Money and Finance
- Where Bank Regulators Go To Get Rich – By William D. Cohan
Mary Schapiro, the former chairman of the Securities and Exchange Commission, must take us for fools. No need to worry about her and the so-called revolving door between government and Wall Street, she told the Wall Street Journal on April 2, after announcing...
- Fortune: Big Winner In Government's Jpmorgan Suit: A Hedge Fund
Found via Santangel’s Review. In a Wall Street vs. Wall Street fight, the NY AG Eric Schneiderman just gave hedgie Seth Klarman the upper hand. A hedge fund manager who made money betting against the housing bubble, and the terrible mortgage loans that...
- America's Municipal Debt Racket - By Steven Malanga
New Jersey officials recently celebrated the selection of the new stadium in the Meadowlands sports complex as the site of the 2014 Super Bowl. Absent from the festivities was any sense of the burden the complex has become for taxpayers. Nearly 40 years...
- The Confidence Man
Six years ago, hedge-fund manager David Einhorn made a speech at an annual investment conference about a stock he didn’t like—a mid-cap financial company called Allied Capital—and the world came crashing down on top of him. He was investigated by...
- Tweedy, Browne's Semi-annual Report
In a fascinating new book, A Demon of Our Own Design, author Richard Bookstaber, a “Wall Streeter” with over 20 years of quantitative trading experience, contends that financial innovation, complexity and globalization have combined to make our markets...
Money and Finance
Is the SEC fighting last year's war?
Thanks to Max for passing this along.
Richard Bookstaber, veteran Wall Street risk manager and hedge fund manager, made a splash on the eve of the financial meltdown with the publication of Demon of Our Own Design, a book that warned the markets had grown too complex and were headed for a crash. Last year, Bookstaber left Wall Street to join the Securities and Exchange Commission as Senior Policy Adviser in the newly formed Division of Risk, Strategy, and Financial Innovation – a job he calls the most fulfilling of his career. In what spare time he has, Bookstaber trains in Brazilian jiu-jitsu, pens a broadly read blog, and during his New York-Washington commute is working on a novel that explores the limits of human knowledge.
He recently sat down with Fortune to reflect on his first year in a regulatory role.
Richard Bookstaber, veteran Wall Street risk manager and hedge fund manager, made a splash on the eve of the financial meltdown with the publication of Demon of Our Own Design, a book that warned the markets had grown too complex and were headed for a crash. Last year, Bookstaber left Wall Street to join the Securities and Exchange Commission as Senior Policy Adviser in the newly formed Division of Risk, Strategy, and Financial Innovation – a job he calls the most fulfilling of his career. In what spare time he has, Bookstaber trains in Brazilian jiu-jitsu, pens a broadly read blog, and during his New York-Washington commute is working on a novel that explores the limits of human knowledge.
He recently sat down with Fortune to reflect on his first year in a regulatory role.
- Where Bank Regulators Go To Get Rich – By William D. Cohan
Mary Schapiro, the former chairman of the Securities and Exchange Commission, must take us for fools. No need to worry about her and the so-called revolving door between government and Wall Street, she told the Wall Street Journal on April 2, after announcing...
- Fortune: Big Winner In Government's Jpmorgan Suit: A Hedge Fund
Found via Santangel’s Review. In a Wall Street vs. Wall Street fight, the NY AG Eric Schneiderman just gave hedgie Seth Klarman the upper hand. A hedge fund manager who made money betting against the housing bubble, and the terrible mortgage loans that...
- America's Municipal Debt Racket - By Steven Malanga
New Jersey officials recently celebrated the selection of the new stadium in the Meadowlands sports complex as the site of the 2014 Super Bowl. Absent from the festivities was any sense of the burden the complex has become for taxpayers. Nearly 40 years...
- The Confidence Man
Six years ago, hedge-fund manager David Einhorn made a speech at an annual investment conference about a stock he didn’t like—a mid-cap financial company called Allied Capital—and the world came crashing down on top of him. He was investigated by...
- Tweedy, Browne's Semi-annual Report
In a fascinating new book, A Demon of Our Own Design, author Richard Bookstaber, a “Wall Streeter” with over 20 years of quantitative trading experience, contends that financial innovation, complexity and globalization have combined to make our markets...