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  • Wall Street Breakfast: Must-Know News [View article]
    {"Banks pay for bailout favors. ... those who had executives serving on Fed boards were also more likely to receive TARP funds. 'Political connections play an important role in a firm's access to capital...' "}

    As Captain Renault ("Louis") said in Casablanca, "I'm shocked, SHOCKED to find that gambling is going on in here!" (as a croupier hands Renault a pile of money and says, "Your winnings, sir."

    And we thought the Vichy French were corrupt...
    Dec 22 11:24 am |Rating: +4 0 |Link to Comment
  • Wall Street Breakfast: Must-Know News [View article]
    "GM ousts CEO, vows progress."

    Well, heck, if progress is that easily obtained, why not fire the whole executive suite and start fresh? Now THAT would be progress!
    Dec 02 10:57 am |Rating: +4 0 |Link to Comment
  • Wall Street Breakfast: Must-Know News [View article]
    "Shedding light on the dark pools... the SEC will reportedly today propose slashing the percent of daily volume in a company's shares that can be executed on the systems before quotes must be publicized to 0.25% from 5%...Trading executives warn sweeping rule changes could ultimately hurt the investors regulators are trying to empower."

    I first warned of the abuses inherent in dark pools three years ago. In one of my earliest articles on SA, I tried to expose these practices to the unwelcome (to Goldman, Citadel et al) glare of fresh sunlight. They are basically yet another way to make investors pay more for their trades by hiding the actual size of orders from the trading desks of banks that are playing Big Casino rather than making loans to businesses with the money we gave them.

    The fact that "Trading executives warn sweeping rule changes could ultimately hurt the investors regulators are trying to empower," should be proof enough that reining these gambling addicts in is a good thing. If the "trading executives" are against it it means it's bad for them, good for us.

    The enemy of my enemy is my friend...
    Oct 21 10:08 am |Rating: +9 0 |Link to Comment
  • Wall Street Breakfast: Must-Know News [View article]

    "Bernanke suggests regulation by committee."

    As if the government is not screwed up enough, now we are going to have even MORE decisions by committee, ensuring those decisions will be at the lowest common denominator of intellect and common sense.

    What is the definition of a camel? "A horse designed by a committee."
    Oct 02 11:11 am |Rating: +3 -2 |Link to Comment
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