BNN Appearance
By Barry Ritholtz - July 15th, 2009, 5:20PM
SqueezePlay : July 14, 2009 : We Live in Toxic (Asset) Times [07-14-09 5:10PM]
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July 14, 2009, SqueezePlay
In any great organization it is far, far safer to be wrong with the majority than to be right alone. —John Kenneth Galbraith
Macro Notes
US$ rally continuesPeter Boockvar
Asian currencies continue to sell off vs the $ on the heels of the news yesterday that South Korea said they will look into hot money inflows stemming from the $ carry trade and the Bank of Indonesia said they are looking into the foreign buying of bills. This follows the news a few weeks ago that Taiwan was limiting foreign deposit holdings and Brazil was taxing foreign inflow transactions. As I mentioned yesterday, we may have reached a short term pain threshold in terms of $ weakness and foreign countries are fighting back as they certainly won't wait for...
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July 16th, 2009 at 2:09 am
Excellent!
Barry this is a must watch video with Janet Tavakoli.
SqueezePlay : July 15, 2009 : What Wall Street Owes You [07-15-09 5:10PM]
July 15, 2009
July 2009
SqueezePlay
BNN speaks with Janet Tavakoli, president, Tavakoli Structured Finance.
http://watch.bnn.ca/#clip193973
Clawback people may be clawing out goldmans eyes soon!
If A Revolution Comes, They’re Going After Goldman First
Earlier this evening as I headed back to my hotel, I passed through the mall area of the Prudential Center in Boston.
At one point, there was a kiosk in front of me that contained Russian Matryoshka dolls.
I noticed a guy hitting on the sales clerk at the doll kiosk. As I passed by, in total amazement, I heard the guy say to the girl, “Even the central banker of Italy used to work for Goldman Sachs.”
Whether they know it or not, Goldman has a PR problem. When you have a guy hitting on a girl by displaying his sophistication about the world, and that sophisticated knowledge is that Goldman Sachs has penetrated every nook and cranny of government financial agencies around the world, Goldman is in trouble.
Not without justification, the masses now know that there is a revolving door between governments and Goldman Sachs. Not without justification, the masses are highly suspicious of the billions in “trading” profits Goldman has been making when most other financial firms are barely surviving on life support. They know that former Goldman CEO, Hank Paulson, as Treasury Secretary, snowed everyone who came within 30 feet of his breath.
I feel we are all in the early stages of a multi-act play. It’s hard to tell how it will end, but it is clear this is a tragedy, not a comedy, that we are watching–and there will eventually be audience participation.
http://www.economicpolicyjournal.com/
July 16th, 2009 at 2:03 pm
Barry,
this was a really good interview. I thought you gave a very good, and more importantly realistic outlook on the economy but then did a good job explaining why you are long right now. You da man!