David Einhorn Explains How Ben Bernanke Is Destroying America
David Einhorn knocks it out of the park with his very first statement during today’s Buttonwood Gathering, in a segment dedicated to one thing only: explaining how the Fed’s policies are not only not helping the economy, they are now actively destroying this country.
“Sometimes you have to look at what is the base assumption. because sometimes you have a groupthink around the [...]
Even just 10 short years ago, the world wasn’t one big market. Global interconnectedness was something we talked about, but it couldn’t be seen everywhere. A market in Frankfurt acted differently from a market in Shanghai, which acted differently from a Brazilian bourse. Diversification made sense—spread your capital around in different parts of the world, and when the German DAX performed poorly, chances were [...]
by Gloomy
Back in 2006 Meredith Whitney was an obscure Wall Street analyst who bit the hand that fed her by declaring housing a bubble and the big banks a disaster. This took guts, both because analysts who dis their research universe tend to lose access and/or their job, and because the overwhelming consensus, from Alan Greenspan on down, held that things were fine, home ownership [...]
- Washington’s Blog
As the BBC noted last week:
Mervyn King, the governor of the Bank of England, has tonight made a big intervention into the debate on banking reform. In a speech at Buttonwood, New York, he [listed] much more radical proposals.
1. Forcing the riskiest banks to hold capital “several times the magnitude” of requirements at present.
2. The Volcker rule-style enforced breakup of banks into [...]
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