Posts filed under “Regulation”
The news leaked over the weekend: Hedge-fund baron Steve Cohen and SAC Capital Advisors were about to pay a monster fine for a decades worth of insider trading and failed supervision of traders. Some prefer the term “expert networks,” but – po-TAY-to, po-TAH-to. The rules have changed, and so have the penalties. The lessons of…Read More
Every now and then, I read an article that is factually accurate, technically correct — and utterly misleading. Items like this are “accurate but false” as they leave the reader with an impression of something that is incorrect. Because the world is nuanced and not black and white, the sum of many facts, statistics and…Read More
Greenspan discusses many of the ideas he had reversed himself on regarding the financial requirement.
Note he has adopted my Partner’s Joint & Thesis Liability explanation (from BN) that states the move to Corporate structure from a Partnership radically reduced the focus on risk management.
Click to enlarge A previous discussion on the founding and dissolution of the First Bank of the United States (BUS) which existed from 1791 to 1811. After the First BUS recharter was defeated, the United States suffered defeat in the War of 1812, and suffered from a lack of fiscal order and an…Read More
click to embiggen Source: BCA I have been meaning to get to this since I was in Toronto last week, where I saw my friend (and fishing partner) Martin Barnes of BCA give an excellent presentation at the Toronto CFA Prediction Dinner. One of that charts that really stood out to me was…Read More
Fines here, fines there, fines everywhere! The Wall Street Journal discusses the proposed $11 billion dollar JPM fine, but buries the good stuff in this morning’s article on Jamie Dimon (This Generation’s Greatest Banker! ®) We have been tracking JPM’s fines, but if you want an industry overview, try this collection: Here is a quick…Read More
click for ginormous graphic Source: NYU VLAB I mentioned NYU’s VLAB earlier, but one more trick I wanted to share: You can drill down by region or even country to see how much risk is in the system. Note that this is a function of both size and riskiness, i.e., a very small reckless…Read More