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Monthly Archives: September 2014
Stock market headed for Minsky moment
“We’re still not wise enough to realize that our current model is a ‘Ponzi’ scheme rushing toward its inevitable ‘Minsky moment’,” Steen Jakobsen, a chief economist at Danish investment bank Saxo Bank, said in a research note on Friday. Here … Continue reading
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Cohan: “Fed exists for the benefit of Wall Street”
More honest comments about investment banking. Bloomberg Contributing Editor Bill Cohan discusses risk taking and incentives on Wall Street. Here is a direct video link.
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Must read: Preventing Economists’ Capture
Further to the glaring capture of the Fed and regulators by the large investment banks, yesterday I read a very important paper by professor Luigi Zingales documenting similar capture among finance and economic academics. The paper is long and detailed, … Continue reading
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