My dearest Motors Liquidation Company (formerly General Motors Corporation) bondholders, just because General Motors Company (the “new” GM) went public today, you will not immediately be receiving any new GM shares in exchange for your bonds. Your bonds are not from the new GM … they are from a previous company which is still in [...]
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The Murder of Lehman Brothers: An Insider’s Look at the Global Meltdown On the first anniversary of the murder of Lehman Brothers, Joseph Tibman, a 20-year veteran and senior investment banker, reveals in plain English, the people and forces that share responsibility for this catastrophe. His shattering account is told as only a true Lehman [...] No More Perks: Coffee Shops Pull the Plug on Laptop Users – WSJ.com A sign at Naidre’s, a small neighborhood coffee shop in Brooklyn, N.Y., begins warmly: “Dear customers, we are absolutely thrilled that you like us so much that you want to spend the day…” But, it continues, “…people gotta eat, and to eat [...] Tuesday’s market: Citigroup up. Morgan Stanley up. Wells Fargo down. Now comes news that Bank of America will need to raise about $35 billion in additional capital, on top of the $45 billion they’ve already received. Will be interesting to see what happens there. In longer term prospects, American International Group, Inc. is trading with [...] Wells Fargo May Need Capital – WSJ.com An initial U.S. stress test identified Wells Fargo & Co. as among the banks needing a buffer against future losses, said a person close to the company. But it was unclear Monday whether Wells would be forced to raise fresh capital or if regulators would accept its argument [...] l’Équipe – Tour de France to welcome doping scandals (AF: PARIS, 01/04/2009) In a move that stunned the racing community, the Amaury Sport Organisation (ASO), promoters of the Tour de France announced today that the 2009 Tour de France will be cancelled unless there is an immediate and large-scale doping scandal. Christian Prudhomme, Director of [...] From Comedy Central, Part 1: From Comedy Central, Part 2: From Comedy Central, Part 3: Financials Weigh on U.S. Futures – WSJ.com U.S. stock futures dropped on Monday after American International Group and HSBC Holdings took steps to raise more capital and Warren Buffett said that the economy would be in “shambles” this year. About an hour before the start of trading in New York, futures on the Dow Jones [...] Picked up The Origin of Financial Crises: Central Banks, Credit Bubbles, and the Efficient Market Fallacy, by George Cooper recently. Yeah, I know … sounds really exciting doesn’t it. But in reality, from what I’ve read so far, the book seems to do a great job of explaining how the global economy has been pushed [...] |
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