Write-Offs: 11.09.10

Publish date:

$$$ "It has exceeded all my nightmares," said Jeff Meyer, chief executive, reflecting on Gartmore's recent troubles. Earlier this year another fund manager left after being exposed for breaching internal rules. [Telegraph]

$$$ J.P. Morgan, BofA Report Perfect Trading Quarters [WSJ]

$$$Eight Explanations for the Mystery California Missile Launch [NYM]

$$$Wall St. Fuels a Rise in Wages in Manhattan [City Room]

$$$ "Quantitative Easing or QE is a euphemism for monetization of government debt or simply the electronic equivalent of 'printing money,'" Einhorn wrote in his latest letter to investors, which you can read in full here. "We have been expecting that eventually the Fed would be forced to monetize the debt (either during the next recession or if the Treasury ceased to be able to find buyers of its debt at acceptable rates) with dire consequences." [Reuters. Dealbreaker]

$$$ Nouriel Roubini: Here's Why a Gold Standard Won't Work [NetNet]