Money and Finance
From Barry Ritholtz’s blog:
- How Not To Solve A Crisis – By Joe Nocera
Joe Nocera is also scheduled to appear on Charlie Rose tonight, maybe discussing this article, among other things. There is a delicious moment in the HBO film “Too Big to Fail” when Christine Lagarde, then France’s minister of finance, calls Hank...
- Larry Fink.....contrarian Indicator?
From June of 2008: "We were one of the investors in the Lehman equity offering...Lehman is not a Bear Stearns situation...Lehman is adequately structured in terms of avoiding a liquidity crisis...We believe we're closer to the bottom than another...
- Us Hedge Funds Capitalise On Lehman Collapse
Thanks to Lincoln for passing this along. It may sound impossible but one of the best financial investments of the past three years has been a collapsed bank. And not just any bank but Lehman Brothers, the world’s biggest bankruptcy. The Wall Street...
- The Financial Zoo: An Interview With Satyajit Das – Part I
Via the Naked Capitalism blog: SD: It’s amazing how much money you can make just shuffling paper backwards and forwards. Malcolm Gladwell wrote a piece praising John Paulson who made a killing from the subprime disaster as an entrepreneur. But what...
- ‘hail Mary’ To Warren Buffett: Untold Details Of Lehman’s Fall - By Matt Phillips
Doubtless, historians will be going over the mammoth 2,200 page report from the Lehman bankruptcy examiner for years to come. But we bloggers are writing the first draft now. And there’s plenty of good fodder on Lehman’s final days, including fresh...
Money and Finance
Lehman...
From Barry Ritholtz’s blog:
How awesome is this treasure trove of emails, documents, files et. al placed online by the NY Fed?
Some of the emails between Lehman execs are laughable — naive, silly, hubristic, childish.
But my favorite piece simply has to be the Morgan Stanley research report from June 30 2008 “Overweight Rating” on Lehman Brothers — “Bruised, Not Broken, Poised for Profitability“. 60 days later, Lehman Brothers filed what was then the largest bankruptcy in the United States. This is (literally) what the category “Really Really Bad Call” was invented for.
Who was the author of this steaming piece of [s**t], and where is he today? Why, he is Patrick Pinschmidt, and he is a Senior Policy Advisor at U.S. Treasury Department! (You could not make up stuff this un-f***ing-believable even if you tried).
- How Not To Solve A Crisis – By Joe Nocera
Joe Nocera is also scheduled to appear on Charlie Rose tonight, maybe discussing this article, among other things. There is a delicious moment in the HBO film “Too Big to Fail” when Christine Lagarde, then France’s minister of finance, calls Hank...
- Larry Fink.....contrarian Indicator?
From June of 2008: "We were one of the investors in the Lehman equity offering...Lehman is not a Bear Stearns situation...Lehman is adequately structured in terms of avoiding a liquidity crisis...We believe we're closer to the bottom than another...
- Us Hedge Funds Capitalise On Lehman Collapse
Thanks to Lincoln for passing this along. It may sound impossible but one of the best financial investments of the past three years has been a collapsed bank. And not just any bank but Lehman Brothers, the world’s biggest bankruptcy. The Wall Street...
- The Financial Zoo: An Interview With Satyajit Das – Part I
Via the Naked Capitalism blog: SD: It’s amazing how much money you can make just shuffling paper backwards and forwards. Malcolm Gladwell wrote a piece praising John Paulson who made a killing from the subprime disaster as an entrepreneur. But what...
- ‘hail Mary’ To Warren Buffett: Untold Details Of Lehman’s Fall - By Matt Phillips
Doubtless, historians will be going over the mammoth 2,200 page report from the Lehman bankruptcy examiner for years to come. But we bloggers are writing the first draft now. And there’s plenty of good fodder on Lehman’s final days, including fresh...