In a bit of synchronicity, Lambert gave a mini-speech tonight that dovetails with an important Tucker Carlson segment about how hedge funds are destroying flyover. As UserFriendly lamented, “It is beyond sad that Tucker Carlson is doing better journalism than just about anywhere else.” That goes double given that Carlson has only short segments and […]
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When is a sale not a sale? 1. When it hasn’t closed 2. When the sale is so heavily subsidized as to be questionable Both look applicable with the still-not-consummated “sale” of the National Enquirer, as confirmed in a well-reported story, Bad Romance, at the Columbia Journalism Review, which went live in late November. As […]
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Yves here. This is so sad and appears to have gone under the radar due to the impeachment hearings and Democratic party dominating the news yesterday. So many newspapers disappearing or becoming pale shadows of their former selves. By Andrea Germanos, staff writer. Originally published at Common Dreams (Photo: Rachel Kramer/flickr/cc) Journalists sounded the alarm […]
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Private equity is finally getting some long overdue official scrutiny via a series of Congressional moves. One is the full House Financial Services Committee meeting today, at 10:00 AM, America for Sale? An Examination of the Practices of Private Funds. You will find the live webcast at that link, as well as links on that […]
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THE MAN WHO SOLVED THE MARKETBy Gregory Zuckerman There are few books in the investing world as well known as Burton Malkiel’s “A Random Walk Down Wall Street.” First published in 1973, it has never been out of print, and is now in its 12th edition. Its thesis is that “a blindfolded monkey throwing darts […]
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Even though this is a finance and economics blog, I haven’t written about the disruption in the repo markets. That is in part because the upset is not in any way, shape, or form like the 2008 period when banks were unwilling to repo even Treasuries to each other overnight because they were fearful another […]
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WASHINGTON — The Supreme Court seemed prepared on Tuesday to reject a constitutional challenge to the federal response to the worst debt crisis in Puerto Rican history, one that threatened basic services like schools and hospitals, some $50 billion in public pension obligations and more than $70 billion in debts to bondholders. The crisis got […]
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Elizabeth WarrenPhoto: Scott Olson (Getty) It’s all about the Benjamins, baby—even for Wall Street bigwigs who call themselves Democrats, who say they’ll sit out the election, or even wholesale back Donald Trump, if Elizabeth Warren, the big-banks-bashing senator from Massachusetts, is their party’s presidential nominee. That’s the finding of a recent informal survey by CNBC of private […]
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Here we are, more than eleven years after the September Saturday when Hank Paulson announced that the government was putting Fannie, Freddie and the Federal Home Loan Banks in conservatorship, shoring them up financially by giving them a positive net worth guarantee. The intent has always been that the conservatorship would be temporary, and that […]
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One of Wall Street’s biggest hedge funds said on Monday that it has taken a $3.2 billion stake in AT&T and urged the telecommunications giant to change its business strategy to bolster its share price. Though the fund, Elliott Management, owns a small piece of AT&T — its holdings amount to just over 1 percent […]
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Phil Luciano, a columnist at The Peoria Journal Star, got a story tip recently about Caterpillar, the heavy equipment company that was based in Peoria, Ill., for 90 years before a recent relocation to Cook County. The tip seemed promising enough. But as one of only seven full-time reporters at the paper, he felt stretched […]
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When Jeffrey Epstein was serving time in Florida for soliciting prostitution from a minor, he got a surprising visitor: James E. Staley, a top JPMorgan Chase executive and one of the highest-ranking figures on Wall Street. Mr. Staley had good reason to maintain his relationship with Mr. Epstein, who received him at his Palm Beach […]
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SAN FRANCISCO — Tom Steyer is a former hedge fund investor and a billionaire. Those things could be a liability for a man running for president as a progressive. But Mr. Steyer, who this month joined a field of — what is it now? — 24 people, argued this was a selling point. “Now you […]
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CalPERS got some bad press earlier this year as a result of being caught out as holding a 34% stake in the National Enquirer’s parent company, American Media Inc., right after the scandal broke over AMI’s threat to Jeff Bezos to publish some pecker pix. As we wrote at the time, “What about ‘passive investor’ […]
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Yves here. I have a soft spot for stories about financial train wrecks, even though I suspect Americans will snigger at UK investors who didn’t read the fine print on their “equity funds.” However, the overwhelming majority of retail investors rely on sales pitches and are lucky enough that US securities laws are so strong […]
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The beached financial whale known as Deutsche Bank is going to find it awfully hard to get itself back into the drink, let alone find good feeding grounds. After a pop over the news that Deutsche was Doing Something Big, the stock skittered as the CEO Christian Sewing presented more details of the turnaround plan. […]
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Lambert here: But it doesn’t matter. People love their health insurance companies! (And do note the role, entirely accidental I am sure, played by body shops outside staffing firms.) By Rachel Bluth, Kaiser Health News reporter. Originally published at Kaiser Health News. About 1 in 6 Americans were surprised by a medical bill after treatment […]
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