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ROWS: Reminiscing Over Wall Street
Reminiscing becomes a bigger part of life as we age. The more miles you have under your belt, the less new experiences there are and the more you think about what has transpired. What could have/should have I done better? Is this the right path? Where to go from here? We face these questions every...
Foreclosure Fence: On Which Side Do You Stand?
One of our favorite don't ask, don't tell topics in the finance world is the foreclosure mess. Call it Foreclosuregate , the Credit Crunch or the Housing Crisis it just will not go away. Simply put for greater econ minds than mine: When you base your wholesale economic growth on property being just...
A Christmas Carol: Nails on the Street
So for those that are not aware, I am a die hard New York Mets fan. This is sort of like saying you had your future vested in Lehman and Bear three years ago and that every day you wake up to a new Credit Crunch like Bill Murray in Groundhog Day. Today, both in the spirit of Christmas and as a...
Securitizing Sanity
They say that a picture is worth a thousand words. Well if that's the case Just please feast your eyes on a Rembrandt . This thing must be worth a million GM shares. Now, I appreciate good jokes and love to watch old stand up concert movies of guys like Richard Pryor, Eddie Murphy and George Carlin....
Wall Street on Wall Street 2
Southampton, New York: A gathering of Titans was brewing; names like Kravis, Schwarzman, Black, and Giuliani were on the guest list. Was it a Bilderberg meeting? No. Perhaps another “idea” dinner? Wrong again. Where they watching Shia LaBeouf pull a Costanza on the big screen? Bingo.
This has been the best week in my bank's 100+ yr history
Edit- thought I'd better delete all the sensitive / confidential information. Let's just say this has been the best week ever for my bank given the enormous business we've gained from the demise of Lehman, Merrill and fears on MS/ GS , and I'm very confident my bank can't possibly go under due to...
Stop bitching. AIG is not a bailout.
Have you complainers even read the terms of the loan? (yes, loan) Basically, the Fed agreed to loan AIG up to $85 billion at LIBOR + 850bps. (!) That's about 11% interest. And in exchange, AIG gave the Fed 80% of the company - for keeps. AIG common and preferred get nothing, bonds get pennies on the...
BIG winner of the downturn 2008-2009:
Hi I wanted to ask you about which banks emerged as the biggest winners of the last 2 3 yrs? downturn + what-looks-like a recovery period? And which major companies / industries have according to you had a great credit crunch?? PS: Don't think that GS is the obvious answer because it was not far...
The Rescue on Main Street
Frustration and anger are two feelings that come bubbling forth from my gut as I watch the drama unfold in regard to the rescue plan for our financial system being deliberated before my eyes. At the heart of the matter sit the two Government Sponsored Enterprises (GSE's) Fannie Mae and Freddie Mac ....
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