Counterparties

By Nick Rizzo
December 15, 2011

Nouriel Roubini is (surprise!) not optimistic about the economy next year — Project Syndicate

The obscure program by which Germany lent the ECB half a trillion euro — BusinessWeek

MF Global reportedly stripped “critical powers” from its chief risk officer — Dealbook

The accounting clue that revealed just how bad things were at MF Global — Bloomberg

Morgan Stanley to cut 1600 jobs — Reuters

We’ve heard this before, but Congress might be close to a spending deal — Politico

6 comments

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It continually amazes me how CEOs are so essential to the corporation’s success that they must be paid exorbitant compensation. Yet, when a company collapses it turns out that the highly compensated CEO is an ignoramous who had absolutely no idea what was going on in his company, nor did he ever direct anybody to do anything with large sums of money in the corproation’s operations. If he did actually tell somebody to do something, it was purely accidental and not noteworthy, sonce he can’t recall the incident. Presumably, those pesky details like the actual strategy and cash flow of the company were delegated to the poorly compensated floor workers while the CEO went golfing.

Posted by ErnieD | Report as abusive

ErnieD, CEOs do matter. Apotheker cost HP $10B-$20B by his poor decisions. Corzine managed to kill *his* ward.

I’m not buying his protestations of innocence. Execute him and sell the viewing on PPV cable. Would be the best chance to recoup the $1.2B he stole from his customers.

Even for a bank, that is a LOT of money. You don’t simply misplace it!!!

Posted by TFF | Report as abusive

Who Really Caused the Housing Bubble?
http://www.fool.com/investing/general/20 11/12/14/who-really-caused-the-housing-b ubble-.aspx

The new datum:
“The Federal Reserve Bank of New York recently asked a simple question: What percentage of mortgages lent during the bubble went to people who owned more than one home?

Its answer: nationwide, over a third. In Arizona, California, Florida, and Nevada, it was nearly half.”

You could (literally) see 25% of these homes foreclosed without throwing anybody out of their (primary) house!

Posted by TFF | Report as abusive

At this time of Chris Hitchens’ death, let us honor and remember the victims of Marxism which Hitchens championed as much as he could in the west without sounding totally insane.

Hitchens’ beloved Marxism is responsible for 100 million deaths so far, vastly more than any religious faith. And yes, he did pull for the other team during the Cold War, as his brother Peter has confirmed. Gee I wonder how that would have turned out.

And the killing continues.
http://www.cnn.com/2011/12/15/world/asia  /north-korean-labor-camps-in-siberia/in dex.html

The real answer is not a banishment of religion as Hitchens advocated, which involves widespread death everywhere it was tried, but religious freedom and tolerance of differing views. Ironically, the societies Hitchens spent most of his time criticizing were the world’s most free and tolerant societies.

Posted by DanHess | Report as abusive

@DanHess You don’t understand at all what Hitchens advocated obviously (which isn’t surprising since you think NKorea is a marxist state – you probably think Obama is a socialist too)… his point was that religion should be a personal and private matter, say like jerking off. Everyone does it, and in the privacy of one’s home that’s all well and good but keep it out of the public square and out of the workplace! But his reaction to people who couldn’t control their religious jerking off was to humiliate and eviscerate them into compliance, and Judeo-Christian theologies tend to prostylatize quite a bit now don’t they.

Also, I don’t understand at all what it means that Hitch was on the ‘other side’ during the cold war… he advocated for every uprising against mother Russia he could (most famously in Czechoslovakia). The only ‘questionable’ alliance he upheld (questionable in America alone I suppose) was that of Cuba in the early days – and by the early 70s he saw that the Castro regime had descended (thanks to Russian $$$) into pure Banana Republic-ism and abandoned support. I’d love to read the article in which Peter Hitchens denounces Christopher as some sort of Soviet-sympathizer for the sheer rubbish of it.

By the way, if some group threatens your country from beyond your borders for publishing a cartoon and your country doesn’t have the guts or mettle to stand up for the rights of your people – namely free speech!!! – then you deserve a Hitchslap!

In short, your little banter is so rife with misapprehensions it’s a wonder ANYTHING you write on this blog be taken seriously again. At best you’re a coward, at worst a man who would see religion take us right back to the Dark Ages.

Posted by CDN_Rebel | Report as abusive

CDN_Rebel, I rarely agree with Dan Hess, but you have overreacted. Please take a walk around the block and calm down.

Posted by SelenesMom | Report as abusive