Must admit that Andy Kessler’s column in the Wall Street Journal on Citi caught me by surprise … I was really impressed with his book on hedge funds, Running Money – so why was I surprised by his insight into Citi in a recent Wall Street Journal piece, where he notes that Sandy Weill hit [...]
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In Sunday’s New York Times, Eric Dash and Julie Creswell take apart the failed risk management practices at Citigroup in a detailed article that draws on extensive comments from bank insiders. Much of the cause will be no surprise – traders overpowered the risk managers, a senior risk manager was good friends with the guy [...]
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American politicians were hitting the Sunday morning talk shows assuring the public that Freddie and Fannie, the big government-backed mortgage finance companies, were in fine shape. So it didn’t surprise anyone, did it, when the Monday papers announced new measures to provide them stronger backing from the US Treasury. Are news crews staking out the [...]
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For a couple of weeks I have been writing about banking and regulation and the possibility, make that likelihood, that a Democratic regime in the US will be looking at an extensive set of new regulations. Is the financial services industry making any effort to get out in front of this? Not as far as [...]
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