Fri 2009-07-24 00:00 EDT
Salon.com | "I would shut down the hedge fund industry"
Salon.com | "I would shut down the hedge fund industry" -- Simon Johnson and John Talbott on downsizing banks, reducing corporate pull in D.C. and getting pissed!
downsizing Topic in The Credit Debacle Catalog
downsizing banks (1); rapid downsizing (1).
Sun 2008-08-24 00:00 EDT
Here comes the downsizing of finance
by Martin Hutchinson (Prudent Bear); auction-rate securities (ARS); credit default swaps (CDS); ``CDS market creates many times as much risk as it hedges or transfers''; GSEs ``leveraged more than would have been possible without the governments quasi-guarantee, lobbied like to crazy to ensure they were not properly regulated and collapsed thankfully into the arms of the taxpayer as soon as ill winds began to blow...by their presence they turned the soundest product in financial markets, the home mortgage, into an obscene speculative casino, causing collateral damage of many times their own losses.'' ``much of the financial services innovation of the last generation was spurious and unsound, and needs to be done away with''
Fri 2008-03-21 00:00 EDT
Winter (Economic & Market) Watch >> The Lender of Only Resort
Winter (Economic & Market) Watch >> The Lender of Only Resort; "the financial sphere will be rapidly downsized, large layoffs spun as bullish, and power and capital more intensely concentrated...if you thought financial markets were rigged and manipulated before, you ain't seen nothing yet."