Posts filed under “Really, really bad calls”

Ack! The Alan Greenspan Chair at NYU !

John Paulson’s $20MM gift to New York University is to endow a chair in Economics named after Alan Greenspan. This might have slipped by our notice over the holiday weekend, but for the intrepid eye of Dan B:

“The Stern School will apply $5 million of John Paulson’s gift to support two endowed faculty chairs.  The first chair is named for alumnus Alan Greenspan (BS ’48, MA ‘50, PhD ’77), leading economist and former Chairman of the Federal Reserve Board.  Dr. Greenspan was Chairman from 1987-2006, and was the first person to be appointed to five consecutive terms through a period covering four presidential administrations. He has also held a number of board positions.  Dr. Greenspan is the author of The New York Times best-selling book, “The Age of Turbulence: Adventures in a New World” (Penguin Group, 2007) and works as a private advisor providing consulting through his company, Greenspan Associates LLC. “

Dan notes:

“I was reading the latest edition of STERN business and found some humor in the fact that a portion of John Paulson’s $20MM gift to New York University is to endow a chair in Economics named after Alan Greenspan. Seems fitting that one of the individuals most responsible for creating the conditions by which John Paulson could achieve vast wealth for himself (and clients) is so honored”

No doubt about that!



Hedge Fund Founder John A. Paulson Gives $20 Million to NYU Stern

Category: Federal Reserve, Really, really bad calls

The Men Who Would Be Roubini . . .

Rich Karlgaard gets all up in the grills of the “über bears” in this post. This alone would not be particularly noteworthy, except Karlgaard is quite charming and somewhat reserved in person. He calls Robert Prechter “howling insanity,” noted that Paul Farrell is the new “apocalypse beat writer,” and saves particular vitriol for “the oddest…Read More

Category: Financial Press, Really, really bad calls

Contrarian Investing

Fantastic investor letter from the Lex team at the FT on contrarian investing against the expert consensus: “Dear Investor, It has been a profitable first half for Contrarian Partners. Our core investment strategy remains unchanged: to mine the research produced by investment banks every six months to establish consensus trading strategies. Then trade against them…Read More

Category: Contrary Indicators, Psychology, Really, really bad calls

Greenspan on Squawk Box

The Greenspan reputation legacy destruction tour continues apace. This morning, Easy Al is on Squawk Box, making another attempt at salvaging his rep. There goes my morning . . . I am going to have to spend the next few hours fisking his unique brand of wrong. He still slings the fertilizer as well as…Read More

Category: Really, really bad calls, Television

Wall Street/Las Vegas Casino Banks

StereoHell/Imp Kerr, who did the fantastic illustrations for the Bailout Nation chapter titled Casino Capitalism, is showing the very same work at the Tribeca Grand. (full size versions can be seen here) The show has a website where you can purchase the artwork, including all of the bailed banks as Las Vegas Casino drawings:  …Read More

Category: Bailout Nation, Bailouts, Really, really bad calls

Austerians vs Keynesians: NYT Edition

The New York Time’s David Leonhardt has the perfect article for the layperson who wants to understand the current debate between the deficit hawks and the stimulus advocates: “The policy mistakes of the 1930s stemmed mostly from ignorance. John Maynard Keynes was still a practicing economist in those days, and his central insight about depressions…Read More

Category: Economy, Really, really bad calls, Taxes and Policy

Economics is Easy; Comedy is Hard

About two weeks ago, Kartik Athreya, a researcher for the Federal Reserve Bank of Richmond, posted a diatribe about the difficulties in performing macroeconomic research and policy. Titled “Economics is Hard. Don’t Let Bloggers Tell You Otherwise,” it was an odd sort of academic rant. Stung by myriad criticisms of the Fed, Athreya attempted to…Read More

Category: Federal Reserve, Really, really bad calls

Word Origins: “Austerians”

Sometime over the past two weeks, the word “Austerians” burst onto the blogosphere. A play on the fiscal reserve of the “Austrian” school of economic thought (Friedrich Hayek or Ludwig von Mises) the phrase Austerians referred to the desire to slash government spending and cut deficits during a time of economic weakness or recession. Economix…Read More

Category: Economy, Really, really bad calls, Taxes and Policy

US Ranks Last in Health Care vs AUS, CAN, GER, NETH, NZ, UK

This continues to be fascinating: “The U.S. health system is the most expensive in the world, but comparative analyses consistently show the United States underperforms relative to other countries on most dimensions of performance. Among the seven nations studied—Australia, Canada, Germany, the Netherlands, New Zealand, the United Kingdom, and the United States—the U.S. ranks last…Read More

Category: Economy, Markets, Really, really bad calls

Missed Opportunity: BP Gulf of Mexico Disaster

One of my regular criticisms of George W. Bush as President was, when presented with an opportunity to achieve greatness, he repeatedly failed to rise to the occasion. Indeed, his presidency can be viewed as a long series of missed opportunities: “Once in a generation, the stars align for a political leader. There is this…Read More

Category: Bailouts, Energy, Politics, Really, really bad calls, Regulation, War/Defense