My afternoon train reading:

• Unintentionally hilarious headline of the day: Wall Street Worries About the Common Man (MoneyBeat)
• Fear of Equities Drives More Investors to Cash (NY Times)
• SEC Caught Dark Pool and High Speed Traders Doing Bad Stuff (Bloomberg View)
• The consensus is that Tim Geithner’s blocking of mortgage foreclosure relief was his biggest unforced error (Washington Equitable Center for Growth)
• Financial Sector Default Risk Plummets (Bespoke)
• Manhattan Penthouse Co-op Sold For 2nd Highest PPSF in History (Miller Samuel) see also Silicon Valley adds fuel to San Francisco’s red-hot property market. (WSJ)
• 5 facts about today’s college graduates (Pew Research)
• Power Plants Should Look to the Auto Industry on How to Meet the New EPA Guidelines (Slate)
• Read This When You Actually Have Time: A Guide to Read-It-Later Apps (Re/Code)
• Paper planes transform into tiny drones. (WSJ)

What are you reading?


Refi Sadness

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.

7 Responses to “10 Monday PM Reads”

  1. Stock Soup says:

    adding apartments in SF does not add to gentrification

    it adds to the rental supply, which keeps rents lower then they would otherwise be

  2. chartist says:

    I was a borderline perma bear always waiting for that 15% drop in the S&P to get in…..But, the turning point was the breakout in the EEM. Here’s the thing I always believed: the 401K pushed the burden of saving onto employees who were doing a terrible job. Add the horrific volatility since October 87, and the boomers were in serious danger of eating cat food. I think the Fed as decided that volatility kills and it’s time to stomp its guts out.

  3. cbatchelor says:

    The Big 4 wires – AP, Bloomberg, DJ, Reuters – are giving up staffing the Treasury press room:

  4. Tom128 says:

    Fear of Equities Drives More Investors to Cash:

    Maybe something else is a factor such as “Wealth Inequality in America” and the perception of a very uneven playing field in the stock market.

  5. rd says:

    Wall Street has been pushing aggressive cost-cutting and off-shoring at the expense of R&D, labor compensation, and employment in order to meet the “quarterly numbers” for three decades now. It is a bit disingenuous to suddenly become worried about the “common man” not supporting the economy after intentionally and systematically destroying his livelihood. What works well on a micro-economic scale is not always best at the macro-economic level. Wall Street has practiced economics the way medieval doctors thought that “bleeding” would cure people. The doctors came out ok but the patients usually did not.

  6. rd says:

    It is very pleasing that bank risk is dropping dramatically. I believe these CDS numbers mean that the banks are now viewed as being as risk-free as in 2006-2007 which is very good news indeed.

  7. rd says:

    BTW – I was in NYC over the weekend. The NYC wireless phone service really does suck. In Upstate NY I can’t tell the difference in response time between Wi-Fi vs cellular network but in NYC the cellular network would just spin and grind. So the phone was almost useless for information searches unless I was on the hotel network.