Stream of Reading (Prepare to be Forwarded) – An Archive of What I'm Reading
Back in May, I penned a missive entitled “If You Don’t Like It, Change It” which discussed the pending changes to the GDP calculation by the Bureau of Economic Analysis (BEA). To wit: “Now, for all of you playing the home version of “Nail That GDP Number,” it was just a couple of years ago…
article start Curtis James Jackson III, the rapper better known as 50 Cent, filed for chapter 11 bankruptcy protection Monday. In court papers filed in the U.S. Bankruptcy Court in Hartford, Conn., Mr. Jackson reported assets and debts each in the range of $10 million to $50 million. The attorney listed on the bankruptcy petition…
However this story ends (and we have no idea what the next few hours will bring), Sunday 12 July will go down as a landmark moment in European history — alongside Rome in 1957, Maastricht in 1992 and Cannes in 2011. For the first time, the leaders of the 19-member euro area officially discussed plans for the…
Ladies and gentlemen, behold the first sighting of the new Greek drachma: Between June 28 and July 4 at a Hilton hotel in Athens, transactions on a Bloomberg reporter’s Visa credit card issued by Citigroup Inc. were posted as being carried out in “Drachma EQ.” The inexplicable notation — bear in mind, the euro remains Greece’s…
A New York judge on Monday threw out charges accusing a former computer programmer of stealing code from Goldman Sachs, bringing a six-year battle toward a close and highlighting how America’s legal system has failed to keep up with the rapid changes of the digital age. In the end, the protracted trial of Sergey Aleynikov,…
After failing to criminally prosecute any of the financial firms responsible for the market collapse in 2008, former attorney general Eric Holder is returning to Covington & Burling, a corporate law firm known for serving Wall Street clients. The move completes one of the more troubling trips through the revolving door for a cabinet secretary. Holder worked at Covington…
While the Chinese recently found out that making money from trading is, in fact, not “easier than farmwork,” it appears in America, trading stocks is back en vogue… Meet 2014 Playmate of the Year, Kennedy Summers, who has given it all up to become a day trader… Trading Stocks – It’s Easier Than Farmwork… And…
Standard & Poor’s Ratings Services lowered Greece’s credit rating one notch further into junk territory on Tuesday, saying Prime Minister Alexis Tsipras is threatening the country’s economic stability by sending creditors’ latest proposal to a public vote. The country’s long-term credit rating was lowered to “CCC minus,” from “CCC.” The ratings agency said it now…
Greek banks are to remain closed and capital controls will be imposed, Prime Minister Alexis Tsipras says. Speaking after the European Central Bank (ECB) said it was not increasing emergency funding to Greek banks, Mr Tsipras said Greek deposits were safe. Greece is due to make a €1.6bn (£1.1bn) payment to the International Monetary Fund…
While the turmoil that rocked bond and currency markets in past weeks has been mostly absent from equities, it won’t be forever, options traders speculate. They’re building hedges against equity swings to levels not seen in eight months, according to contracts tied to the benchmark gauge for U.S. stock volatility. Judging by the most popular…