My morning reads:

CFTC Study: High-Speed Trades Hurt Investors (NYT)
• With Higher Taxes Ahead, Stocks Are the Stuffing for Many Givers (WSJ)
Study: At most a third of us show a consistent approach to financial risk (MIT News)
• U.S. Sues Chinese Arms of Big Auditors over “accounting debacles” (WSJ)
• Bloomberg Sequestration twofer:
…..-Obama Bets Re-Election Gave Him Power to Win Fiscal Cliff (Bloomberg)
…..-Republicans Reprise 2011 Debt-Limit Threat in Cliff Talks (Bloomberg)
• Southeast Asia’s Growing Appeal (WSJ)
• Microsoft-Intel Push to Combat Apple in Tablets Sputtering (Bloomberg)
• Fox News chief’s failed attempt to enlist Petraeus as presidential candidate (Washington Post)
• The Story Behind The Newly Remastered Version Of ‘The Grey Album’ (Forbes)
• Mapping America’s Most Embarrassing Addresses (Curbed)

What are you reading?

OMG! Texting turns twenty

Source: The Economist

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.

12 Responses to “10 Tuesday AM Reads”

  1. 4whatitsworth says:

    Union Clerks with a total compensation of 160K (Only 80K year if you don’t count vacation and benefits) are not going to take it anymore. They are striking against Los Angeles/Long Beach Harbor Employers at a key holiday time. This could cost billions.

    Salary data,0,5086668.story

    Yes we can..

  2. RW says:

    Economics Lesson for Charles Lane
    Lane is upset that the markets don’t seem to accept his view that budget deficits are unsustainable. Of course the only reason that budget deficits are large today is because the economy collapsed. …Actually the market is doing exactly what it is supposed to be doing. Interest rates are extraordinarily low now because of the massive amount of excess resources in the economy.

  3. gman says:

    • CFTC Study: High-Speed Trades Hurt Investors (NYT)

    Analysts calls hurt investors, CNBC hurts investors, Big Accounting firms hurt investors, Investors own stupidity hurts investors, Most non fiduciary advisers hurt investors, Most mutual funds fees hurt investors. Excessive executive compensation and agency problems hurts investors!

    Get the picture?

  4. KeithOK says:


    So clerks making 80K a year should be prohibited from striking for job security reasons?

    I’m not sure why. Is it because they’re employer makes the unsubstantiated claim that their compensation is really worth twice as much?

    Is it because they haven’t seen their wages drop as much as most other workers in the country, so they should just be happy with whatever they get.

    Why is there so much envy and anger when workers get a decent wage?

  5. KeithOK says:

    Sorry, that should be “their”, not “they’re.”

  6. 4whatitsworth says:

    @KeithOk, I am simply pointing out that a small group of people are holding an entire port hostage for higher wages and yes another one of their contentions is that they want a guarantee that they will not be outsourced (this will remove an employer’s right to choose). This is very relevant to an investment site because If this strike continues it will hurt just in time retailers.

    You can decide if 80K or 160K in total compensation warrants this action.

  7. Anonymous Jones says:

    I love the idea that “union clerks” should not be able to use their leverage on high value transactions, but lawyers, bankers, and CEOs are able to use whatever leverage they have to increase their fees and salaries even though those fees and salaries dwarf the compensation of “union clerks.” You really think those kind souls making eight figures a year don’t hold up major deals in order to goose their compensation? Where’s the outrage against them?

  8. 4whatitsworth says:

    There is plenty of outrage at the CEO’s here is a fun one.

    My view is that most CEO’s are grossly over compensated. If you really want to talk outrages executives also have different benefit packages than their employees. This produces out of touch leaders that would not know the right thing if they tripped on it.

    Unfortunately Public workers and public unions are not much better many are able to opt out of programs like social security in favor of their own pensions.

    My $.02 is that rotating abuse is not going to fix the mess we are in.

  9. huxrules says:

    It is amazing how bad windows 8 is turning out to be. The implementation for those without touchscreens (the vast majority of computer owners) is horrible. The implementation for those with touchscreens is almost as bad. Microsoft could fix this whole thing with a simple update – make the booting into metro an option (and not the default) and bring back the start menu. The fix could probably take less than 24 hours. The fact that they are not doing this is a major signal on what must be going on over there. It must be mayhem. Hopefully microsoft will have a “New Coke” moment and get their stuff together.

  10. gkm says:

    I agree with gman.

    This is all hokum meant to obfuscate the real issues many of which gman identified. I’ll bet there was more lost on the fraudulent Bear Stearns insider traded $2 to $10 take-under than there ever has been for HFT. Why doesn’t the CFTC waste their time on something useful? Could it be don’t bite the hand that really feeds you, but nip on the one that isn’t feeding you enough? Regulatory capture at its finest.