Judge Napolitano discusses the Occupy Wall Street demand for a debt jubilee, that is, forgiveness of all consumer debt. Economist Steve Horowitz notes that this would wipe out our financial system. So why do Morgan Stanley’s Stephen Roach and Harvard’s Kenneth Rogoff say this is a good idea? They are joined by the confused Ellen [...]
The very prolific Keith Weiner is launching “KeithGrams”, brief notes on market activity. We hope you will enjoy his insights.
Bank bonds are falling in market value. But realize that a bond is a liability to the bank who issued it. So this leads to a “creative solution” to the problem [...]
When a bank robber named Willie Sutton kept getting caught, he explained why he did it. “Because that’s where the money is”, he said. That’s Sutton’s Law.
In that vein, many market-watchers watch the financials for clues to the economy as a whole. In this credit-dependent economy, that tends to mean the banks rather than [...]
Here’s a story for the decade. Morgan Stanley’s Msref VI, an $8.8 billion real estate fund, lost $5.4 billion, the biggest loss in the history of private real estate equity investing. This story is just out from the Wall Street Journal and it is worth a read.
It isn’t clear from the article, but they bought many [...]
By Jeff Harding.
In a Bloomberg interview today, Steven Roach, Chairman of Morgan Stanley Asia said:
China needs to boost investment in social security, private pensions, and insurance for unemployment and medical care, Roach said, to prompt its consumers to save less and buy more goods from overseas.