WHO KNEW THE FOUNDING FATHERS MEANT TO GUARANTEE GOVERNMENT BLOAT?
I’d always assumed that one of the benefits to cities of filing for bankruptcy (which Stockton, California did June 28, for instance, in the largest municipal…
GREAT MOMENTS IN ADVERTISING
Re: Barclays, a reader e-mails, “It’s rare that you brag about it.” . . . .
AMERICANS REALLY, REALLY DON’T LIKE BANKS, GALLUP REPORTS
Gallup: Americans’ confidence in U.S. banks is now at a record-low 21%, down slightly from 23% in the past two years and one percentage point below…
BOVE: BANK DOWNGRADES “OBSCENE.” GUESS WHAT? HE’S RIGHT.
The rating agencies continue down the road to irrelevance: Moody’s [bank] downgrades are “the most obscene act I’ve ever seen by a major institution,” Richard Bove,…
HEY HEY, HO HO, CDS HAVE GOT TO GO
Conversations around the office give me the sense that Steve Gandel and I may be the only ones on the planet who believe credit default swaps…
LET THE UNINTENDED CONSEQUENCES COMMENCE
The Volcker rule works its magic: [B]anks cannot satisfy the [corporate-debt investors’] needs because they are reducing their own holdings of corporate bonds, partly because of…
QUOTE OF THE DAY
“We lost $2 billion to Chrysler. I assume you’d want us to continue to lend to Chrysler,” – Jamie Dimon , yesterday in front of the…
THEY DO SHOW UP AT THE SCENE OF AN AWFUL LOT OF TRAIN WRECKS, YOU HAVE TO ADMIT
Fortune ‘s Steve Gandel: Ban credit default swaps. The reason to get rid of CDS is that it doesn’t work. Reuters recently reported that trading by…
TIME FOR SOME FRESH CLICHES!
If I never read another “Mr. Dimon Goes to Washington” or “Dimon in the Rough” headline ever again, it won’t be too soon. . . .
DAN DORFMAN, 1931-2012
Nobody will ever mistake him for Walter Bagehot, but there wasn’t financial journalist around who embodied the go-go, pre-tech bubble stock market of the 1990s more…