Angelo Mozilo Speaks: No Villainy at Countrywide
Bloomberg – 6 hours ago
Angelo Mozilo Speaks: No Regrets at Countrywide
@TheStalwart: Wow. @maxabelson on BloombergTV right now, talking about his big interview with Angelo Mozilo --> [link]
@mark_dow: Oh no, they say he’s got to go go go Mozila MT @BloombergNews Countrywide’s Mozilo: no regrets [link] [link]
@andrewtghill: Countrywide’s Angelo Mozilo is at "peace", so that’s a relief - Bloomberg interview via @mdc [link]
@mccarthyryanj: "Mozilo gives a $5 bill to each homeless person he sees on New York’s Fifth Avenue" [link]
@kaylatausche: #Mozilo defends #Countrywide subprime prowess: "Should Amazon be condemned for being the biggest in their space?" [link]
@davidenrich: Angelo Mozilo recently did a stint teaching finance to Italian undergrads. [link]
@NickTimiraos: Angelo Mozilo speaks: "No, no, no, we didn’t do anything wrong" [link] via @BloombergNews
@jsphctrl: “Countrywide didn’t change. I didn’t change. The world changed.” (by @maxabelson) [link]
Business Insider: ANGELO MOZILO: ’No, No, No, We Didn’t Do Anything Wrong’
@counterparties: RT @lizzieohreally: Mozilo talks (in the third person). @maxabelson crushes it (again). [link]
@M_C_Klein: Mozilo says "real estate collapse" was problem, not bad lending. Man should read some Geanakoplos in his spare time: [link]
@ObsoleteDogma: “Countrywide or Mozilo didn’t cause any of that,” says Angelo Mozilo, speaking in the third person [link]
@lizzieohreally: Mozilo talks (in the third person). @maxabelson crushes it (again). [link]
Reformed Broker: Hot Links: Setting the Tone
@felixsalmon: “I don’t have a job, so I have to earn some money" says tone-deaf man who earned $500m in 10 years [link]
@davidmwessel: Really? Countrywide’s ex-CEO Angelo Mozillo: “No, no, no, we didn’t do anything wrong,” [link] [link]
@TimOBrien: “@bobivry: Angelo Mozilo owns a Taco Bell. He doesn’t eat there. @maxabelson [link] @BloombergNews”
@LaurenLaCapra: RT @davidmwessel: Really? Countrywide’s ex-CEO Angelo Mozillo: “No, no, no, we didn’t do anything wrong,” [link] http://t.…
Bronte Capital: Nixon pardons Nu Skin
Bronte Capital – 12 hours ago
@LaurenLaCapra: RT @BuyersStrike: ,@John_Hempton pens a must-read on $NUS [link]
@kevinroose: RT @davidenrich: A very weird situation involving @jpmorgan and Richard M. Nixon. [link]
@LongShortTrader: RT @John_Hempton: Bronte Capital: Nixon pardons Nu Skin [link] $NUS
@EpicureanDeal: Hilarious. RT @John_Hempton Elvis is alive, why not Richard M. Nixon? [link] $NUS
@M_C_Klein: Why is "Richard M. Nixon" signing NuSkin loan covenants? [link] h/t @FD
@davidenrich: A very weird situation involving @jpmorgan and Richard M. Nixon. [link]
@John_Hempton: RT @peter_tl: The mystery of Richard M. Nixon: "an accommodating but hard to reach banker at JPMorgan Chase." [link] via @J…
@BarbarianCap: Hempton on $NUS and Richard Nixon makes *at least* for an entertaining read, maybe more [link] [link]
@JacobWolinsky: RT @John_Hempton: Bronte Capital: Nixon pardons Nu Skin [link] $NUS
@peter_tl: The mystery of Richard M. Nixon: "an accommodating but hard to reach banker at JPMorgan Chase." [link] via @John_Hempton
@eisingerj: Tricky Dick back from the dead to become NuSkin promoter. Wonderful catch from @John_Hempton: [link]
@humenm: He’s alive. Bronte Capital: Nixon pardons Nu Skin - [link]
@herbgreenberg: RT @John_Hempton: Elvis is alive, why not Richard M. Nixon? [link] $NUS
@counterparties: Richard Nixon: Alive and signing documents for JP Morgan? [link]
@NickTimiraos: Why is Richard M. Nixon signing SEC disclosures for a public company’s debt facilities? [link] [link]
@pcdunham: This is fascinating. RT @John_Hempton: Elvis is alive, why not Richard M. Nixon? [link] $NUS
The Value of a College Degree
New York Fed – 5 hours ago
Not so long ago, people rarely questioned the value of a college degree. A bachelor’s degree was seen as a surefire ticket to a career-oriented, good-paying job.
