Linkfest: Credit Suisse guilty plea is business as usual; Animal spirits; Geithner’s lessons
Categories: Linkfest
Today’s most shared:
- Credit Suisse pleads guilty, accepts giant fine; Outcome called business as usual for bank and tax-evading clients.
- Animal spirits return to junk market despite ‘lowflation’ fears.
- El-Erian: Geithner critics overlook that politics is the art of the possible. Bair: Worth reading to understand how regulators sell out taxpayers in a paradigm of chronic crises and bailouts.
- Informed investors get better 401(k) returns.
- You can’t believe everything you read on the Internet. Massively incorrect post on auto inventories goes massively viral.
- Confusing market signals, central bank moves, geopolitics, seasonality make economic outlook murky.
- Sulzberger speaks on Abramson debacle.
- Brilliant pundit discovers financial services are more lucrative than digital media.
Credit Suisse Rises as U.S. Guilty Plea Ends 3-Year Probe
Bloomberg
The bank agreed yesterday to the largest penalty in an offshore tax case after using secret Swiss accounts to help Americans hide money from the Internal Revenue Service, and its main banking unit pled guilty to a criminal charge. “As long as a guilty plea and the resulting reputational issues don’t have an effect on its ability to operate, it should be business as usual for Credit Suisse,” said an analyst.
shared by Business Insider, @moorehn, @petereavis, @eisingerj, @MattGoldstein26
Bloomberg
The bank agreed yesterday to the largest penalty in an offshore tax case after using secret Swiss accounts to help Americans hide money from the Internal Revenue Service, and its main banking unit pled guilty to a criminal charge. “As long as a guilty plea and the resulting reputational issues don’t have an effect on its ability to operate, it should be business as usual for Credit Suisse,” said an analyst.
shared by Business Insider, @moorehn, @petereavis, @eisingerj, @MattGoldstein26
Credit Suisse Clients Remain Secret as Bank to Help U.S.
Bloomberg
Credit Suisse AG, which pleaded guilty yesterday to helping Americans evade taxes, has so far avoided identifying thousands of customers who cheated the Internal Revenue Service. Instead, it promised to point investigators in the right direction.
shared by @lucymarcus, @JohnLothian, @nasiripour
Bloomberg
Credit Suisse AG, which pleaded guilty yesterday to helping Americans evade taxes, has so far avoided identifying thousands of customers who cheated the Internal Revenue Service. Instead, it promised to point investigators in the right direction.
shared by @lucymarcus, @JohnLothian, @nasiripour
Frustrated by low interest rates on safer investments, investors are plowing into junk bonds.
Wall Street Journal
Investors are rushing into the riskiest corporate bonds, frustrated by low interest rates on safer investments and convinced that even companies with shaky finances are in little danger of default.
shared by @edwardnh, @BarbarianCap, @nancefinance, @HamzeiAnalytics
Wall Street Journal
Investors are rushing into the riskiest corporate bonds, frustrated by low interest rates on safer investments and convinced that even companies with shaky finances are in little danger of default.
shared by @edwardnh, @BarbarianCap, @nancefinance, @HamzeiAnalytics
Abe Learns About Animal Spirits From Nobel Winner Shiller
Bloomberg
Three weeks before Japan increased its sales-tax for the first time in 17 years, Prime Minister Shinzo Abe turned to Nobel laureate Robert Shiller to try to restore a vital ingredient of his economic revolution: optimism.
shared by @lucymarcus, @JohnLothian, Reformed Broker, @JacobWolinsky
Bloomberg
Three weeks before Japan increased its sales-tax for the first time in 17 years, Prime Minister Shinzo Abe turned to Nobel laureate Robert Shiller to try to restore a vital ingredient of his economic revolution: optimism.
shared by @lucymarcus, @JohnLothian, Reformed Broker, @JacobWolinsky
El-Erian: Tim Geithner Deserves to Be Heard
Bloomberg View
Dogma and prejudice are preventing people from hearing what Tim Geithner has to say.
shared by @EddyElfenbein, @counterparties, @TimOBrien
Bloomberg View
Dogma and prejudice are preventing people from hearing what Tim Geithner has to say.
shared by @EddyElfenbein, @counterparties, @TimOBrien
Sheila Bair: Why I recommend Tim Geithner’s book
Fortune
Tim Geithner’s new book is important more for what it says of Wall Street’s future than its past.
shared by @ritholtz, @davidmwessel, @JoshRosner, @niubi, @bobivry
Fortune
Tim Geithner’s new book is important more for what it says of Wall Street’s future than its past.
shared by @ritholtz, @davidmwessel, @JoshRosner, @niubi, @bobivry
Got Knowledge? Informed Investors Get Juicier 401(k) Returns
Barron’s
In investing, less is often more: For instance, less trading. Or less chasing of high-performing assets. But there’s one case where a new study suggests more really is more, and less is less: Your financial knowledge.
shared by @JacobWolinsky, @ReformedBroker, @ritholtz, Reformed Broker, Abnormal Returns
Barron’s
In investing, less is often more: For instance, less trading. Or less chasing of high-performing assets. But there’s one case where a new study suggests more really is more, and less is less: Your financial knowledge.
shared by @JacobWolinsky, @ReformedBroker, @ritholtz, Reformed Broker, Abnormal Returns
Elizabeth Kolbert: Why Are We So Busy?
New Yorker
Since the 1930s, U.S. G.D.P. has grown, in real terms, by a factor of sixteen. Why hasn’t that wealth translated into more leisure time?
shared by reddit/Economics, @Richard_Florida, @tylercowen, @EddyElfenbein
New Yorker
Since the 1930s, U.S. G.D.P. has grown, in real terms, by a factor of sixteen. Why hasn’t that wealth translated into more leisure time?
shared by reddit/Economics, @Richard_Florida, @tylercowen, @EddyElfenbein
No One Knows What To Make Of The Economy
Business Insider
May has produced a series of very confusing, and often misleading data.
shared by @DanielAlpert, @prchovanec, @JamesGRickards
Business Insider
May has produced a series of very confusing, and often misleading data.
shared by @DanielAlpert, @prchovanec, @JamesGRickards
The Truth About Auto Sales
Bloomberg View
Don’t always believe what you see on the Internet.
shared by @KidDynamiteBlog, Calculated Risk, @ReformedBroker, @Ian_Fraser
Bloomberg View
Don’t always believe what you see on the Internet.
shared by @KidDynamiteBlog, Calculated Risk, @ReformedBroker, @Ian_Fraser
Arthur Sulzberger’s First Interview the Turmoil at The New York Times: “I Would Have Done It Differently”
Vanity Fair
The Times publisher speaks for the first time since the controversial firing of executive editor Jill Abramson: “It wasn’t as though we went out to hurt her. We didn’t.”
shared by @LaurenLaCapra, @peterlattman, @crampell, @lucymarcus
Vanity Fair
The Times publisher speaks for the first time since the controversial firing of executive editor Jill Abramson: “It wasn’t as though we went out to hurt her. We didn’t.”
shared by @LaurenLaCapra, @peterlattman, @crampell, @lucymarcus
Todd Harrison: Why I’m Exiting the Digital Media Business
Minyanville
Minyanville pivots toward its future.
shared by @mark_dow, @derekhernquist, @ritholtz, @EddyElfenbein
Minyanville
Minyanville pivots toward its future.
shared by @mark_dow, @derekhernquist, @ritholtz, @EddyElfenbein
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