farmer448's Comments RSS Syndication from SeekingAlpha.com http://seekingalpha.comuser/191221/comments http://seekingalpha.com/news/market_currents/post/36952?source=feed#comment-771754 771754 We currently exist with too much regulation and not enough principles. I suggest the following two Principles should help clear a maddingly obtuse financial system for the Financial Services Committee:

Transparency of the financial system (banking, trading, insurance) is a must for all transactions.
If the free market is to exist, information on transactions must be freely available to ratings agencies, regulators, educators, reporters and the public. Too much data today is viewed through fuzzy pair of glasses. Clarity of all financial actions and exposure is needed.


The KISS principle (Keep it Simple Stupid) needs to be followed.
The obtuse an instrument is the less a rational man can determine his risk. In Engineering as well as public policy, violating the KISS principle leads toward unexpected failures (Black Swan Events).


PS the other principle that has been violated is ownership. Changing investment banks from partnerships to corporations has resulted in managers not owning the bad results of their actions. Maybe an LLC form here might be more appropriate to increase the managements exposure to bad outcomes.
]]> Sun, 22 Nov 2009 10:27:15 -0500 We currently exist with too much regulation and not enough principles. I suggest the following two Principles should help clear a maddingly obtuse financial system for the Financial Services Committee:

Transparency of the financial system (banking, trading, insurance) is a must for all transactions.
If the free market is to exist, information on transactions must be freely available to ratings agencies, regulators, educators, reporters and the public. Too much data today is viewed through fuzzy pair of glasses. Clarity of all financial actions and exposure is needed.


The KISS principle (Keep it Simple Stupid) needs to be followed.
The obtuse an instrument is the less a rational man can determine his risk. In Engineering as well as public policy, violating the KISS principle leads toward unexpected failures (Black Swan Events).


PS the other principle that has been violated is ownership. Changing investment banks from partnerships to corporations has resulted in managers not owning the bad results of their actions. Maybe an LLC form here might be more appropriate to increase the managements exposure to bad outcomes.
]]> http://seekingalpha.com/news/market_currents/post/36482?source=feed#comment-759398 759398 Fri, 13 Nov 2009 17:28:31 -0500 http://seekingalpha.com/news/market_currents/post/36077?source=feed#comment-750657 750657 Sun, 08 Nov 2009 09:41:12 -0500 http://seekingalpha.com/news/market_currents/post/34924?source=feed#comment-728039 728039 Oh yes professor, some call it managing by walking around. A little reality check on what the impacts of the fallout from the financial meltdown are in order.

So what are you going to lead or apologize????]]> Fri, 23 Oct 2009 23:16:20 -0400 Oh yes professor, some call it managing by walking around. A little reality check on what the impacts of the fallout from the financial meltdown are in order.

So what are you going to lead or apologize????]]> http://seekingalpha.com/article/162841-outlandish-ceo-pay-how-to-fix-the-problem?source=feed#comment-687632 687632 Right now directors are not held accountable for their actions. ]]> Wed, 23 Sep 2009 11:05:51 -0400 Right now directors are not held accountable for their actions. ]]> http://seekingalpha.com/news/market_currents/post/32434?source=feed#comment-681109 681109 When you can pay a bribe, sorry fine, do not admit to culpability, and keep most of the gains then is the SEC strategy of settlements really working.
Three cheers for the judge in holding the SEC in this case accountable. ]]> Thu, 17 Sep 2009 14:12:46 -0400 When you can pay a bribe, sorry fine, do not admit to culpability, and keep most of the gains then is the SEC strategy of settlements really working.
Three cheers for the judge in holding the SEC in this case accountable. ]]> http://seekingalpha.com/news/market_currents/post/32011?source=feed#comment-665005 665005 A great plot for Law and Order as a bond holder hires a hit man to get his bonds to pay out. Whoopee.

This is very similar to when companies bought policies where the company was the beneficiary on their employees. Maybe Wall Street should talk to WalMart about how it that idea worked out.

Needless to say the government better wonder about the Ethical issues here as well as the financial. ]]> Mon, 07 Sep 2009 09:45:46 -0400 A great plot for Law and Order as a bond holder hires a hit man to get his bonds to pay out. Whoopee.

This is very similar to when companies bought policies where the company was the beneficiary on their employees. Maybe Wall Street should talk to WalMart about how it that idea worked out.

Needless to say the government better wonder about the Ethical issues here as well as the financial. ]]> http://seekingalpha.com/article/160007-citigroup-a-simple-analysis-of-a-terribly-complex-company?source=feed#comment-663295 663295
I learned a long time ago you do better in well managed companies. In this banking environment it is very important to look at the management and how customers are treated. Big should not be looked at as better.

Your analysis is exactly what I would expect from a by the numbers fellow. However, their are banks that are better managed, with better numbers that will probably produce superior returns once the over-leveraged assets are worked out. Citicorp is a zombie hoping for a second life ]]> Sat, 05 Sep 2009 15:14:20 -0400
I learned a long time ago you do better in well managed companies. In this banking environment it is very important to look at the management and how customers are treated. Big should not be looked at as better.