@ToddSullivan: Value of a College Degree [link] NPV of college degree falls to 1999 levels
@counterparties: What’s the value of a college degree? [link] [link]
@NYFed_news: BLOG SERIES: The Value of a College Degree [link]
Business Insider: Here’s How Long It Takes To Recoup The Cost Of A College Degree
@Noahpinion: The time required to recoup the cost of a college degree has fallen by half since 1980. [link]
@MarkThoma: The Value of a College Degree - Liberty Street Economics [link]
@Alea_: (Going down) The Value of a College Degree [link]
@MichaelKitces: RT @FactTank: MT @NYFed_News: The Value of a College Degree [link] [link]
@volatilitysmile: RT @boes_: New York Fed charts the number of years it takes to recoup the cost of a college degree [link] [link]…
@UpshotNYT: The Value of a College Degree [link] RT @FactTank: MT @NYFed_News: [link]
Moelis filing on Eric Cantor
SEC.gov – 5 hours ago
Business Insider: Eric Cantor Just Got A Job At A Wall Street Bank — Here Are The Details Of His $3.4 Million Pay Package
@davidmwessel: RT @TimJHanrahan: Big raise: Here are the terms of Eric Cantor’s compensation with new employer Moelis: [link]
@morningmoneyben: Eric Cantor’s deal to join Wall Street bank Moelis and Co. is worth over $3.5 million. [link]
@ErikSchatzker: Former House Majority Leader Eric Cantor will make at least $2 million at Moelis & Co. Details in this SEC filing [link]
@JacobWolinsky: Moelis filing on Eric Cantor - [link] [link] via @feedly
Eric Cantor Just Got A Job At A Wall Street Bank — Here Are The Details Of His $3.4 Million Pay Package
Business Insider – 5 hours ago
@ReformedBroker: Eric Cantor apparently worth $3.4 million to a Wall Street i-bank, I doubt it’s because of his politcal connections [link]
@counterparties: Eric Cantor goes into investment banking [link]
@ericjackson: We’re going to need a bigger steak house “@TheStalwart: Eric Cantor’s big $3.4m pay package at Wall Street bank. [link]”
Reformed Broker: Hot Links: Setting the Tone
Oaktree Said to Seek $10 Billion for Distressed Fund
Bloomberg – 48 minutes ago
Oaktree Capital Group LLC is preparing for the economic recovery to falter.
@TheStalwart: RT @mdc: Oaktree preps for downturn, seeks $10bln for a distressed fund [link] @swillmer @devinbanerjee
@IvanTheK: Vulture Capital-raising. RT @mdc: Oaktree preps for downturn, seeks $10bln for a distressed fund [link]
@DavidSchawel: RT @mdc: Oaktree preps for downturn, seeks $10bln for a distressed fund [link] @swillmer @devinbanerjee
A Call for a Low-Carb Diet
New York Times – 14 hours ago
In a finding that upends long-held notions about a healthy diet, a major study shows that avoiding carbohydrates and eating more fat contributes to weight loss and fewer cardiovascular risks.
Incidental Economist: Low carb crushes low fat. Screw you guys! I’m going home.
@ericjackson: RT @michaelluo: Pretty striking findings...NYT: Major new study shows low-carb diet beats low-fat [link]
@nancefinance: A Call for a Low-Carb Diet [link] < +1 for the Austrians.
@newsycombinator: A Call for a Low-Carb Diet [link]
@TheStalwart: RT @bigtkirk: A Call for a Low-Carb Diet: [link]
Where to be born in 2013: Switzerland
The Economist – 6 hours ago
Where to be born in 2013 A QUARTER of a century ago, The World in 1988 light-heartedly ranked 50 countries according to where would be the best place to be born....
@Alea_: Wow, better be born in Saudi Arabia than Mexico, says the @TheEconomist [link] [link]"
@FGoria: RT @ReDefineEurope: Where is the best place to be born in the world today? In 1988 #USA was 1, in 2013 it is 16th. [link] h…
@raju: USA falls to 16 rank, from No. 1 in 1988, in @TheEconomist "index" of the best country to be born in: [link]
@SonyKapoor: RT @ReDefineEurope: Where is the best place to be born in the world today? In 1988 #USA was 1, in 2013 it is 16th. [link] h…
Simplistic theories of inflation
mainly macro – 2 hours ago
Minority mortgage market experiences leading up to and during the Financial Crisis
VOX – 5 hours ago
@MarkThoma: Minority mortgage market experiences leading up to and during the Financial Crisis - vox [link]
reddit/Economics: Minority mortgage market experiences leading up to and during the Financial Crisis
@M_C_Klein: Some nuanced findings on the impact of race on the housing bubble and bust: [link]
Fed Positioning to Normalize Policy - Tim Duy’s Fed Watch
Economist's View – 13 hours ago
With the leaves turning to gold signaling the end of summer, so too will the Fed be facing its own change of seasons as quantitative easing comes to an end. With asset purchases likely ending in October, time is growing short for the Fed to...
@ryanavent: Interesting that @TimDuy sees a 2015Q2 US rate increase: [link] Fed fund futures say September at earliest.
@TheStalwart: If you haven’t yet, read @timduy on the Fed’s exit strategy. Great stuff. [link]
@CardiffGarcia: RT @RobinBHarding: This @TimDuy post on where the Fed currently stands is excellent. Agree almost 100%. [link]
MORGAN STANLEY: The Market Could Rally For Years, And The S&P Might Go To 3,000
Business Insider – 6 hours ago
S&P 3,000 by 2020.
