naked capitalism Tue 2010-05-11 09:04 EDT

Richard Smith: Another Nail in the ``Hoocoodanode'' Defense, Circa April 2007

Richard Smith

Here's someone with his head screwed on, back in April 2007, who proves singlehandedly that ``hoocoodanode'' was no defense for failing to anticipate the implosion of the shadow banking system (more on this prescient analyst in due course)...So who is this fellow who got it, back in that mythical time when nobody knew what was going on? According to an email correspondent of mine, he is ``a no-name equity guy'' in London. Actually his name is Henry Maxey, and he is chief investment officer and chief executive elect of Ruffer LLP, a small London fund manager. So there's no chance of making him US Treasury Secretary or head of the NYFRB, I'm afraid...

Circa April 2007; defense; Hoocoodanode; nail; naked capitalism; Richard Smith.

Jesse's Café Américain Tue 2009-11-03 20:06 EST

A Brilliant Warning On Robert Rubin's Proposal to Deregulate Banks, circa 1995

Jesse

...The notion that Glass-Steagall prevents American financial intermediaries from fulfilling their utmost potential in a global marketplace reflects inadequate understanding of the events that precipitated the act and the similarities between today's financial marketplace and the market nearly a century ago...The unbridled activities of those gifted financiers crumbled under the dynamic forces of the capital marketplace. If you take away the checks, the market forces will eventually knock the system off balance. Mark D. Samber (1995)

Brilliant Warning; circa 1995; Deregulate Banks; Jesse's Café Américain; Robert Rubin's Proposal.

Tue 2008-07-08 00:00 EDT

naked capitalism: "Eight hundred years of financial folly"

Carmen Reinhart, Kenneth Rogoff; long-run historical financial crises; major capital inflows are highly correlated with near-term debt crises; Yves: "we are in the same position as Thailand and Indonesia, circa 1996, except we have the reserve currency and nukes"

financial folly; naked capitalism; years.