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Mish's Global Economic Trend Analys (Free subscription) | yesterday
Inquiring minds are listening to Senator Jim Bunning grill Ben Bernanke over the Fed's miserable performance under Bernanke. Here is a partial transcript but I recommend playing the 13 minute video in entirety. Alan Greenspan refused to look for bubbles or to do anything other than create them. Likewise it is clear from your statements over the last four years that you failed to spot the housing bubble...
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People Daily (Free subscription) | 12/03/2009
Federal Reserve Chairman Ben Bernanke vowed before taking office to follow in the footsteps of his storied predecessor, Alan Greenspan, but he will likely distance himself from the past as he seeks a second term. After a devastating financial crisis and deep recession that eliminated 7.3 million US jobs and cost taxpayers hundreds of billions of dollars to bail out banks and financial firms, political...
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A Tiny Revolution (Free subscription) | 11/20/2009
Elizabeth Warren seems pretty great, doesn't she? Given the financial industry came very close to creating another Great Depression, we could really use someone in a position of power whose main concern is the well-being of the middle class. OR COULD WE?!? Here's some guy named Thomas Cooley to explain why we're so wrong : She suggested a Financial Product Safety Commission in a 2007 article in the...
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EconoSpeak (Free subscription) | 11/15/2009
This is rich. John Paulson who made billions betting against the subprime mortgages is now rewarding Alan Greenspan, who did so much to make it happen. Anon. 2009. "Overheard." Wall Street Journal (13 November): p. C 14. http://online.wsj.com/article/SB10001424052748703811604574532093404390218.html "John Paulson already has hired Alan Greenspan as an adviser. Now the hedge-fund honcho...
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DealBreaker (Free subscription) | 11/12/2009
Earlier this morning, a report came out that Goldman Sachs, after promising to pay the vet bills and find homes for five kittens discovered on the site of their new headquarters this past August, had neither paid the bills nor found houses for those cats. Now, like magic, Goldman has put out a statement * that the vet has been paid off, and the cats adopted. And that got us thinking-- for a while...
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Business Wire (Free subscription) | 11/12/2009
NEW YORK--(BUSINESS WIRE)--NYU Stern announced today that alumnus John Paulson (BS ’78), founder and chairman of hedge fund Paulson & Co., Inc., has given a gift of $20 million to NYU Stern. John Paulson’s gift will endow two faculty chairs – the Alan Greenspan Chair in Economics and the John A. Paulson Professor of Finance and Alternative Investments – as well as provide...
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Londonist (Free subscription) | 11/12/2009
An illustration of a wide-smiling Barry Sternlicht greeted us as we entered the Riflemaker Dairy for José-María Cano's "The Wall Street 100" collection. Mimicking newspaper cuttings from the Wall Street Journal, the exhibit's 100 large wax portraits depict people the artist deems socio-politically powerful. After Sternlicht, we caught the more stern glare of Paul Wolfowitz,...
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The Big Picture (Free subscription) | 11/10/2009
Frederick Sheehan is the co-author of Greenspan’s Bubbles: The Age of Ignorance at the Federal Reserve. His next book, Panderer for Power: The True Story of How Alan Greenspan Enriched Wall Street and Left a Legacy of Recession, will be published by McGraw-Hill in November 2009. He was Director of Asset Allocation Services at John [...]
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The Reasoned Sceptic (Free subscription) | 11/10/2009
Yesterday I wrote this politically-oriented post on my companion blog, musing whether or not the Federal Reserve System violates the Constitution. The post was sparked by reading a Wall Street Journal editorial this past weekend by Mark Spitznagel . Spitznagel runs Universa , a California-based hedge fund group which now counts Nassim Taleb as one of its close advisers/employees. Sometimes it takes...
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Breakout Performance (Free subscription) | 11/04/2009
By Eric Jackson 11/04/09 - 06:00 AM EST Stock quotes in this article: AMD , INTC , IBM The government's case against Raj Rajaratnam, founder of hedge fund Galleon Group , on the charge of insider trading details alleges that the hedge fund manager's primary competitive advantage for investors was a web of connections close to or inside technology companies feeding him illegal tips on future directions...
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Times of India (Free subscription) | 10/31/2009
Bill Gates, the co-founder of Microsoft, visited the Oval Office on March 25. Alan Greenspan, the former Federal Reserve chairman, dined in the White House Mess Hall on February 19.
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People Daily (Free subscription) | 10/30/2009
Bloomberg announced a quarterly survey on October 29, 2009, that shows Warren Buffett is regarded as the best assessor of financial markets by a plurality of almost one-fourth of respondents to the quarterly poll of investors, traders and analysts who subscribe to the Bloomberg terminal. Former Federal Reserve Chairman Alan Greenspan got the worst ranking. The report came out after Bloomberg surveyed...
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DealBreaker (Free subscription) | 10/29/2009
Pay Czar Wants No Wider Authority (WSJ) Great news! Kenneth Feinberg does not want to oversea the pay of any firms beyond the 7 special ones he's already policing, despite some Congressmen urging the Compensation Cop to go crazy one everyone's asses. (Vikula et al still loose.) Buffett Beats Gross in Global Poll as Investor With Most Wisdom (Bloomberg) When your need advice on insurance companies...
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Dr. Housing Bubble Blog (Free subscription) | 10/28/2009
Only looking at economics for an answer to the housing bubble mania will leave you with many questions unanswered. As in most manias, there is a large element of speculation and irrational exuberance as the godfather of bubbles Alan Greenspan once said. Yet what most on Wall Street and the government lack is some basic [...]
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naked capitalism (Free subscription) | 10/27/2009
By Richard Alford, a former economist at the New York Fed. Since them, he has worked in the financial industry as a trading floor economist and strategist on both the sell side and the buy side. It has been frequently charged that the Fed, under Alan Greenspan and Ben Bernanke, kept interest rates too low for [...]
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