Archive - Aug 2, 2009

Next week the 'deal' for UBS is due out. How big is the fine going to be? Some estimate as high as $5.5 bil. $20 billion+ of withholding taxes has been applied to these accounts. Where is the money?

"As asset prices begin to reflect real earnings, top-line sales, and restricted credit conditions, where will the market find optimism and upward pressure? Does American business have any more rabbits in the hat? After the lay-offs, cost cutting, and efficiency measures, will there be demand for their products in the face of worsening macro data? The question, simply, remains: Where will the money come from?"

Some more memorable blue pill moments brought to you courtesy of Washington D.C.

CNBC once again breaks new journalistic ground by taking a long, hard look at the porn industry.

Lately, as the topic of High Frequency Trading has gotten front page prominence, there has been much confusion as to the top line impact on traders that utilize HFT methods, and inversely how much of a "toll" on investors high frequency trading is. In other words: what is the cost of liquidity?

• More on GDP:
  • GDP Report is just plain wrong (Chris Martenson)
  • Wacky waving inflatable arm-flailing GDP report (Melting Pot Project)
  • Been down long long it looks like up (Econbrowser, h/t Paul)
  • Falling Imports versus falling Exports (Ritholtz)
• The next brewing scandal: Chase serves itself first in mortgage mods; MBS bond holders up in ARMs (DebtWire, h/t Paul) - "You have Barney Frank and the government raising all this noise about hedge funds and investors, and you have Chase … taking half the borrowers’ interest payment each month"
• Who is Capco? (NYT)