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Watch Bloggers Discuss Blogging At The Milken Institute Conference
If your one dream in life has been to hear four bloggers (well more like the MSM posing as bloggers since the "blog" arms of Reuters and DebtWire, pardon the FT, the first is the truly profitable business of the FT, don't strike as unconflicted - you never know, all those $20 CPM ads may get insulted and say goodbye, while the other two are a "contributor" and an "independent" so we are not exactly sure where in the food chain it puts them aside from "thinktank" panels) in this case John Carney, Felix Salmon, Heidi Moore and Stacy-Marie Ishmael discuss blogging, online media and "The Frontier of Financial Journalism" together, today is your day. The four sat down at the Milken Institute Global Conference today, and the following 74 minutes are what ensued. The topic covered was Zero Hedge. Some interesting observations. Some not so interesting. Among these, is that over 120,000 daily "Hills" viewers salute Heidi Moore. Another, is that we (erroneously) thought groupthink disguised as "original thought" only permeated the pages of VIC and the hedge fund community.
And, for the fact-checking record, nobody at Zero Hedge has ever spoken with the "independent" John Carney, regarding HFT, or anything else. But we appreciate the mythologization.
Full video after the jump.
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did that beaker dude from msnbc show up?
Michael Milken? Oh, yeah, the man behind the junk bond crisis. No, not this one. The previous one.
"Michael Milken? Oh, yeah, the man behind the junk bond crisis. No, not this one. The previous one."
Don't be so sure. See: http://www.deepcapture.com/goldman-sachs-john-paulson-and-the-hedge-fund... from which the following is excerpted:
"For more than three years, the media has swallowed the hedge fund party line that our economic troubles were solely caused by mortgage companies lending too much money to undeserving home buyers. No doubt, there was over exuberance and fraud in the world of subprime lending, but that is not the full story. It is now clear that the so-called “real estate bubble” was fueled by an expanding market for CDOs. And the market for CDOs was driven, in turn, by fraudulent deals similar to the ones that Goldman did for Paulson. In short, we witnessed a classic pump-and-dump scheme, only this time it was writ large, on the scale of the U.S. financial system.
I predict that as the details of this doomsday machine come to light, we will see that the hedge funds that profited from it all know each other well. I predict further that it will become apparent that what ties these hedge funds to each other is a common acquaintance with associates of Michael Milken, the famous financial criminal who pioneered the market for CDOs, and whose criminal debt machine nearly brought the economy to ruins in the 1980s.
John Paulson, who launched his career with the assistance of a host of Milken cronies, including Jerome Kohlberg and Leon Levy, is one of the hedge fund managers in this network. He has been described as a genius by the media, and perhaps that is what he is, but we now know that he abides by the Milken code, which has it that there is virtue in a clever con well-orchestrated. And never in history has there been a more profitable con than Paulson’s. His bets against the CDO market – the market that he helped set up to collapse — earned him more than $3 billion over the course of just a few months in 2007.
Another hedge fund in this network is Magnetar Capital, whose chairman and senior partner is Michael Gross, formerly a founding partner of Apollo Management, which is run by Milken’s closest crony Leon Black...."
My dream is to see TD and Marla, not the above mentioned folks. John Carney is pretty much an idiot who I remember posted, based on his "sources", that sunday night in september 2008 that lehman bailout was confirmed on dealbreaker. Of course we know what happened monday morning.
Never heard of any of these people. I'd be more interested in seeing Ben Jones, Mish, Tyler, Denninger, and Russ Winter. (No order of importance implied there.)
Don't forget Ben Dover III
I heard Heidi's crack about hill viewers.
I don't watch TV you self important fat hog.
As to responsibility and ethics...you have to be kidding, right?
The MSM OMITS pretty much anything relevant so they can focus on Sandra Bullock and Tiger Woods.If finance is mentioned, it is pump to the moon lies and manipulation.
That loser needs to repent of her idiocy.
And lose weight.
Yes I used an ad hominem....but it was only out of loathing.
The MSM is such a total fail vs Zero Hedge on important matters only consciousness is required to see it.
Thats a cheap shot Cistercian , you could have been a little more sporting in your criticism.
Women in general really drop down hard when you criticize their image.
Well thats my moral take over with, carry on.
You are right of course.
But I deemed her offense worthy of the lowest possible blow...her comparing us to "hill watchers" was equally offensive.
A more studied and erudite refutation of her position is simply unwarranted, because not only is she not worthy of it, I really don't think she would understand it.She is emblematic of the FAIL the MSM has become.
