My early morning reading material:
• Understanding the Link Between Volatility and Compound Returns (CSS Analytics) see also How Alchemists Invented Modern Finance (Bloomberg Echos)
• OCC Probing JPMorgan Chase Credit Card Collections (American Banker)
• What Europe Could Have Learned From the U.S. Bank Bailout (DealBook) see also Greek Swap Seen Provoking Aftershocks on Borrowing (Bloomberg)
• Well, not exactly: Meredith Whitney was right (Fortune)
• On the Market: Sotheby’s (n+1)
• Easiest Credit Worldwide Shows No Signs of Abating as Fear Index Plummets (Bloomberg)
• Would a Higher Top Tax Rate Raise Revenues? (Economix)
• The Pentagon is a gas guzzler (CS Monitor)
• Slower Growth in Medicare Spending — Is This the New Normal? (New England Journal of Medecine)
• OMG: The Incident Report. Or, The Time I Broke It (The Awl)
What are you reading?
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Falling Off the Commodity Supercycle
Source: WSJ
Category: Financial Press
Please use the comments to demonstrate your own ignorance, unfamiliarity with empirical data and lack of respect for scientific knowledge. Be sure to create straw men and argue against things I have neither said nor implied. If you could repeat previously discredited memes or steer the conversation into irrelevant, off topic discussions, it would be appreciated. Lastly, kindly forgo all civility in your discourse . . . you are, after all, anonymous.
“Let’s turn this to and open thread: Where does Timmy end up and why?”
I wish him burned in Hell, with Bush, Greenspan, Bernanke, and Dick Cheney. And hopefully, each get like 5 types of cancer and slowly dying over time.
Crime?
1) Raping the Taxpayers in the name of saving them and gave out billions in profits to bankers and politicians.
2) Fake intelligence to mass murder 1 MILLION Innocent Iraqis.
~~~
BR: Timmy had nothing to do with Iraq . . .
“Managers at major banks ignored widespread errors in the foreclosure process, in some cases instructing employees to adopt make-believe titles and speed documents through the system despite internal objections, according to a wide-ranging review by federal investigators. ”
http://www.nytimes.com/2012/03/13/business/tough-reviews-ahead-for-banks-in-26-billion-mortgage-deal.html?_r=1
And how many of those “managers” will be prosecuted for fraud? Zero.
The Problem With Polls About Whether Obama Is a Muslim
http://m.theatlantic.com/politics/archive/2012/03/the-problem-with-polls-about-whether-obama-is-a-muslim/254380/
The problem with people who don’t believe this stuff is actually happening is that they may convince Democrats to think Obama shouldn’t be out there fighting these GOP Media Machine memes.
Democrats, hear me. Fight this stuff, hard.
Pass the Books. Hold the Oil. (NY Times)
Credit-Default Swap Time Bomb Failed to Go Off Over Greece: View
http://www.bloomberg.com/news/2012-03-12/credit-default-swap-time-bomb-failed-to-go-off-over-greece-view.html
“One reason for the markets’ insouciance is that the amount of money expected to change hands is, in the context of derivatives, minimal. The gross amount of outstanding swaps on Greek debt is about $70 billion, of which only about $3.2 billion remains after buyers and sellers net out their positions.”
Not to worry, with IMF, ECB and the FED backing and hundreds of billions in tax payer money derivatives weren’t a problem. Love the logic here.
“I think just being the president of the United States of America, you would have some type of control over gas pricing,” said Jamie Haber, 39, an independent voter of Orlando
http://www.nytimes.com/2012/03/13/us/politics/obama-approval-rating-down-in-new-york-times-cbs-poll.html
I DEMAND OBAMA DO SOMETHING ABOUT THE PRICE OF GAS AND HOUSING AND MEDICAL INSURANCE… uh… wait… no, not housing and medicare insurance, strike those. JUST GAS!
the Brooks’ arrests in the murdoch hacking probe
http://www.ft.com/intl/cms/s/0/dcf05218-6cf0-11e1-a7c7-00144feab49a.html
got to love the so English charge
“conspiracy to pervert the course of justice”
also your first article excellent
reminds me why i lost money 2H 2011
but im still looking at 14.7 VIX vol and goin shopping?
for Brooks above the pix alone are priceless
being arrested with her boytoy “horsetrainer” hubby
and a murderous look in her eye
Uh oh… ;)
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Third female lawmaker introduces bill to limit men’s Viagra access
March 12, 2012
Ohio state Rep. Nina Turner (OhioSenate.gov)Democratic Ohio state Sen. Nina Turner is the third female lawmaker to introduce a bill that would limit men’s access to Viagra and other erectile dysfunction drugs to make a statement about the dozens of anti-abortion bills that have passed statehouses around the country over the last year.
Turner is opposed to a proposed bill that would prohibit abortion after a fetal heartbeat is detected, which can happen as early as six weeks into a pregnancy. The Dayton Daily News reports that Turner’s bill would mandate that men seeking Viagra be “tested for heart problems, receive counseling about possible side effects and receive information about ‘pursuing celibacy as a viable lifestyle choice.’”
Turner said on MSNBC Monday that the bill is about showing “men as much love in the reproductive health arena as they have shown us over the years. My Senate Bill 307 is all about the love and making sure we look out for men’s sexual health.”
…..
http://news.yahoo.com/blogs/lookout/third-female-lawmaker-introduces-bill-limit-men-viagra-204340160.html
i guess the OCC finally remembered they were suppose to regulate
Bank Officials Cited in Churn of Foreclosures
“Managers at major banks ignored widespread errors in the foreclosure process, in some cases instructing employees to adopt make-believe titles and speed documents through the system despite internal objections, according to a wide-ranging review by federal investigators.”
http://www.nytimes.com/2012/03/13/business/federal-report-cites-bank-officials-in-foreclosure-surge.html?hp
we don’t like government spending and we don’t like regulation
we do like government spending and we do like regulation
problem is we do both at the same time
http://baselinescenario.com/2012/03/13/americans-like-regulation/
the chase credit card mess is the same as the foreclosure one
http://www.nakedcapitalism.com/2012/03/jp-morgan-under-occ-investigation-for-serious-debt-collection-abuses-warnings-ignored-for-over-two-years.html
maybe if could cut the DOD’s gas bill, we wouldn’t have to cut any other parts of the DOD budget? $17 billion a year is a bit much. never mind the known tactical problems introduced by using oil as a fuel
[...] McDonald, Fortune (via Ritholtz): To readers of the business press, the story is a familiar one: fifteen months ago, superstar [...]
I too had to have surgery due to a Meckel’s diverticulum as well, but I’m glad it wasn’t that particular surgery!
To get gas down to $2 a gallon, you’d have to NATIONALIZE Exxon.
Is Newt calling for Nationalization of the US Oil Industry?
Wouldn’t that be “Socialist”.