Linkfest: Banks turn blind eye to risky LBO loans; BoE’s Carney on ethics in finance; 2014 Internet trends
Categories: Linkfest
Today’s most shared:
- Banks allow borrowers to adjust earnings to report less risk to regulators. Goodhart’s law in action, and the Achilles heel of ‘big data.’ Deciding what and how to measure is hard and not value-free.
- BoE governor criticizes ethics in finance. Much of the difference between developed and less developed economies can be attributed to social capital, trust, ability to do business with an expectation of decent behavior, including accurate numbers.
- 2014 Internet trends.
- Consumer credit still tight, but creditworthy borrowers less cautious.
- McCulley returns to Pimco.
- Monopolies and oligopolies cost consumers.
- Release of private equity documents: a Snowden moment for the PE industry?
Fed’s Junk-Loan Caution Spurs Creative Accounting Alchemy
Bloomberg
Lenders are increasingly allowing junk-rated borrowers to adjust their earnings to make them look more creditworthy as U.S. regulators increase pressure on banks to refrain from underwriting too-risky deals.
shared by Here Is The City, @nasiripour, @hedgefundinvest
Bloomberg
Lenders are increasingly allowing junk-rated borrowers to adjust their earnings to make them look more creditworthy as U.S. regulators increase pressure on banks to refrain from underwriting too-risky deals.
shared by Here Is The City, @nasiripour, @hedgefundinvest
Capitalism is doomed if ethics vanish, says Bank of England governor
theguardian.com
Mark Carney issues strong critique of City behaviour and warns of growing sense that basic social contract is breaking down.
shared by @HamzeiAnalytics, @GTCost, reddit/Economics, @graemewearden
theguardian.com
Mark Carney issues strong critique of City behaviour and warns of growing sense that basic social contract is breaking down.
shared by @HamzeiAnalytics, @GTCost, reddit/Economics, @graemewearden
2014 Internet Trends
kpcb.com
Partnering with great entrepreneurs to build the next big thing.
shared by @firstadopter, @danprimack, @IvanTheK, @SconsetCapital, @Techmeme
kpcb.com
Partnering with great entrepreneurs to build the next big thing.
shared by @firstadopter, @danprimack, @IvanTheK, @SconsetCapital, @Techmeme
To Make a Killing on Wall Street, Start Meditating
Bloomberg
Whereas Siddhartha Gautama took to the lotus position out of frustration with his riches, traders are hitting the mat to obtain them.
shared by Here Is The City, @TheIntuitInvest, @JacobWolinsky, @JohnLothian
Bloomberg
Whereas Siddhartha Gautama took to the lotus position out of frustration with his riches, traders are hitting the mat to obtain them.
shared by Here Is The City, @TheIntuitInvest, @JacobWolinsky, @JohnLothian
Rising Household Debt: Increasing Demand or Increasing Supply?
New York Fed
Total consumer debt continued to increase in the first quarter of this year, marking the first time since the recession that aggregate debt had grown for three consecutive quarters.
shared by @edwardnh, @NYFed_news, @ToddSullivan
New York Fed
Total consumer debt continued to increase in the first quarter of this year, marking the first time since the recession that aggregate debt had grown for three consecutive quarters.
shared by @edwardnh, @NYFed_news, @ToddSullivan
Pimco rehires McCulley, this time as chief economist and public face
Reuters
Pimco said on Tuesday it has rehired Paul McCulley, who was previously a portfolio manager and the bond giant’s top analyst of the U.S. Federal Reserve’s policies.
shared by @TheStalwart, @pkedrosky, @HamzeiAnalytics, @JacobWolinsky
Reuters
Pimco said on Tuesday it has rehired Paul McCulley, who was previously a portfolio manager and the bond giant’s top analyst of the U.S. Federal Reserve’s policies.
shared by @TheStalwart, @pkedrosky, @HamzeiAnalytics, @JacobWolinsky
The slump in China’s property market is getting worse despite government efforts to help.
Wall Street Journal
A downturn in China’s property market is deepening despite growing government efforts to give home sales a lift, adding to concerns over the health of the world’s No. 2 economy.
shared by @ObsoleteDogma, @edwardnh, @vshih2
Wall Street Journal
A downturn in China’s property market is deepening despite growing government efforts to give home sales a lift, adding to concerns over the health of the world’s No. 2 economy.
shared by @ObsoleteDogma, @edwardnh, @vshih2
Dennis Gartman: We Were Wrong Calling for a Correction
Wall Street Journal
Investor Dennis Gartman is done trying to predict the market’s downfall. "Simply put, we’ve been wrong…badly…to have expected the market to correct," Mr. Gartman wrote Tuesday morning.
shared by @ritholtz, @edwardnh, Reformed Broker, @ReformedBroker, @DavidSchawel
Wall Street Journal
Investor Dennis Gartman is done trying to predict the market’s downfall. "Simply put, we’ve been wrong…badly…to have expected the market to correct," Mr. Gartman wrote Tuesday morning.
shared by @ritholtz, @edwardnh, Reformed Broker, @ReformedBroker, @DavidSchawel
Concentrated Markets Take Big Toll on Economy
New York Times
The excess profits companies can extract from their customers when they face little or no competition — known to economists as “rents” — may be deepening income inequality, experts argue.
shared by @Alea_, @JoshRosner, @MarkThoma, @ryanchittum
New York Times
The excess profits companies can extract from their customers when they face little or no competition — known to economists as “rents” — may be deepening income inequality, experts argue.
shared by @Alea_, @JoshRosner, @MarkThoma, @ryanchittum
Thomas Piketty Says He Was Ambushed
newsweek.com
shared by @charlesforelle, @TheStalwart, @spignal, reddit/Economics
newsweek.com
shared by @charlesforelle, @TheStalwart, @spignal, reddit/Economics
The Private Equity Limited Partnership Agreement Release: The Industry’s Snowden Moment
Naked Capitalism
The release of twelve limited partnership agreements is a watershed for private equity. It shows that their arguments for secrecy were bogus.
shared by @edwardnh, @danprimack, @cate_long, @petereavis, @rjocean
Naked Capitalism
The release of twelve limited partnership agreements is a watershed for private equity. It shows that their arguments for secrecy were bogus.
shared by @edwardnh, @danprimack, @cate_long, @petereavis, @rjocean
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