Linkfest: Day of reckoning for Argentina and ‘vulture funds;’ China’s leader divests business empire; Fed day
Categories: Linkfest
Today’s most shared:
- Argentina vows to fight ‘vulture’ funds, struggles to avert default. Will US decision empower holdouts and imperil future sovereign debt restructurings?
- China’s leader divests business empire.
- China metal trader that borrowed $2b may have pledged same collateral over and over, Citic says missing $43m worth of metal.
- Fed concludes 2-day meeting.
- Krugman on Geithner: an unreliable narrator rewrites history, says glass is half-full because it all could have been worse.
- Euro area still in recession, hasn’t rebuilt balance sheets since crisis.
- Harvard’s private equity performance trails peers, benchmarks. Yeshiva University reportedly blows $1b on Madoff, ill-timed push into alternatives, deficits.
- Entrepreneur Barbie. Sign of an impending top? Startup hype and glamour tends to be inversely related to returns. No word on whether she is an angel investor in Instacart (“Uber for grocery delivery”) or ‘Yo.’
Argentina vows to continue fight against ‘vulture funds’
Financial Times
Argentina’s economy minister Axel Kicillof said he wanted to restructure debt held by foreign creditors under local law and the country would continue its fight against so-called “vulture funds”.
shared by @AmyResnick, @FGoria
Financial Times
Argentina’s economy minister Axel Kicillof said he wanted to restructure debt held by foreign creditors under local law and the country would continue its fight against so-called “vulture funds”.
shared by @AmyResnick, @FGoria
IMF Issues Warning on Argentina Debt Defeat
Wall Street Journal
The major legal defeat Argentina suffered Monday in its decade-long fight against holdout bondholders could ricochet around the world’s sovereign debt markets, the International Monetary Fund warned Monday.
shared by Naked Capitalism, @FGoria
Wall Street Journal
The major legal defeat Argentina suffered Monday in its decade-long fight against holdout bondholders could ricochet around the world’s sovereign debt markets, the International Monetary Fund warned Monday.
shared by Naked Capitalism, @FGoria
As China’s Leader Fights Graft, His Relatives Shed Assets
New York Times
Evidence suggests that President Xi Jinping has been pushing his family to sell hundreds of millions of dollars in holdings in an effort to reduce his political vulnerability.
shared by @MParekh, @prchovanec, @larsonchristina, @TomLasseter
New York Times
Evidence suggests that President Xi Jinping has been pushing his family to sell hundreds of millions of dollars in holdings in an effort to reduce his political vulnerability.
shared by @MParekh, @prchovanec, @larsonchristina, @TomLasseter
Citic Resources says half its alumina stored at Qingdao missing
scmp.com
Chinese commodities trader Citic Resources said on Wednesday that more than 100,000 tonnes of alumina stored at Qingdao port was missing, deepening fears that firms exposed to a metals financing scam there could face big losses.
shared by @TheStalwart, @prchovanec
scmp.com
Chinese commodities trader Citic Resources said on Wednesday that more than 100,000 tonnes of alumina stored at Qingdao port was missing, deepening fears that firms exposed to a metals financing scam there could face big losses.
shared by @TheStalwart, @prchovanec
Qingdao Metals Trader Facing Probe over Collateral ’Got 15 Bln Yuan in Loans’ –
Caixin Online
Banking regulator tallies up borrowing by Dezheng Resources, as police investigate whether it used the same collateral to get different loans.
shared by NYT Dealbook, @niubi, @Dvolatility
Caixin Online
Banking regulator tallies up borrowing by Dezheng Resources, as police investigate whether it used the same collateral to get different loans.
shared by NYT Dealbook, @niubi, @Dvolatility
Nine Wall Street charts you should see before the big Fed meeting
Quartz
Today marks the conclusion of a two-day meeting of the US Federal Reserve, accompanied by a raft of Fed projections and a press conference appearance by chair Janet Yellen.
