10 Sunday AM Reads

September 13, 2015 7:00am by

Ahhhh, the weekend. Settle in for some easy-like Sunday morning reads:

• Where Active Management Succeeds (or Fails) (Morningstar)
• The Bloomberg Terminal, a Wall Street Fixture, Faces Upstarts (Dealbook)
• How to Invest Money When You Don’t Have Any (Vice)
• QE Timeline Update (Calculated Risk)
• Keep in Mind, Stocks Rose 1,100-fold During This Period (Motley Fool)
• Uber Would Like to Buy Your Robotics Department (NYT)
• Christie’s latest scandal could finally sink him (NJ.com) see also One More Hard-to-Believe Scheme From the Bridge Scandal State (NYT)
• The Pope Is Ready to Trash Capitalism to Money-Loving Americans (Bloomberg)
• 14 Years After 9/11, the War on Terror Is Accomplishing Everything bin Laden Hoped It Would (The Nation) see also The Cost of a Fear-Based Policy (New America)
• Haunting photos of a dead Ohio mall in ruins (Business Insider)

What are you reading?

 

 

European Bank Lending to Non-Financial Corporations, Annual Change

Source: Quartz

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  2. OkieLawyer commented on Sep 13

    Bloomberg’s The Benchmark Podcast : The U.S. Economy’s Silent Menace

    The guest argues that the American economy’s silent menace is productivity; and that all of the productivity gains have already been invented. He holds out hope for more innovation, but that rent-seeking has undermined the benefits of innovation. He stated that the income gains during the 1990s were an anomaly, and that the current sluggish growth is historically normal.

    At least, I hope I got that right.

    • RW commented on Sep 13

      I think you got it but Bosworth seems to have an unduly restrictive notion of value or what constitutes technology for that matter. He acknowledges the influence of rent seeking but his comments open a topic in what appears to be a rather clear positive feedback loop (there may not have been enough interview time): rent seeking and the generation of ever more policies favoring rent seekers (lobbying power) actively suppresses innovation and/or related productivity gains; e.g., copyright and patent trolling or monopoly, lemon socialism and crony capitalism, loss of labor share (in whatever productivity gains exist) and weaker worker protections, etc.

    • willid3 commented on Sep 13

      if wage gains are about increased productivity, then what productivity gains have executives had that has lead to such out sized pay? seems like the same lack of productivity gains should also apply doesnt it?

  3. RW commented on Sep 13

    Now the DOJ Admits They Got it Wrong

    By issuing its new memorandum the Justice Department is tacitly admitting that its experiment in refusing to prosecute the senior bankers that led the fraud epidemics that caused our economic crisis failed. The result was the death of accountability, of justice, and of deterrence. …

    We have known for millennia that allowing elites to commit crimes with impunity leads to endemic fraud and corruption. …I renew my long-standing offers to the administration to, pro bono, (1) provide the anti-fraud training and regulatory policies, (2) help restore the agency criminal referral process, and (3) embrace the whistleblowers and the scores of superb criminal cases against elite bankers that they have handed the Department on a platinum platter. We can make the “new” Justice Department policy a reality within months if that is truly Obama and Lynch’s goal.

    NB: William Kurt Black (born September 6, 1951) is an American lawyer, academic, author, and a former bank regulator.[1] Black’s expertise is in white-collar crime, public finance, regulation, and other topics in law and economics. He developed the concept of “control fraud“, in which a business or national executive uses the entity he or she controls as a “weapon” to commit fraud. …Black was a central figure in exposing Congressional corruption during the Savings and Loan Crisis. He took the notes during the Keating Five meeting that were later published in the press, and brought the event to national attention and a congressional investigation.

    ~~~

    ADMIN: See DOJ Admits: “We Got it Wrong”

  4. Jojo commented on Sep 13

    Talk about a long shot! Whew. But still a moving story.
    ———————–
    A Dying Young Woman’s Hope in Cryonics and a Future
    AMY HARMON
    SEPT. 12, 2015

    Cancer claimed Kim Suozzi at age 23, but she chose to have her brain
    preserved with the dream that neuroscience might one day revive her mind.

    http://www.nytimes.com/2015/09/13/us/cancer-immortality-cryogenics.html

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