In mathematics QED Quod Est Demonstrandum is used at the end of a proof. It means that which was required to be proved has now been provided for all to see. I have been arguing for the past two years that the US Financial System has gone off the rails because unmitigated greed (I have […]
In mathematics QED Quod Est Demonstrandum is used at the end of a proof. It means that which was required to be proved has now been provided for all to see. I have been arguing for the last two years that the US Financial System has gone off the rails because of unmitigated greed (I
The question that gets asked everyday and of every Tom, Dick, and Henry Blodget Financial commentator is “when will the bottom be reached “in the current rollercoastering yet consistently swooning stock markets. And without fail, the Financial commentators fill the airwaves with incredible financial mumbo jumbo that even a voodo witch doctor would not lay
Hedge Fund Redemptions Read More »
The reason that stock prices continue to gyrate so much as they head down and the credit markets still are frozen – even after unprecedented action by the Fed and worldwide central banks – all is captured in a single phrase – the derivative mess. The Size of the Problem That is why I am
The Derivative Mess Read More »
There is a news item at the NYTimes that confirms in no uncertain terms what has become abundantly obvious – Wall Street will not regulate itself. Not only that but Wall Street cannot rescue itself when it gets into trouble. The whole reason the banking system is failing now is that a)no financial institution trusts
Wall Street’s Incompetencies Read More »
After the VP debate, it is becoming obvious that Barack Obama and Joe Biden are shaping up to win a landslide victory in the Presidential election. Despite doing much better than in the Katie Couric interviews, Governor Palin simply could not deflect (and almost every time switched the subject) on Joe Biden’s telling criticisms of
After the VP Debate Read More »
The day after assesments of the Wall Street Fix are not sanguine. The essence of the argument is that the government has still not done the right thing because all the derivative based bad debt has: 1)Not been identified and reported completely to the SEC+Fed by the investment banks and other bad funds holders; 2)the
Two days ago I raised the question of whether US Secretary Paulson and the Treasury would be able to stop Wall Streets run on the Moral Hazard Insurance Company – that is as Paul Krugman of the New York Time’s calls it: “[Federal] officials are worried that their rescue efforts will encourage even more risky
The Moral Hazard Denoument Read More »
The Economist has in its July 26th issue, the first of two articles on Discontent in America. The polls are in alignment. Gallup shows a strong rise in discontent in America. When asked “How do you feel about the way things are going in America ? “, close to 85% of American register Dissatisfied versus
Discontent in America Read More »
This is the Cover story at Business Week this July end – one year after Bear Sterns shot itself and the US Economy in the foot, being the first of many Hedge Funds and Investment banks, to gag on its own Derivative Mortgage Greed. Now I don’t want to say that I told you so
How Wall Street Ate the Economy Read More »
