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Tag Archives: bank behaviour
Approaching a market top?
A weird complacency seems to have settled over Wall Street. Stock prices are at a record. The S&P 500 broad index, currently at 1950, is remorselessly approaching 2000. It’s been climbing with hardly a pause for breath for more than five years. That’s … Continue reading
Posted in debt, financial markets, risk
Tagged bank behaviour, China debt, delusion, Dubai, economic growth, Federal Reserve, unemployment, Wall Street
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Celebrity insider trader goes to gaol …
Back in 2012 Rajat Gupta was sentenced to 2 years gaol in New York for insider trading. He appealed, of course. But that failed. So last week off he went to a friendly gaol nicknamed Club Fed (where he can have visitors … Continue reading
Time for a banker to go to gaol?
BNP Paribas, France’s biggest bank, is in trouble with the law in the US. It is apparently guilty of violating US financial sanctions against Iran and others. The US Department of Justice (DOJ) suggested the bank plead guilty and pay a $16 billion … Continue reading
Posted in financial markets, inequality
Tagged bank behaviour, investment banking, JP Morgan Chase, Wall Street
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Co-incidence or consequence?
Michael Lewis seems to be getting more mentions than anyone in the financial press and blogs this week. He’s clearly hit a raw nerve with his new book “Flash Boys”. Here are just a few of the things that have happened … Continue reading
Posted in financial markets
Tagged bank behaviour, derivatives, Goldman Sachs, HFT, Wall Street
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Is the stock market rigged?
Michael Lewis thinks so. On 30th March he went on CBS’ 60 Minutes in the US to promote his latest book “Flash Boys” an expose of the the dark world of High Frequency Trading (HFT). There he asserted “the US … Continue reading
Posted in financial markets, risk
Tagged bank behaviour, derivatives, investment banking, technology, Wall Street
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Pain in Spain goes on and on
They came to Madrid from every corner of the country. Some walked for a month. “We want work. We can’t accept that millions of unemployed people must go home to live with their parents,’’ said Jorge Balbas, an unemployed man … Continue reading
But I can’t afford it …
We’ve all said it. “That would be great, but I can’t afford it.” That house, that fancy car, that new dress, that exotic holiday, that night out … BUT, in recent decades … … The presence of credit cards in … Continue reading
Good debt, bad debt and unreal debt
Governments, corporations and people borrow to pay for something they need now, but don’t have enough cash/savings to pay for now. If that something is a hard economic asset (say, a power station, or a house), part of the future … Continue reading
Posted in debt, financial markets, risk
Tagged bank behaviour, delusion, derivatives, investment banking, Wall Street
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Unintended consequences – Greece
The tabloid news cycle tends to be dominated by the latest house fire, car accident, murder, sex scandal, sports result, and so on. It’s all so predictable. Even the serious traditional news media tends to be dominated by:
Posted in inequality, tough times
Tagged austerity, bank behaviour, consequences, Goldman Sachs, government, Greece, politics
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Swiss fat cats
I have commented before about the interesting democratic process in Switzerland. If 100,000 people get activated about a single issue they can petition for a country wide referendum. This is a way better concept that having politicians argue over ridiculous … Continue reading
Posted in inequality
Tagged bank behaviour, elites, fat cat salaries, group think, inequality, investment banking, Wall Street
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something 2 ponder 