It’s Thanksgiving, But . . .

Why All The Beef? Wall Street has this great culture of goofy bets. There's always money involved. But money, unless the amount is just plain sick, is not what draws the crowd. Wagers gain notoriety when they involve endurance or the specter of public...

Beach Reading without Congressional Oversight

There's plenty to discuss from the headlines these days. But this summer I've been buried with edits to my next novel, The Gods of Greenwich. And I'm staring at a few deadlines now. With this post, however, I'd like to take you back to the summer...

Darth Goldman: The Enterprise Value Strikes Back

Yesterday, Goldman Sachs settled fraud charges associated with Abacus CDOs for $550 million. Not surprisingly, the settlement excluded Fabrice P. Tourre, who will no doubt be hung out to dry as the Tourre de Toxic winds to a close. Personally, I think the government...

Club Madoff

The Club No One Wanted To Join-Madoff Victims In Their Own Words Twenty-nine Madoff victims have banded together to tell their stories. Their book is appropriately entitled: The Club No Wanted to Join—Madoff Victims in Their Own Words. My copy has not shipped yet. So...

Financial Reform and the Fungus Five

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...