Top News
Thu May 17
Huffingtonpost [FACEBOOK]
NEW YORK (AP) — Dont try to friend MaLi Arwood on Facebook. You wont find her there. You wont find Thomas Chin, either. Or Kariann Goldschmitt. Or Jake Edelstein. More than 900 million people worldwide check their Facebook accounts at least once a month, but millions more are Facebook holdouts. They say they dont want Facebook. They insist they dont need Facebook. They say theyre living life just fine without the long-forgotten acquaintances that the worlds largest social network sometimes [...]
Thu May 17
How JPMs "Hedge" Blew Up In One Easy Chart
Zerohedge [JP]
It seems every critical-to-stay-relevant talking head and blogger is trying to make sense of, and gain as much airtime discussing, how JPMorgans CIO unit could have been so stupid. The answer is - they werent. As we described first here and here - and has now been accepted by the mainstream media as fact (of course we are flattered by the mimicry) - the reason that the hedge got out of control was the massive amount of delta-hedging that Iksil had to do to manage the position as the Fed and EC [...]
Zerohedge [JP]
It seems every critical-to-stay-relevant talking head and blogger is trying to make sense of, and gain as much airtime discussing, how JPMorgans CIO unit could have been so stupid. The answer is - they werent. As we described first here and here - and has now been accepted by the mainstream media as fact (of course we are flattered by the mimicry) - the reason that the hedge got out of control was the massive amount of delta-hedging that Iksil had to do to manage the position as the Fed and EC [...]
Thu May 17
NEW ECONOMIST COVER: The Greek Run
Clusterstock [GREEK]
The Economist is at it again, this time poking fun at the deposit exodus from Greek banks. (h/t LemaSabachthani) Please follow Money Game on Twitter and Facebook.Join the conversation about this story [...]
Clusterstock [GREEK]
The Economist is at it again, this time poking fun at the deposit exodus from Greek banks. (h/t LemaSabachthani) Please follow Money Game on Twitter and Facebook.Join the conversation about this story [...]
Thu May 17
Match.com For Mergers And Acquisitions: AxialMarket Raises $6.5M From Redpoint Ventures
Clusterstock [MARKET]
AxialMarket has raised $6.5 million in a round led by RedPoint Ventures, according to an SEC filing discovered by BetaBeat. The company confirmed to us that its raised a Series A. AxialMarket is basically Match.com for companies that want to buy each other or do other kinds of deals. The Internet is disrupting most markets but the ones that are hardest to disrupt are the ones that are most based on personal relationships. And yet, thats what AxialMarket wants to do by building an online netwo [...]
Clusterstock [MARKET]
AxialMarket has raised $6.5 million in a round led by RedPoint Ventures, according to an SEC filing discovered by BetaBeat. The company confirmed to us that its raised a Series A. AxialMarket is basically Match.com for companies that want to buy each other or do other kinds of deals. The Internet is disrupting most markets but the ones that are hardest to disrupt are the ones that are most based on personal relationships. And yet, thats what AxialMarket wants to do by building an online netwo [...]
Thu May 17
Greece’s departure from the eurozone could create a domino effect for debt-choked Portugal, Spain and Italy, similar to that caused by the Lehman Brothers
Maxkeisercom [GREECE]
Grexit could have Lehman effect [...]
Maxkeisercom [GREECE]
Grexit could have Lehman effect [...]
Thu May 17
Econlog.econlib.org [DAVID]
The Good Scott Sumner has an excellent post about Krugman and about fiscal policy in Britain and Sweden. To refute the idea that the Swedish economy is doing well (Krugman admits its doing well) even though the Swedish government has cut spending, Krugman singles out one component of government spending--government purchases--and points out that that has risen. Sumner calls him out because government purchases in as extensive a welfare state as Sweden are not a large percent of government spen [...]
Thu May 17
Everyones Buzzing About This Cute Little Girl Who Slams Big Banks For Enslaving The People
Clusterstock [PEOPLE]
Cute little 12-year-old Victoria Grant of Canada slammed her countrys banking system during a lecture at the Public Banking in America Conference in Philadelphia last month. During her speech, she said the banks and the government have "financially enslaved" the people of Canada. Check out the video below. <iframe width="560" height="315" frameborder="0" src=" Please follow Clusterstock on Twitter and Facebook.Join the conversation about this [...]
Clusterstock [PEOPLE]
Cute little 12-year-old Victoria Grant of Canada slammed her countrys banking system during a lecture at the Public Banking in America Conference in Philadelphia last month. During her speech, she said the banks and the government have "financially enslaved" the people of Canada. Check out the video below. <iframe width="560" height="315" frameborder="0" src=" Please follow Clusterstock on Twitter and Facebook.Join the conversation about this [...]
Thu May 17
Huffingtonpost [YEAR]
WASHINGTON, May 17 (Reuters) - U.S. Treasury Secretary Timothy Geithner said on Thursday that raising the debt ceiling did not have to be a crisis, as it was last year when partisan bickering over how to do so brought the United States to the brink of default. Geithner, speaking at an event in Baltimore, Maryland, reiterated that the United States is expected to reach the $16.4 trillion debt limit, or amount it is legally allowed to borrow, before the end of the year. [...]
Thu May 17
Huffingtonpost [WALL]
This has been the week where we got a taste of how Elizabeth Warren would comport herself as a US Senator. Since JPMorgan Chase’s Fail Whale trade, which has reportedly already grown to a $3 billion loss, nobody in the political arena has been more vocal – or more knowledgeable – about the trade and what it means for reforming the financial system than Warren. [...]
Thu May 17
Huffingtonpost [BUSINESS]
There has recently been a good deal of attention on the downfall of CEOs such as Scott Thompson of Yahoo and Brian Dunn of Best Buy for alleged indiscretions. These developments are said by some to be a triumph for shareholders. Im not sure why anyone should think so. As one who has pondered and written about the nature of good corporate governance, Im troubled by this turn of events, and feel that it bodes ill for our economy. Shareholders invest in public corporations to make money as a re [...]
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