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Nassim Nicholas Taleb on Bailout Hazard
Fri, 01/02/2009 - 08:50Nassim Nicholas Taleb complains about bailout hazard on Fareed Zakaria's CNN show. Management of financial companies earned hundreds of million dollars while ignoring Black Swan risk.
Categories: Blogosphere
Nassim Nicholas Taleb on Bailout Hazard
Fri, 01/02/2009 - 08:50Nassim Nicholas Taleb complains about bailout hazard on Fareed Zakaria's CNN show. Management of financial companies earned hundreds of million dollars while ignoring Black Swan risk.
Categories: Blogosphere
A Second Mortgage Disaster On The Horizon - Maybe
Sun, 12/28/2008 - 10:48Recent CBS 60 Minutes: New Wave Of Mortgage Rate Adjustments Could Force More Homeowners To Default. The video provides overview on the possibility of housing market and credit market to potentially get worse in 2009 and beyond. Further blows to the financial system could keep coming...maybe.
Categories: Blogosphere
US Economy declines at an annual rate of 0.5 percent in the third quarter of 2008
Tue, 12/23/2008 - 11:45US Economy is clearly slowing down. Christmas season this year will not be as happy as last year: Real gross domestic product decreased at an annual rate of 0.5 percent in the third quarter of 2008, (that is, from the second quarter to the third quarter), according to final estimates released by the Bureau of Economic Analysis; Third-quarter corporate profits fell 1.2 percent, the fifth consecutive quarter of decline. Read more....
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Peter L. Bernstein on Risk
Thu, 12/18/2008 - 10:50In this rare interview conducted by McKinsey & Company back in early 2008, Peter L. Bernstein, an expert on risk, explores the history of risk and how it works in real-world markets and in our lives. He also explains why in the real world the most sophisticated mathematical models can sometimes fail. This interview is timeless and very relevant to current on-going global financial crisis.
Source: McKinsey & Company
Categories: Blogosphere
Henry Paulson: Why I Let Lehman Brothers Fail
Tue, 12/16/2008 - 17:16Video Clip of Henry Paulson, Secretary of Treasury, on why he let Lehman Brothers fail. Our take: ... read more.
Paulson Talks Lehman from AlleyInsider on Vimeo.
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Book Review: "Outliers: The Story of Success" by Malcolm Galdwell Is Both Entertaining and Useful
Tue, 12/16/2008 - 12:20An interesting business book to read: "Outliers: The Story of Success" by Malcolm Galdwell. I found the book to be both entertaining and useful. Read more.
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MANY HEDGE FUNDS, BANKS AND INVESTORS EXPOSED TO THE ALLEGED $50 BILLION FRAUD BY BERNARD MADOFF
Sat, 12/13/2008 - 10:32Here is list of hedge funds, banks, and investors that are exposed to the alleged $50 billion fraud by Bernard Madoff. Read more.
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List of Financial Institutions Receiving Capital Injection by US Government as of 12/05/2008
Thu, 12/11/2008 - 13:46Here is complete list of financial institutions that have received capital injection from US Government as of 12/05/2008. Read more.
Categories: Blogosphere
Breaking News: Obama Picks Physicist Steven Chu as Energy Secretary
Wed, 12/10/2008 - 15:59Breaking News: Obama Picks Physicist Steven Chu as Energy Secretary (December 10, 2008)
http://www.cnbc.com/id/28163600
Steven Chu (Chinese pinyin: Zhu Dìwén) is 1997 Nobel Prize in physics and is a former chairman of the physics department at Stanford University in California and head of the electronics research laboratory at Bell Labs. Steven Chu is perhaps the first Asian to hold such a high-level job in the US government. This is the right step for Obama to prove to the world that US is really a great country with a great heart that embraces diversity and democracy. Read more for detail.
