Today’s most shared:
- SEC commissioner calls Financial Stability Oversight Council (FSOC) a ‘Firing Squad On Capitalism,’ and power grab against the SEC and Wall Street.
- HFT speed racers snap up microwave towers to gain milliseconds on rivals, or prevent them from gaining an edge.
- Obama Administration targets mergers that move US companies offshore and sidestep the taxman.
- Will BRIC counterparts to World Bank, IMF change the financial order? China has the reserves to put to work in development and stabilizing FX markets, and the golden rule is: “He who has the gold, makes the rules.”
- As long as there is fiat money and a central bank, there will be debate about the ‘natural’ rate of interest.
- CEOs who curse.
A Republican member of the U.S. Securities and Exchange Commission slammed the Federal Reserve and a council of financial regulators on Tuesday, accusing them of a power grab on everything from asset managers to high-speed trading.
shared by @BCAppelbaum, @DougKass, @ThemisSal, @petereavis
shared by @LaurenLaCapra, @mccarthyryanj, @BCAppelbaum, @NickTimiraos
New York Times
Twenty-First Century Fox, the media empire run by Rupert Murdoch, made an $80 billion takeover bid in recent weeks for Time Warner but was rebuffed, said people briefed on the matter.
shared by @LaurenLaCapra, @StKonrath, @davewiner, @AnjuliDavies
Wall Street Journal
The Obama administration joined the growing debate over U.S. companies reincorporating overseas for tax purposes, urging lawmakers to pass legislation to limit the moves.
shared by @MichaelKitces, @morningmoneyben
High frequency traders buy up microwave towers to gain a few milliseconds of speed edge, or in some cases to prevent competitors from gaining on them.
shared by @ThemisSal, @JoeSaluzzi, @JohnLothian, @SimoneFoxman, @pcdunham
As long as we have a central bank, interest rates in some sense will be artificial.
shared by @cullenroche, @FGoria, @Noahpinion, reddit/Economics
New York Fed
The natural rate of interest may be lower than normal when shocks increase risk aversion and liquidity preference.
shared by @FGoria, @NYFed_news, reddit/Economics
Graphic: CEO cursing on conference calls spiked after the recession. Who are the saltiest CEOs?
shared by @IvanTheK, @Pawelmorski, @mccarthyryanj
Zoning and planning are a way for people who already own real estate to extract wealth from those who need real estate.
shared by @BCAppelbaum, @ObsoleteDogma, @FGoria, @bondvigilantes, @Neil_Irwin
New York Times
Can America be Uberized?
shared by @ModeledBehavior, @FGoria, @Noahpinion, Calculated Risk
Wall Street Journal
Standard & Poor’s Ratings Services, after more than a year of fighting a crisis-era lawsuit, is willing to reopen discussions with the Justice Department to settle the case.
shared by @jennablan, @Convertbond, @morningmoneyben
His days start at 5:15 a.m. and end at 11 p.m. But the long hours more than pay off for Leon Cooperman, the billionaire founder of Omega Advisors.
shared by @DougKass, @ReformedBroker, @herbgreenberg
The BRICS nations are committing more resources to their new financial institutions than to the IMF and World Bank. That is a real threat to the established financial order.
shared by @MarkThoma, @rjocean
Yellen still dovish, but acknowledges hawks’ arguments, says watching labor market closely for signs of inflation.
shared by @delong, @TheStalwart, @counterparties
In the end, the most shocking part of Let’s Gowex SA’s implosion this month wasn’t that the Wi-Fi company, worth 1.9 billion euros ($2.6 billion) just three months ago, was a fraud. It’s that it wasn’t spotted sooner.
shared by @LaurenLaCapra, @danprimack, @JacobWolinsky
When Jill Abramson was appointed the first female executive editor of The New York Times, it was a big deal. When she was fired only two and a half years into the gig for her ‘brusque management style,’ it was an even bigger deal.
shared by @lucymarcus, @ryanchittum, @EKaiserReuters, @LaurenLaCapra, Huffington Post
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