Tag Archive for Wall Street shenanigans

David Stockman: Bubble Finance Personified – Wolf Richter- Testosterone Pit

The Fed should have been embarrassed by the M&A frenzy, and Dennis Kozlowski was striking evidence of why. He had been Wall Street’s favorite 1990s deal maker and master builder of Tyco International Ltd., a confection of serial M&A deals which put AOL Time Warner, WorldCom, and the rest of the corporate deal junkies to shame.

The Power Of The Financial Lobby: “For 25 Years, It’s Never Been The Right Moment” To Tighten- Wolf Richter- Testosterone Pit

Things move quickly at the G-20 when markets go south. The turmoil following Chairman Bernanke’s mere suggestion of a vague and slow taper of the Fed’s multi-year money-printing and bond-buying binge has already incited our illustrious fina…

David Stockman: How The Fed Got Cramer’d- Wolf Richter- Testosterone Pit

The Fed’s abject surrender to the Cramerite tantrums in the fall of 2007 was rooted in ten years of Wall Street coddling. Mesmerized by its new “wealth effects” doctrine, the Fed viewed the stock market like the famous Las Vegas ad: it didn’t want to know what went on there, and was therefore oblivious to the deeply rooted deformations which had become institutionalized in the financial markets. The sections below are but a selective history of how the nation’s central bank finally reached the ignominy of being Cramer’d by financial TV’s number one clown.

The Smart Money Dumps “Everything That’s Not Nailed Down” – Wolf Richter- Testosterone Pit

April 30, 2013, was the day when Private Equity firms – the smart money, and among the greatest beneficiaries of the Fed’s money-printing and bond-buying binge – announced their intentions to the rest of the world. The occasion was the big PE shindig in Los Angeles, the Milken Institute conference. The heavy hitters were there, and they let fly some pungent words during a panel discussion.

Biggest Bond Bubble In History Is Turning Into Carnage – Wolf Richter- Testosterone Pit

“We’ve intentionally blown the biggest government bond bubble in history,” confessed Andy Haldane, Director of Financial Stability at the Bank of England. The bursting of that bubble was a risk he felt “acutely.” He saw “a disorderly reversion” as the “biggest risk to global financial stability.” Seatbelts are being fastened; the clicks can be heard around the world.