Wall Street Breakfast: Must-Know News [View article]
An AIG comeback "if" financial markets stabilize is a pretty big "if," so the taxpayer had best hope the Fed keeps ZIRP in place to support the phony recovery.
Barclays' theft of $5B from Lehman's creditors shows us the agency problem again. Lehman's managers put their own personal interests ahead of fiduciaries. What else is new on Wall Street? Maybe we need to scatter the Street's traders around the country and build brand new firms based on partnerships. That way execs risk their own capital on every decision.
Wall Street Breakfast: Must-Know News [View article]
It may be illegal for Treasury to sequester money used in a program whose authorization has expired and has no continuing appropriation. That's the kind of "neat idea" you can expect when you outsource your entire government to Goldman Sachs.
Syndicated loan losses tripling? No, say it ain't so! (sarcasm filter off) Regular CNBC watchers should be surprised; not me.
Eurozone private lending is being crowded out by sovereign stimulus borrowing. We'll soon see the same here.
Revisionism on Lehman will last as long as this Depression. One developing strain of thought is that its failure was necessary to shock other bank execs into fixing their firms.
Wall Street Breakfast: Must-Know News [View article]
Barclays' theft of $5B from Lehman's creditors shows us the agency problem again. Lehman's managers put their own personal interests ahead of fiduciaries. What else is new on Wall Street? Maybe we need to scatter the Street's traders around the country and build brand new firms based on partnerships. That way execs risk their own capital on every decision.
Wall Street Breakfast: Must-Know News [View article]
Syndicated loan losses tripling? No, say it ain't so! (sarcasm filter off) Regular CNBC watchers should be surprised; not me.
Eurozone private lending is being crowded out by sovereign stimulus borrowing. We'll soon see the same here.
The Lehman Debacle [View article]