Are concerns over a Greek Euro exit overdone ?
The press and the market continues to speculate about the negative impact of an exit of Greece from the Euro (expectations seems to be over 50%) and both the financial consequences of such an exit on the EZ (indeed everyone else) and, in particular, on the adverse contagion issues in respect of the other PIIGS and core EZ...
Four Years After AIG, Wall Street Back to its Old Tricks
> My Sunday Washington Post Business Section column is out. This morning, we look at the JPM debacle: Has the Economy been made safe from Wall Street? The short answer is not very. The print version had the full headline Four short years after AIG, Wall Street is back to its old tricks (The online version...
Dr. Frankenstein’s Europe
Dr. Frankenstein’s Europe By John Mauldin May 19, 2012 There Is No Easy Grexit A Rational Bank Run Greek Fatigue The Alligator of Bank Runs Who Gets the Old Maid? Atlanta, New York, Philadelphia, Italy, and Singapore “Had I right, for my own benefit, to inflict this curse upon everlasting...
Back to following Greece
Australian consumer confidence rose +0.8% to 95.3, though near the weakest level this year. The wage price index rose by +0.9% last Q, on a Q/Q basis. The A$ remains weak and the RBA is likely to reduce rates further, in particular, as China slows; Yuan forward rates declined to the weakest level this year....
Bove vs Ritholtz on JPMorgan’s Jamie Dimon, Bailouts
Click to watch video:
Source: Business News Network
Wall Street Still Breastfeeding from Uncle Sam
Mother’s Day at JPMorgan by Peter Steiner Hat tip Josh
TD’s Clark: Speculation Puts Banking System at Risk
Toronto-Dominion Bank Chief Executive Officer Edmund Clark talks about the Canadian firm’s approach to banking and industry regulation. He speaks with Erik Schatzker on Bloomberg Television’s “InsideTrack.” Source: Bloomberg, May 14 2012 Transcript after jump Clark on whether Jamie Dimon is looking at the capital surcharge the wrong way: “Well, Jamie, I know, is a...
Time to Restore Glass Steagall . . ..
Hat tip Bartcop One correction: What’s labelled trash should really be marked iBanks. There is nothing inherently wrong with speculation, derivatives, securitization, etc. I just don’t want to be on the hook for these as a taxpayer.
“Everything is a Hedge”
The claim is being made that JP Morgan’s $2 billion trading loss was in a trade that was a “a hedge.” It doesn’t take much review to easily disprove that position. We first learned of this particular trade when they began to distort credit indices. Any trade so huge that it impacts its markets –...
Jamie Dimon & Greece: Imperfect Together
Jamie Dimon & Greece: Imperfect Together David R. Kotok May 13, 2012 “In hindsight, the new strategy was flawed, complex, poorly reviewed, poorly executed, and poorly monitored.” Jamie Dimon Janet Tavakoli speaks plainly. See her column in the Huffington Post (May 12). Here is a sample: “Jamie Dimon’s problem as...
A change in EZ policies is coming
Exit polls in North Rhine Westphalia (“NRW”) indicate that the centre-left opposition of the SPD and Greens will gain a clear majority in Germany’s most important state. The CDU’s share of the vote declined to 26%, from 35% in 2010 and is the CDU’s worst result in the post-war period. The results also confirm a...
