Commentaries
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Counterparties
Why it pays to apologize. – BusinessWeek
Give Goldman Sachs credit for its adherence to rigorous, market-value accounting. — David Reilly.
Crush the U.S. Chamber of Commerce? — Economic Populist.
Don’t cut the payroll tax rate. — Bruce Bartlett
Happy now, all you whining small banks? — Noam Scheiber.
Deal makers pay tribute to Bruce Wasserstein. — Julia Werdigier.
Counterparties
Bruce Wasserstein, 1947-2009. — DealBook.
Wall Street firms are surprisingly tone deaf when it comes to bonuses. — Economist.com
“Finding a job right now is extremely difficult.” (with scary chart) — the Federal Reserve Bank of Atlanta’s macroblog.
Counterparties
A mighty fortress: JPMorgan Chase wows. — Reuters.
“Unfortunately, it’s screw the shareholders!” a Bank of America director says in a January email. Investigators begin to leak as they shine a light into the murk of the Merrill deal. — Louise Story and Eric Dash.
Stop whining about Goldman Sachs’ bonuses. Here are nine things you should be upset about. — Barry Ritholtz.
Counterparties
Regulators are looking at “naked” access to high-frequency trading. — Wall Street Journal (And see Matthew Goldstein’s take on the retail victims of HF trading.)
If the White House “has hard numbers we can put on the benefits of big banks, please make these public. We can then weigh these against the obvious costs of running our financial system in this fashion – on this round alone: fast approaching 40 percent of GDP, i.e., the increase in government debt as a direct result of our financial fiasco; plus persistently high unemployment; millions of homes lost; likely permanent loss of output, etc.” — Simon Johnson.
Counterparties
Why we are still delusional about house prices. — Henry Blodget.
The Nobel winners in economics. Was Christopher Swann right? – Nobel Foundation, Justin Fox.
A back-of-the-envelope calculation of when the Federal Reserve should raise rates. — Paul Krugman.
Counterparties
Changes in hedge fund land: James Simons is retiring from Renaissance Technologies. — Reuters while Zoe Cruz is looking to start a hedge fund. — Wall Street Journal.
“If we don’t know which institutions are doing what–if we don’t actually monitor what we’ve regulated–then that regulation won’t work.” — Daniel Altman
Counterparties
Any new legislation on derivatives needs to treat them like any other financial instrument. — Barry Ritholtz.
If Warren Buffett is selling, should you be buying? Probably not. The story of the Symetra Financial IPO — Jonathan Weil
Counterparties
Well, it turns out there is a secret plot against the dollar — except that it is being hatched in Washington, not in the Persian Gulf or elsewhere. And it could be a very good thing for the U.S. economy and Obama. — Simon Johnson.
The idea of tax credits for companies that create jobs is gaining traction in Washington. — Catherine Rampell.
Counterparties
Australia is the first G20 nation to raise interest rates. — Reuters
And you shall know us by our velocity:The Nasdaq stock market is the world leader in share turnover. — Alea.
Is Reagan to blame for our debt crisis? — Megan McArdle
The puzzle of Argentina’s post-war economic fall. — Edward Glaeser.
The recession is forcing hundreds of thousands into early retirement. — Zubin Jelveh.
Counterparties
Bank of America to pick an “emergency” CEO this week. — Wall Street Journal.
“If you assume, as we do, that the equity of BAC is a zero, where should bond holders be haircut in order to recapitalize the bank without further financial support from the US taxpayer?” — Christopher Whalen
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