Felix Salmon

GE Capital datapoint of the day

By Felix Salmon
June 30, 2009

From Jeff Gerth and Brady Dennis:

GE has joined major banks collectively saving billions of dollars by raising money for their operations at lower interest rates. Public records show that GE Capital, the company’s massive financing arm, has issued nearly a quarter of the $340 billion in debt backed by the program, which is known as the Temporary Liquidity Guarantee Program, or TLGP. The government’s actions have been “powerful and helpful” to the company, GE chief executive Jeffrey Immelt acknowledged in December…

Can the Fed raise rates earlier than expected?

By Felix Salmon
June 30, 2009

Krishna Guha reads the Fed tea-leaves:

The central bank has made it clear it does not expect to raise rates any time soon – saying in its last statement that it sees rates remaining near zero for an “extended period”.

MBA, RIP

By Felix Salmon
June 30, 2009

Philip Delves Broughton on what you really learn at Harvard Business School:

Everyone knows what they’re best at, but often they think it’s of no value. I felt like that when I graduated from HBS, and I was wrong.

Why CRA loans weren’t toxic subprime loans

By Felix Salmon
June 30, 2009

Mike at Rortybomb wades into the CRA debate with a very good point: toxic subprime loans bear almost no relation to CRA loans.

Video of the day, Swap spreads edition

By Felix Salmon
June 30, 2009

Nick Gogerty deserves a medal for this:

It almost makes you want to find out what a swap spread is.

(Via Kedrosky)

Endowment datapoint of the day

By Felix Salmon
June 30, 2009

Big university endowments like to think that their returns constitute alpha — a simple outperformance of the market. But it looks increasingly as though in fact there’s a large component of beta — outperforming when the market goes up and underperforming when it goes down.

The Taleb-GQ emails

By Felix Salmon
June 30, 2009

The Nassim Taleb exaggeration story simply refuses to die: after first flaring up a few weeks ago, Eddy Elfenbein and Joe Weisenthal now pick up on a little yellow note that Taleb has put on the notorious GQ story about him by Will Self. Taleb is accusing Janet Tavakoli of conducting a “(failed) smear campaign” against him — see here and here for instances. But that accusation has just brought attention back onto the numbers in the GQ article — numbers which everybody agrees are false.

The upside of being flamed

By Felix Salmon
June 30, 2009

The Cajun Boy hits the nail on the head when he describes one of the biggest upsides to opening oneself up to the crazies of the internet by blogging:

Monday links sound a bit funny

By Felix Salmon
June 29, 2009

Rachman: McCain’s tweets “make him sound like a peasant

The House Financial Services Committee is going to have a busy July

RT @IDDMagazine Cantor Fitzgerald grows its London leveraged finance team

Judis makes the distinction between the unemployment rate (less important) and total unemployment (very important)