At first, when I listened to the accounts of old-time deals and devices I used to think that people were more gullible in the 1860s and ’70s than in the 1900s. But I was sure to read in the newspapers that very day or the next something about the latest Ponzi or the bust-up of some bucketing broker and about the millions of sucker money gone to join the silent majority of vanished savings.
[Read more...]Is Facebook the Rusty Hinge of the Stock Market?
May 22, 2012 By Leave a Comment
Yesterday, stocks bounced…just as they should have. After two weeks of falling, they were ready to bounce. Heck, even a dead congressman will bounce, if you drop him from high enough.
The Dow rose 135 points. Not very impressive, after so many down days.
Everything has been sinking… Stocks, commodities, oil…
[Read more...]Greeks Run on Banks as Euro-Confidence Wanes
May 21, 2012 By Leave a Comment
In Pamplona, Spaniards run with the bulls. In Athens, Greeks run on the banks. Yes, folks a good, old-fashioned bank run is underway in Greece.
Greeks Run on Banks as Euro-Confidence Wanes
May 21, 2012 By Leave a Comment
In Pamplona, Spaniards run with the bulls. In Athens, Greeks run on the banks. Yes, folks a good, old-fashioned bank run is underway in Greece.
The Delusion of Regulating Risk
At first, when I listened to the accounts of old-time deals and devices I used to think that people were more gullible in the 1860s and ’70s than in the 1900s. But I was sure to read in the newspapers that very day or the next something about the latest Ponzi or the bust-up of some bucketing broker and about the millions of sucker money gone to join the silent majority of vanished savings.
[Read more...]