Posts Tagged ‘Wall Street’
Harry Markopolos’s unfinished Madoff business
Friday, March 12th, 2010
Madoff hunter Harry Markopolos talks with David Weidner about how the SEC has fared since the Ponzi scheme was uncovered, and about what kind of regulatory role he would accept in Washington.
Source: The Wall Street Journal, March 10, 2010.
Tags: David Weidner, Harry David, Harry Markopolos, Madoff, Ponzi Scheme, Regulatory Role, Wall Street, Wall Street Journal, Washington Source
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Matt Taibbi: Wall Street’s Bailout Hustle - “The best 18 months of grifting this country has ever seen”
Thursday, February 18th, 2010
Rolling Stone Mag’s Matt Taibbi strikes Again, in Wall Street’s Bailout Hustle.
On January 21st, Lloyd Blankfein left a peculiar voicemail message on the work phones of his employees at Goldman Sachs. Fast becoming America’s pre-eminent Marvel Comics supervillain, the CEO used the call to deploy his secret weapon: a pair of giant, nuclear-powered testicles. In his message, Blankfein addressed his plan to pay out gigantic year-end bonuses amid widespread controversy over Goldman’s role in precipitating the global financial crisis.
The bank had already set aside a tidy $16.2 billion for salaries and bonuses — meaning that Goldman employees were each set to take home an average of $498,246, a number roughly commensurate with what they received during the bubble years. Still, the troops were worried: There were rumors that Dr. Ballsachs, bowing to political pressure, might be forced to scale the number back. After all, the country was broke, 14.8 million Americans were stranded on the unemployment line, and Barack Obama and the Democrats were trying to recover the populist high ground after their bitch-whipping in Massachusetts by calling for a “bailout tax” on banks. Maybe this wasn’t the right time for Goldman to be throwing its annual Roman bonus orgy. …
Source: Matt Taibbi, Rolling Stone Magazine, Feburary 17, 2010
Tags: Bailout, Barack Obama, Controversy, Global Financial Crisis, Goldman Sachs, Lloyd Blankfein, Marvel Comics Supervillain, Matt Taibbi, Orgy, Right Time, Rolling Stone Magazine, Salaries, Secret Weapon, Stone Mag, Testicles, Unemployment Line, Voicemail Message, Wall Street, Work Phones, Year End
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Wealthtrack – The intersection of stocks, politics and energy
Sunday, January 31st, 2010
This week on Consuelo Mack’s Wealthtrack: the intersection of stocks, politics and energy and what they mean for your portfolio. Consuelo sits down with Wall Street’s number one Washington analyst, ISI Group’s Tom Gallagher; five-star FPA Crescent Fund manager, Steve Romick; and Weeden & Co.’s legendary energy analyst, Charles Maxwell.
This is excellent viewing material. Click play to watch:
Note: The transcript of this interview is not available yet, but will be posted here as soon as it arrives.
Source: Wealthtrack, January 28, 2010.
Tags: Amp, Charles Maxwell, Consuelo Mack, Energy Analyst, Five Star, Fpa Crescent Fund, Intersection, Isi Group, Politics, Portfolio, Stocks, Tom Gallagher, Wall Street, Weeden
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Money Never Sleeps
Friday, January 29th, 2010
This is the trailer for Wall Street 2 : Money Never Sleeps.
Tags: Money, Wall Street
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Q&A with Paul Volcker
Wednesday, January 27th, 2010
With the “Volcker Rule” regarding US financial regulation taking center stage, Paul Volcker’s response to questions on financial innovation at the “Future of Finance Initiative” six weeks ago makes for interesting viewing material.
Source: Wall Street Journal, January 26, 2010.
Tags: Center Stage, Finance Initiative, Financial Innovation, Material Source, Paul Volcker, Six Weeks, Taking Center Stage, Wall Street, Wall Street Journal
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Howard Marks: Investing for Inflation (January 2010)
Monday, January 25th, 2010
Howard Marks, founder of California based Oaktree Capital, manager of $67-billion in fixed income funds, has just released his latest letter to investors, provides his in-depth case for inflation and how to invest for it. Marks’ letters have a strong following on Wall Street, and he is considered a bond market genius. You can full-page the document in your browser from the slidedeck below, and if you like you may download the letter here.
Read Howard Marks complete newsletter in the slidedeck below:
Tags: Bond Market, Capital Manager, Fixed Income, Genius, Income Funds, inflation, Investing, Investors, Newsletter, Oaktree Capital, Wall Street
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WSJ: Economists cautious in 2010
Monday, January 18th, 2010
WSJ’s Phil Izzo parses the latest findings from The Wall Street Journal’s monthly survey of leading economists, discussing what it says about the recovery and the growth outlook for 2010.
Source: Phil Izzo, Wall Street Journal, January 14, 2010.
