Recently, I described financial reform as a “petri dish” of pending legislation. The government is tackling too many issues at the same time. Without constants—we don’t know how markets will react to all the moving pieces. It gets worse. Last...
In today’s New York Times, Andrew Sorkin describes the sweetheart taxes for hedge-fund and private-equity partners as follows: General partners at private equity funds, who take a cut of the investment gains they earn for their investors in the form of “carried...
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...
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
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.