Matt Taibbifilter: Among other things, the GAO report noted that the entire OTS had only one insurance specialist on staff — and this despite the fact that it was the primary regulator for the world's largest insurer! This week's MeFi stories
have generally failed to explain the reasoning that caused the recession, even though Jon Stewart
was basically on the mark. Now, Rolling Stone
's only reporter lays it all out The Big Takeover
, a typical combination of zealous snark and the overlooked, damning facts needed to clear up a ridiculously complicated story.
posted by shii
on Mar 20, 2009 -
House Financial Services Committee Chairman Barney Frank
gave a bank, whose capital ratio equaled only 1.88% of assets at the bank, versus a desired level of about 6%, TARP money after heavy lobbying. Frank inserted into the bill a provision to give special consideration to banks that had less than $1 billion of assets, had been well-capitalized as of June 30, served low- and moderate-income areas, and had taken a capital hit in the federal seizure of Fannie Mae and Freddie Mac. (WSJ link) [more inside]
posted by SeizeTheDay
on Jan 22, 2009 -
In these difficult economic times, what's a museum to do? Is an art collection a financial asset or a trust to be held in perpetuity? These questions are being raised by The National Academy
in New York's recent sale (or "deaccessioning" in museum lingo) of two important paintings for $15 million to shore up its finances, first reported by Lee Rosenbaum's ArtsJournal blog.
The museum's director told The New York Times
that it was the only way for the 183-year-old academy, which runs a chronic operating deficit, to survive. The Association of Art Museum Directors censured the Academy
and called on its members to suspend any loans of art to the institution. New York lawyer Donn Zaretzky's ArtLaw Blog has
become ground zero for a fascinating debate involving art critics, museum directors, financial bloggers and others.
posted by up in the old hotel
on Jan 7, 2009 -
Every year the Strategy Team at Saxo Bank
, a Danish virtual bank
, publishes a list of ten black swan class market events. Some of the more dramatic possibilities Saxo advance for 2009: crude trading down to $25 a barrel causing severe social unrest in Iran, the S&P 500 falling to 500, Chinese GDP approaching zero and several member states dropping the Euro. The complete 2009 list is here
and for completeness their 2008
[ .pdf ] , 2007
[ .pdf ] and 2006
lists [ .pdf ] are also available. [more inside]
posted by Mutant
on Jan 7, 2009 -
"Modern Christmas is like primitive Keynesianism, a short-run-oriented economic experiment that has been tried and found wanting." Economist James S. Henry weighs in
on "Why the Grinch has it right."
posted by nasreddin
on Dec 24, 2008 -
People with a keen strategic sense maintain a well-diversified hoard of coins and painstakingly build alliances with local shopkeepers or bank tellers, conspicuously proffering coins for one purchase or deposit in the hopes of being indulged when they're short of change at some point in the future. Argentina's coinage problem
. [more inside]
posted by cortex
on Dec 3, 2008 -
Wall Street Lays Another Egg.
"Not so long ago, the dollar stood for a sum of gold, and bankers knew the people they lent to. The author
charts the emergence of an abstract, even absurd world—call it Planet Finance—where mathematical models ignored both history and human nature, and value had no meaning."
posted by homunculus
on Nov 7, 2008 -
"The Vital Triangle: China, the United States, and the Middle East"- seeking to understand the effects of the China-Middle East relationship on the United States, the U.S. Middle East relationship on China, and the Sino-American relationship on the Middle East.
Book excerpts (Chapter 1
) (Chapter 3
with Jon Alterman, co-author. Via the very useful SUSRIS
posted by Burhanistan
on Oct 20, 2008 -
Retiring hedge fund manager Andrew Lahde
: "All of this behavior supporting the Aristocracy, only ended up making it easier for me to find people stupid enough to take the other side of my trades. God bless America.
posted by finite
on Oct 17, 2008 -