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Author Archives: Felix
Lawyers of the World Unite! You Have Nothing to Save but Your Jobs!
Yves Smith of Naked Capitalism submits: A Bloomberg story reports that large corporate law firms such as Kirkland & Ellis and Jones Day are facing not merely pressure, but explicit client demands, to send junior level work overseas. This is … Continue reading
Dubious Factoid of the Day, Japan Edition
In the era of the hyperlink, I’m increasingly mistrustful of bandied-around statistics which don’t have an easily-accessible paper backing them up.
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Posted in statistics
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The Attraction of 15 Central Park West
It’s the most successful residential development in New York history. So just
what is it that makes 15 CPW so different, so appealing?
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Posted in architecture
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The Four Views of What the Fed Should Do
Yves Smith of Naked Capitalism submits: A gut-wrenching two weeks in the credit markets have been capped by unprecedented moves by central bankers. The ECB’s offer of an unlimited infusion to member banks the week before last was followed last … Continue reading
Posted in bonds and loans, economics, regulation
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Stretching Credulity on Identity Theft Costs
Yves Smith of Naked Capitalism submits: A solid article in ComputerWorld tells us that data theft is getting worse. In the ongoing struggle between the security mavens and the data thieves, the bad guys are gaining ground. They are getting … Continue reading
Posted in banking, fraud, statistics, technology
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William Lauder Needs a Lesson on What It Means to Be Public
Yves Smith of Naked Capitalism submits: I’m a bit late to this item from today’s Wall Street Journal because I generally skip its softball CEO interviews. However, they do give corporate leaders the opportunity to make unwitting self revelations. Here, … Continue reading
Posted in governance
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Changing Motivations for Home Ownership
Yves Smith at Naked Capitalism submits: Courtesy Paul Kedrosky at Infectious Greed comes this chart that shows over time how renters’ reasons for taking the plunge into home ownership have changed. While this is a UK rather than US sample, … Continue reading
Posted in housing
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Quel Surprise! Most Traders Would Cheat if They Could Get Away With It
Wall Street appears to come upon its dubious reputation for ethics honestly.
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Posted in fraud
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Municipalities May Suffer Subprime Fallout
Yves Smith of Naked Capitalism submits: Gillian Tett, in “Credit compass fails to work,” in the Financial Times (subscription required), uses the woes suffered by monoline insurers such as MBIA and Ambac to illustrate that in our current credit crunch, … Continue reading
Posted in bonds and loans, cities, housing
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Did Bernanke Make a “Rookie Mistake?”
Yves Smith of Naked Capitalism submits: A Bloomberg story, in what may be becoming conventional wisdom, charges Federal Reserve Chairman Ben Bernanke with making a novice’s error: By lowering the discount rate and issuing a statement conceding threats to the … Continue reading
Posted in fiscal and monetary policy, regulation
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Beware of Consultants Bearing Data
Has a BCG study just outdone the Street in the data massaging game?
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Posted in M&A
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More on AT&T/iPhone (and Now BlackBerry) Woes
Can someone, anyone, save AT&T from themselves?
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Posted in technology
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Rate Cut Linkfest
Some links to good posts on the Fed’s latest move.
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Posted in fiscal and monetary policy
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The Fed Kills the Shorts?
Traders were supposedly heavily on the put side today, an options expiration day, so the stock market response to the Fed’s discount rate cut seems surprisingly subdued.
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Posted in banking, fiscal and monetary policy, regulation, stocks
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Paul Krugman Does a Hail Mary Pass
Krugman recommends that the Federal government buy mortgages to rescue stressed borrowers. Does he realize that the only realistic way to make this happen in our Brave New World of voodoo credit is to expropriate assets?
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Posted in banking, housing, regulation
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The MySpace-WSJ Barbell
WSJ.com had 4.5 million unique visitors in
July. That’s less than the LA Times, and less than a third of what nytimes.com
gets. Even a second-tier blog like consumerist.com can boast
over 2 million uniques.
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Posted in Media, publishing
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Pearlstein Looks for a Fed Bailout
If financial markets are frothy for a while and then revert to sensible levels
– but don’t overshoot – then does that constitute a fully-blown
financial crisis?
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Posted in economics, fiscal and monetary policy
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Bear Got a Sugar Daddy?
Yves Smith of Naked Capitalism submits: Bloomberg tells us that Bear Stearns’ shares rose 13% on an analyst’s comments that the firm “may” have secured an equity investment. Now events may prove me wrong, but Bear has been out looking … Continue reading
Posted in investing
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Carry Trade Unwinding? It Looks Real This Time
Is the long-dreaded unwinding of the carry trade finally happening?
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Posted in foreign exchange
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Our Fragile Financial System
Funny how quickly our financial system went from “robust” and “well-diversified” to “fragile.”
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Posted in banking, derivatives, regulation
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How Hedge Fund Managers Apologize
Paul Kedrosky has shoved 3,085 words of hedge fund manager
non-apology apologies into Microsoft Word’s Auto-Summarize feature and boiled
them down to two sentences.
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Posted in hedge funds
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Moody’s: An LTCM Type Failure Possible
Moody’s warns of a possible rerun of the LTCM crisis. We should be so lucky.
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Posted in Portfolio
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A Wee Introduction
Yves Smith of Naked Capitalism submits: As you may know, Felix Salmon has been so kind as to give me the keys to the castle while he is away on holiday for the next few weeks. It’s particularly sporting of … Continue reading
Posted in Announcements
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Yves Smith, Market Mover
Introducing a guest blogger.
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When Dynastic Control Fails
Equity Private says that dual-class share structures don’t
do what they’re designed to do:
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Posted in Media, publishing, stocks
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