Stream of Reading (Prepare to be Forwarded) – An Archive of What I'm Reading
Photo: Getty Normally a glitch is a bad thing. Maybe it means your video game character gets stuck in a wall or maybe a glitch gets you wrongfully arrested. For an Australian man named Luke Moore, a simple bank glitch meant that he was able to blow $1.3 million on cars, travel, strippers and drugs…
A closer look at the yield curve on U.S. Treasurys — one of the more closely watched indicators of overall economic health Understanding the Yield Curve – WSJ.com. Source: Understanding the Yield Curve – WSJ.com
The “most systemically dangerous bank in the world” is in grave trouble. Despite exclamations that there is “no need for additional capital” and that “Deutsche Bank is no Lehman” investors are fleeing the bank’s assets en masse as professionals pile in to buy counterparty risk protection. With the only thing standing between bank runs and…
After weeks of virtual dormancy, a bona fide stock-market selloff took hold on Wall Street. Both the S&P 500 index SPX, -2.45% and the Dow Jones Industrial Average DJIA, -2.13% plunged below their 50-day moving averages, precipitated by a rout in equities and government bonds, like the 10-year Treasury note TMUBMUSD10Y, +4.91% on intensifying fears…
Goldman Sachs has enacted a set of rules that bans the firm’s top employees from contributing to certain campaigns, including the Trump-Pence ticket. The rules kicked in Sept. 1 and will apply only to partners of the firm. The memo detailing the rule change was first reported by Politico. The firm says the rules were…
Peter Thiel‘s funding of Hulk Hogan‘s lawsuit against Gawker showed many Americans, apparently for the first time, that civil lawsuits are sometimes heavily backed by people who aren’t personally involved in the cases. It’s actually grown into a $3 billion “industry” that Legalist, a startup in Y Combinator’s summer batch, is taking aim at. It isn’t…
A “death put” on a certificate of deposit means that the bond matures immediately upon the bearer’s death, rather than when its term runs out: they’re used as a form of life-insurance, cushioning the blow to loved ones from unexpected death, and they can be held jointly, so that the bearer’s heirs and a third…
Hedge fund manager Todd Newman’s successful career was upended when he was prosecuted for insider trading. After his conviction was thrown out on appeal, the case became a landmark in Wall Street regulation. An inside look at what it’s like to be stalked by the feds—and not back down. The phone call that changed…
Philip Hammond MP. Photo: Oli Scarff Note to Philip Hammond: In ALL 32 OECD countries that cut spending, economic growth was seriously damaged 14 Jul 2016, by Geoff Tily in Economics Since 2010, under the direction of international organisations and most economists, governments across the world have cut spending in order to restore public finances…
Yesterday, 17 million Brits voted on a referendum to leave the European Union after a decades-old alliance. One of the chief architects of the #Leave movement was Nigel Farage, a British politician and head of the UK Independence Party. Farage has long championed the so-called Brexit, and triumphantly spoke to supporters after the vote saying,…