Here is an email exchange between government officials leading up to the confiscation of Washington Mutual – courtesy Deal Breaker.
“I cannot believe the continuing audacity of this woman.” – Email from OTS Executive Director John Reich to OTS senior official Scott Polakoff (referring to FDIC...
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One of the biggest benefits I get from writing this blog is that sometimes some very smart people disagree with me. In the investing business you will be wrong often. The earlier you realize that you are wrong the smaller (on average) your losses will be. I don’t think the blog...
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There is – at the New York Times – a spat between Paul Krugman and Ross Sorkin over whether Krugman was ever in favor of wholesale bank nationalization.
I had a bit part in this debate – so I think I can offer some perspective. Krugman debated the issue with me in...
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(The following is an extract from Bronte Capital’s client letter. I thought it deserved wider circulation. It also provides grist to Felix Salmon who described shorting – and in the context by implication me – as socially useless. I think that was harsh – but not necessarily...
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Jim the Realtor is a fabulous feed on the Southern Californian residential (and small-scale commercial) real estate market – its directions and its intricacies.
This video is one of his best ever. It is 9 minutes long and in his usual monotone.
I wish it were three minutes shorter...
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I agree with Felix Salmon that the former Lehman staffers who defend Repo 105 are psychopaths – certifiably insane. They state (as if this justifies it) that …
The only people who would worry about using an old trick to reduce leverage from 13.9 to 12.1, are “yappers who...
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Tipping the authorities off about Astarra required – as I said – no special genius on my part. I was tipped by a blog reader who noticed that the Astarra investment committee claimed Charles Provini as a member whilst Provini was the CEO of Paradigm Asset Management. I have written extensively on Paradigm Asset...
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Felix Salmon directs us to a blog post in which former Lehman executives (possibly safely employed by Barclays) talk about the Valukas report.
http://blogs.reuters.com/felix-salmon/2010/03/17/repo-105-like-whatever/
Felix rightly describes these people as psychopaths.
I am not going to further roast these executives – I just want to know how much...
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There are a few comments on the blog that annoy me. One for instance is repeated below:
A review of the transcript will show that Buffett believes that: a) the legislation must focus on cost, in order to achieve the goal of universal coverage. This has nothing to do...
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Warren Buffett did one of his regular (extended) interviews with CNBC. I think he appreciates the charm and attention from Becky Quick – even enough to get up at 5am and go to the steakhouse turned TV studio. Most of these interviews are Buffett repeating his wholesome (and oft repeated) wisdom. However he...
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