The Swiss have never let unprovoked aggression deter them from doing business with the aggressors, and this long, proud tradition of profiting at others’ expense continues. Plus, they’ve already given up enough lucrative endeavors at the behest of Washington. Read more »
Some hedge fund managers simply cannot believe that the rather unimpressive sanctions imposed in the phony Cold War between Russia and the west (due to the slightly-less phony war between Russia and the Ukrainian navy, itself due to Vladimir Putin’s need for a peninsular paradise in which to vacation, or something) are the end of the story. And, whatever happens, they would prefer not to lose money on the story. Ideally, they’d like to make some. Read more »
Make that two jobs! Russian Regional Development Bank and “a consulting agency named Parness” have welcomed the libidinous former IMF chief with open arms. Read more »
Russia may have the kind of official corruption that would make a Sicilian blush, a fairly weak grasp on the rule of law, a pair of would-be czars trading its top two political posts and, now, more orphans than it can give away. It also may have a stock exchange worth as much as the big one with the columns down on Broad Street.
The Moscow Exchange is going public, and wants the share-buying public to pay between US$4 billion and US$4.6 billion for it. By contrast, the London Stock Exchange has a market cap of about US$5.3 billion, and the New York Stock Exchange is selling itself—and the stock markets in Amsterdam, Brussels, Lisbon and Paris, and the super-desirable Liffe futures exchange—for US$8.2 billion.
Of course, buying the Micex may be a bit riskier than buying NYSE Euronext, what with everyone’s favorite former KGB agent already weighing in. Read more »
The House Of Dougan has apparently said Do svidaniya to a handful of comrades. Read more »
Goldman Equities Trader Will No Longer Wonder What Happens To A Dream (Involving Beating People With Branches) DeferredBy Bess Levin
Back in the day, as in 2007, Wall Street compensated its employees in a way that made them feel loved. In a way that allowed them to repress the true passions they would have been going after if the price were not oh so right. Now, obviously, not so much. Combine that with suffocating regulation and you’ve got a bunch of financial services hacks who are saying fuck this shit– I refuse to waste another day here while my dream of opening a line of Russian saunas in New Jersey slips away. So far just one guy– a Goldman trader in Moscow– has said that, but presumably the floodgates are about to open. Read more »