Tag Archives: banking
Crony capitalism at the heart of the financial system
“Simon Johnson, an economist at the prestigious Peterson Institute in Washington, DC, [] has been leading the argument against overmighty banking.”
Simon Johnson @ Wikipedia
Simon Johnson’s blog = The Baseline Scenario – PageRank 8/10 – Wow.
Washington Mutual is seized by the US government.
- New York Times
- Another one bites the dust:
(Sorry for those who have a narrow screen and don’t see the right part of this big chart.)
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According to InTrade, here are the banks that could fail next:
- Bank United Financial
- Downey Financial
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External Links About The Big Bailout:
- Reason magazine have collected opinions from the leading free-market [...]
Nassim Nicholas Taleb likens modern-day financial markets to medicine in the 1800s, when going to a hospital in London or Paris multiplied your risk of death by four times, he says. Similarly, quants increase risk by deploying flawed financial tools designed to reduce it, he argues.
Via Stan Jonas, Nassim Nicholas Taleb cited in a Bloomberg article (Taleb Outsells Greenspan as Black Swan Gives Worst Turbulence):
Stress tests are inherently risky because they ignore rare but potentially devastating events. [...] .. ["stress test" = Wall Street lingo for examining how a market rout will play out]
Past shortfall doesn’t predict future shortfall. [...]
Bayesian [...]
Dan Laffan of InTrade to Todd Griepenburg – #1
Dan Laffan of InTrade has just given me permission to republish his e-mail(s) to Todd Griepenburg:
Dear Todd,
Thank you for your email, received yesterday. We’re always happy to receive customer feedback. We don’t always respond individually to user input due to the volume of input being received, but we do consider all of it in the [...]
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