413 posts tagged with finance.
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Indirect fusion's nothing less than HiiiPoWeR

Installed solar capacity is growing by leaps and bounds, led by Walmart and Apple, and helped by bonds backed by solar power payments,[*] which have sent industry stocks soaring, even as molten salt and new battery technologies come on line to generate storage for use when the sun doesn't shine. Of course we could always go to geostationary orbit -- or the moon -- as well we may (if politics allow it) as thirst from the developing world grows beyond the earth's carrying capacity. [more inside]
posted by kliuless on Nov 30, 2013 - 41 comments

America's New Masters

This shift in how companies are governed and raise money is bringing with it a structural change in American capitalism. That should be a matter of great debate. Are these new businesses, with their ability to circumvent rules that apply to conventional public companies, merely adroit exploiters of loopholes for the benefit of a plutocratic few? Or do they reflect the adaptability on which America’s vitality has always been based? - Rise of the distorporation - how changes in the way companies are financed and managed is changing the wealth distribution of America.
posted by Artw on Nov 2, 2013 - 23 comments

Millions of people follow his biblically inspired advice.

The Prophet: Meet Dave Ramsey, the most important personal finance guru in America. There's probably no better way to learn about the financial lives of individual Americans than to spend a few hours listening to The Dave Ramsey Show, which airs in every major media market in the United States...Listen long enough and you realize you are hearing the raw, unfiltered tragedy of the economic plagues facing 21st-century America. [via]
posted by mediareport on Nov 1, 2013 - 86 comments

Too big to ...?

Matt Levine writes in the Wall Street Journal: Morgan Stanley Now Obeying Rules, Reducing Risks, Eating Cupcakes
So while of course it's possible that this is just next-level perception manipulation and I've fallen for it -- that Morgan Stanley has found a novel way to take on immense amounts of complex risk and hide it behind an army of retail brokers and a layer of cream-cheese frosting -- I think that this story is what it appears to be. Morgan Stanley seems to be de-risking by cutting back on risky activities, and responding to new regulations by obeying them.
On the New Wall Street, Boring Is Better [more inside]
posted by the man of twists and turns on Oct 21, 2013 - 27 comments

High frequency networking

In New York, there are at least six data centers you need to collocate in to be competitive in equities. An in-depth look at the insanity behind modern high-frequency trading, where the speed of light is the only limit.
posted by bitmage on Oct 18, 2013 - 63 comments

Eugene Fama: "I was getting kind of tired of French..."

"... and so I took an economics course and I loved it," during a phone interview in the early morning today. Likewise, conversations with Robert Shiller and Lars Peter Hansen, shortly after the 2013 Sveriges Riksbank Prize in Economic Sciences was awarded jointly to them for their academic contributions to the field of asset pricing. UChicago News, Yale News, New York Times, Wall Street Journal, Washington Post, and Bloomberg report. [more inside]
posted by ilicet on Oct 14, 2013 - 23 comments

Game behind gamed: your narrative programming for the day

How The Economic Machine Works by Ray Dalio[1] actually makes a case against austerity[2] and for redistribution, but also for money printing (and, arguably, for bailouts), while stressing the need to keep making productivity-improving public and private investments. However, it could be equally entitled: How The Industrial Age Political-Economy Doesn't Work Anymore, viz. Surviving Progress (2011)... [more inside]
posted by kliuless on Sep 25, 2013 - 28 comments

Giant Bomb

PayPal locked down the developer’s account, and said it could only have 50% of the funds. The rest would be released as development continued, based on PayPal’s assessment of the situation. PayPal was, essentially, going to become a producer going forward. Crowdfunding's Secret Enemy is PayPal
posted by East Manitoba Regional Junior Kabaddi Champion '94 on Sep 20, 2013 - 73 comments

all the financial advice you’ll ever need

...pretty much everything you need to know [on personal finance] on a 4x6 index card.
posted by latkes on Sep 16, 2013 - 119 comments

The Man Who Sold the Bonds

There have been a few misconceptions about the Bowie securitizations over the years. I’ll try to describe, in relatively plain English, what happened.
posted by rollick on Sep 6, 2013 - 21 comments

Man creates own credit card, sues bank for not respecting its terms

Banks usually reserve the right to change the rules or rates for credit cards they issue at any time, and the only notice given is buried in a long legal document. Russian Dmitry Argarkov turned this on its head: After he received a junk-mail credit card offer, he modified the document to include terms ridiculously in his favor and sent it back. The bank signed and certified it without looking at it, and sent him a credit card. [more inside]
posted by Sleeper on Aug 10, 2013 - 62 comments

"It's not clear we have that much time."

