Banking | ACRIMONEY, The Wild Wild World of Wealth

Category archive for ‘Banking’

Euro: If It’s Broke, Don’t Fix It?
26 February 10 • 3 comments

Here’s the deal. Hedge funds are betting the Euro will crash against major currencies. The “short-Euro” trade, however lucrative to the gods of Greenwich, raises three scary questions which have one thing in common:
Nobody knows the answer.
Bailout Strategy—Rip Off the Little Guy?
22 February 10 • Comments Off

Who needs TARP to bail out financial institutions? Your local supermarket carries a retail version at the checkout counter. We know the program as “gift cards.” Last week while I was grocery shopping, the gift-card display piqued my curiosity. So I took a few minutes to read the fine print on back of several packages. [...]
Bonus Watch
11 February 10 • 2 comments

Wall St.’s Biggest Bonuses Go to Not-So-Big Names Last Friday the season finale aired to Bonus Watch. Here’s the deal. Jamie Dimon gets $17 million for presiding over JP Morgan’s bungee-jump rebound during 2009. Lloyd Blankfein gets $9 million for doing “God’s work” at Goldman Sachs. Personally, I think their show should be named Lost, [...]
Greeks Take to Streets on Debt Deal
11 February 10 • Comments Off
Greek Crisis: EU Leaders Reach Deal Over Debt In a spontaneous display of euphoria, Greek citizens took to the streets minutes after Eurozone nations agreed to bail out their country. Here is groundbreaking footage direct from Athens: Norb Vonnegut
New Import: “Too Big To Fail”
5 February 10 • Comments Off

“Deckchairs. Titanic” UBS is reorganizing its troubled US wealth management operations—turning three division into two. Zzzzzzz. I know this story packs enough punch to put Sominex out of business. But stay with me, because the UBS problems extend to the core of global financial reform. An unnamed research analyst described the reorganization as follows: “Deckchairs. [...]
How Big is Too Big to Fail?
1 February 10 • 2 comments
Over the past few days, I’ve spent way too much time inside planes and rental cars. And during my travels, I’ve been thinking about one idiom, the one we keep hearing when Washington discusses Wall Street: “too big to fail.” Do we know what it means? Can songwriters explain the essence? Does TBTF have anything [...]