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Category Archives: Pickle
Judge Won’t Approve Citi-SEC Pact – WSJ.com
You can’t prosecute a company on the basis of a [internal] miscommunication. Mistakes were made.
Fed Adopts Rules to Help Protect Mortgage Borrowers – NYTimes.com
The Fed announced that it was adopting new rules banning yield spread premiums, which allowed mortgage brokers and lenders to gain additional profit from loans by charging borrowers higher-than-market interest rates.
Investors Doubt Mortgage-Bond Revival Until 2012, Moody’s Analysts Say – Bloomberg
Predictions must be just far enough out that no one will remember when they don’t come to pass. In fairness, through, the story does say no sooner than 2012.
Goldman Sachs Bans Naughty Words in Emails – WSJ.com
In the spirit of the times, there is no written directive specifying which curses now are officially cursed. Gosh. Gee whiz. Golly. Holy cow! Presto chango, all you traders are now alter boys and little miss perfects. And, since we … Continue reading
Posted in O mores, Observatorio, Pickle, Rod Serling, Words
Tagged sacred and profane
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Financial Bill to Close the Regulator of a Fading Industry – NYTimes.com
Its time had come and we should not lament its passing.
New Statesman – Beware those Black Swans
Don’t let someone making an ‘incentive’ bonus manage a nuclear plant – or your financial risks: Odds are he would cut every corner on safety to show ‘profits’ from these savings while claiming to be ‘conservative’. Bonuses don’t accommodate the … Continue reading
Negative assurance may never be the same again
Negative assurance letters have a long tradition of counsel disclaiming responsibility for numbers, although they are more than happy to sends associates to the (now virtual) printers to eyeball every one of them. So, it will be interesting to see … Continue reading
Mr. Toad’s Wild Ride
Except for a brief stint helping to set the stage for the California electric deregulation debacle, I spent my entire legal career in, but not of, the worlds described by Michael Lewis in this pair of nonfiction financial thrillers that … Continue reading