Archive for July, 2009:

Why Has The Treasury Department Suddenly Become A Spammer?

{ Posted on Jul 30 2009 by John Carney }
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Categories : All, Clusterstock
In the last 10 minutes we’ve received over 25 emails from the US Department of Treasury. It appears as if something has gone seriously wrong with their email distributions.The emails all appear legitimate. They’re about some boring things--such as the ...Read More »

Nap Demographics Weirdly Fascinating

{ Posted on Jul 30 2009 by Katherine Mangu-Ward }
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Categories : All, Reason Magazine - Economics
It's easy to dismiss arguments about leisure and quality of life trade-offs when in the midst of a heated debate about income inequality. Life is hard if you don't have money, no doubt about that. But stats like this ...Read More »

“Radical Bunny” Investment Scheme Sued By SEC

{ Posted on Jul 30 2009 by Moe Tkacik }
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Categories : All, Clusterstock
Radical Bunny LLC was a Phoenix-based investment company that allegedly promised  double digit annual returns to 900 investors by making high-interest loans to a single commercial property developer. That developer, Scott Coles, just happened to be the longtime friend and accounting ...Read More »

Overexpansion by Banks Hits Brick Wall of Reality: The Point of Negative Returns

{ Posted on Jul 30 2009 by Michael Shedlock }
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Categories : Uncategorized
Banks have finally come to a realization there does not need to be a branch on every corner. If this story sounds familiar it is because the same discussions took place in 2000.Here are some interesting comments from the headline ...Read More »

Expedia Traveling Higher on Earnings

{ Posted on Jul 30 2009 by Ockham Research Staff }
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Categories : All, Ockham
Expedia Inc. (EXPE) stock is surging in Thursday afternoon trading advancing 13%, as the online travel site reported earnings that eclipsed Wall Street estimates.  The company reported EPS ex-items of $.38 while the analysts expected just $.31.  Revenue was better ...Read More »

Merrill Lynch Paid More Than $3 Billion Bonuses After Suffering $27 Billion In Losses

{ Posted on Jul 30 2009 by John Carney }
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Categories : All, Clusterstock
Last year, Merrill Lynch agreed to take $10 billion in TARP funds and suffered losses of $27 billion last year. It promptly paid $3.6 billion in bonuses, blowing an even larger hole in its balance sheet. Bank of America eventually ...Read More »

“No Rhyme Or Reason”

{ Posted on Jul 30 2009 by Joe Weisenthal }
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Categories : All, Clusterstock
Dear Wall Street: New York AG Andrew Cuomo is appalled by your behavior, which he details in his new report titled, provocatively: "No Rhyme or Reason: The 'Heads I Win, Tails You Lose' Bank Bonus Culture." What's so damning about Cuomo's ...Read More »

Here Is What Really Went Wrong With Mortgage Backed Securities

{ Posted on Jul 30 2009 by John Carney }
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Categories : All, Clusterstock
The securitization of mortgage loans has come in for some heavy criticism since our financial crisis began. Unfortunately, most of this criticism is way too vague to be very useful. And since our regulators are bent on reviving the securitization ...Read More »

S&P 1,000?

{ Posted on Jul 30 2009 by Joe Weisenthal }
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Categories : All, Clusterstock
No doubt about it, the rally is amazing and has left a swarm of idiots (incl. yours truly) in its wake. Today's high is 996, though right now it's around 991. With a late-day rally, the likes of which are frequent, ...Read More »

Why It’s Just Dumb To Complain About Oil Speculators

{ Posted on Jul 30 2009 by John Carney }
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Categories : All, Clusterstock
When discussing the role of speculators in the oil market, there’s a tendency of people to want draw comparisons with stock speculation and investing. But this comparison is highly inappropriate because oil and oil futures are nothing at all like ...Read More »
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