimatums a mere two days before a possible Greek default, and why most of the financial media still believes a deal will get done.
Read more...We are now 35 years into a finance-led counterrevolution. If you care about income inequality, student loan debt slavery, foreclosure abuses, and other products of the success of this effort, it behooves you, as Sun Tzu urged, to understand your enemy.
Read more...A 2004 book by Martin Wolf provided the intellectual foundation for the competitiveness fad. Ironically, Wolf debunked his own thesis in it.
Read more...Greece’s creditors met to agree on a last-ditch offer. But it turns out “last ditch” reaffirmed their current position and removed IMF’s debt relief proposal.
Read more...The opposition has done vastly better than expected on stymieing Obama’s toxic trade deals. Thinking ahead to how to block them in the House, and if it gets that far, when the Fast Track fix goes to the Senate.
Read more...Stock prices are driven ever more by M&A and buybacks….and it won’t be pretty when the fat lady finally sings.
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