My afternoon train reads:
• Fed Expands Asset Buying, Links Rates to Joblessness (Bloomberg) see also Bernanke Critics Can’t Fight Bonds Showing No Inflation (Businessweek)
• From Bernie Madoff to Steven Cohen, Enabling Suspiciously High Returns (ProPublica)
• Surprise—We Made $23 Billion Off AIG! (The Daily Beast)
• Japan should scare the eurozone (FT Alphaville)
• Buffett Joins Soros in Effort to Raise Taxes on Estates (Bloomberg) see also Unlikely Backers in a Battle Over Taxes (NYT)
• Rally in PC Stocks Is a Yawner. Google Fiber Is a “Disruptor” (Barron’s)
• Why you’re right to be obsessed with Apple stock (Fortune) see also The real threat that Samsung poses to Apple (ASYMCO)
• Discovered: The World’s (Probably) Earliest Dinosaur (The Atlantic)
• A question that Twitter needs to ask itself (Gigaom)
• Religious Monument Gets a Sidekick: Bill of Rights (NYT)
What are you reading?
Analysts Get Gloomy, Right on Schedule
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.
Finally somebody gets arrested: “Libor Dragnet Snares Three Men in U.K.” WSJ http://on.wsj.com/128OL9B
Maybe the ice is broken? Corzine next?
RE: profit off of AIG
My understanding of monetary policy would tell me that this is not necessarily a good thing. That $23Billion would have been better served by staying in the private sector during this balance sheet recession, instead of going into Government coffers. I’m sure someone will straighten me out on this?
A question that Twitter needs to ask itself?
Why does the company name start with the word . . . .
TWIT?
“Why you’re right to be obsessed with Apple stock ”
The problem w/ AAPL is their profit margins will start eroding soon enough- cheap tablet competition and Google now has a damn nice Android phone- Nexus 4- unlocked which works on all carriers for 300 bones (too bad its out of stock- lol)
https://play.google.com/store/devices/details?id=nexus_4_8gb
step up to the 16 gig- you’ll get one in 6-7 weeks
and don’t even try to buy from your carrier- they’ll hose you on the unlocked version
treasury doesn’t owe taxes on capital gains from AIG sales
http://www.cnbc.com/id/100302098
hm that pay gap looks to be pretty bad. the worker gets 8.25 an hour (over 40). and has to 2 jobs to pay his rent, and doesn’t even get full time at either. the CEO? he gets 8.75 million per year
http://www.bloomberg.com/news/2012-12-12/mcdonald-s-8-25-man-and-8-75-million-ceo-shows-pay-gap.html
you can’t sue your bank.
http://business.time.com/2012/12/12/why-you-probably-cant-sue-your-bank/?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed:+time/business+%28TIME:+Top+Business+Stories%29
and thats probably coming to any business you deal with.
and while the process maybe cheaper. it may not and probably isn’t fair at all as business have figured out how to pick the ‘judge’ and have them on long term contracts.
MidlifeNocrisis, suspect that if that 23 billion had stayed on the private sector it would have been lost, or swallowed up by some inane activity that likely would have been of no use to any one,
to big to fail, to big to jail?
http://www.nbcnews.com/business/too-big-fail-means-too-big-jail-1C7555748
explanation of monetary policy?
http://www.nakedcapitalism.com/2012/12/stephanie-kelton-explains-modern-monetary-theory-to-you.html
http://www.newyorker.com/online/blogs/borowitzreport
The Ghost of Christmas Future.
Re AIG and the Govt making $23 bio
i cant prove its wrong but highly suspicious
1 daniel gross is imo not competent to research this
2 it wont be the first time the govt is scammed or spins to look good
3 there is no mention of the reverse $20/1 AIG stock split
at old prices the share sold were worth $1.50.
this is why
QUOTE That (new public offering) sale dramatically reduced Treasury’s stake to the small rump that was sold this weekUNQUOTE
its probably true that their old straight insurance businesses were worth a lot
partly were run practically like an internet scam-
dont pay claims till somebody sues
\
glad the small govt equity sale rump brought all that remaining profit
what BS!!