shared by @EddyElfenbein, Reformed Broker
Quartz
Today marks the conclusion of a two-day meeting of the US Federal Reserve, accompanied by a raft of Fed projections and a press conference appearance by chair Janet Yellen.
shared by @EddyElfenbein, Reformed Broker
Krugman: Does Geithner Pass the Test?
nybooks.com
To use one of the medical metaphors Geithner likes, we can think of the economy as a patient who was rushed to the emergency room with a life-threatening condition. Thanks to the urgent efforts of the doctors present, the patient’s life was saved. But while the doctors kept him alive, they failed to cure his underlying illness, so he emerged from the procedure partly crippled, and never fully recovered.
shared by @M_C_Klein, Business Insider, Naked Capitalism, reddit/Economics
nybooks.com
To use one of the medical metaphors Geithner likes, we can think of the economy as a patient who was rushed to the emergency room with a life-threatening condition. Thanks to the urgent efforts of the doctors present, the patient’s life was saved. But while the doctors kept him alive, they failed to cure his underlying illness, so he emerged from the procedure partly crippled, and never fully recovered.
shared by @M_C_Klein, Business Insider, Naked Capitalism, reddit/Economics
Why the euro crisis still isn’t over, in 1 chart
Washington Post
Five years later, Europe’s private debt has barely come down.
shared by @ObsoleteDogma, reddit/Economics, @Dvolatility, @mccarthyryanj
Washington Post
Five years later, Europe’s private debt has barely come down.
shared by @ObsoleteDogma, reddit/Economics, @Dvolatility, @mccarthyryanj
Eurozone mired in recession pause
VOX
shared by @FGoria, @GTCost, reddit/Economics, @ObsoleteDogma, @ryanavent, @Neil_Irwin
VOX
shared by @FGoria, @GTCost, reddit/Economics, @ObsoleteDogma, @ryanavent, @Neil_Irwin
Why standard macro models fail in crises
VOX
shared by @FGoria, @MarkThoma, reddit/Economics, @Noahpinion, @M_C_Klein
VOX
shared by @FGoria, @MarkThoma, reddit/Economics, @Noahpinion, @M_C_Klein
Harvard Money Managers Exit on Subpar Private Equity Bets
Bloomberg
After years of subpar results at Harvard Management Co., three high-level managers have exited the $32.7 billion endowment and the university is searching for new leadership.
shared by @JohnLothian, NYT Dealbook, Here Is The City, @MichaelKitces, @MattGoldstein26
Bloomberg
After years of subpar results at Harvard Management Co., three high-level managers have exited the $32.7 billion endowment and the university is searching for new leadership.
shared by @JohnLothian, NYT Dealbook, Here Is The City, @MichaelKitces, @MattGoldstein26
How to Lose $1 Billion: Yeshiva University Blows Its Future on Loser Hedge Funds
takepart.com
High-risk investments and conflicts of interest abounded at Manhattan’s prestigious university, leading to a $1.3 billion reversal of fortune.
shared by @felixsalmon, @carney
takepart.com
High-risk investments and conflicts of interest abounded at Manhattan’s prestigious university, leading to a $1.3 billion reversal of fortune.
shared by @felixsalmon, @carney
GM Recalls: How General Motors Silenced a Whistle-Blower
Bloomberg Businessweek
GM lifer Courtland Kelley spent years trying to warn the company about safety problems.
shared by Business Insider, @AntDeRosa, @larsonchristina, @mccarthyryanj
Bloomberg Businessweek
GM lifer Courtland Kelley spent years trying to warn the company about safety problems.
shared by Business Insider, @AntDeRosa, @larsonchristina, @mccarthyryanj
Your First Look at Entrepreneur Barbie, Smartphone and All
Wired
The fashion doll is taking on a new job that will sound awfully familiar to anyone in Silicon Valley—the place or the show.
shared by @ReformedBroker, @hblodget, Reformed Broker
Wired
The fashion doll is taking on a new job that will sound awfully familiar to anyone in Silicon Valley—the place or the show.
shared by @ReformedBroker, @hblodget, Reformed Broker
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