Profiting from Goldman Woes
An article at the Independent, “Goldman packs a punch: Sherwood and Van Praag take their corners“: Wonder when we’ll see the first display ad along these lines….
Read more...Category Archives: Media watch
New Goldman PR Disaster: Execs Celebrated Subprime Implosion
It’s ironic how the “Goldman was so smart to have shorted subprime” meme is now being turned on its head in the MSM as Goldman’s conduct in the run-up to the crisis is begin re-examined in a new light. The underlying premise of the Goldman defenders is that it is fine for the firm to […]
Read more...Links 4/10/10
Yves Smith Watch: These two posts are MUST reads for anyone concerned about derivatives, systemic risk and regulation. And Yves is mentioned in both! Brooksley Born Raises an Important Question, But Answers are Weak FireDogLake (hat tip Beverly) The Magnetar Trade: How One Hedge Fund Helped Keep the Bubble Going ProPublica (hat tip John) Debt […]
Read more...Will the financial media adapt to the changing media landscape?
I originally wrote this post at Credit Writedowns under a different title yesterday. I have changed the title to more accurately reflect what I am driving at in the post. Otherwise the post is exactly the same. The question is: which media companies will find their revenue streams threatened by the shift in the financial […]
Read more...Have Bloggers “Won”? And Is That a Bad Thing?
The Roosevelt Institute sponsored a conference at the Columbia School of International and Public Affairs, “Facing the Fracture: Media & Economic Understanding,” which focused on the reporting challenge posed by the global financial crisis, particularly given the continuing economic pressures on news organizations. I’ve seen the difficulties faced by the MSM in conventional terms, and […]
Read more...Matt Taibbi Gives Catholic Church Vampire Squid Treatment Over Child Molestation Defense
This is a bit O/T for the blog, but Matt Taibbi is in full flamethrowing rant mode, always an impressive sight (will “you’ve been vampire squidded” eventually enter the lexicon?) And the target is plenty deserving. Timothy Dolan, the archbishop of New York, has attempted to defend the then Cardinal Joseph Ratzinger, now current Pope, […]
Read more...Lehman and the Primary Dealer Credit Facility: Audit the Fed Push Right, Arguments Wrong
The so-called Valukas report on the Lehman bankruptcy has put a harsh light on the final months of the floundering firm and the regulators who stepped up their oversight, in particular, the New York Fed. Some of the NY Fed’s moves have been so indefensible as to in and of themselves warrant full bore investigation. […]
Read more...The Empire Continues to Strike Back: Team Obama Propaganda Campaign Reaches Fever Pitch
I’ve seldom seen so much rubbish written by people who ought to know better in a single day. Many critical thinkers have heaped the scorn and incredulity on three articles, one a piece on Rahm Emanuel slotted to run in the Sunday New York Times Magazine, another an artfully packed laudatory piece on Timothy Geithner […]
Read more...Tom Adams: Department of “Huh?” – BlackRock’s Larry Fink as Hero?
By Tom Adams, an attorney and former monoline executive I’m usually cynical about these “genius of Wall Street” articles, but the Vanity Fair article “Larry Fink’s $12 Trillion Shadow” by Suzanna Andrews, about the head of the world’s largest money manager, BlackRock, raises the cliche to another level. My skepticism results both from the disconnect […]
Read more...Guest Post: TED gets furious, tells Yves to go away and, errm, not be so furious
By Richard Smith, a London-based capital markets IT specialist Hmm, I wonder if Yves’s resolution authority post will become the econoblogosphere’s equivalent to Clochemerle’s shattered urinal and its entourage of rioters. Surely not; yet it’s impressive how often such modest, utilitarian objects – a pissoir, a blog post about a financial reform proposal – can […]
Read more...Fed Regional Presidents Conduct Regulatory Land Grab Road Show
The Fed, having performed abysmally in recognizing the growth of a global debt bubble, and then having botched the early-stage reactions (after each of the first three acute phases, it went into Mission Accomplished mode), now is pushing not simply to hold its turf, but expand its sphere of influence. From the New York Times: […]
Read more...On the Escalating Rahm Drama
It’s hard for those of us who are not political junkies or DC residents to relate to most official power struggles, but the one involving Rahm Emanuel has been building over the last few weeks to the point that it is getting hard not to notice (aside: for unrelated reasons Rahm has become a Person […]
Read more...Can We Please Refrain From Consensus-Defending Narratives When the Consensus Was Wrong?
I’m having a Dean Baker moment. Baker’s blog Beat the Press engages in short-form shreddings of the economic reporting of the day, with the New York Times and the Washington Post his favorite targets (for instance, Baker at least once a week criticizes the MSM for relying on forecasts from economists who failed to see […]
Read more...Continued Harping on AIG Old News Shows Further Investigation Needed
Sorry for two AIG stories in succession; I just posted the other one when I saw the Bloomberg story just released, “Secret AIG Document Shows Goldman Sachs Minted Most Toxic CDOs.” I’m a bit puzzled as to what the fracas is about here. The formerly redacted Schedule A, the list of the CDOs that the […]
Read more...Quelle Surprise! AIG Hires Additional Lobbyists After It Goes on Taxpayer-Funded Life Support
A very good article in The Nation by Sebastian Jones, “The Media-Lobbying Complex,” (hat tip Tom F) has gone peculiarly unnoticed in the blogosphere, which is a real shame. It does some good, old-fashioned reporting to identify 75 individuals who were regularly presented on TV as experts, and by implication independent, when in fact they […]
Read more...