It was a low blow.It was also wrong.
Too bad it is all they understand.
You are forgiven my son
2 Hail Marys and a Our Father will be sufficient.
Milken is a criminal.
He can hide behind philanthropy all he wants. He's still a fucking crook.
is a philanthropic criminal anything like clean coal, congressional ethics, casual sex, comfortable bras, active retirement, an anxious patient, or...an athletic scholarship?
+!
This is how bad people integrate their good side. Well it's not really a side. It's other people they learn to mimic. LOL
+9000
Why weren't any digital dickweeds invited to this event?
The panel at the conference discussing Pigs was brilliant and Roubini led with it ain't gonna work!!!..:-)
Roubini also said that he does not see a double dip in the US and that while we may be below trend growth a bit for the next two years, the US is not facing credit crisis like the EU and won't be for several years. Actually sounded very bullish on US going forward.
Before responding to the virtually ubiquitous ZH poster "HarryWanger", please be aware of just whom and what you are dealing with in this person:
http://www.minyanville.com/businessmarkets/articles/AAPL-apple-gm-psycho...
His real name is James Kostorhyz, and he is here posing as a troll in dishonesty and in disregard for the fundamental purposes of this forum. He is NOT posting here in good faith, but is purposely antagonizing those with independent, anti-establishment views and opinions for his own selfish and cynical purposes, as part of a study on "the psychology of permabears".
He believes that anyone who opposes the current widespread fraud, corruption and rampant lies within our societies and governments are "utopian" and unrealistic, pollyannish dreamers.
And for those ZeroHedgers who are advocates of sound money backed by gold, this bankster shill is already out there with one of the most disingenuous, dishonest pieces of pro-establishment propaganda on the topic, expounding on how such financial integrity is "impossible", and merely "the rants of an ideological fringe":
http://finance.yahoo.com/news/The-Gold-Standard-Solid-as-minyanville-285...
Please do NOT respond to this reprehensible troll, here or anywhere else on ZeroHedge. He is NOT here in good faith, and should be shunned!
Roubini is indeed very bullish on the US: http://bit.ly/5Dnq3V
My one dream in life would be to see Tyler on the panel.
Alas, i fear that the danger that ZH presents to the world at large, means my dream may go unfulfilled (perhaps i will apply to the make a wish foundation for dorks).
Lizzy I too dream of a foundation for Dorks.
"Lizzy I too dream of a foundation for Dorks."
If you put a chilli bowl on your head...
and cut your own hair with it... then you could be Bill Gates and you would have a foundation of jerks of your very own...
Well Gates would be a dork or nerd but he never came up with an idea on his own... except using his daddy's money to buy or steal other people's ideas...
Speech over...
that's not a video, that's a picture of a video
If you double click it you can get to the site and the video is there.
MIlken's main man Michael Gross is at the center of the current collapse.
http://www.deepcapture.com/goldman-sachs-john-paulson-and-the-hedge-fund...
I want to see Tyler, Denninger, Mish, Ritholz, and McBride discussing the blogging community vs. the mainstream Financial "media" and how it has betrayed investors and the integrity of the financial system.
Unfortunately, getting all those people together in the same room is just begging for a "terrorist attack" by some "disgruntled housing bull" who was of course acting on his own.
LOL, could I have a shot at 'em? More "beeps" than in the GS testimony if I get involved.
Milken is a naked short terrorist.
I am interested in what they had to say about ZH because it is a pretty unique phenomenon.
Could you specify the minute mark where ZH comes up? The first few minutes were rough going...
Set-up for ZH discussion ~13:00
Heidi Moore ~ 13:30
Felix Salmon ~ 17:10
Thanks to you and others.
Did seem that they are threatened a bit by originality, as opposed to the "real" journalistic role of fact checking and condensation to boilerplate.
Don't think they get the event of ZH. You have just a mass of people hashing shit out in fight club. It's beyond their comprehension that everyone isn't stupid and needs spoon-feeding.
That chick talking smack about Tyler is a c***. (How's that for group think?)
OOOHHH! The "C" word.
Pan-the-ist goes NUCLEAR!
I have seen chicks SNAP (Euphemism for a "Violent Psychotic Episode") over the C word...
Theses episodes are usually triggered when the C word is preceded by "You stupid f@#kin' C..." Sometimes by boyfriends at parties, sometimes by other females... Always exciting!
lolc*nt
heh, TD got trashed and praised right tough.
TD is Russian accented. And all the panelists know his name.
