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Moody’s, S&P, and Fitch are three of the others, and they have had almost all the market share; S&P and Moody’s each rated almost 97 percent of the CDOs that were issued prior to the financial collapse.24 One reason that S&P and Moody’s enjoyed such a dominant market presence is simply that they had been a part of the club for a long ti
... See moreNate Silver • The Signal and the Noise: Why So Many Predictions Fail-but Some Don't
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Michael Lewis • Going Infinite: The Rise and Fall of a New Tycoon
Overall, I continue to view the US economy as being of two speeds. Demographic segments and industries that are on the receiving side of the large deficits are generally doing well. On the other hand, segments and industries that are more affected by the Fed’s tight monetary policy (such as housing and commercial real estate and younger or lower-in
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Berne Declaration
Brett Scott • Heretic's Guide to Global Finance: Hacking the Future of Money
“When I picked up my newspaper yesterday, I thought I woke up in France,” said Senator Jim Bunning, the Kentucky Republican. “But no, it turned out it was socialism here in the United States of America. The Treasury secretary is now asking for a blank check to buy as much Fannie and Freddie debt or equity as he wants. The Fed purchase of Bear Stear
... See moreAndrew Ross Sorkin • Too Big to Fail: The Inside Story of How Wall Street and Washington Fought to Save the FinancialSystem--and Themselves
Governments cannot run deficits in excess of the growth in GDP without eventual consequences. As we will see in the chapter covering the research of Rogoff and Reinhart, things go along well until Bang! bond investors lose confidence in the ability of a government to pay its debt, even if that debt is denominated in a currency the government can pr
... See moreJohn Mauldin • Endgame: The End of the Debt SuperCycle and How It Changes Everything
Nassim Nicholas Taleb • Incerto 4-Book Bundle
the uptick rule—regulation that had been introduced by the Securities and Exchange Commission in 1938 to prevent investors from continually shorting a stock that was falling. (In other words, before a stock could be shorted, the price had to rise, indicating that there were active buyers for it in the market. Theoretically, the rule would prevent s
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