As Andrew Haldane, director of stability at the Bank of England, put it in a historical overview a few years ago, ‘there is one key difference between the situation today and that in the Middle Ages. Then, the biggest risk to the banks was from the sovereign. Today, perhaps the biggest risk to the sovereign comes from the banks. Causality has reversed.’ Yes, it has: and the sovereign at risk is us. The reason for that is that in the UK bank assets are 492 per cent of GDP. In plain English, our banks are five times bigger than our entire economy. (When the Icelandic and Cypriot banking systems collapsed the respective figures were 880 and 700 per cent.) We know from the events of 2008 and subsequently that the financial sector, indeed the whole world economy, is in an inherently unstable condition. Put the size together with the instability, and we are facing a danger that is no less real for not being on the front page this exact second. This has to be fixed, and it has to be fixed soon, and nothing about fixing it is easy.
- "Let's Consider Kate," John Lanchester, London Review of Books (via)
posted by Rustic Etruscan on Jul 10, 2013 - 29 comments

“Not many antagonize Goldman just for the hell of it,”

The Lonely Redemption Of Sandy Lewis
“The complicity on Wall Street is sickness!” Mr. Lewis says. He fixes you with his laser stare. “If you think the big firms are being honest” — his tone slides streetwise — “well, sweetheart, go think something else!” The temptation is to dismiss Mr. Lewis, 73, as a crank, except he once ruled as an eccentric genius of arbitrage, with a preternatural feel for the tectonic movements of the markets. He has railed for decades about venalities now on daily display. Rude truth is his currency.
[more inside] posted by the man of twists and turns on Jul 9, 2013 - 7 comments

Eat the meat you are Fed: It's good, we guarantee it!

The last mystery of the financial crisis. It's long been suspected that ratings agencies like Moody's and Standard & Poor's helped trigger the meltdown. A new trove of embarrassing documents shows how they did it. by Matt Taibbi in Rolling Stone.
posted by lalochezia on Jun 19, 2013 - 34 comments

"to restructure your debt is to declare yourself similar to …"

Lee Buchheit, fairy godmother to finance ministers in distress
Lee Buchheit, a lawyer at US firm Cleary Gottlieb, has been present at all the major debt crises of the past three decades. His reputation among investors is as a fearsome and aggressive litigator, but finance ministers in distress see him as something of a fairy godmother.
[more inside] posted by the man of twists and turns on May 19, 2013 - 5 comments

Because clearly he does 1,795x the work

Bloomerg compiles a list of the 250 highest CEO-to-employee-pay ratios, estimated based on publicly available information. They also publish any rebuttals issued by those companies.
posted by Freon on May 1, 2013 - 65 comments

Soderbergh on Cinema

The problem is that cinema, as I define it and as something that inspired me, is under assault by the studios and, from what I can tell, with the full support of the audience. The reasons for this, in my opinion, are more economic than philosophical, but when you add an ample amount of fear and lack of vision and a lack of leadership you’ve got a trajectory that is pretty difficult to reverse. - "Retired" director Steven Soderbergh speaks to the San Francisco International Film Festival about the state of cinema - (summary, full audio at bottom of page 2)
posted by Artw on Apr 29, 2013 - 49 comments

The alchemists of Wall Street are at it again.