45 to 49 has some good ZH commentary. was early commentary also, but i didn't see timestamps.
Also some commentary on ZH starting around 13:00
These guys behave as if they are the new establishment.
That went quick, eh? Listening to them made me feel a bit ashamed. These guys are disintermediaries and provide nothing new.
For one I am proud ZH was not among them.
Carry on.
What a sorry looking lot.
Let's higher a goth looking stripper to walk in with a cigarette and say:
"This is cancer...right?"
Priceless
"Make shit up" followed rapidly by Tod Harrison schooling Felix, for being, uh.. a dumb shit!
lulz... that was my favorite part too
These people are smooth with a good understanding of primate dynamics and social grooming , not one rough edge between them.
In a wilderness setting they would probably spend half their day picking nits from each other and reinforcing the bonding mechanism.
God I miss the hard drinking politically incorrect journalists of the 70s who had a life experience outside the bubble they inhabit
http://www.slate.com/id/2073766/landing/1
You must be joking, his words are poison.
Anybody who uses moral arguments for war is either a fool or a liar and Hitchens is no fool.
This chickenhamk is not unlike other neoconservatives - he was a trotskyist and a agitator who uses his craft to turn naive conservative foot soldiers who really have no idea what conservatism means.
I enjoy his arguments against religion but he loses me on his stupid ass foreign policy.
His attacks on the Catholic church are predictable - no rational person disputes that the Catholic Church was the first deviant international cooperation but they have limited power now.
Who are the journalists (zero hedge excepted) investigating the organisations which developed after the reformation matured.
You will be waiting a long time before Hitchens writes a critical argument about the BIS and its inbred cousins.
"Who are the journalists (zero hedge excepted) investigating the organisations which developed after the reformation matured"
that was beautiful
I agree. Unfortunately, many Atheists identify with him.
What a bunch of tools. All four of them are mediocre and will continue to be mediocre for the rest of their mediocre careers until they start taking some risks.
Oh, but taking risks is scary if you use your real name!
Exactly.
Exactly why do I need to waste 74 minutes of my limited lifespan watching four knuckleheads trying to dispell the myth that they are more evolved than fly spec.
Here I am dancing on the edge of the event horizon and I'm condemned to share my imminent doom with these insignificant morons trying to build street cred by name dropping Zero Hedge.
"Name dropping Zero Hedge."
Perfect line PE. Line of the day infact....
The room lit up when it happened too. Closeted Zerohedgers, the lot of them....
I send ZH $100 every time I can spare it. I do not send money to the folks on stage. People on stages are actors, not reporters.
Have these guys ever met a godamn thing they didn't think they could counterfeit.
You know they're all reading these comments. Hi there, financially confused about just what you are and supposedly do, people!
I'm one of the rube commentators and quite damn proud of it. The other rubes here have taught me more about finance than any of your giants of financial media journalism have, and even when I have questions I can get them answered by other people here who like to share knowledge.
The word you are still not comprehending correctly, folks on the panel, is disintermediation. Once you can wrap your heads around the fact that you're no longer needed for the truly smart people here (unlike myself, as I've admitted), you'll sleep better. Don't worry, though - plenty of other middlemen are set to go down sooner rather than later, and you can all hang out together and talk some more about the good old days. It will be grand!
Mr. Carney, I do have a newfound level of respect for you, sir. I saw you checking out Ms. Ishmael, that's why... :-)
Regards,
Lothar
i am listening to this video, only because i read felix's blog. he would bring up zero hedge on his blog particularly in august 09. his commenter's definitely went with ZH and called him an idiot. the hill, i don't get that. do they know what they are talking about? Big Money (Slate) is a preppy d.c. joke. carney is kinda floundering in his career, right now. be skeptical, be very skeptical, thanks that is pretty insightful. i don't admire this panel much, hypocritical at best. accents, is all they got.
Milken has an Institute? scary.
In that year, Los Angeles-based Drexel Burnham Lambert, the fifth largest investment bank at the time, collapsed following the conviction of its leading investment banker, Michael Milken.
hell, michael milken, was embroiled with boyd jefferies and ivan boesky. they were notorious white collar criminals. how does he get an institute and accommodate panels with these clueless bloggers, that has the audience listening to them? i knew boyd, his sentencing of the crime was to do community service, setting up aspen junior golf's $500,000. program. i volunteered coached and played with jefferies.
this country is a mockery.
ZH when your ready, your going to make a killing when you write your book. your killing them softly right now, though.
What's Carney drinking? Is he sober or just insane?
Thank-you Heidi.
