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  • Wall Street Breakfast: Must-Know News [View article]
    The desireable level of consumer credit is one of those things that is knowable. We are still nowhere near a normalized percent of family income.
    Oct 08 12:20 pm |Rating: 0 0 |Link to Comment
  • Wall Street Breakfast: Must-Know News [View article]
    Who can think of anything other than AIG?

    1. Blue Okie has a point. More important than the bonuses are the discounts (if any) that were made on the debt obligations that AIG redeemed for counterparties. Probably billions with little or no business risk adjustment.

    2. Why not have the next tranche include a provision that $165,000,000 comes back immediately, and that amount is to be taken out of the bonus pool for the next two years? And the members of the compensation committee all be fired? And that a criminal investigation be started to see where there was fraud?

    3. And does anybody really think that the US government should be involved ir running companies? AIG; Fannie; Freddie; GM; Chrysler; etc. It should be crystal clear that this is just not something that the government is capable of doing.

    Mar 17 13:56 pm |Rating: +3 0 |Link to Comment
  • Wall Street Breakfast: Must-Know News [View article]
    Lots of political nihilism for just a week before the messiah takes over. I would note that over 90% of incumbents in congress were reelected despite an approval rating for the institution of less than 15%. At least the 8 year drumbeat of NYT criticism of President Bush will shortly be over .
    Jan 13 12:31 pm |Rating: 0 -1 |Link to Comment
  • Wall Street Breakfast: Must-Know News [View article]
    This is a fascinating time. You get ranting pupulism, political finger pointing, and even some religion. jlounsbury makes more sense than anybody. One of the best data points in Eli's summary is that consumer debt fell $7.9 billion in August- the largest decline since they started keeping statistics in 1943. The good point is that the government didn't have to tell anybody to do this.
    Oct 08 17:12 pm |Rating: 0 0 |Link to Comment
  • Wall Street Breakfast: Must-Know News [View article]
    For jjason: While it may be possible to teach something about ethics in business school, what is more actionable is a healthy dose of scepticism and a requirement that the referees do their job. In this whole subprime mess, I do not blame the folks who invented and sold CDOs, the fault lies with the folks who bought them, and the rating agencies who have little other purpose than to evaluate what is being bought and sold, yet were AWOL.
    As for Eli - I find your daily summary to be of great value. It provides the flavor of what is going on on Wall Street, kind of like an extended version of David Faber of CNBC. In selecting what to talk about and what not, you give us a background against which to do further analysis, or to discard the flim flam stuff. Thanks so much.
    RightinSanFrancisco.co...
    Jun 11 11:26 am |Rating: 0 0 |Link to Comment
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