In a message dated 3/17/2003 11:29:51 PM Eastern Standard Time, [EMAIL PROTECTED] writes:
Small
banks earn from the interest rate differentials; presumably, large banks
from fees. But why would banks pay a premium for the small banks? What
sort of fees would they generate?
As the article
In a message dated 3/17/2003 7:36:40 AM Eastern Standard Time, [EMAIL PROTECTED] writes:
With such enormous
apparent collateral, telecoms firms could borrow without limit. Between 1996
and 2000 they took on $800 billion in bank debt and issued an additional
$450 billion in bonds
Following
In a message dated 3/9/2003 12:48:40 AM Eastern Standard Time, [EMAIL PROTECTED] writes:
"We try to be alert to any sort of megacatastrophe risk, and that
posture may make us unduly apprehensive about the burgeoning quantities
of long-term derivatives contracts and the massive amount of
In a message dated 3/8/2003 10:49:33 PM Eastern Standard Time, [EMAIL PROTECTED] writes:
Thanks to the efforts of Eliot Spitzer, the New York attorney whose
investigations into banks unearthed some of the worst excesses, those that
remain have had to clean up their act. Most of the big firms have
Hi everyone,
With the economy continuing its downward spiral and today's depressing jobless figures - here's a piece I wrote for the current issue of Dollars and Sense, hopefully balancing the bad with the good. Your comments would be most welcome.
Best,
Nomi
Dollars Sense
March-April 2003
In a message dated 3/4/2003 1:46:40 AM Eastern Standard Time, [EMAIL PROTECTED] writes:
The cost
is to the rate payers, although tax payers will pay a small amount.
Aren't the rate payers (beyond corporate users who will probably deduct higher expenses) the same people that pay taxes, just
In a message dated 3/3/2003 1:15:39 PM Eastern Standard Time, [EMAIL PROTECTED] writes:
I'm not Gene Coyle, but according to Jackie Goldberg, a progressive Democratic member of the legislature, none. It's the rate-payers (those who pay for power) not the tax-payers who are paying for the mess.
In a message dated 2/23/2003 2:18:18 AM Eastern Standard Time, [EMAIL PROTECTED] writes:
But
these publicised cases are a tiny fraction of the total, probably less
than 10 per cent. Much of the really ugly stuff is swept away, the women
paid off and gagged with confidentiality clauses, long
In a message dated 2/23/2003 4:50:53 PM Eastern Standard Time, [EMAIL PROTECTED] writes:
I visited the FAO Schwartz toy store at a local shopping mall and saw a child-sized Humvee (that actually runs!) for only $30,000! (US dollars!)
and to think must-have gems like a 30K Humvee couldn't keep
In a message dated 2/13/2003 9:33:38 PM Eastern Standard Time, [EMAIL PROTECTED] writes:
Friday February 14, 2003
The Guardian
There have been three major changes in financial markets in the past 15 years.
First, financial instruments became increasingly complex and were used to
manipulate
In a message dated 1/18/2003 12:57:27 PM Eastern Standard Time, [EMAIL PROTECTED] writes:
BANKERS OF THE WORLD, UNITE!
>From a research note circulated in November by Morgan Stanley to its North
American clients.
At the risk of encouraging the ghost of Joe Hill to come back and haunt us,
we
In a message dated 1/15/2003 7:14:03 AM Eastern Standard Time, [EMAIL PROTECTED] writes:
Actually the relationship was the opposite: corporations borrowed huge
amounts of money to purchase their own stock! Thereby increasing the
price of its stock to the benefit of the top executives. In the late
Are they serious? How much Federal funding does Berkeley get from defense, energy and other war-related areas?
Nomi
January 14, 2003
Old Words on War Stirring a New Dispute at Berkeley
By DEAN E. MURPHY
New York Times
BERKELEY, Calif., Jan. 13 — In her own day, the Russian-born anarchist
In a message dated 1/14/2003 4:30:30 PM Eastern Standard Time, [EMAIL PROTECTED] writes:
Interesting. The question is whether Arthur Levitt's 1998 speech, in which he seems so aware of fraud potential (though he doesn't ever use the term fraud, he uses words like 'hocus pocus'), wasn't just a
In a message dated 1/10/2003 10:39:24 PM Eastern Standard Time, [EMAIL PROTECTED] writes:
Can anyone direct me to a source of equivalency stats, such as
1 B52 bomber = funding for the entire LA school system for one year,
that type of thing. And can anyone from their experience or their
In a message dated 1/11/2003 6:49:26 PM Eastern Standard Time, [EMAIL PROTECTED]
writes:
Tommy Mottola is leaving Sony with a $20 million severance package,
plus they're financing a new record label for him. Compare
that with
a 13-week extension in UI benefits!
It's truly disgusting. It
In a message dated 1/7/2003 12:12:23 PM Eastern Standard Time, [EMAIL PROTECTED]
writes:
This idea of eliminating the tax on dividends is outrageous on
so many levels, one hardly knows where to start.
Ellen, this is an awesome post!
