Ultra-easy central bank policies are about to come back to bite the economy, Gross said in his latest letter to investors.» Read More
In August of 2006, Jim Clark—the founder of Netscape and Silicon Graphics—met with Paulson & Co founder John Paulson. Clark was impressed by Paulson’s plans to short the subprime mortgage market. But when he spoke with his advisors at Goldman, they talked him out of investing with Paulson, who they described as a bit player.
Central bankers compare unfavorably to the devil, America needs a heart transplant, and financial advisors “have failed miserably” at reaching their most important goal, Pimco’s Bill Gross says in his latest commentary.
The managing director of the world’s largest bond fund manager spares scorn for no one in an evaluation of what has happened because of overwhelming debts in global nations.
We're a little less than two weeks away until the White House releases its 2012 budget and both sides are getting ready to battle.
The Republicans continue to vow to drastically cut spending and the deficit. Senator Ron Johnson, the junior Senator from Wisconsin, but he is quickly becoming a big name among hill Republicans.
Delivering the GOP's national weekly radio address last weekend, Johnson said the root of all economic evil facing our nation is “big government" and uncontrolled spending. Sitting on the Budget and Appropriations Committees, the former accountant and manufacturer hopes his "real world" experience will help re-shape Congress' spending habits.
Tahrir Square in Cairo descends into riots. [CNBC via Reuters]
"Clashes After Egypt's Army Calls for End to Protests" [Wall Street Journal]
Monetary tightening eyed in China. [NY Times]
In New York City, it's icy, slippery, and slushy. [New York Post]
More deal mean higher profits at Lazard. [Dealbook]
One more thing to worry about: An uptick in civil wars. [Business Insider]
Barry Ritholtz on Wall Street compensation. [Ritholtz.com]
Steve Sailer points out why our aid to Egypt doesn’t seem to buy us as much loyalty as it once might have.
The deal struck at Camp David in 1978 was, very roughly, that, in return for no more war, the U.S. would give Israel $3 billion per year and Egypt $2 billion per year \($1.3 billion of which went to strengthen the military\), or $50 per Egyptian per year. That wasn't bad money back then.
Seriously, if I got over the icy bridge at 2am- you can get a move on, too. Here's what you missed while icicles formed on your eyelids:
Are we we experiencing a quiet constitutional crisis?
It’s well known that Judge Roger Vinson ruled yesterday that the individual mandate exceeded the powers of the federal government under the Commerce Clause. But he also ruled that because the law lacked a severability clause and the law’s proponents had argued that the individual mandate was a necessary part of the scheme, the entire law was invalid.