Joshua M Brown

A Guide to Prison Gangs for Bernie Madoff

Dear Bernie, News of the 150 year jail sentence you may be facing has reached The Reformed Broker in his lair this evening and so I decided to take a moment out to offer some advice. Picking a prison gang is an important choice, not unlike choosing a Palm Beach country club or a Hebrew…

Coming Soon: The Uptick Rule

The word today is that The Uptick Rule, the best line of defense we haven’t had in place for the last year, may be making a comeback. Rep. Barney Frank (D-Mass.), the head of the House Financial Services committee, said that the SEC should restore the so-called “uptick” rule within a month, Reuters is reporting….

Pundit Zachary Karabell (Almost) Keeps It Real

Someday, some pundit is going to come out and call BS on the whole on-air stock promotion system…but today is not that day. From the title of his article in Newsweek, “Confessions of a Pundit”, it sounded as though former pundit Zachary Karabell was about to do just that.

Don't Blame the Repeal of Glass-Steagall…Blame Risk Management

Over on Breakingviews, Hugo Dixon is taking issue with those who believe bringing back some version of the Glass-Steagall Act would prevent the financial collapse we’re now fighting through every day. Why would anybody run a casino and a utility under the same roof? That is the supposedly killer argument of those who want to…

TMI, Warren Buffett, TMI.

Are you kidding me with this guy?  Get off the TV already!  Enough! Is it me or has Warren Buffett made more television appearances lately than Ryan Seacrest?  Today was a full court press with Warren on CNBC more than Erin Burnett.  They asked him like 90 questions, he even sat there while they dissected…

Roubini and Faber Out-Doom Each Other

Today, Nouriel Roubini tossed out another tasty treat for his bear worshippers on Bloomberg: “My main scenario is that it’s highly likely it goes to 600 or below (S&P 500)…Even if you do everything right with fiscal and monetary policy, we’re still going to be in a recession through the end of this year and…

Ken Lewis: Even More Myths About Banks

  Kenny Lewis, Chief Executive Undertaker at Bank of America, took the opportunity to write an op-ed piece in today’s WSJ.  Some of the bank myths he aimed to dispel:   The banks aren’t lending, The banks are insolvent, The Troubled Asset Relief Program (TARP) hasn’t worked, Taxpayers have given the banks billions and won’t get…

March 12th: Balance Sheet Amnesty Day?

What’s the story with March 12th? Basically, the thinking out there goes something like this.  Congress is planning to take a look at possibly easing the Mark-to-Market accounting rules, giving US banks a fighting chance at making it through this period. From the Washington Post: A House Financial Services subcomittee has scheduled a March 12…

Corporate Sponsors for the New Yankee Stadium?

Bank of America finally displayed an ounce of remorse when they recently decided to back away from buying the naming rights to the new Yankee Stadium (unlike the rogue bank that will go forward with the sponsorship of Citi Field).  Taking a  glance at the condition of many Fortune 500 companies, you’ll see that there aren’t many companies…