Category Archives: Financial Crisis

citi, citi, citi

So, Citibank. Let’s roll the tape: I would say that there’s about an 80% chance that Citibank will not survive the next 12 months. Currently, there is a plan to break up the banking business and the brokerage business (that is, to merge Smith Barney with Morgan Stanley). Their CEO noted, “We believe there is […]

A lifestyle to which I have grown accustomed

There are a small, but increasing, number of stories about fund managers and investors who are finding the recent economic collapse unbearable. I feel genuine sadness for those who have taken their own lives (and if your impulse is something like ‘good, fuck them’, then that makes you a bad person. Seriously.). They may have […]

Stock market soars, financial crisis over

I’ve had this post title, with nothing in the body of the text, since October 13th. I keep waiting for the perfect moment…


Oh, I’m sorry, did you not notice that the organization that fed most of the profits to GM over the past decade or so was first sold and now trying to back-door into the financial bailout that is the TARP program? No? Well, let me put you at ease. GMAC is clearly part of the […]

unknown unknown unknowns

I had a couple of interesting discussions with hedge fun friends this past weekend, who are fairly concerned with the latest bit of bad news (incidentally, one noted that people who invest in funds that invest in funds are, in fancy financial terms, ‘morons’). More interesting was a bit of thought on how much risk […]