- Joe Cassano is going down... as soon as the FBI finds a parking spot on Oxford Street (ABCNews)
- Cerberus to satisfy mounting hedge fund redemptions with shares in illiquid SPV (Bloomberg)
- Life insurance companies' fate tied to stocks (WSJ)
- Macquarie troubles escalating, cash bonuses not so much (Bloomberg)
- OECD sees 10% unemployment in developed countries "without exception"; time to revise the budget deficit yet? (FT)
- Food for thought for bottom hunters... hopefully not the Haines' version of (Infectious Greed)
- Russia wants higher prices but won't join OPEC...yet (WSJ)
- The latest entrant to the 5 year past due VC party is... Google (WSJ)
- Some more bad news on the Social Security ponzi (Bloomberg)
- GMAC and CIT pray to get access to depositor-diluting TLGP (FT)
- Humor: Freudian printing slip (Earth Times)
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5 comments:
You didn't think the Social Security Surplus theft story was important?
That gave me a much needed chuckle. Thanks.
TD
http://www.occ.gov/ftp/release/2009-34a.pdf
you probably already have this but figured I would send it over in case you don't....
One comment about it said GS is leveraged 1000:1?
Will be interested in your analysis on this (let me know if you already did cover this)....
Thanks for the great work you do on this blog....I continue to believe it's the premier economy and finance blog in existence.
Maximus
http://4best4worst.wordpress.com/
Tyler,
Word on the street is that, in 2007 while at DE Shaw, Larry Summers travelled to Asia marketing ABS to sovereign wealth funds and banks. And continued to market these investments after the collapse of a Bear Stearns hedge fund investing in them.
If true, Larry seems to have a conflict of interest in pumping up the prices of ABS.
so wait a minute...google is "past due" on the VC boom? isn't that a good thing given that VC is now in the toilet? why wouldn't they want to join the fray...buy on the cheap...contrarian...etc?
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