Frontrunning: September 11

• Must read: Break up the banks to fix the system (FT)
• The five non-sell outs. One wonders if to honor or pity them (Bloomberg)
• Wall Street's mania for short-term results hurts economy (WaPo)
• Nomura says headhunter requested "absurd" fee for Lehman bankers (Bloomberg)
• Mack steps down as MS chief after seeking to curb risk (Bloomberg)
• Another thousandth cut for the dollar: just please die already and make Bernanke a happy man (FT)
• How much debt is too much (Forbes)
• The Cramer-Roubini X-treme index (Wall St. Cheat Sheet)
• The Lehman anniversary: "It felt like someone had just died a tragic and untimely death" (FT Alphaville)
• The China credit bubble on steroids (Bloomberg)
• An economy only a mother could love (US News)
• How to save newspapers & journalism (The Big Picture)
• US Economic and Interest Rate Forecast: Recovery Arrives - but Not a ‘V' (Morgan Stanley)
• More on gold and the CUMB-E Index of Fed policy flexibility (Cumberland Advisors)

Comments

[mdtrader]

"There is no spoon"

NDX back to pre crisis levels.

http://stockcharts.com/h-sc/ui?s=$NDX&p=D&yr=3&mn=0&dy=0&id=p64287227237

[Anonymous]

Will we live to see the day when Tim and his criminal friends end up in jail?

http://www.askbutwhy.com/2009/09/elizabeth-warren-goes-after-tim.html

[Marley]

Ha ha ha ha ha ha.ha ....ha ha ha ha ha ha....ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ....hee hee hee.....hee...sigh......ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha....

[mdtrader]

1.4635 the big fib number on the EURUSD, if it blows say goodnight to the greenback.

[mdtrader]

Hit it exactly then they turned it around. Sweet. Euro breaking down against the Yen and looks vulnerable against sterling.

[ratava]

how do you get .4635? i thought the 61.8% was .4620

[. . .]

Tyler D:  Mack steps down as MS chief after seeking to curb risk (Bloomberg)

------------------

And after the revival of the SEC investigation into insider trading at Pequot Capital, and the testimony by a former SEC staffer that he suspected John Mack (while at Credit Suisse) had tipped off Pequot about a merger deal.

[Comrade de Chaos]

I miss EU Zone / world report from the contributors section, (raymond-shaw, pity please?!?)

[Anonymous]

There is nothing of interest happening every morning in Europe, everyone just waits for the US markets to open.

Been wondering for years when this might change.

[Careless Whisper]

Pretty good list today but you forgot at least one RIDICULOUS PROPOGANDA story on the market, so here it is:

http://www.nytimes.com/2009/09/11/business/11investors.html?_r=1&hpw

[mdtrader]

Gold - ultimate currency status finally starting to be recognised. Plot a course for $1200-$1300 by year end.

[Ivanovich]

What the F just happened to the dollar?

[Grifter]

I really enjoyed the FT article, and found the authors' suggestion to do Glass-Steagel 2.0 to be quite intriguing. 

Thanks for that, TD. 

[Careless Whisper]

The Bloomberg article on five non-sell outs would be better headlined: five profiles in courage. Props to them.

[Anonymous]

Right. Break up ANY organization that cannot run without a modicum of efficiency.

That would include CONgress, the US Government generally, and for last 50 years it's looking like Robert E. Lee was right all along. The United States, isn't, and its long past time to recognize that too. Bust it up.

People who think that they can operate organisms with hundreds of thousands of employees ro hundreds of millions of people are monstrous megalomaniacs. Recognize that they are insane and be done with it, do not permit them out of the asylum.

Sherman Antitrust and other regs should address the issue of size once and for all.