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Frontrunning: February 12
- Must read from the master: Lehman justice isn't blind, it's unconscious (Bloomberg)
There’s been much talk the past two years about moral
hazard, which is the risk that companies and their investors
will behave more recklessly when they believe the government
will bail them out. Less has been made of a similar hazard: The
danger that powerful companies won’t follow the law when their
executives believe the government won’t hold them to it. The latter risk threatens not only our economy, but our
democracy. There’s every reason to believe both kinds are
growing. - China raises bank reserve requirement to cool economy (Bloomberg, Reuters)
- EU leaders deploy "Bazooka" to repel attack on Greece (Bloomberg)
- Goldman Sachs, Goldman Sachs, clicking in the votes? (Guardian)
- Evans-Pritchard: Will markets call EU bluff on Greek rescue? (Telegraph)
- Blackstone IPOs show barriers to returning fund cash (Bloomberg)
- Rise in retail sales brightens recovery picture (Reuters)
- Totally not out of leftfield post of the day: Steve "Busted IPO" Schwarzman: Lawmakers rush to punish banks threatens recovery (WaPo)
- Goldman gets another bite of the apple (Capital Gains and Games)
- Financial perversions sold during the credit boom (NYT)
Hey all you "Bill Me Later" motherfuckers. Guess what today is? (Onion)
»
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From the AEP piece:
"The 27 leaders never even discussed how they might shore up Greece or the rest of Club Med. German Chancellor Angela Merkel said she was not willing to broach the subject at all. The only relevant topic was whether Greece was complying with Treaty obligations, and how the country would slash its budget deficit from 12.7pc to 8.7pc this year – in a slump."
Are austerity and treaty enforcement slowly but surely carving their way into Eurozone policy?
Only when it so pleases the big states, most likely. So, much the same as it ever was, alas.
+1, A Weil good read.
Weil IS the master, not sure what problem KD has with him.
Angela Merkel dashes Greek hopes of rescue bid - Guardian Unlimited
Guardian Unlimited reports Angela Merkel, the German chancellor, mounted stiff resistance to any swift bailout of Greece, as a rift opened up between European capitals over how best to tackle the risks posed to the euro. Despite a show of Franco-German unity on the crisis and the first statement from EU leaders pledging to safeguard the currency's stability, hopes on the markets of a German-led rescue plan to shore up Greece's critical public finances were dashed by Merkel, who repeatedly emphasised that Athens would need to put its own house in order and brushed aside all questions of financial support. "Germany is stepping totally on the brakes on financial assistance," said a senior EU diplomat. "On legal grounds, on constitutional grounds and on principle." Another senior diplomat said of the Germans: "They're not waving their chequebooks."
"There’s been much talk the past two years about moral hazard, which is the risk that companies and their investors will behave more recklessly when they believe the government will bail them out. Less has been made of a similar hazard: The danger that powerful companies won’t follow the law when their executives believe the government won’t hold them to it. The latter risk threatens not only our economy, but our democracy. There’s every reason to believe both kinds are growing."
+100
Want to stop this Idiot, give him a call.
Iamned.com
Hey fellow ZH'rs here is information on the most annoying SPAMMER there ever was, tired of him SPAMMING us on ZH?
Let's all return the favor.
http://www.youtube.com/watch?v=thJr-jDPwNE
Cetin Hakimoglu
2930 garber street
Berkeley, CA. 94705
Phone: 510-843-1013
Facebook http://www.facebook.com/profile.php?id=1177779152&ref=fs#!/profile.php?v=wall&ref=fs&id=1177779152
The world begins to wake up to the reality that rule via Royal Decree, ie. Executive Order supported via judicial exclusion has brought upon us all.
good read: http://www.iamned.com
whats all this iamned crap?
He's a troll. Ignore him, as you would a Google ad.
RED ALERT: Mortgage Bankers Strongly Oppose New Foreclosure Bill in California – SBX8 38
These guys are a bunch of farbisseners. And I think every homeowner in America should know just what the Mortgage Bankers Association is all about. Because these guys are no one’s friend. And they should all ech hob dir in drerd.
http://tinyurl.com/yaxujuv
> Goldman Sachs, Goldman Sachs, clicking in the votes? (Guardian)
After a series of scandals http://news.bbc.co.uk/2/hi/entertainment/6915136.stm , viewer polls and competitions on UK TV are now vigilantly regulated. So you might get away with this kind of HFT in other markets, but not on British telly.
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