Simon Johnson

Weekend Reading

  • All you ever wanted to know about Paolo Pellegrini, and didn't realize you should ask (Bloomberg)
  • Nakagawa, Japan's former finance minister, who resigned after drunk incident at G7, found dead (FT)
  • Simon Johnson: A short question for senior officials of the New York Fed (Baseline Scenario, h/t Pete)
  • Is the mortgage REIT IPO/follow on bubble finally over? (Bloomberg)
  • Roubini says stocks have risen "too much, too soon, too fast" (Bloomberg and RGE)
  • Stiglitz deflation threat pushes Fed to stay at zero (Bloomberg)
  • From Black Scholes to Black Holes (Dharma Joint)

Frontrunning: October 2

  • Everyone buying HFT platforms: chip sales rise 5% in August (WSJ)
  • Geithner says "Strong dollar is very important" to US (Bloomberg) too bad he is lying
  • IMF chief renews call for currency reform (FT)
  • Banks with 20% unpaid loans at 18 year high amid recovery doubt (Bloomberg)
  • Glorious is fifth flop in Hong Kong IPO "Massacre" (Bloomberg)
  • Wall Street wizardry reworks mortgages (WSJ, h/t Geoffrey)
  • For sale, cheap: "Old GM" peddles a bankrupt empire's remains (WSJ)
J.D. Swampfox's picture

"… excess savings flowing in from Asia and the reckless lowering of interest rates by the Federal Reserve Board; the relation between executive compensation, short-term profit goals, and risky lending; the housing bubble fueled by low interest rates, aggressive mortgage marketing, and loose regulations; the low savings rate of American people; and the highly leveraged balance sheets of large financial institutions." - Richard Posner

Leo Kolivakis's picture

Fired Up? Ready to Go?

A year after Lehman collapsed, what have they learned on Wall Street? Absolutely nothing. That's pretty much what I see on Wall Street and at the large "sophisticated" Canadian public pension funds. Behind the rhetoric, it's business as usual. Who needs risk management when the markets are on fire and you're looking to shoot the lights out?

Weekend Reading

  • Must read: Fast-on-the-draw trades need spot of marshalling (FT, h/t Joe)
  • Roubini Op-Ed on Bernanke: The Great Preventer (NYT)
  • Lennar signals fleeting buildling rally as buyers flee (Bloomberg)
  • JP Morgan to raise banker salaries (FT)
  • The man spreading false rumors about Harman and Textron takeovers (that fooled fast-money's Najarian) found dead in suicide (Bloomberg)
  • Chinese steel executive beaten to death,  (FT)

Insolvency Mystery Science Theater 3000

Tomorrow at 10am, a hearing will be held on the critical matter of financial insolvency by, none other, than the.... Committee on Science And Technology (Scientology?). Yep. If there was ever any wonder if the right people are asking the right question in Washington, this should forever put away any doubts and speculations.

Frontrunning: April 24

  • Morgan Stanley considers spinning off trading desk, including PDT/quant group (WSJ)
  • Jonathan Weil: Wall Street's 1923 scams return in Geithner plan (Bloomberg)