Wall Street begins playing again with the same matches that burned the economy in 2008 From the New York Times: "The banks that created risky amalgams of mortgages and loans during the boom — the kind that went so wrong during the bust — are busily reviving the same types of investments that many thought were gone for good. Once more, arcane-sounding financial products like collateralized debt obligations are being minted on Wall Street. " (View article on a single page) [more inside]
posted by Sleeper on Apr 20, 2013 - 57 comments

Gold Crash

"Gold's crash this weekend is, as Oprah might say, a teachable moment. Crashes like this are a good way to find out how markets work. It's like a game of financial Clue, a way to keep sharp your skills of deduction. You don't have to be a stock investor or a math whiz to figure it out, either – you just have to have a good grasp of news and human psychology." - the Guardian on this week's crash in gold commodity prices.
posted by Slap*Happy on Apr 18, 2013 - 85 comments

The Finances of a Successful Indie Game

"When we first started working on Dustforce, it was frustrating to not be able to find much data about whether indie game development is a realistic thing to do with your life." Hitbox Team helps remedy that for future designers in this article about the finances and sales of their game, Dustforce.
posted by gilrain on Apr 16, 2013 - 37 comments

The Day Care Dilemma

"Trusting your child with someone else is one of the hardest things that a parent has to do — and in the United States, it’s harder still, because American day care is a mess. About 8.2 million kids—about 40 percent of children under five — spend at least part of their week in the care of somebody other than a parent. Most of them are in centers, although a sizable minority attend home day cares.... In other countries, such services are subsidized and well-regulated. In the United States, despite the fact that work and family life has changed profoundly in recent decades, we lack anything resembling an actual child care system. Excellent day cares are available, of course, if you have the money to pay for them and the luck to secure a spot. But the overall quality is wildly uneven and barely monitored, and at the lower end, it’s Dickensian."
posted by zarq on Apr 15, 2013 - 139 comments

What's The Question About Your Field That You Dread Being Asked?

"Maybe it's a sore point: your field should have an answer (people think you do) but there isn't one yet. Perhaps it's simple to pose but hard to answer. Or it's a question that belies a deep misunderstanding: the best answer is to question the question."
posted by the man of twists and turns on Apr 14, 2013 - 259 comments

Incommensurable values

Economists and the theory of politics - "why unions were often well worth any deadweight cost" [more inside]
posted by kliuless on Mar 25, 2013 - 27 comments

Vincent Browne v the ECB

Tenacious Irish journalist demands an answer at a European Central Bank press conference (SLYT)
posted by moorooka on Mar 15, 2013 - 44 comments

"That lawsuit, believe it or not, is still going on."

Where Banks really Make Money On IPOs
All of these numbers are hypothetical, of course, but the bigger point is simple: if Goldman manages to get kickbacks, in terms of extra commissions, of more than 7% of its clients’ profits, then it has a financial incentive to underprice the IPO. And Goldman’s clients were desperate to give it kickbacks: they didn’t just route their standard trading through Goldman, since that wouldn’t generate enough commissions. Instead, they bought and sold stocks on the same day, at the same price. Capstar Holding, for instance, bought 57,000 shares in Seagram Ltd at $50.13 per share on June 21, 1999 — and then sold them, on the same day, at the same price. Capstar made nothing on the trade, but Goldman made a commission of $5,700. Capstar’s Christopher Rule says that in May 1999, fully 70% of all of his trading activity “was done solely for the purpose of generating commissions”, so that he could continue to keep on getting IPO allocations.
Rigging The IPO Game [more inside]
posted by the man of twists and turns on Mar 11, 2013 - 18 comments

The shocking news that Goldman Sachs is greedy

"Twenty five years ago I quit a job on Wall Street to write a book about Wall Street. Since then, every year or so, UPS has delivered to me a book more or less like my own, written by some Wall Street insider and promising to blow the lid off the place, and reveal its inner workings, and so on. By now, you might think, this game should be over. The reading public would know all it needed to know about Wall Street, and the publishing industry would be forced to look to some other industry for shocking confessions from insiders. Somehow this isn't the case."
posted by vidur on Feb 5, 2013 - 47 comments

The untouchables

Wall Street's leaders have utterly escaped jail. "There have been no arrests of senior Wall Street executives." Frontline examines why the United States federal government didn't go after the financial titans. (via)
posted by doctornemo on Jan 23, 2013 - 159 comments

When admission of liability is a risk.

