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  • Interview: Journalist Matt Taibbi [View article]
    "Wisdom",

    Thanks for the feedback. I'd love to hear which of the facts from Taibbi's two articles do not qualify as journalism to you. Please share because his articles have been sent to me by former GS alum saying, "He nailed it." That doesn't even begin to touch on all the other hedgies (still working and very successful) who think Taibbi's articles were excellent. I think that makes the "juvenile" comment reflect your lack of connection to those at the top.

    Thanks.


    On Jul 08 05:40 PM Wisdom vs. Information wrote:

    > MT is a very entertaining writer, but a joke as a finance journalist;
    > this article was embarrassing to read. comparing MT to ML is just
    > plain juvenile
    Jul 9 08:29 AM | 3 Likes Like |Link to Comment
  • Interview: Journalist Matt Taibbi [View article]
    Daniel,

    Thanks for the feedback. I'd love to hear which of the facts from Taibbi's two articles do not qualify as journalism to you. Please share because his articles have been sent to me by former GS alum saying, "He nailed it." That doesn't even begin to touch on all the other hedgies (still working and very successful) who think Taibbi's articles were excellent. Thanks.


    On Jul 08 08:08 PM Daniel Harrison wrote:

    > Gotta say, I agree. Extremely entertaining writer, but as another
    > commenter here pointed out, "he took events that ALL major financial
    > institutions were a part of and attributed them to Goldman Sachs"
    > with his latest article (which was part of the entertainment factor).
    >
    >
    > Well done with landing the interview and everything, but a little
    > more of an objective set-up would have been nice (i.e. maybe you
    > could have let us decide whether he was worthy of the acclamation
    > of being "possibly the most talented writer to stuff Rolling Stone
    > since Hunter S. Thompson" -- or at least, not stated it so droolingly).
    >
    >
    > But this interview does reflect one crucial point: Taibbi is a writer
    > first, and a journalist second. Which is unfortunately pretty useless
    > in financial journalism, where writing is only as good as the reportage
    > that underlies it.
    >
    > On Jul 08 05:40 PM Wisdom vs. Information wrote:
    Jul 9 08:26 AM | 3 Likes Like |Link to Comment
  • Zero Hedge vs. CNBC - Durden Wins Round 2 Too [View article]
    Agreed. Check this scary metric/chart:

    freakonomics.blogs.nyt.../


    On Jul 03 05:18 PM dcb wrote:

    > In an economy with consumer spending 70% of GDP you can't have a
    > "real" recovery without the consumer. Since the jobless recovery
    > of the bush years was based upon mortgage equity withdrawls, meaning
    > it was based upon debt, which are gone now the recovery will be a
    > long time in the making. If you include the fact that savings rates
    > may actually increase we may stabilize, but not see growth.
    >
    > There are simple macoreconomic facts that can't be ignored. they
    > may take longer than expected to arrive, but once here they do not
    > go away until corrected
    Jul 4 12:18 AM | 2 Likes Like |Link to Comment
  • Big Banks Drag Feet in Foreclosures to Reap Gains [View article]
    Welcome to the way it has always been, my friend. Barry Ritholtz covers all that everyday ...


    On Jun 20 01:05 PM Fitz919 wrote:

    > So the big 4 banks are holding off on forclosures because the Home
    > Equity Lines Of Credit connected to those mortgages will be valued
    > at zero on their books. The dollar amount involved is so huge that
    > the banks will go broke and therefore be insolvent.
    >
    > And this is supposed to be news. There are already lots of reasons
    > why the big 4 are insolvent. They get to carry on their charade
    > because the government has forced them to. If they don't play ball
    > with the government, CEO's and boards are fired. So they continue
    > to play their game.
    >
    > If the big 4...the too big to fail big 4, collapse, confidence in
    > the U.S. financial system will collapse, and we won't be able to
    > sell our debt to foreigners any more. Credit will freeze even tighter
    > than it already has, and everyone will go into survival mode, not
    > just the people whose unemployment benefits have run out.
    >
    > This is why government reports are "Seasonally Adjusted', or have
    > fictional "Births and Deaths" numbers thrown in to make them look
    > better. Everything is being spun so that we don't lose confidence.
    >
    >
    > For the Obama administration, it's one wrong move, and they're presiding
    > over a Depression. So they just keep dancing around the truth, and
    > keep the lies flowing. It's amazing what they can accomplish with
    > a good teleprompter, some arm-twisting behind the scenes, and repeating
    > a pack of lies.
    Jun 24 12:09 AM | 1 Like Like |Link to Comment
  • Nusbaum on Ritholtz: A Review of 'Bailout Nation' [View article]
    Nice review, Roger. I reviewed and enjoyed the book as well. Thanks!
    Jun 20 01:01 AM | Likes Like |Link to Comment
  • Two Sectors to Watch for a Return to the Glory Days [View article]
    Economic sense and hype are separate. We are still in the first inning of the internet, but in 99 people were willing to pay for the next 50 years of profits. Same will occur when the sci-fi salesmen start pushing health tech or alt energy.


