Commentaries

Counterparties

October 16, 2009

Why it pays to apologize. – BusinessWeek

Give Goldman Sachs credit for its adherence to rigorous, market-value accounting. — David Reilly.

Counterparties

October 15, 2009

Bruce Wasserstein, 1947-2009. — DealBook.

Wall Street firms are surprisingly tone deaf when it comes to bonuses. — Economist.com

from Rolfe Winkler:

Lunchtime Links 10-14

October 14, 2009

JP Morgan blows out results (Bloomberg) It's good to be TBTF!

WSJ artist ripped off! (Hedcuts) You know those neat little illustrations that WSJ runs in the paper? Turns out an artist is ripping them off. "...MY DRAWING was given as a gift to Vaclav Havel who then re-gifted it for president Obama?! And it's now hanging in the White House?! You can bet your knickers I will do my damndest to let the President know he was scammed by the Spaniards and the Czechs! ;-)))"

Counterparties

October 14, 2009

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.

Counterparties

October 13, 2009

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.)

Counterparties

October 12, 2009

Why we are still delusional about house prices. — Henry Blodget.

The Nobel winners in economics. Was Christopher Swann right? – Nobel Foundation, Justin Fox.

Counterparties

October 9, 2009

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.

Counterparties

October 8, 2009

Any new legislation on derivatives needs to treat them like any other financial instrument. — Barry Ritholtz.

from Rolfe Winkler:

Lunchtime Links 10-7

October 7, 2009

Pelosi says VAT is "on the table" (Politico) A value-added tax makes good sense. But it should replace the income tax more than supplement it. Taxing consumption as opposed to saving would help re-balance the American economy. My personal preference would be to cut the size of government, primarily by raising the retirement age for Medicare and Social Security. That said, here we stand facing huge budget deficits that have to be closed. There's no painless way to do that and higher taxes are likely part of the solution. Much has been said on the topic here at Reuters: Chris Swann likes a VAT; James Pethokoukis says we need to cut spending first. They're both right.