U.S. Probes Morgan Stanley The news is out. US prosecutors are investigating several Morgan Stanley CDOs. Like the Abacus inquiry at Goldman Sachs, the issue is what representations Morgan Stanley made to clients. How did the bank market those Weapons of Money...
There’s been so much talk about the “flash crash” and high-frequency trading. Wonder what it is? Here’s a great, eight-minute video that explains how high-frequency trading works: Norb Vonnegut
I believe in financial reform. Let’s lose synthetic CDOs, credit default swaps, and other Weapons of Money Destruction. Let’s cut the leverage and focus on systemic risks to our economic order. But let’s be smart. In the wake of last Thursday, it...
The Huffington Post posted this video of a trader freaking out last Thursday. If you haven’t seen this video yet, spend a few minutes on this one. “We call this a capitulation.” Yikes. Norb Vonnegut
Last Thursday the Dow lost almost 1,000 points in less than ten minutes. Then, the markets rebounded something fierce. Here’s a guy calling action in the pits. Watch the right corner of the screen as the market slumps: May 6, 2010 S&P Call: Ben Lichtenstein...
Here’s more from Ike Devji’s white paper on asset protection: It is a great idea to have an umbrella policy, but you and your liability carrier have different ideas about what umbrella means. To you it means everything, to your carrier it means specific...
The New York Times describes my novels as “money porn,” “a red-hot franchise,” and “glittery thrillers about fiscal malfeasance.” Through fiction I explore the dark side of money and the motivations of those who have it, want more, and will steamroll anybody who gets in their way.
The New York Times describes my novels as “money porn,” “a red-hot franchise,” and “glittery thrillers about fiscal malfeasance.” Through fiction I explore the dark side of money and the motivations of those who have it, want more, and will steamroll anybody who gets in their way.