Categories: Blogosphere
GM Restructuring Plan Submitted to Senate on Dec 2, 2008
Mon, 12/08/2008 - 13:43General Motors' Restructuring Plan for Long-Term Viability submitted to Senate Banking Committee & House of Representatives Financial Services Committee on Dec 2, 2008: click here to download (PDF file; source: WSJ)
Categories: Blogosphere
View on the Market: Laszlo Birinyi vs. David Tice
Mon, 12/08/2008 - 11:13Bloomberg interview with Laszlo Birinyi of Birinyi Associates in Connecticut on Dec 8, 2008: Mr. Birinyi is hesitant to make a call on the bull market. There needs to be some catalysts to jump start a bull market. The market will continue to be volatile. However, he appears to think that S&P 500 Index has made the bottom.
Read more for Bloomberg interview with David Tice of Federated Prudent Bear Funds who thinks that the market could potentially fall significantly from current level...contrary to Laszlo Birinyi 's view.
Categories: Blogosphere
Credit Default Swaps Overview
Mon, 12/08/2008 - 10:29BBC Newsnight feature by Alex Ritson on Credit Default Swaps which is until recently a little-known financial product (or uncontrollable monster) that affected Lehmans Brothers, AIG, Bear Stearns, many other financial institutions as well as the Icelandic banks. Size of Credit Default Swaps is approx. $60 Trillion.
Read more for additional video clips on Credit Defaul Swaps.
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60 Minutes on Obama and The Presidency
Sun, 12/07/2008 - 10:57Steve Kroft interviews President-elect Barack Obama. Obama shares his thoughts and goals as our nation's next Commander-in-Chief as well as how he will handle the current global economic crisis.
Categories: Blogosphere
A Conversation with George Soros at MIT
Wed, 11/26/2008 - 09:25George Soros shares his view on global economic crisis and bubble & bust. This exclusive MIT event happened very recently. Discussion revolves around his views and ideas as reflected in his latest book: The New Paradigm for Financial Markets: The Credit Crash of 2008 and What It Means. In addition, Mr. Soros also shares his background and his concept of reflexivity in analyzing the global market.
Categories: Blogosphere
Do you think Obama's economic team will be able to turnaround US economy in 2009?
Mon, 11/24/2008 - 12:21* Very Likely * Likely * Neutral * Unlikely * Very Unlikely
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BREAKING NEWS: Government Agrees To Citigroup Bailout
Sun, 11/23/2008 - 22:43The U.S. agreed to take unprecedented and necessary steps to stabilize Citigroup (or perhaps "destabilize" to some) by moving to guarantee $306 billion in troubled assets on the bank's books. Here is the official detail terms of the U.S. Government and Citigroup deal.
(Source: Wall Street Journal)
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Breaking News: Barrack Obama's Picks for Top Government Positions
Fri, 11/21/2008 - 14:43President-elect Barack Obama picked Timothy Geithner, current head of the Federal Reserve Bank of New York, to be his Treasury secretary, with Lawrence Summers getting an unspecified senior White House. Senator Hillary Clinton and former Energy Secretary Bill Richardson have also all accepted posts in President-elect Barack Obama's cabinet, according to various media reports.
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30 Minutes Version of I.O.U.S.A. Movie
Fri, 11/21/2008 - 12:39I.O.U.S.A. boldly examines the rapidly growing national debt and its consequences for the United States and its citizens. Burdened with an ever-expanding government and military, increased international competition, overextended entitlement programs, and debts to foreign countries that are becoming impossible to honor, America must mend its spendthrift ways or face an economic disaster of epic proportions. Here is 30 minutes version of the movie:
This movie is an eye-opener. The US as a country is theoretically broke and will need to undergo long-term fiscal diet.
Categories: Blogosphere
Recent Economic Perspectives from Bank of America Securities + US Unemployment Rate
Fri, 11/07/2008 - 11:46Here are the latest economic perspectives/reports from Bank of America Securities. Reading all the reports, it is hard to argue that US economy is quickly entering recession or already in recession. It is not a pretty picture. In addition, the unemployment rate has also been creeping higher nationwide according to Bloomberg and Bureau of Census for the Bureau of Labor Statistics.
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