Second. To the extent that this puts pressure on firms
In a message dated 1/2/2003 9:09:24 AM Eastern Standard Time, [EMAIL PROTECTED] writes:
Comments?
"Yet for all that increased attention, it's difficult to say that the enlarged business media played a decisive role in exposing the shortcomings of American corporate practices."
Not that
In a message dated 12/30/2002 3:14:54 PM Eastern Standard Time, [EMAIL PROTECTED] writes:
No, power plants (in California) were sold AFTER
the law was passed. The conventional wisdom was that the old plants
would not be able to compete with the efficient and smarter new
operators -- as it
In a message dated 12/31/2002 1:19:02 PM Eastern Standard Time, [EMAIL PROTECTED] writes:
Nomi, In my short answer I seem to have misled you about Enron's role
in California. Enron was a major driver of the process -- not only in
California but nationally.
Gene, you weren't misleading. You
In a message dated 12/29/2002 9:45:53 PM Eastern Standard Time, [EMAIL PROTECTED] writes:
So he didn't see an equilibrium but oscillation between extremes.
Hadley later became President of Yale (1920?) and I think might have
been president of the AEA. Hadley's passage from 1896 is pretty close
In a message dated 12/30/2002 12:59:11 PM Eastern Standard Time, [EMAIL PROTECTED] writes:
3) bizarre dereg aimed at replacing the regulation of natural monopolies (such as electrical power generation and distribution) with a split market.
Jim, was there an outcry in California before that
In a message dated 12/24/2002 4:54:47 PM Eastern Standard Time, [EMAIL PROTECTED] writes:
Of course the DP exists for the sole purpose of preventing such action
-- i.e. for the purpose of preventing self-knowledge, in the sense
defined above, among the general public. The DP is the chief center
In a message dated 12/23/2002 8:21:06 PM Eastern Standard Time, [EMAIL PROTECTED] writes:
so why advertise the
fact that business as usual continues and that the looting will not stop so
long as there is something to loot.
Kind of apropos of another song from Chicago, performed by the lawyer
In a message dated 12/23/02 11:00:07 AM Eastern Standard Time, [EMAIL PROTECTED] writes:
Would a stronger fine indicate a seriousness that would create pressure to
go after higher-ups (Weil?)?
Maybe. But, the main problem with fines is that they come with 'no admission of guilt' clauses. None
In a message dated 12/23/02 10:16:45 AM Eastern Standard Time, [EMAIL PROTECTED] writes:
There was an instant poll on
the CBS MarketWatch site last Friday that asked readers whether they thought
this settlement was severe enough on the banks, and 80% said no. That's not
a scientific survey,
In a message dated 12/23/2002 1:54:25 PM Eastern Standard Time, [EMAIL PROTECTED] writes:
Guiliani as tragedy, Spitzer as farce
So, who plays Spitzer in the movie about how the little guy beats the corporations in time for Christmas?
Nomi
In a message dated 12/22/02 6:36:53 AM Eastern Standard Time, [EMAIL PROTECTED] writes:
Just of curiousity, Nomi, what do you think of these fines that have been
leveled against the Wall Street banks? Grouped together as a global
number, $1.4 billion certain sounds like a lot of money; it's
In a message dated 12/18/2002 10:39:38 PM Eastern Standard Time, [EMAIL PROTECTED] writes:
It was also the year when once untouchable companies collapsed at an
unprecedented rate. Five of the top 10 bankruptcies in US history
occurred during 2002: Enron, WorldCom, Global Crossing, United Airlines
In a message dated 12/12/2002 1:41:33 AM Eastern Standard Time, [EMAIL PROTECTED] writes:
For instance, at a time when Wall Street executives say a $100 million
daily trading profit was considered sizable for a major trading
operation, Enron recorded a $485 million profit on Dec. 4, 2000. For
In a message dated 12/7/2002 11:07:00 AM Eastern Standard Time, [EMAIL PROTECTED] writes:
Eh? Why did Wall Street rally on the announcement of his departure,
after taking an early morning hit on the weak U.S. employment report?
They never liked him. It'll be very interesting to see if Bush
In a message dated 12/6/02 11:19:47 AM Eastern Standard Time, [EMAIL PROTECTED] writes:
Bad metaphors make bad policy. Everyone talks about the "information highway." But in economic terms the telecommunications network resembles not a highway but the railroad industry of the robber-baron era -
In a message dated 12/6/2002 12:02:54 PM Eastern Standard Time, [EMAIL PROTECTED] writes:
Nomi could have mentioned that Colin P. was on the board of AOL, wasn't
he??
Absolutely. Colin Powell was on the board of AOL. He resigned on January 11, 2000, the same day the FCC issued its approval of
In a message dated 12/5/2002 2:01:39 PM Eastern Standard Time, [EMAIL PROTECTED] writes:
Southwest has unions and has been profitable each year of operation,
with high employee and customer satisfaction, no?
