Posts Tagged ‘Too Big To Fail’

The Meaning of Jon Corzine

The Meaning of Jon Corzine

By The Banker | Blog Posts, Wall Street

With the announcement that MF Global Trustee (and former FBI chief) Louis J. Freeh will charge Jon Corzine for failing in his duty to oversee the company, the meaning of Jon Corzine shifts once again. Prior to this announcement, I understood the meaning of Corzine primarily through the following investment aphorism:[1] “One of the worst [&hellip

The USA of I.O.U.

The USA of I.O.U.

By The Banker | Blog Posts, Wall Street

Every once in a while I read a finance article that sticks in my head and never goes away.  An article about the historical intersection of debt and the United States from the New Yorker from four years ago by Jill Lepore is just one of these.[1] The USA of IOU Jill Lepore’s article explains [&hellip

Four Reactions to the Election

Four Reactions to the Election

By The Banker | Blog Posts

Four quick thoughts now that the elections are over, from a recovering banker. 1. The equity indexes fell immediately at the open today, and remain down over 2% on the day.  Do not let any talking head from the financial-industrial-infotainment industry try to suggest that this is in response to Obama’s election.  Every trader on [&hellip

The Citigroup Bailout - SIGTARP Part III

The Citigroup Bailout – SIGTARP Part III

By The Banker | Blog Posts, Wall Street

We love to criticize the wastefulness of bureaucracy, the agency ass-covering, and the naiveté of government officials.  But it’s a surprising pleasure to read[1] The SIGTARP [2]  review of the government’s response to Citigroup’s near-death experience and its bailout in the Fall of 2008. Here we have a US Treasury position created for the purpose [&hellip

Book Review: Too Big To Fail

Book Review: Too Big To Fail

By The Banker | Book Reviews, Wall Street

You may, like me, be curious about what happened during the Great Credit Crunch.  You may, like me, have the feeling we reached a financial precipice, peeking over the edge into the abyss.  But before falling in we blacked out and woke up in the hospital, a thick IV needle in the arm, tired and [&hellip