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- Fed Downgrades Economic Forecast; Where Are the Green Shoots Now?
- Kid Dynamite submits: Kudos to Ben Bernanke and Tim Geithner for orchestrating one of the great public relations rallies of all time - certainly the best spin-job I can remember. Why do I say "spin job?" Well, it seemed obvious to me that during the entire rally off the...
- External links 2009-05-21
- A Few Thoughts on Recent Events
- Kid Dynamite submits: Thanks to everyone who took the time to read my most recent post, "We Fear What We Don't Understand" on the topic of some common high frequency trading misconceptions. I appreciate the positive feedback which illustrates the intelligence of my audience here.Yesterday morning, I was surprised...
- External links 2009-07-31
- Fed Manipulates Stock Prices
- Kid Dynamite submits: Must read piece today from The Atlantic, "The Final Days of Merrill Lynch." Just when you thought that the insane saga of Bank of America's BAC acquisition of Merrill Lynch was fading back into the shadows, this piece comes out and reinforces the insanity...
- External links 2009-08-13
- Life Insurance Securitizations: Making the Value Paid to Policyholders More Competitive
- Kid Dynamite submits: I read an interesting article last night on NYTimes.com about securitizing life insurance settlements. The gist of the process is this: you have an elderly person, say, 72 years old, who needs money badly. This person, let's call her Ethel, has a life insurance policy that...
- External links 2009-09-06
- If the FDIC Is Broke, Why Are They Still Issuing Guarantees?
- Kid Dynamite submits: The point of my post yesterday about the FDIC was not to point out that the FDIC is broke - everyone knew that. The FDIC's release Tuesday gave us some serious insight into just how bad the financial situation is: the FDIC's estimates for losses...
- External links 2009-10-01
- How Hard Is It to Transfer Credit Card Debt?
- Kid Dynamite submits: I forgot to talk about another MISH post that was interesting, regarding Citibank's C decision to jack credit card rates to 29.99% on a number of customers. My first thought is one of adverse selection - Citi's decision would force any sane person who...
- External links 2009-10-27
- Dark Pools: Calling Out Matt Taibbi
- Kid Dynamite submits: So, I wrote this explanation of the reality of dark pools on Tuesday. Then, after having a few going away drinks with some friends, I read Taibbi's piece "Goldman Lobbies Senate, Says Full Transparency Sucks," which pretty much proved my point - that people railing against...
- External links 2009-10-28
- A Sit Down with Treasury Officials (Part I)
- Kid Dynamite submits: I received a mysterious email last week from the Treasury, inviting me to a discussion about the Administration's policies and reactions to the economic crisis. Although the timing sucked for me - it was the Monday following the weekend of my move out of NYC...
- External links 2009-11-04
- A Sit-Down with Treasury Officials (Part II)
- Kid Dynamite submits: In Part One of the recap of my trip to the Treasury, I outlined the questions and answers related to variations on the concept of "extend and pretend" - the refusal to acknowledge bad debts and instead attempt to stick our proverbial policy finger in the...
- External links 2009-11-05
- Additional Thoughts on GLD
- Kid Dynamite submits: So I wrote this piece a few days ago as soon as I read that Einhorn swapped his GLD for physical bullion, anticipating that it would bring out more cries about how the GLD is a scam. Not but a few hours later, SeekingAlpha published an...
- External links 2009-07-18
- In Defense of GLD
- Kid Dynamite submits: One group of people that's even more fanatical than the Goldman Sachs GS conspiracy theorists are the Goldbugs. As I read David Einhorn's Greenlight Capital quarterly letter last night, one thing jumped out at me: We made a couple of modest changes to...
- External links 2009-07-17
- AIG Dumps Two Toxic Assets on the Fed
- Kid Dynamite submits: [[AIG]], unable to sell its two "crown jewel" businesses to anyone for real money, has slapped theoretical values on them and transferred stakes to the Fed in exchange for a reduction in the debit balance they have with the Fed.In layman's terms: AIG tried to...
- External links 2009-06-25
- Financial Blog Watch: Don't Believe Everything You Read
- Kid Dynamite submits: One of the mantras my supervisors taught me on the trading desk was not to make other people smarter - if you hear someone say something that you know to be incorrect, assuming they don't work for your firm, you let them go on with...
- External links 2009-06-28
- NYSE's Rule Change Is for Transparency, Not a Conspiracy
- Kid Dynamite submits: It really shouldn't be this hard. I don't want to spend every day correcting the ignorant rantings of other bloggers, but when they completely misunderstand simple press releases in my area of expertise, I can't help myself. Last week I addressed some misunderstandings...
- External links 2009-07-02
- Goldman Sachs: No Global Financial Espionage Story Here
- Kid Dynamite submits: I was nice and relaxed Sunday evening, popped open a few websites to check for evening business news, and came across the latest shitstorm that's circulating with ZeroHedge in the eye of the storm.Last week Zerohedge wrote a post about Goldman Sachs' GS continued dominance...
- External links 2009-07-06
- Here's Why the NYSE Really Changed the Reporting of Weekly Program Trading Stats
- Kid Dynamite submits: I can't believe I go distracted from the simple truth behind the NYSE's change in the reporting of the weekly program trading statistics that I missed the obvious explanation. I spent several posts debunking conspiracy theories and blatantly incorrect assessments of the future of...
- External links 2009-07-07
- The Lawlessness of Large Numbers
- Kid Dynamite submits: I graduated college in 1998 and went to work on Wall Street. Amazingly, in just the last 10 years in the markets, I've seen several major financial events. The first was the collapse of LTCM in the wake of the Russian debt crisis. The second...
- External links 2009-07-08
- In Support of Goldman Sachs
- Kid Dynamite submits: Many thousands of words have been written about Goldman Sachs GS lately, and here are 3 worthy reads: 1) Clusterstock criticizing Taibbi's Rolling Stone piece. (Megan McCardle's criticism too). by Kid Dynamite
- External links 2009-07-15
- New Proposals and More on Goldman Sachs
- Kid Dynamite submits: Yesterday I wrote about misplaced blame. I think the general public is mad at Wall Street, when in reality they should be mad at the government for the way it's treating coddling Wall Street. When we funnel tens of billions of taxpayer dollars to these firms,...
- External links 2009-07-17
- CDS Regulation: Just One Simple Rule
- Kid Dynamite submits: Warning: this post will require you to be able to intelligently ponder philosophical concepts and theories, and perhaps try to forget some assumptions you may already have. I failed in my attempt to explain the concepts below in a comment thread on NakedCapitalism, so...
- External links 2009-11-08
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