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Zero Hedge is rarely speechless, but after receiving this email from a correlation desk trader, we simply had to hold a moment of silence for the phenomenal scam that continues unabated in the financial markets, and now has the…Read
Dear God, let's just kiss the US economy goodbye. It may take a few years before the loyalists and permabulls throw in the towel, but the handwriting is on the wall.The Obama Administration, if the Washington Post's latest…Read
Submitted by Terence Doherty, guest author (via Phil's Stock World)Here’s some recent news about the real estate markets in China. I think it is fascinating watching how these things unfold. This proves once again that the…Read
The Wall Street Journal reports, as was rumored on Friday, that AIG appears on the verge of approving a considerably enlarged and sweetened rescue package from the government.We were less than happy with the idea when it first…Read
They arent the first subprime lawsuit settlements, but the two massive settlements Merrill Lynch announced this past Friday are unquestionably the largest subprime lawsuit so far, and they certainly suggest the enormous stakes…Read
I have been watching with a mixture of awe and dismay some of the really bad analysis, sloppy reporting, and just unsupported commentary about the GS case. I put together this list based on what I know as a lawyer, a market…Read
Financial commentators use metaphors* all the time. Derivatives are “financial weapons of mass destruction,” for example. Actually, people use metaphors all the time. But what is the substantive content of a…Read
Transactional and Revolving credit I highly recommend this post by interfluidity, where he slices a credit card into the transactional and revolving portions, and makes this finance blogging thing look easy. He write about how…Read
My first reaction, upon reading about the SEC’s complaint against Goldman Sachs was to shrug. Basically, the SEC claims that Goldman failed to disclose a conflict of interest in a deal the firm arranged, that perhaps…Read
By Frank Partnoy, Professor of Law and Finance University of San Diego School of Law and author of Fiasco, Infectious Greed, and The Match King The buzz on the Lehman bankruptcy examiner’s report has focused on Repo 105, for…Read
The big story on this slow news day is the NYT’s 3000-word story on Goldman and synthetic CDOs, which now has a formal response from Goldman itself. Here’s what I think is the most interesting new information in the…Read
Note: this post is primarily by Thomas Adams, at Paykin Krieg and Adams, LLP, and a former managing director at Ambac and FGIC, but this is a big piece of some puzzles he, some other experts who prefer to remain anonymous, and…Read
Yesterday myself and several other financial bloggers got the chance to meet with several senior Treasury officials, including the Secretary himself. It was a fascinating experience and I have to admit, it was just plain cool to…Read
Nouriel Roubini and His Acolytes Psychics and prophets have been in business since that other oldest profession. Like the more commonly referred to oldest profession, the secret to success for psychics and prophets is to turn…Read