Your analysis is exactly what I would expect from a by the numbers fellow. However, their are banks that are better managed, with better numbers that will probably produce superior returns once the over-leveraged assets are worked out. Citicorp is a zombie hoping for a second life ]]> http://seekingalpha.com/article/159728-four-problems-undermining-future-american-prosperity?source=feed#comment-660221 660221 Instead as workers, leaders look at us as replaceable washers.
]]> Thu, 03 Sep 2009 10:27:25 -0400 Instead as workers, leaders look at us as replaceable washers.
]]> http://seekingalpha.com/news/market_currents/post/31515?source=feed#comment-652650 652650 Sat, 29 Aug 2009 16:20:44 -0400 http://seekingalpha.com/article/154301-shorts-running-from-the-sec?source=feed#comment-618665 618665
Yesterday's 134,692,347 share volume was 99.59% of all shares.
Today's 130,678,636 share volume was 96.62% of all shares

For a two day turnover percentage of 196.21%.

Calling the SEC, Calling the SEC are you answering the phone?]]> Thu, 06 Aug 2009 16:49:20 -0400
Yesterday's 134,692,347 share volume was 99.59% of all shares.
Today's 130,678,636 share volume was 96.62% of all shares

For a two day turnover percentage of 196.21%.

Calling the SEC, Calling the SEC are you answering the phone?]]> http://seekingalpha.com/news/market_currents/post/29873?source=feed#comment-617087 617087
And the bankers want to win back the public trust. Something does not smell right here but I guess the SEC will maintain they are clueless.]]> Wed, 05 Aug 2009 18:13:04 -0400
And the bankers want to win back the public trust. Something does not smell right here but I guess the SEC will maintain they are clueless.]]> http://seekingalpha.com/article/154018-john-dugan-controller-of-the-u-s-currency-misses-the-mark?source=feed#comment-617008 617008
It is so nice to know the comptroller of the currency considers outlandish fees and 26% interest on credit cards as in the consumer interest. ]]> Wed, 05 Aug 2009 17:32:35 -0400
It is so nice to know the comptroller of the currency considers outlandish fees and 26% interest on credit cards as in the consumer interest. ]]> http://seekingalpha.com/article/151612-was-the-aig-bailout-a-goldman-bailout-by-proxy?source=feed#comment-604180 604180
I don't know how much the international issues played in the discussions of the bailout. The bailout of AIG did effect London and the EC.]]> Mon, 27 Jul 2009 17:18:47 -0400
I don't know how much the international issues played in the discussions of the bailout. The bailout of AIG did effect London and the EC.]]> http://seekingalpha.com/article/151628-where-s-the-derivatives-exposure?source=feed#comment-604176 604176 Mon, 27 Jul 2009 17:15:43 -0400 http://seekingalpha.com/news/market_currents/post/28127?source=feed#comment-590755 590755
Interestingly enough he says all the Mexican Construction Workers left when construction died. What about all the American Construction Workers?]]> Thu, 16 Jul 2009 13:50:00 -0400
Interestingly enough he says all the Mexican Construction Workers left when construction died. What about all the American Construction Workers?]]> http://seekingalpha.com/news/market_currents/post/27388?source=feed#comment-577089 577089 Second, folks this is source code, and probably not the complete system for computerized trading.

This seems to be more about computer science ignorance. So Goldman has used the Feds to "Protect" their proprietary secrets.

]]> Tue, 07 Jul 2009 11:03:04 -0400 Second, folks this is source code, and probably not the complete system for computerized trading.

This seems to be more about computer science ignorance. So Goldman has used the Feds to "Protect" their proprietary secrets.

]]> http://seekingalpha.com/article/144229-what-s-citi-doing-to-pandit?source=feed#comment-555456 555456
So why would I do business with a bank who cannot even do the basics correctly?

Thank-god their are still regional and locally owned banks....]]> Sat, 20 Jun 2009 15:01:29 -0400
So why would I do business with a bank who cannot even do the basics correctly?

Thank-god their are still regional and locally owned banks....]]> http://seekingalpha.com/news/market_currents/post/26236?source=feed#comment-552618 552618 Hasn't the history been the exact opposite?

So Greenspan had requlation Q to dampen the irrational exuburance of the late 1990's. But he didn't use it.

The regulators (FED and SEC0 of this new century have had the tools but failed to use them.

So how does Congress propose to handle failures by the organizations charged with regulation failing to do their jobs.

PS Where is the consumer/voter voice in all of this??]]> Thu, 18 Jun 2009 15:24:10 -0400 Hasn't the history been the exact opposite?

So Greenspan had requlation Q to dampen the irrational exuburance of the late 1990's. But he didn't use it.

The regulators (FED and SEC0 of this new century have had the tools but failed to use them.

So how does Congress propose to handle failures by the organizations charged with regulation failing to do their jobs.