Are we to believe that ZH is dangerous? Are we to believe that 1/2 of what ZH writes is crap? Are we to believe that the 'letter to the editor types' who comment on blogs such as ZH are the people who influence the content? Are we to believe that Tyler is a former stock analyst gone bad who is now trying to do right by the world? Who gives a shit?!
Zero Hedge has accomplished a great deal as a 'start up' blog. ZH covers the topics that die at the editorial desks of the Wall Street Journal and Washington Post. ZH fills the investigative journalism void which has developed within the world of corporate owned media. ZH is not my only source of daily information in the world of economics but is the FIRST place I go to.
In case nobody noticed, Tyler doesn't tell people what to think he merely gives us really interesting (and often controversial) information to think about. Does anyone appreciate how rare this is? Take a look at the news headline ticker on Bloomberg if you don't believe me...
Who reads ZH? My guess is that the audience is somewhat divided between wall street professionals and people like me who don't work in the world of finance but want to learn about it. In defense of the people who read ZH it is safe to say that we are able to decide what is great content vs. what may be considered 'crap'. That is the beauty of the ZH phonomena...the ability to trust in people to think for themselves. What a novel idea!
Wow, what a waste of time these people are.
It offended me to hear them pontificate on what blogging is when their concept of blogging is really just fast MSM. To them, blogging is just the MSM 'in real time'.
They do not understand that as a blog writer you live and die by the quality of your writing and the originality of your insight. This is why names are irrelevant.
They do not understand that as a blog reader you are only as good as your reading.
If you can't tell the difference between MSM tripe and original thought then you might as well be watching CNBC or reading one of the 4 know-nothing-know-it-alls on Milken's panel.
Before responding to the virtually omnipresent ZH poster "Harry Wanger", please be aware of just whom and what you are dealing with in this person:
http://www.minyanville.com/businessmarkets/articles/AAPL-apple-gm-psycho...
His real name is James Kostorhyz, and he is here posing as a troll in dishonesty and in disregard for the fundamental purposes of this forum. He is NOT posting here in good faith, but is purposely antagonizing those with independent, anti-establishment views and opinions for his own selfish and cynical purposes, as part of a study on "the psychology of permabears".
Please do NOT respond to this reprehensible troll, here or anywhere else on ZeroHedge. He is NOT here in good faith, and should be shunned!
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He is a fat troll, I don't mind trolls generally, but this one is too obvious.
Can tell you from my "uneducated" perspective that these journalists have done next to nothing to reach out and grab the attention of someone with my limited grasp of such matters with any relevant knowledge which is truly thought provoking and "out of the box".
They sound to be lacking any real substance in their words, just a lot of flapjaw and concern for their job security.
If ZH is such crap, why are you all so busy talking about it?
Take notes and get a clue, the world is moving on without your "new generation" of journalism. The new generation is right in front of you.
amem jdrose, your not unlimited. at least you threw in a rose. thanks
Ill second that. Leaders of the new school.
http://www.youtube.com/watch?v=d_Lw72JggSE
Jealosy.
Heidi Moore, you changed a stock price by 13%.
Need I say more?!
Jealous much?!?!
bABABHAHAH!
Yes, The Hills....ahahahaha! ahhhh......
Oh, and how about "Who knows about ZH?"
1...2....3....4....5....everybody...everybody was looking around, seeing who would raise their hands.
ALL YOU "JOURNALISTS" READ THIS BECAUSE IT IS ALL THERE IS!!!!
Hello you self righteous "ivy league", (self proclaimed) stock price manipulating, driveling, mindless drones! I bet Moore has her's on vibrate right now going, "What did you think of that, ZH? You like how I give it to you?" Hey Moore! In your wet dreams!!! You blue pill pushing, Yale propping, money chasing, slow walking, donut eating, IDIOT! You, Moore, were probably too busy reading the Cougerlife ads to notice the news!
And she gave TD credit for giving Taibbi the GS story...unbelievable. They forgot to teach Aristotelian logic at the "Ivy" schools, huh? HUH! Ahahaha!
We are like Voltron. We all connect and TD is the head.
You know why you can't touch ZH...cuz we're better, first of all. Because we have no fear. We have the skill to match our courage.
Tyler, as played by Mos Def:
http://www.youtube.com/watch?v=-qOQkSmdyZk
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lennon, how come i don't get anything, now a days?
MnM.........he stayed in detroit. respect that.
first rule of fight club is?
second rule?
even after over 10 yrs, some peeps just. don't. get. it.
que sera sera
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