Bear Stearns

The Great Disconnect: Markets Vs. Economy

"While the Fed keeps promising with each passing year the economy will come roaring back to life, the reality has been that all the stimulus and financial support can’t put the broken financial transmission system back together again. Eventually, the current disconnect between the economy and the markets will merge. My bet is that such a convergence is not likely to be a pleasant one."

The Secret History Of The Banking Crisis

"Accounts of the financial crisis leave out the story of the secretive deals between banks that kept the show on the road. How long can the system be propped up for?"

Axiom: "Red Flags" Suggest China Credit Event Is "Closer Than It Appears"

The more recent red flags are among the most profound we’ve seen in years – in short, we agree with fresh observations made by some of the world’s most famous iron ore bears. Thus, while it is nearly impossible to pinpoint exactly when the credit bubble will definitively pop in China, a number of recent events, in our view, suggest the threat level is currently at red/severe

The World's Worst Market-Timer

Whatever you do, make sure you keep in mind that the world’s worst market timer (the government) just cried “Uncle.” The proper trade is to assume they will make a mess. A big one.

Gary Cohn Backs Reinstating Glass-Steagal, Breaking Up Big Banks

The former Goldman Sachs Group Inc. executive who is the top White House economic adviser told lawmakers he could support legislation breaking up the largest U.S. banks, according to people familiar with the matter, a development that bolsters congressional efforts to reinstate the Depression-era Glass-Steagall law.

Steve 'Big Short' Eisman: Smart, Lucky, Abrasive (& Now One Of Them)

"In the movie he was portrayed as the moral compass. After hearing his praise for the awesome job Paulson did by saving the criminal Wall Street banks with taxpayer money, I think the justice and righteousness stuff is overdone. Earlier in his talk he said banks existed to “fuck you” – his exact words. Then later he says we had to save them or the world would have ended."