    On Jun 13 11:51 PM Scott Weitz wrote:

    > Health Tech- even with socialized medicine on its way?
    >
    > Alternative Energy- one can only hope...this is the only bright spot
    > in the economy. Personally, I still don't see how it makes economic
    > sense yet...unless oil continues to rise.
    Jun 20 12:35 AM | Likes Like |Link to Comment
  • Two Sectors to Watch for a Return to the Glory Days [View article]
    After the dotcom collapse, I heard many 40+ aged folks swear they'd never chase a bubble again. Only took a few years.

    When a lifetime portfolio is down 20-40%, the choice remains: work for the rest of your life or try to make some back investing.

    On Jun 12 07:08 PM Javaharv wrote:

    > People you lived through the depression have since been very skeptical
    > of equities. I think the boomers who are at retirement are very
    > risk adverse. But those who think they have time may want to "chase
    > the pot". Bubbles are like a ponzie they are impossible to resist,
    > because "everyone is making money so why not cash in, until of course
    > when the end comes.
    Jun 20 12:34 AM | Likes Like |Link to Comment
  • Two Sectors to Watch for a Return to the Glory Days [View article]
    Rock on!


    On Jun 12 12:09 PM vpratt51 wrote:

    > I can't believe there are not numerous, humorous comments. Thank-you
    > for the light, bright, and probably right side of forecasting. Rock
    > and roll to rocking chair, eh? I'm 58 and may see only 10 more,
    > but I swear they will be the best!
    Jun 20 12:31 AM | Likes Like |Link to Comment
  • Big Banks Drag Feet in Foreclosures to Reap Gains [View article]
    Excellent research!


    On Jun 19 01:32 PM AmericanSheep wrote:

    > U.S. Code Title 18 Chapter 47 Section 1005,1006,1010,and 1014 In
    > short says, a broker , lender or employee of a financial institution
    > will be charged for defrauding or falsifying docs. No where does
    > it say the homeowner to be charged. More lies. Why? Because a homeowner
    > doesn't have the employeed power to enforce a contract.
    > www.law.cornell.edu/us...
    >
    >
    > If a home owner lied about his debts then they risk their own finances.
    > But the broker had my bank statements, taxes from my acountant, and
    > my credit report, how was it possible to lie about my income. <br/>
    >
    > Title 12 Chap. 29 Section 2803 (6) loan application must be on file
    > for 4 years. Where 's my loan app. Show me where I lied.
    >
    > Tittle 12 Chap.27. Sec. 2604 Special Information Booklet. Did you
    > ever see one?
    > A client signs the docs., just as they sign the docs. allowing a
    > doctor or mechanic to perform their duties. Your not responsible
    > if your doctor performs a sugery you didn't request. Your not responsible
    > if your car breaks down pulling out of the shop. We have laws protecting
    > the consumer. They're just largely being ignored.
    Jun 20 12:30 AM | Likes Like |Link to Comment
  • Big Banks Drag Feet in Foreclosures to Reap Gains [View article]
    All the stalling on the macro level has one motive: preventing market sell-offs. Stocks can correct in only two ways: price or time. So, we can unwind the banks and have the stock market go down another 50%, or we can play BS rhetoric and accounting games to go sideways until value catches up with price again.

    Since governments only care about maintaining order, they will choose tread sideways over taking our bitter medicine.


    On Jun 19 12:08 PM greedcanbgood wrote:

    > I'm not sure that I concur. A deal that far gone will HAVE to be
    > foreclosed upon at some time so whether it's this quarter or next,
    > the hit still remains. I would think that a financial institution
    > might want to get them written off faster, take their lumps and purge
    > their portfolios so they can look like a hero in subsequent quarters.
    Jun 20 12:29 AM | 1 Like Like |Link to Comment
  • Book Review: Barry Ritholtz's Bailout Nation [View article]
    With all due respect, Barry's book is well researched and full of historical facts. Your comment is very superficial.

    In your profile you proclaim yourself "the leading academic energy economist in the world." Funny. I just emailed a leading energy analyst at Goldman Sachs and he never heard of you. Also, your textbook has a pretty dismal sales rating (you can see it right on the page) for the world's leading authority.

    You should be more respectful to someone who has spent the past several months collecting a very credible amount of research about the causes of the financial collapse. Your resume alone does not make you important or even smart. There are plenty of morons who become, CEO, professor, Chairman of the Fed, and even President of G7 countries.

    Considering you haven't even read Barry's book, you should consider how much of a dick someone would have to be to make a negative comment about your book on its Amazon page ... especially when they did not read it.

    Thanks for showing your true colors.
    May 24 06:11 PM | 3 Likes Like |Link to Comment
  • Book Review: Barry Ritholtz's Bailout Nation [View article]
    "The reelection of Bush" seems like a much more academic and thorough explanation than Barry's complete overview of historical bailouts and all the variables that contributed to the collapse. Thanks for the insightful thoughts. I can't even understand what is the point of your last paragraph. Bad grammar or incomplete thought?
    May 24 05:53 PM | 1 Like Like |Link to Comment
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