Tags: Advertisement, Economists, Growth Outlook, Izzo, Survey, Wall Street, Wall Street Journal, Wsj
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Why there’s still time to bet against the dollar
Friday, January 15th, 2010
It seems the world is in the midst of a love-hate relationship with the dollar. Dow Jones Newswires reporter Shelly Banjo speaks with Jonathan Lewis, principal of Samson Capital Advisors, about the ups and downs of the greenback and Lewis’ outlook for 2010.
Source: The Wall Street Journal, January 14, 2010.
Tags: Banjo, Bet, Dollar, Dow Jones, Dow Jones Newswires, Greenback, Jonathan, Jonathan Lewis, Love, Midst, Relationship, Samson Capital Advisors, Shelly, Ups, Ups And Downs, Wall Street, Wall Street Journal
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The Case Against Tim Geithner
Thursday, January 14th, 2010
As we sit here today, Wall Street continues to exploit a policy of government-sponsored giveaways and secrecy to pay themselves billions.
Record-setting bonuses due to banks like Goldman Sachs as early next week.
Yet instead of acting as our cop, Secretary Tim Geithner has become central to what may be a cover-up of the greatest theft in U.S. history.
Here is the evidence.
Source: The Case Against Tim Geithner, by Dylan Ratigan, The Business Insider
http://www.businessinsider.com/dylan-ratigan-the-case-against-tim-geithner-2010-1
Tags: Acting, Banks, Billions, Business Insider, Cop, Dylan Ratigan, Giveaways, Gold, Goldman Sachs, Government Giveaways, Secrecy, Sit, Tim Geithner, Wall Street
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Ed Hyman and Francois Trahan: Outlook/Forecast 2010
Thursday, January 7th, 2010
The transcript of Consuelo Mack’s recent interview with Ed Hyman, Wall Street’s number one ranked economist for an unprecedented thirty years running, and Francois Trahan, top ranked portfolio strategist, has just been published. Click here for the text. This is must-read material.
In case you missed the video clip, click here for the original post.
Tags: Consuelo Mack, Economist, Ed Hyman, Francois Trahan, Outlook, Portfolio Strategist, Running, Thirty Years, Video Clip, Wall Street
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Ed Hyman & Francois Trahan – forecasts for 2010 (WealthTrack)
Sunday, December 20th, 2009
This week Consuelo Mack is joined on WealthTrack by two investment champions from independent research firm, ISI Group. Ed Hyman, Wall Street’s number one ranked economist for an unprecedented thirty years running, and top ranked portfolio strategist, Francois Trahan, share their 2010 forecasts.
ISI believes the economy is going to surprise on the upside next year. Hyman tells us why, where and how much. Trahan hit the bull’s-eye with his forecasts of a very strong and enduring rally this year. He has much more modest expectations for 2010 and shares his predictions and strategy to make money regardless.
Note: The transcript of this interview is not available yet, but will be posted here as soon as it arrives.
Source: Wealthtrack, December 18, 2009.
Tags: Advertisement, Economist, Economy, Ed Hyman, Francois Trahan, Independent Research Firm, Investment, Investment Firm, Investment Research, Isi Group, Mack, Money, Portfolio Strategist, Rally, Shares, Thirty Years, Wall Street, Wealthtrack
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Ian Shepherdson: Deleveraging will be painful
Thursday, December 3rd, 2009
Ian Shepherdson, of High Frequency Economics, says that deleveraging the US economy will be rather onerous and take quite some time to accomplish. Bad assets on personal and institutional balance sheets are like a ball and chain on the economy’s ankles. The Fed is not likely to touch interest rates until 2011, he estimates, writes New York Times columnist, Gretchen Morgensen.
The fallout from deleveraging has put small businesses in jeopardy. This is a revealing look at what continues to be a largely untold story, because Wall Street tends to focus on large companies. In the shadows of the economy, small businesses, important engines of growth, are suffering from the chokehold on bank credit which places them “squarely on the brink.”
The message amid this gloom, he says, is that the Fed isn’t likely to raise interest rates anytime soon. In fact, he doesn’t anticipate an increase in rates until the spring of 2011.
“I WOULD be astonished if they raised rates in the heart of the credit contraction storm,” Mr. Shepherdson says. “The credit contraction will last for a couple of years and if the Fed is interested in offsetting it, they will have to buy assets through next year.”
Deflating an asset bubble is never fun, and this particular specimen is one for the record books. The binge may have been a blast, but the purge, alas, sure is painful.
This is without doubt a deflationary outlook for the economy, from Shepherdson, an economist whose forecasts have been right more than wrong. He calls for 2% GDP growth through next year, roughly half of the market’s expectation of 4-5%.
Get Ready for Half a Recovery, New York Times, November 28, 2009.
Tags: Ankles, Balance Sheets, Binge, Brink, Contraction, Economist, Fallout, GDP Growth, Gloom, Gretchen, High Frequency Economics, Ian Shepherdson, interest rates, Jeopardy, New York Times, New York Times Columnist, Purge, Quite Some Time, Record Books, Small Businesses, Specimen, Untold Story, Wall Street, York Times Columnist
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