Credit Rating Agencies and their role after the Crisis
It was the rating agencies that assigned super safe ("triple A") ratings to complex financial instruments. When these blew up, the agencies accepted no responsibility, claiming they had merely been expressing "opinions".
William J Harrington, who was a senior analyst says he has asked people at Moody's why those responsible weren't fired.
"That would be an admission of liability, I was told.
The Wall Street Journal talks about downgrading the agencies.
posted by adamvasco on Jan 22, 2013 - 41 comments

There's a lot of bullshit coming from America

"Of the top 100 Swiss companies, 49 give shareholders a consulting vote on the pay of executives. A few other countries, including the United States and Germany, have introduced advisory "say on pay" votes in response to the anger over inequality and corporate excess that drove the Occupy Wall Street movement. Britain is also planning to implement rules in late 2013 that will give shareholders a binding vote on pay and "exit payments" at least every three years. Minder's initiative goes further, forcing all listed companies to have binding votes on compensation for company managers and directors, and ban golden handshakes and parachutes. It would also ban bonus payments to managers if their companies are taken over, and impose severe penalties — including possible jail sentences and fines — for breaches of these new rules."
posted by vidur on Jan 21, 2013 - 32 comments

Level 2 is more worrisome. Level 3 is hair-raising.

"We decided to go on an adventure through the financial statements of one bank [Wells Fargo], to explore exactly what they do and do not show, and to gauge whether it is possible to make informed judgments about the risks the bank may be carrying. We chose a bank that is thought to be a conservative financial institution, and an exemplar of what a large modern bank should be."
posted by vidur on Jan 14, 2013 - 14 comments

"The original shark, it turns out, rotted."

Gold, Golden, Gilded, Glittering - The Unexpected Double History Of Banking And The Art World
In fact, we have long entrusted the task of representing our ideas of value to members of two professions that might seem to have little in common: banking and art. And, in the last seven hundred years or so, it has happened more than once that visual and financial inventors have come up with strikingly similar representations. There is more than a shadow of resemblance between the purchase of the Hirst skull in 2007 and the mortgage-backed-securities debacle that made of Lehman Brothers in the following year one of the great public pictures of vanitas we’ve had. And, when you look further into these intersections, you often find that what is really at stake is a change in the way we feel and understand time.
[more inside] posted by the man of twists and turns on Jan 7, 2013 - 20 comments

Secret and Lies of the Bailout

Secret and Lies of the Bailout. "The federal rescue of Wall Street didn’t fix the economy – it created a permanent bailout state based on a Ponzi-like confidence scheme. And the worst may be yet to come." [Via]
posted by homunculus on Jan 7, 2013 - 77 comments

2013 real estate and economy predictions

Garth Turner, the former politician and now cranky (but funny and more or less accurate) blogger opines on real estate and the economy for 2013.
posted by anothermug on Dec 31, 2012 - 26 comments


What's Going On In Japan? "Really Japan is quite a remarkable case, since neither fiscal nor monetary policy seems to be working to achieve the anticipated results. This year Japan will have a fiscal deficit of around 10% of GDP and gross government debt will hit 235% of GDP, yet the country is still struggling to find growth. Instead of reiterating old dogmas (whether they come from Keynes or from Hayek) more people should be asking themselves what is happening here. This is not a simple repetition of something which was first time tragedy and is now second time tragedy, it is something new, and could well be a harbinger for more that is to come, elsewhere. Oh, why oh why are economists not more curious?" [more inside]
posted by kliuless on Dec 27, 2012 - 82 comments

"how we learned to stop worrying and embrace the abstraction"

A Brief History Of Money [more inside]
posted by the man of twists and turns on Dec 16, 2012 - 53 comments

People will always love to read.

"HS Dent, an economic forecasting firm, compiled Census data [PDF] on spending behavior and presented them as a series of demand curves... The curves measure average annual expenditure for a given product over the age of the consumer." [more inside]
posted by griphus on Dec 6, 2012 - 38 comments

Betting on the future

The African King With A Multi-Billion Dollar Empire RBH functions as a communitybased investment company whose primary investment aim is to generate the income required for the funding of sustainable projects. Income generated from RBH’s commercial interests is invested in infrastructural development, as well as in the members of the Nation itself. Over the past decade, more than R4 billion ($475 million) has been spent on roads, utilities, schools, clinics and other public amenities. This has benefited not only the Bafokeng, but other people living in the North West Province of South Africa, the area which the RBN calls home.
posted by infini on Dec 1, 2012 - 5 comments