Cantor to receive $1.4m sign-on bonus from Moelis
Financial Times – 5 hours ago
A key former Republican leader will receive a $1.4m sign-on bonus and at least $2m in annual pay after being enlisted by Moelis & Co, the US boutique investment bank. Eric Cantor, the former House Majority Leader who lost his seat in Congre...
ECB: Monetary financing prohibition
European Union – 5 hours ago
Browse the ECB documents on monetary financing prohibition.
What Unions No Longer Do
HBR – 1 day ago
What the decline of unions has meant for incomes and racial inequality.
@interfluidity: "yes, France is less unionized than the U.S." @foxjust [link] ht @MarkThoma cc @pegobry (i’d not have thought…)
Abnormal Returns: Monday links: valuation moralists
@counterparties: What unions no longer do [link]
reddit/Economics: What Unions No Longer Do - Justin Fox - Harvard Business Review
@Richard_Florida: RT @HarvardBiz: What Unions No Longer Do [link]
Draghi ABS Revival Depends on Regulators Defining Simple
Bloomberg – 9 hours ago
The European Central Bank is gearing up to buy “simple, transparent and real” asset-backed debt. The success of its bid to breathe life into the market will depend on how regulators from Basel to Brussels define those terms.
Another Bond Market Conundrum?
Macro and Other Market Musings – 1 day ago
@Fullcarry: Great post by @DavidBeckworth decomposing interest rates with charts of the 5-Year and 10-Year term premium [link]
@EconBrothers: Another Bond Market Conundrum? - Is the U.S. economy in the midst of another bond market "conundrum"? Th... [link]
@greg_ip: RT @DavidBeckworth: Return of the Interest Rate Conundrum? [link] @greg_ip @Fullcarry @WSJCentralBanks @TimDuy @davidmwessel
@munilass: Another bond market conundrum? [link] (via @RobinBHarding) Thoughts?
The Geography of Foreign Students in U.S. Higher Education: Origins and Destinations
brookings.edu – 4 days ago
In an analysis of new data, Neil Ruiz tracks the local origins, size and growth rate of the foreign student population across the United States by metropolitan area. He finds that foreign students attending U.S. colleges and universities o...
@chinahearsay: RT @raykwong: The Geography of Foreign Students in U.S. Higher Education: Origins and Destinations. [link]
@Richard_Florida: The Geography of Foreign Students in the US - @neil_ruiz @BrookingsMetro - [link] [link]
@UpshotNYT: Which US City retains most foreign students after graduation? @BrookingsInst report [link] [link]
@davidmwessel: Half the foreign students in US are from China, India or Korea [link] [link]
@raju: The geography of foreign students in American universities, via @BrookingsInst [link] h/t @DigitalAnika cc @IIEglobal
@panphil: Cool interactive by @BrookingsInst says those Chinese paid $10.7bil+ in tuition/living costs. [link] Correcting myself.
Operation Twitter: User Interface Changes in the Works
Bloomberg Businessweek – 4 days ago
Twitter’s head of product, Daniel Graf, must make the service more user-friendly without offending hard-core fans
@firstadopter: Operation Twitter: User Interface Changes in the Works - Businessweek via @BW [link] <- new head of product "rarely tweets"
@StKonrath: Operation Twitter: User interface challenges, by @sarahfrier @BradStone [link] [link]
@mccarthyryanj: Twitter is on its fourth head of product in five years [link]
@MParekh: Up at bat Daniel Graf, "#Twitter’s 4th head of product in 5 years". "UI Changes in the Works". [link] $TWTR
@tomkeene: Must-Read [link] [link]
@lucymarcus: Harsh words by Accel Partners’ O’Malley abt Twitter CEO Dick Costolo in article about Twitter’s new head of product [link]
@raju: On the challenges that Daniel Graf, @Twitter’s fourth head of product in 5 years, faces: [link] via @BW h/t @alansmurray
@SconsetCapital: RT @mccarthyryanj: Twitter is on its fourth head of product in five years [link]$TWTR
The Cyber-Terror Bank Bailout: They’re Already Talking About It, and You May Be on the Hook
Bloomberg – 3 days ago
Bankers and U.S. officials have warned that cyber-terrorists will try to wreck the financial system’s computer networks. What they aren’t saying publicly is that taxpayers will probably have to cover much of the damage.
@fiatcurrency: RT @BloombergNews: What would happen if hackers cleaned out a major bank?The answer might shock you: [link] [link]…
@finansakrobat: If banks gets hacked and robbed, you have to pay. [link]
@Kiffmeister: The Cyber-Terror Bank Bailout: They’re Already Talking About It, and You May Be on the Hook [link] via @BloombergNews
YouGov Report Dramatic Swing to Yes
whatscotlandthinks.org – 7 hours ago
Commentary on a poll of voting intentions in the Scottish independence referendum conducted by YouGov in August/September 2014