Equity Private

  • News

    Too Small To Fail(ed States)

    Liechtenstein, and its citizens, have long been more than a little strange. All microstates are a little strange, being, like Liechtenstein the, polar political opposite of failed states. Failed states are plagued by institutions too weak to prop up the flaccid rule of law, and thereby permitting “shadow institutions” (the black market, organized crime, official […]

    / Aug 11, 2009 at 2:14 PM
  • News

    Spin The Bottle

    Someday Poland will grow up and realize that issuing more debt, not selling assets, is what modern economies do during a fiscal crisis. Don’t worry though, Poland, we will still be around when you decide to join the cool kids debtors club. Poland’s Cabinet approved a plan to sell stakes in state-owned companies including KGHM […]

    / Aug 11, 2009 at 1:25 PM
  • News

    Some Kind Of Urgency

    Caught by one of our readers, this month’s version of “juxtapositional comedy” care of the Wall Street Journal: In Today’s Paper [The Wall Street Journal]

    / Aug 11, 2009 at 12:50 PM
  • News

    Department of Housing and Urban Development Is Calling A Real-Estate Bottom

    That’s the most obvious interpretation of the news that Westchester Country ($116,916 median household income to a New York and United States average of $51,001 and $61,117 according to the 2000 census) agreed to build a slew of “affordable housing” in a settlement with the Department of Justice and HUD over Westchester’s supposed failure to […]

    / Aug 11, 2009 at 10:55 AM
  • News

    GM And eBay

    As Dealbreaker readers will already been keenly aware, American automotive firms have been beset by difficult market conditions including too many customers, too few customers, high material prices, low material prices, insufficient resale value, excessive resale value. You will be happy to know that the management team has been working overtime and come up with […]

    / Aug 10, 2009 at 5:54 PM
  • News

    State Of The State Street

    There is this recursive sort of double-take one does on learning that a firm is on the verge of exhausting its legal reserve. First, that the firm needed a large legal reserve. Second that it was exhausted. Third, that “large” in this instance is $650 million. Whoosh! Somewhere there is a fantastic punch line in […]

    / Aug 10, 2009 at 3:23 PM
  • News

    Dealers Just Can’t Catch A Break

    New York Attorney General Andrew Cuomo is shocked, shocked to discover that misleading advertising is going on in here. Sell too few cars? Get dropped. Sell too many? Get dropped. Turn around and start issuing misleading advertising New York Attorney General Andrew Cuomo today told 40 auto dealers across the state to stop issuing misleading […]

    / Aug 10, 2009 at 1:19 PM
  • News

    Leave Lenny Ah-lone!

    Don’t get us wrong. We know where our bread is buttered. But, that said, there seems to be a lot of piling on going on. For instance: George Griffith of the trustee’s office said Dykstra signed a “real property questionnaire under penalty of perjury,” claiming insurance on the mansion did not expire until December. But […]

    / Aug 10, 2009 at 11:55 AM
  • News

    Pequot Is The Gift That Keeps On Giving

    Amusingly, it wasn’t 6 months ago that Pequot managed to capture the much-coveted “probably won’t go under” award (technically the “Pulliamp-Strasburg Likely Survivors Amid Turmoil in the Industry” award) issued by the Wall Street Journal to the most middling hedge-fund. More amusingly, it only three months and change from there before Samberg had “…concluded that […]

    / Aug 10, 2009 at 10:47 AM
  • News

    SPECIAL OBVIOUS REPORT: Cocaine Contributing Factor In Death Of OxyClean® Guy

    CNN is reporting that the Hillsborough County, Florida medical examiner has listed Cocaine as a contributing factor in the death of Billy Mays. Who knew? The situation is fluid. (Embalming). Autopsy: Cocaine a factor in Billy Mays’ death [CNN] Related:

    / Aug 7, 2009 at 8:13 PM
  • News

    Presented Without Comment

    A California man was charged Thursday with bilking investors of $3.3 million while posing as an Oscar-winning designer of sound effects. Investigators say Carrington used some of the proceeds of his crimes to buy a 2003 Lamborghini Murcielago, a 2005 Hummer H2 and a 2006 Mercedes SL500R, with a combined value of almost $500,000, the […]

    / Aug 7, 2009 at 6:41 PM
  • News

    Dodd Just As Entitled To Private, VIP American Dream Of Home Ownership As Towns, Damnit!

    The Senate Ethics Panel says so. So there. Ok, they had some other notes to add too, but no one is trying to take the Dream away. No one: But in absolving Mr. Dodd, the chairman of the Senate Banking Committee, the Senate Select Committee on ethics said he should have shown better judgment in […]

    / Aug 7, 2009 at 3:31 PM
  • News

    Even Members Of The House Oversight And Government Reform Committee Are Entitled To The American Dream Of Home Ownership

    And so why should we find it even remotely alarming that Rep. Edolphus Towns (D-NY) would be a member of the VIP lending program at Countrywide? (If, in fact, he is). He seems to be: A powerful House Democrat who has turned down a Republican’s call to subpoena records of a mortgage program at Countrywide […]

    / Aug 7, 2009 at 1:52 PM
  • News

    Voodoo Economics Gets Stein Canned

    Imagine for a moment, on some overlooked island chain in the heart of the South Pacific, an otherwise obscure tribe has lived quietly for hundreds of years. Suppose further that their culture happens to have 27 different words for the concept of “Irony,” each possessed of a fantastically unique and nuanced umbra of distinctive interpretation. […]

    / Aug 7, 2009 at 10:40 AM
  • News

    Presented Without Comment (Except The Unbridled Laughter You Hear In The Background)

    Fannie Mae is seeking an additional $10.7 billion in government aid after posting another massive quarterly loss as the taxpayer bill from the housing market bust keeps growing. Fannie Mae seeks $10.7B in US aid after 2Q loss [Associated Press]

    / Aug 6, 2009 at 6:55 PM
  • News

    Park The Car In Harvard Yard We’re Going To A Party

    Obviously, bold displays of ostentatious wealth, power, elitism, or exclusivity seem misplaced in the present environment. So much so that one wonders if, some years hence, we might not look back on this period as the “anti-too-big-to-fail” period. Or the “anti-big” period. Or the “anti-too” period. Or just a reactionary spasm of frothing (and highly […]

    / Aug 6, 2009 at 6:32 PM
  • News

    Take The Plunge

    Profiling Abby Joseph “The Oracle” Cohen’s fall out of the financial cheerleading tree, CNBC’s JeeYeon Park managed to hit (and break) every metaphoric branch on the way down. Between the two of them, no rhetorical equity booster is left unbowed, including: “…held up during the difficult portion of the recession.” (It being all behind us […]

    / Aug 6, 2009 at 4:41 PM
  • News

    French Insider Traders Fart In Your General Direction

    True, French bankers are masters of the disdainful frown, delivered with great poise and bitterness even when breaking the news that the client’s entire fortune was, in fact, invested with Bernie Madoff. But even among these captains of the curmudgeon, occasionally a standout emerges. In the case of the SocGen insider trading probe, we are […]

    / Aug 6, 2009 at 2:52 PM

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