Michael M. Thomas, R.I.P
I am very much saddened by the death of Michael M. Thomas, from old money and high finance, and vocally unimpressed by them.
Read more...Category Archives: Investment banks
Latest Filings in Devastating Lawsuit Against Bank of America, Credit Suisse, and Bayer Board Members and Executives Over Disastrous Monsanto Acquisition
More artful lawyering in the derivative case against Bayer management, its board and financial advisers over the disastrous Monsanto purchase
Read more...Wolf Richter: Historic Mania in SPACs, IPOs. Huge Fees for Wall Street Banks. Mega Paydays for Insiders. Disdain for Valuations. Blind Faith that “This Time It’s Different”
SPAC mania, with billions raised: this time it’s different, everyone is saying again – another sign that the zoo has gone nuts.
Read more...Goldman Gets Off Easy in 1MDB Scandal Despite Further $2.9 Billion in Payments, Criminal Charge Against Malaysian Sub
Despite the big numbers, Goldman gets the kid glove treatment relative to the severity of its 1MBD misconduct.
Read more...Apollo’s Leon Black, Found in Serial Child Rapist Jeffrey Epstein’s Black Book, Patronized Strip Club in Russia With Trump
Apollo’s Leon Black needs to develop better taste in friends.
Read more...‘Uninsurable and Unhedgeable’: Central Banks Warn of Financial Crisis from Climate Change
The world’s most powerful financial institutions are sounding the alarm that “a new global financial crisis triggered by climate change would render central banks and financial supervisors powerless.”
Read more...Felix Rohatyn, an Icon of an Older Wall Street, Is Dead
Why Felix Rohatyn was and wasn’t typical of his industry.
Read more...Book Review: Chris Arnade’s “Dignity”
Chris Arnade’s 150,000-mile, multi-year photograhic journey through unthriving America—urban and rural, black and white, from Lewiston, Maine, to Bakersfield, California, with many stops in between.
Read more...Double Whammy: Implicit Subsidies and the Great Financial Crisis
Follow the subsidies, and you will understand why we had the crisis and why not enough has been done to prevent a recurrence.
Read more...How Wall Street Enabled the Fracking ‘Revolution’ That’s Losing Shale Oil Companies Billions
Fracking harms the environment and shale oil companies fail to turn a profit but that doesn’t stop Wall Street from lending them huge sums of money, driven by lust for fees.
Read more...Buffett, Bezos, and Dimon Launch “An Undertaking of Great Advantage” to “Innovate” in Health Care
Decoding the press release on the new health care venture from Berkshire Hathway, Amazon, and JP Morgan.
Read more...Artificial Intelligence and the Stability of Markets
AI may revolutionise risk management and financial supervision, but also threatens to destabilise markets and increase systemic risk.
Read more...New Potential Credit Risk Bombs: Exotic, ‘Nonlinear’ and Private Transactions
Beware of old CDO risk re-imaged as “nonlinear finance”.
Read more...Gaius Publius: Obama Follows Clinton, Boards the Millionaire Speech Train to Wall Street
Like Bill Clinton before him, ex-President Barack Obama has boarded the Wall Street-financed train to millionaire riches.
Read more...Fiduciary Rule: Helps Not Hurts Wall Street, So Full Rescission Unlikely
WSJ says fiduciary rule helps Wall Street, so rescission unlikely. But still may be better for retail investors than previous status quo.
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