PS Where is the consumer/voter voice in all of this??]]> http://seekingalpha.com/article/142999-the-economy-now-a-5-point-summary?source=feed#comment-546156 546156 ]]> Sun, 14 Jun 2009 13:26:55 -0400 ]]> http://seekingalpha.com/article/142899-citigroup-tax-preservation-poison-pill?source=feed#comment-546144 546144 moneycentral.msn.com/c...]]> Sun, 14 Jun 2009 13:13:36 -0400 moneycentral.msn.com/c...]]> http://seekingalpha.com/article/141306-legacy-loan-program-called-off?source=feed#comment-531624 531624 Thu, 04 Jun 2009 09:49:40 -0400 http://seekingalpha.com/article/140816-banks-try-to-block-regulation-saying-it-will-hamper-innovation?source=feed#comment-528368 528368 Tue, 02 Jun 2009 13:34:05 -0400 http://seekingalpha.com/article/140604-let-the-financial-scapegoat-go?source=feed#comment-526789 526789 And of my we cannot fault Standard And Poors or Moodys for sticking their head in the grouns.
And not hedge fund ever went bust except when they bet on Russian Bonds??? Long Term Capital had to be bailed out and not left to rot in bankruptcy,
Derivatives, we don't need no stinkin regulation...Opps Lehman and AIG. And 500+ trillion dollars of derivative contracts on a 600 trillion dollar economy. Homey thinks something is rotton in der state of Denmark.
Oh, manufacturing is great here in the US. Opps GMAC, GE's Financial, Chryler Financial took down these well financially managed manufacturing companies.
And please explain 140 plus oil without all the speculation the hedge funds were doing in the futures market.
And who would ever think leveraging equity at 30 to 1 is the smart thing for high risk investment banks when commercial is 10-12 to 1.
And finally, who put all the cheap money out there in the first place? Japan with zero rates and the Federal Reserve?
So it would appear you are taking the same kind of mind altering drugs the smart guys on wall street were dispensing.]]> Mon, 01 Jun 2009 13:58:31 -0400 And of my we cannot fault Standard And Poors or Moodys for sticking their head in the grouns.
And not hedge fund ever went bust except when they bet on Russian Bonds??? Long Term Capital had to be bailed out and not left to rot in bankruptcy,
Derivatives, we don't need no stinkin regulation...Opps Lehman and AIG. And 500+ trillion dollars of derivative contracts on a 600 trillion dollar economy. Homey thinks something is rotton in der state of Denmark.
Oh, manufacturing is great here in the US. Opps GMAC, GE's Financial, Chryler Financial took down these well financially managed manufacturing companies.
And please explain 140 plus oil without all the speculation the hedge funds were doing in the futures market.
And who would ever think leveraging equity at 30 to 1 is the smart thing for high risk investment banks when commercial is 10-12 to 1.
And finally, who put all the cheap money out there in the first place? Japan with zero rates and the Federal Reserve?
So it would appear you are taking the same kind of mind altering drugs the smart guys on wall street were dispensing.]]> http://seekingalpha.com/news/market_currents/post/24943?source=feed#comment-519220 519220 Wed, 27 May 2009 08:22:30 -0400 http://seekingalpha.com/article/139434-putting-deficits-into-perspective?source=feed#comment-516674 516674

Congress has a lot of tough issues on its plate. It is time for the electorate to force congress to act or do not re-elect them.]]> Mon, 25 May 2009 10:06:07 -0400

Congress has a lot of tough issues on its plate. It is time for the electorate to force congress to act or do not re-elect them.]]> http://seekingalpha.com/news/market_currents/post/24822?source=feed#comment-516257 516257 Sun, 24 May 2009 15:19:50 -0400 http://seekingalpha.com/article/139200-citigroup-s-doomed-it-strategy?source=feed#comment-515710 515710
I assume you do not do systems for CitiMortgage. What a bunch of screwups. The customer service system is a joke.
When the systems fail, customer service cannot fix it. They do not have visibility into subcontractor systems. They are only responsible for the call and not the problem. So if it cannot be solved in a call no one will fix the problem.

Cost me 114 dollars in penalties and interest to my School District to find this out. CitiMortgage says not my job even though they over collected the taxes.

The problem is not just in IT systems, but in management systems that actualy work.]]> Sat, 23 May 2009 19:57:10 -0400
I assume you do not do systems for CitiMortgage. What a bunch of screwups. The customer service system is a joke.
When the systems fail, customer service cannot fix it. They do not have visibility into subcontractor systems. They are only responsible for the call and not the problem. So if it cannot be solved in a call no one will fix the problem.

Cost me 114 dollars in penalties and interest to my School District to find this out. CitiMortgage says not my job even though they over collected the taxes.

The problem is not just in IT systems, but in management systems that actualy work.]]> http://seekingalpha.com/article/137799-credit-cards-do-the-banks-own-the-senate?source=feed#comment-508606 508606 Mon, 18 May 2009 14:48:30 -0400 http://seekingalpha.com/news/market_currents/post/24254?source=feed#comment-504373 504373
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