They are the classes I started last night @ Kellogg.
Macro was very interesting. Given the current climate, it must be a tough subject to teach as you almost need to throw the text out the windows. We are going to focus on the frameworks, bringing in some current events and concepts. It should be a [...]
This is a must read… If the actual data ends up supporting this, the entire establishment should be locked up. This is simply amazing. AIG is acting as a funnel for our taxpayer dollars to other banks through massive unwinds – enormous, total portfolio unwinds. This is like selling a $100 bill to your friend for $10. Bad deal for you (A.I.G -> Taxpayer) great deal for your friend (BAC, GS etc…)
This does not surprise me at all. With the Fed’s obvious goal of devaluing the dollar (that is the end game solution to our problem), China is raising the question of the validity of the dollar as the worlds reserve currency.
From
FT:
China calls for new reserve currency
China’s central bank on Monday proposed replacing the US [...]
Warning, this is a little bit of a rant. However, I think this is VERY important. Today the House passed a law to tax bonuses at 90% ex post facto. I am not a lawyer, but it appears to me that our Congress in on the verge of unraveling the very fabric of our society. Partisan politics aside, ex post facto laws are unconstitutional.
Now the President and Secretary of the Treasury are going to try and control the compensation that is paid at A.I.G. Should we just renamed it to U.S.A.I.G – United States of America Insurance Group?
