• 03 Aug 2009 at 11:04 AM

The Next Stab At Proving That Banks Are Bad

By Greg Michaels

doj.jpgAfter being the dominant provider of index and single name CDS data for years, the credit derivatives vilification campaign has emboldened the Justice Department enough to go after Markit for anticompetitive practices. Figuring that a company owned by some of the most hated firms on the planet which offers pricing information for the primary scapegoat of the financial crisis might give into temptation and impose its status on the market, the Justice Department has likely already declared political victory merely by announcing its investigation. Among the alleged sins are taking a page out of the cable TV playbook and requiring customers to buy bundled services to access the good stuff as well as playing gatekeeper for which CDS trades can be cleared. Evidently the DC braintrust figures if you throw enough conspiracy theories and lawsuits at GS, JPM et al, one of them has to stick eventually.

Comments (11)

  1. 1
    Posted by guest | August 3, 2009 at 11:06 AM

    wow greg you are pretty productivve now you don’t have levin’s tits to stare at all day long!

  2. 2
    Posted by guest | August 3, 2009 at 11:07 AM

    Is she on vacation. UGH, this week is going to be bad

  3. 3
    Posted by guest | August 3, 2009 at 11:14 AM

    Greg, write a post on me, and you will win them.
    -Jeff Macke

  4. 4
    Posted by guest | August 3, 2009 at 11:17 AM

    Solid post.

  5. 5
    Posted by guest | August 3, 2009 at 11:34 AM

    I miss the Levin tits. They are magical.

  6. 6
    Posted by InfiniteGuest | August 3, 2009 at 11:38 AM

    @4 You think?
    I, for one, was surprised to learn that the vilification campaign has been the dominant provider of CDS data for years.

  7. 7
    Posted by guest | August 3, 2009 at 12:00 PM

    Ahhhh, Greg – so, the Falcon has heard the Falconer, huh?…

  8. 8
    Posted by guest | August 3, 2009 at 12:00 PM

    A more Levin-esque headline: Index and Single Name CDS Data Providers Are Bad, M-kay?

  9. 9
    Posted by guest | August 3, 2009 at 12:29 PM

    it is indeed batsh-t nuts to blame banks and credit-default swaps for the financial crisis. they could not possibly be implicated in even the most remote fashion. it is obvious that the prime mover was VALIS, assisted by an evil coterie of urban housing activists stoned out of their minds on Substance D.

  10. 10
    Posted by amsat | August 3, 2009 at 5:13 PM

    Yes I agree with you!
    Todd DiRoberto
    http://biz.clush.com/ToddDiRoberto

  11. 11
    Posted by guest | August 3, 2009 at 5:50 PM

    “Figuring that a company owned by some of the most hated firms on the planet which offers pricing information for the primary scapegoat of the financial crisis might give into temptation and impose its status on the market, the Justice Department has likely already declared political victory merely by announcing its investigation.”
    apparently your trademark is dickhole sentence structure.
    You were an accident.
    -Greggor’s mum.

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