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’AIG and the Fed, not above water but drowning?
Thursday’s story, that the Timothy Geithner-headed Federal Reserve Bank of New York tried to cover up certain details of mega-insurer AIG’s bailout in 2008, has finally prompted some responses from US Treasury — where Geithner is now head.
Weird waterfalls and the synthetic CDO stumper, part deux
Last week, the machinations of two Goldman Sachs synthetic CDOs made waves across the internet and structured finance industry.
In short, Goldman Sachs paid off (at face value) some junior tranches of two CDOs — Abacus 2006-13 and Abacus 2006-17 — at the expense of senior tranches.
Battle of the financial pundits
We at FT Alphaville are not getting involved in this one, though we think our readers might want to wade in.
The very vocal Janet Tavakoli, of Tavakoli Structured Finance, has been in an ongoing spat with Black Swan man Nassim Nicholas Taleb.
Quotes du jour, Gasparino pugnacity edition
From the FT’s profile of CNBC’s Charlie Gasparino:
Gasparino thrives on being awkward, even on being disliked, within CNBC. It burnishes his image as a tough outsider willing to go to battle with anyone – colleague or contact – in pursuit of the story.
Taleb vs Tavakoli, a post-it update
The spat between Janet Tavakoli and Nassim Nicholas Taleb refuses to go away.
The Black Swan man has updated his notes to the copy of the GQ profile posted on his website:
Those having a hard time keeping up should read the links below,
The notional Taleb
Remember the clash between Janet Tavakoli and Nassim Taleb over a profile of the Black Swan man in GQ?
Tavakoli, of Tavakoli Structured Finance, highlighted a seeming error in the GQ article, which was penned by novelist Will Self.
Tavakoli really does have issues with Taleb
Seems we were being a bit charitable when we wrote on Monday that Janet Tavakoli, of Tavakoli Structured Finance, was criticising the journalistic manner of men’s magazine GQ rather than Nassim Nicholas Taleb’s honesty.
Bailing out the bad guys
“Black Barts not black swans”
“Wall Street perpetrated a massive fraud on the American taxpayer.”
“Value-destroying financial meth labs.”
Janet Tavakoli, author of Dear Mr Buffett, is pretty straightforward.
Tavakoli: Global risks are greater now, thanks to hedge funds
Some interesting responses to the FT’s reports on May 2, that the FSA claims that hedge fund gearing has decreased, and on May 3, that the New York Fed suggestion that there is no close correlation between hedge fund returns before and after the 1998 implosion of the LTCM fund.