Greedy Guts Itself has had widespread consequences – collateral damage that was either not anticipated or, more likely, simply ignored by the round-up of Usual Suspects like an Anthony Mozilo, the Quants and every Big US Bank and its CEO that has foreign Sovereign Funds as new large shareholders. This section will track the spread […]
Greedy Guts Itself: The Fallout Update Read More »
In my Greedy Guts Itself series of articles here I have been arguing that today’s quant driven derivative instruments (poorly understood and very hard to measure) plus the automatic computer-driven trading systems are one of the major factors (but not the only ones) driving the current sub-prime fiasco and the general malaise in the financial
Derivative Caution: Greedy Guts Not Alone Read More »
Well Greed Guts are now into round 4 of the debacle – the Tag Team Match known as the Blame Game: See You in Court. It will not be pretty if the New York Times and/or The Economist are right on Denmark . Take a 5th of your favorite hooch if you are a spectator
Greedy Guts Itself: The Tag Team Match Read More »
In Sweeny Todd fashion the Financial industry has chosen, on first blush, a rather unexpected target for its financial rapacity – itself. And recent articles in the prestigious MIT Technology Review- The Blow Up and The Economist-the Darkside of Debt detail how the jugular cuts, more appropriate to a cheap Hollywood Slasher flick, were done
Wall Street Presents Sweeny Todd – Greedy Guts Itself Again Read More »
The depth of Greedy Gutting Itself is beginning to emerge. Paul Krugman at the NYTIMES has this estimate of the depth and breadth of the problem . If you do the math on homes averaging $250,000 in value one has between$3-5 trillion on the line. And Allan Greenspan is calling it Turbulent Times – its
Greedy Guts Itself: III, Casualties(Updated again) Read More »
In our initial Greedy article, I have argued that Financial Institutions have largely put aside Fiduciary Trust – and now have a new primary goal – their own wealth with perhaps some coincident client gains but only for a carefully selected class. In this article by Steven Pearlstein at the Washington Post – you see
Greedy Guts Itself:2 Read More »
In modern life we pay a lot of premiums almost automatically for the convenience of faster commerce, more security, trust and peace of mind in our social and economic lives. Brand names like Microsoft software, Maytag appliances, or State Farm home insurance imply top of the line products or services with implicit warranties of good
Greedy Guts Itself Read More »
Three new reports on MF Global’s Bankruptcy and its Impact on Financial Policy are worth noting: NYTimes – Gretchen Morgenstern, who has been instrumental in exposed recent Financial Follies, describes the damage to the credibility of current financial regulatory reforms and how the current European financial crisis impacts American banks and financial institutions as a consequence. Marketwatch
MF Global:Wall Street Reforms Fail: Update Read More »
I think Dow Jones MarketWatch indulges columnist Paul Farrell as the titular Cassandra – proof that Dow Jones takes in all perspectives just in case if markets and the world’s economies go terribly wrong, Dow Jones can point to their Cassandra and say “we told you so”. Here is a Whitman Sampler of Farrell’s forebodings
Paul Farrell: Crash Cassandra Read More »
There is strong evidence that what has been suspected is true – the Big Banking Game is Fixed. And you thought the top US Banks had to fight to survive in one of the toughest and most coldly efficient banking markets. But diverse financial media players like China Post, Bloomberg, Iranian Financial Times, NYTimes, and
Is the Wall Street Banking Game Fixed ? Read More »
