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Frontrunning: January 29
- Goldman not only monopolizes FICC, now has best (read fastest) equity desk; And this is why prop can never be seperated from flow at Goldman (Bloomberg)
- Conflicting Greek stories: EU has no Greek "plan B", Finance Chief pledges cuts (Bloomberg), EU reluctantly plans Greece bail out (FT)
- Funds flee Greece as Germany warns warns "fatal" eurozone crisis (Telegraph)
- Geithner's AIG bailout (The Nation)
- Fed chief on shaky footing after confirmation fight; Tough calls ahead on rates (WSJ)
- Stiglitz: Obama's banking proposals are a good first step (LA Times)
- Samuelson: Ben Bernanke's simple task (RCM)
- Bernanke may have harder fight defending Fed after confirmation (Bloomberg)
- Going private? Goldman's not going anywhere (Fortune)
- Who's selling Greek CDS? (Alphaville)
- Wall Street tries to put a price on the Volcker rule (Dealbook)
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niederhoffer's daily speculations blog posted about a (federal reserve) paper yielding some very interesting conclusions regarding algo trading that may surprise (or not, considering its provenance) some of us over here...the blog post, and the related paper to which it links, are essential reading even for those who will disagree with the findings:
http://www.dailyspeculations.com/wordpress/?p=4350
Janine Wedel, author of the book "Shadow Elite: How the World's New Power Brokers Undermine Democracy, Government", and the Free Market" and HuffPost blogger, was a guest on Dylan Ratigan's MSNBC show this afternoon to discuss the ramifications of the Supreme Court's recent and controversial decision to dismantle regulations capping the amount of money corporations can spend in political donations.
Wedel argued that the decision will help solidify the intertwining of state and public power.
http://www.huffingtonpost.com/2010/01/28/janine-wedel-discusses-ho_n_440...
> “There is no bailout problem,” Monetary Affairs Commissioner Joaquin Almunia said today in an interview with Bloomberg Television at the World Economic Forum’s annual meeting in Davos, Switzerland. “Greece will not default. On the Starship Titanic, default does not exist.”
According to Rogoff Reinhard table of sovereign risks default 1800 1899
Spain would rank first with 8 defaults on a 100 years life span,where Greece only 5 times.
Bonds holders should worry for larger sovereign risks defaults as the fat tail of distribution of default events is moving in favor of large sized sovereign risks.
Greece, Spain, Portugal are peripheral in the events chain.
I can't recall what the master plan for Greece was in WW II.
All those lovely greek women. Surely, the germans had already written papers establishing the probable Arian heritage of greeks.
HEH
-MobBarley
July 1, 2008, to June 30, 2009, according to data compiled by Ancerno Ltd.
During that time, stock volatility quadrupled from its 20- year average and the Dow Jones Industrial Average swung by more than 40 percent.
On Jan. 13, the SEC took a first step toward reviewing the effect of trading strategies in which computers may buy or sell shares as many as 1,000 times a second. The commission asked traders, exchanges and the public to weigh in on high-speed trading, which has soared since 2005 to account for as much as 61 percent of U.S. stock market activity and 70 percent of individual trades, financial services consultant Tabb Group LLC says.
Anybody out there thinks HFT makes more volitile markets!!