Stuff I’m Reading this Morning… Not just tent cities anymore, more like a Tent Metropolis in Nashville, TN. (WSJ) The SEC kids were dropping off resumes after auditing Bernie Madoff. Nice. (NYP) Felix Salmon saw the Scariest Billboard of the Day in NYC yesterday. (Reuters) My favorite read of the week: Lunch and a discussion…
Madoff
More Hot Links: Bernie, Ben & Frederick
More Hot Links for Weekend Reading… Nobody holds onto stocks anymore on the NYSE. (Clusterstock) Barron’s reporter Erin Arvedlund blew the whistle on Bernie in 2001, here’s an excerpt from her upcoming book: (Barron’s) In case you missed SKF’s E! True Hollywood Story, here it is reposted on Wall St Cheat Sheet: (WallStCheatSheet) Ritholtz won’t…
Hot Links: Chairman Mao, Larry Summers & Lenny Dykstra
Hot Links for Weekend Reading… How did Chariman Mao deal with unwanted “Green Shoots” amongst capitalist-leaning peasants in the Chinese countryside? (Mises.org) Bernie Madoff can still afford a prison consultant, so that’s a green shoot for sure! (LOLFed) David Merkel puts up the 1000th post on his excellent Aleph Blog…start reading him if you haven’t…
Madoff Gets a Buck Fifty
Today, Judge Chin meted out a sentence of 150 years to convicted ponzi king Bernard Madoff. A buck fifty, that’s as symbolic a sentence as you’ll get. A punsihment of a buck fifty has another meaning on the streets, where it’s also known as Uno Cincuenta. The Urban Dictionary defines a buck 50 thusly: A tear inflicted by…
Breakfast Links: Madoff, Google and Swiss Banking
Breakfast Links for June 29, 2009 It looks like the Suisse banks may have had enough in the US: UBS AG and Credit Suisse Group AG, the country’s biggest banks, have told Americans to move their money into specially created units registered in the U.S., or lose their accounts. Smaller private banks such as Geneva-based…
What Obama's "Brokers As Fiduciaries" Change Really Means
In Obama‘s new regulatory reform proposal, there is language concerning how brokers are looked at and treated versus investment advisors. From the Wall Street Journal: Currently, brokers are only required to offer investments that are “suitable,” which means they can’t put clients in inappropriate investments, such as a highly risky stock for an 80-year-old grandmother….
Hot Links: Too Lazy To Post Edition
Hot Links for Friday Reading Hey kids, here’s what I’m reading this morning… What’s the most thankless job you can think of? Try being Irving Picard, the Decider of the Madoff affair. Trustee in Madoff Case (NYT) More from the “commercial real estate is the next shoe to drop” camp. New Debt Fears in Commercial…
Hot Links: Jenna Lee, Madoff Secretary, Chrysler & Morgan Stanley
Hot Links for Weekend Reading Who was the luckiest financial blogger of the week? My pal Stephen over at Wall Street Fighter visited with gorgeous and talented anchorwoman Jenna Lee of Fox Business for an interview, so you tell me! The investor class and all of institutional Wall Street was aghast at Obama‘s treatment of…
Congrat's to Jamie Dimon, On Time's 100 Most Influential List
Magazine editors love making lists for the simple reason that people love buying magazines that contain lists. Everyone loves a ranking, even a nonsensical ranking, like a list of the most influential people in the world. Time Magazine put out its World’s Most Influential 100 People in 2009 list this week and as usual, the…
Chinese Warren Buffett: Berkshire Hatha-Wei Ponzi Frozen
This is by far my favorite of all the ridiculous Ponzi’s (oh, so many to choose from!) From WSJ: A federal judge agreed to freeze the assets of a man accused of running a multimillion-dollar Ponzi scheme targeting Chinese-Americans, primarily near Dallas. The Securities and Exchange Commission charged Weizhen Tang, who describes himself as the…