UAL salary / wages amount to 41% of their total expenses, roughly the same ratio as
In a message dated 12/5/2002 1:14:41 PM Eastern Standard Time, [EMAIL PROTECTED] writes:
Note that they pay modest fines compared to what revealing the
information might cost. Very intelligent economic behavior.
yeah - insignificant fines. This brings the sum of Wall Street fines for this recent
In a message dated 12/1/2002 2:02:03 AM Eastern Standard Time, [EMAIL PROTECTED] writes:
Although the agency has managed to file a record number of cases this year
and has adopted a series of tough rules, officials say the commission's
divisions have lost ground in their efforts to keep up with
Hi,
Does anyone have a good source for petty crime stats?
I'm specifically looking for breakdowns by type and amount stolen:
i.e. total or average value stolen per year from liquor stores, 7-11s, homes, etc.
Thanks,
Nomi
This bill passed in the Senate 86-11. The Dems all waved it through. The 11 Republican dissenters included Phil Gramm who said the bill "discouraged development of a private terrorism insurance market" (something no economy should be without).
It's win-win for insurance companies -- they can
In a message dated 11/24/2002 6:29:10 PM Eastern Standard Time, [EMAIL PROTECTED] writes:
Why aren't the Democrats complaining about the tax cuts more loudly? Are
they trying to ensure a crushing defeat in 2004? There's going to be a
serious negative fiscal crunch this year. California alone
In a message dated 9/27/02 9:17:55 PM Eastern Daylight Time, [EMAIL PROTECTED] writes:
This article is fascinating. Market enthusiasts proclaim that
markets are magnificant processors of information. This article
desribes how markets are driven by frenzy more than by
information.
Yeah - amazing
[EMAIL PROTECTED] writes:
Further, the banks have been suffering from competition from other sectors, such as money market mutual funds and (for corporations) the commercial paper market. There is no trend toward monopolization of financial markets, as far as I can tell, so those with sufficient
In a message dated 9/18/2002 12:27:43 PM Eastern Daylight Time, [EMAIL PROTECTED] writes:
yes, but the contagion is more likely the more integrated the system.
I agree, though not just viewing contagion as a local vs. national issue, but as a single financial service provider vs. financial
In a message dated 9/17/2002 12:03:12 PM Eastern Daylight Time, [EMAIL PROTECTED] writes:
[Dingell's, no Henry Gonzalez but maybe he's going to climb the learning
curve]
Dingell's an odd one. He's close buddies with the NRA, a major proponent of further telco deregulation, yet he's
In a message dated 9/11/2002 6:58:05 PM Eastern Daylight Time, [EMAIL PROTECTED] writes:
This morning on Democracy Now, Juan Gonzalez made an interesting claim
regarding the pollution fallout from the World Trade Center.
The rush to open the stock market put the city and others into a box so
In a message dated 9/11/2002 8:02:09 PM Eastern Daylight Time, [EMAIL PROTECTED] writes:
One of these days somebody should write a first-rate expose on this
rotten firm, which never seemed to have gotten the bad press of places
like Salomon Brothers (another former employer of mine.)
Agreed.
In a message dated 9/3/2002 9:18:41 PM Eastern Daylight Time, [EMAIL PROTECTED] writes:
After all the investors in these securities are not stupid - most are large institutions (they usually have to meet certain requirements to access such instruments) - and in part that is the shoe that has yet
In a message dated 9/4/02 10:19:29 PM Eastern Daylight Time, [EMAIL PROTECTED] writes:
no mention of it's Latin America presence and money laundering.]
or Robert Rubin, or repeal of the Glass Steagall act which allowed Citigroup to thrive by extending loans via Citi's giant balance
In a message dated 9/2/2002 1:15:08 PM Eastern Daylight Time, [EMAIL PROTECTED] writes:
One of the companies I worked at used this "tool"
and I read about many more firms who made similar arrangements,
sometimes using special purpose entities that are controlled by
the firm. This is an
In a message dated 8/21/02 1:15:41 AM Eastern Daylight Time, [EMAIL PROTECTED] writes:
Williams is paying 30% interest on a $900 million, 1-year loan from Lehman Brothers and Warren Buffett’s Berkshire Hathaway. Williams obtained the loanearlier this month as part of its plan to increase
In a message dated 8/20/2002 12:53:56 PM Eastern Daylight Time, [EMAIL PROTECTED] writes:
After an investment boom there's too much capital equipment to use
profitably, and it has to get worn out before new investment can
start again.
And in this particular boom, a tremendous amount of bond
In a message dated 8/15/2002 10:41:05 AM Eastern Daylight Time, [EMAIL PROTECTED] writes:
Redistribution might happen if a company pushes up its stock prices by pushing its employees or their pension funds to buy the stock, while the CEO and other insiders are selling stock.
Millions of
In a message dated 8/14/2002 1:05:18 AM Eastern Daylight Time, [EMAIL PROTECTED] writes:
It's just the only in-depth description of the charges I've
been able to find, and this is pretty significant news IMO.
The notes from the House subcommittee of the financial services committee from May
52 matches
Mail list logo