The New York Times - Complaints Aside, Most Face Lower Tax Burden Than in 1980

The New York Times examines how American taxes have changed since 1980
posted by East Manitoba Regional Junior Kabaddi Champion '94 on Nov 30, 2012 - 105 comments

There is no higher education bubble

It's the splashing, not the popping. What if American student debt is just too profitable and secure to admit any systemic reform? An interesting and gloomy argument against the higher education bubble theory. [more inside]
posted by doctornemo on Nov 21, 2012 - 157 comments

Skill-Luck Continuum

"We have little trouble recognizing that a chess grandmaster’s victory over a novice is skill, as well as assuming that Paul the octopus’s ability to predict World Cup games is due to chance. But what about everything else?" [Luck and Skill Untangled: The Science of Success]
posted by vidur on Nov 20, 2012 - 16 comments

The Corporatization Of Higher Education

In 2003, only two colleges charged more than $40,000 a year for tuition, fees, room, and board. Six years later more than two hundred colleges charged that amount. What happened between 2003 and 2009 was the start of the recession. By driving down endowments and giving tax-starved states a reason to cut back their support for higher education, the recession put new pressure on colleges and universities to raise their price. When our current period of slow economic growth will end is anybody’s guess, but even when it does end, colleges and universities will certainly not be rolling back their prices. These days, it is not just the economic climate in which our colleges and universities find themselves that determines what they charge and how they operate; it is their increasing corporatization. If corporatization meant only that colleges and universities were finding ways to be less wasteful, it would be a welcome turn of events. But an altogether different process is going on
[more inside] posted by the man of twists and turns on Nov 14, 2012 - 69 comments

What am I, an idiot? I mean, kind of?

Ask A Banker: What's The Deal With High Frequency Trading? From the planet money NPR team.
posted by garlic on Nov 7, 2012 - 35 comments

How My Danish Friend Paid Off His Debt By Becoming A Gay Prostitute

How My Danish Friend Paid Off His Debt By Becoming A Gay Prostitute
posted by reenum on Oct 31, 2012 - 51 comments

What's wrong and how to fix it.

It’s not as though as a society we have become that much stupider than our forbears; it’s because we have become that much more corrupt.

Adam Garfinkle
discusses American political dysfunction in one, two, three parts.
posted by Shit Parade on Oct 27, 2012 - 13 comments

Why Obama Now

Why Obama Now - from Simpsons/Family Guy animator Lucas Gray [more inside]
posted by East Manitoba Regional Junior Kabaddi Champion '94 on Oct 11, 2012 - 61 comments

Ephemeral New York

Ephemeral New York 'chronicles an ever-changing, constantly reinvented city through photos, newspaper archives, and other scraps and artifacts that have been edged into New York’s collective remainder bin.' [more inside]
posted by zarq on Oct 11, 2012 - 5 comments

The iEconomy

The iEconomy: Apple and Technology Manufacturing. Since January, the New York Times has been running a series of articles "examining the challenges posed by increasingly globalized high-tech industries," with a focus on Apple's business practices. The seventh article in the series was published today: In Technology Wars, Using the Patent as a Sword. Related: For Software, Cracks in the Patent System and Fighters in the Patent War. [more inside]
posted by zarq on Oct 8, 2012 - 16 comments


Kevin Roose of Nymag.com posted about a brand new North Carolinian hedge fund that seemed less than impressive. The fund then started to use a sarcastic quote from Kevin's post as a kind of ringing endorsement on their website. Uh oh.
posted by The Whelk on Oct 6, 2012 - 43 comments

The limit does not exist

The complete guide to America's jobs crisis and the failure of monetary policy using animated gifs
posted by Hypnotic Chick on Sep 11, 2012 - 16 comments


Start Your Own Currency - "In the Catalonia region of Spain, a restaurant and a community garden are part of an experiment in alternative cash--they are accepting a home-grown currency called the Eco as well as the Euro." [viz. gated article (Google link), cf. The Wörgl Experiment]
posted by kliuless on Aug 27, 2012 - 29 comments

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