Breaking: US Dollar to Reverse Split

Breaking News: Washington D.C., Jul. 24, 2009 — The Federal Reserve announced today that its Board of Directors has declared a reverse stock split, at a 1 for 2 ratio for the US Dollar, effective August 1, 2009. As a result of the reverse split, every $2 of outstanding US currency will be changed into one Dollar. All fractional monies…

New York Times Suffering From Body Dysmorphia?

Body Dysmorphia is a psychological disorder in which the affected person is excessively concerned and preoccupied by a perceived defect in his or her physical features. – Wikipedia Dear New York Times, I thought it was adorable the way you reported on your own earnings report in your Media & Advertising section. But I have…

Breakfast Links: Trader Mark, Judd Apatow and the Cankle Epidemic

Stuff I’m Reading this Morning… The NYSE applies the old “Grandmother Rule” in it’s barring of a bad broker. (SEC Teaparty) Javier Bardem is out as the villain of the Wall Street sequel. Check out the comments section on Dealbreaker for some of the most hilarious replacement suggestions imaginable. (Dealbreaker) So far, a monstrous comeback…

China Goes Berserk for IPO's…Sound Familiar?

Ahhh, the year 1999…Y2k was on everyone’s mind, all the boys had their hair pushed forward and up, and our eardrums were pounded mercilessly by that Rob Thomas/ Carlos Santana abomination that attacked from every radio speaker coast-to-coast. More memorable to me than any of that was the dot com frenzy that turned the entire…

Breakfast Links: Livermore, Gasparino & the 2nd Ave Subway

Stuff I’m Reading this Morning… Carney may be onto something re: Epstein‘s “Hedge Fund”. The next Ponzi? (Clusterstock) Thank heavens for Greenback’d, a monster list of every activist investor situation going on right now. (Greenback’d) NEXT Financial gets nailed…gotta supervise those OSJ branches, people. (BusinessWire) Charlie Gasparino has a secret un-admirer who thinks he went…

Kidz Korner: What Does Stimulus Mean?

Kidz Korner is a relatively new feature here on The Reformed Broker where I explain complex financial issues to kids from the neighborhood in a simple, straightforward way. _______________________________________________________________________________________ Little Timmy Johnson: Hey Mister TRB, can I ask you a question? The Reformed Broker: You just did… Timmy: Oh. Sorry, can I ask you another…

Breakfast Links: Pinning Down Roubini

Stuff I’m Reading this Morning… OMG, some my fave links of the month so far today! Blankfein to Goldman employees: “Please refrain from wearing your crowns outside of the office”. (New Yorker) The recession is now screwing with the British pub business, time for us to get serious. (USA Today) Just try pinning down Nouriel…

Breakfast Links: Bernanke, Mortgage Brokers & Nine Inch Nails

Stuff I’m Reading this Morning… Filthy mortgage brokers are now calling themselves “Loan Modification Specialists“. Jason kills it with this post. (LOLFed) Some color on Ben Bernanke‘s op-ed, published late yesterday in advance of this week’s testimony. (Bloomberg) Ezra Klein tackles the healthcare debate with an idea that just. might. work. (Washington Post) ShadowBanker takes…

Breakfast Links: Meatbags & the Cheese Purse

Stuff I’m Reading this Morning… Are you ready for the torrent of earnings as 143 of the S&P 500 companies report this week? Here’s a preview: (TheStreet.com) Dissecting Joseph Stiglitz, this era’s “rockstar” economist. (Economist’s View) Pimco and a group of bondholders bail out CIT. Yay, I think… (Reuters) The battle for White House influence…

July 2009