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Frontrunning: April 23
- Jim Grant op-ed: The best financial reform? Let the bankers fail (WaPo)
- Goldman gambles as lawyers say bank should settle with SEC (Bloomberg)
- What Chinese Wall? Goldman role in Lloyds deal in spotlight (FT)
- Probe of Goldman director turns to Buffett deal (WSJ)
- Goldman 'doing god's work' (National Post)
- Soros: America must face up to the dangers of derivatives (FT)
- Durable goods down, on 67% plunge in demand for commercial aircraft (Census Bureau, Bloomberg)
- Big bonuses are back. Backlash isn't (Fortune)
- IMF head sees no need to focus efforts in any other country beyond Greece (El Pais, h/t Paul)
- Goldman's embarassing emails (Fox Business)
- America getting dumber: three-year bachelor's degree gains popularity (LA Times)
- Eichengreen: Why China is right on the renminbi (Project Syndicate)
- Friend to Wall Street, Schumer is suddenly quiet (NYT)
- California heightens scrutiny on CDS (FT, h/t Paul)
- Monthly market review: it's valuation, stupid (Value Expectations)
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Today's front page of Canada's National Post Newspaper
GOLDMAN CEO PUTS ON GAME FACE FOR PRESIDENT
http://i42.tinypic.com/2ynjy9y.jpg
CNBC is stealing Tyler's act. This headline should have been on ZH first:
http://www.cnbc.com/id/36733087
LMAO
get 200k a year to watch porn...glad I paid my taxes this year at least someone is getting off.
I don't think I've seen Martin Wolf's "The challenge of halting the financial doomsday machine" (or the speech by the UK FSA chairman it's based on) on ZH yet; did I miss it? Pounds of bloody debt-deflationist and anti-HFT red meat there: surely it can't have been overlooked?
Durable goods miss is already being spun on the Smiley Face website. With the market's limited attention to detail span, the aircraft drop off can be attributed to the volcano, and that explanation will be bought. Other than transportation goods---some of which the US still actually manufactures---there were two year high levels of "other" durable goods, which of course includes your lead painted Chinese made washer and dryer combo, dishwasher, and stove. But at least US based retailers sell that stuff, so it does actually employ somebody within the continental 48 plus 2.
Re advice to Goldman to settle:
I want to see them go to court and prove that they are not corrupt.
Well well well, finally, admission that those aircraft orders never really existed at all. This was a long time coming.
Absolutely, GS should have their day in court.
Any out of court settlement would only be an admission of guilt. And I am sure they would want to avoid that scenario being the scrupulously honest organisation they are.
“The last thing we want to do is put these people out of business,” Mr. Dodd said. Campaign cash is at stake in this New York Time's article. Financial reform is a cynical attempt to appease the sheeple, but maintains the flow of funds to their campaign's coffers.
Concur with Jim Grant, if you fail, you fail!
Screw the bail-outs (reform).
Funny how Soros still clings hopelessly to the failed notion of the "sophisticated investor". Interestingly, Soros seems to be advocating regulating to the point of outlawing certain kinds of private transactions at the same time.