Outrage isn’t asleep it’s just gone underground
By Matthew Goldstein and Jennifer Ablan Where is the outrage? A year ago, the Occupy Wall Street movement was just getting started, with mass demonstrations across the nation against corporate...
View ArticleDaniel Loeb goes long Chesapeake bonds; leaves activism to others
Daniel Loeb, who runs $8.7 billion at his hedge fund Third Point, has been an opportunistic buyer in the bonds of Chesapeake Energy, the embattled natural gas producer, according to sources familiar...
View ArticleUF Weekend reads – The PIMCO edition
Jenn Ablan likes to tell me that people are always writing about PIMCO and Bill Gross, the long reigning “king of bonds.” And when you think of it there’s a lot of truth to that assertion. Gross’...
View ArticleWill FHFA opposition to principal reductions boost eminent domain efforts?
By Matthew Goldstein and Jennifer Ablan There’s nothing surprising about FHFA head Ed DeMarco’s decision to nix the idea of writing down some of the debt owed by cash-strapped homeowners on mortgages...
View ArticleJamie Dimon’s teflon coating
By Matthew Goldstein and Jennifer Ablan Jamie Dimon’s coat of teflon is wearing well, even as the criminal and regulatory investigation into the London Whale trading scandal deepens. Shares of JPMorgan...
View ArticleUF Weekend Reads
Two weeks of speechifying by the Dems and Reps has come to an end. Well not really–but the conventions are over. And for all the talk, there is one issue that got short-shrift–a solution to the...
View ArticleFHFA is not on an REO speed wagon when it comes to full disclosure
By Matthew Goldstein The FHFA continues to reveal as little as possible about its pilot project of selling foreclosed homes to private investors in bulk sales. With surprisingly little fanfare, the...
View ArticleUF Weekend Reads
So it appears Uncle Ben a/k/a Fed Reserve Chairman Ben Bernanke finally gets it: to fix the U.S. economy, you need to fix housing. The trouble is the Fed’s remedy of buying $40 billion worth of...
View ArticleThe new Goldman way: Less cushy compensation?
By Lauren Tara LaCapra On a conference call to discuss Goldman Sachs’ new chief financial officer yesterday, an analyst asked departing CFO David Viniar why he was leaving when the stock is at a...
View ArticleGundlach doesn’t whine over his stolen wine
By Jennifer Ablan and Matthew Goldstein Who said bonds are boring? In recent days, Jeffrey Gundlach, the new king of the fixed-income world, has been dominating headlines with his lengthy CNBC...
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Former stock market ‘scalpers’ are vocal HFT critics
By Emily Flitter REUTERS/Rebecca Cook While the Securities and Exchange Commission maintains it does not need to do much to reign in the high frequency trading machines that have taken over Wall...
View ArticleHedge funds love affair with leverage still on hiatus, for now
By Katya Wachtel Last year was a sorry one for the $2 trillion hedge fund industry, when funds lost 5 percent on average. This year managers are doing better, up more than 5 percent for the year,...
View ArticleUF Weekend Reads
Fall really arrives in NYC this weekend. What better time then for Sam Forgione’s weekend reads. Have a whale of a time. From The New York Times: Susan Dominus long read about Ina Drew, the “natural”...
View ArticleUF Weekend Reads
By Sam Forgione This week’s Weekend Reads may drive you back to the big news of the week: The Debates. Just as the candidates’ tone and tenor seemed to drive judgments as to who won and lost, some...
View ArticleSome Hedge Funds Throwing in Keys as “Landlords”
By Matthew Goldstein and Jennifer Ablan All year the big money has been talking up one of the more intriguing trades to emerge from the housing crisis: buying up foreclosed homes in large scale and...
View ArticleWall Street pay: Headed up or down?
It was a good third quarter for Wall Street profits and an even better one for employees: Goldman Sachs and Morgan Stanley set aside another $7.6 billion in compensation during the period, with...
View ArticleGreg Smith says Goldman’s response confirms his criticisms: Q&A
Greg Smith, the ex-Goldman Sachs salesman who stunned the investment bank with a scathing public resignation in March, is now on the defense. Smith, whose book, “Why I Left Goldman Sachs” hits...
View ArticleMost overvalued asset in the rich world is?
The following is a contribution from our chief Federal Reserve reporter, who is out in the field at The Economist magazine’s annual economics conference: By Jonathan Spicer What is the most overvalued...
View ArticleBecoming comfortably numb to income inequality
By Matthew Goldstein and Jennifer Ablan About a year ago, Nobel Prize-winning liberal economist Joseph Stiglitz made a surprise appearance at the Occupy Wall Street camp site in Zuccotti Park, giving a...
View ArticleEminent domain or principal reductions, the bottom line is reducing mortgage...
By Matthew Goldstein and Jennifer Ablan It’s been almost six months since we first reported on the plan by Mortgage Resolution Partners to find a community willing to use eminent domain to condemn and...
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