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Liquor Before Beer – In the Clear
I am in Argentina today, but still have found time to read a rather provocative speech by David Einhorn, who is President of Greenlight Capital, a "long-short value-oriented hedge fund", which he began in 1996. Einhorn has long been a critic of the current investment banking business, and today he discusses the problems with not only the proposed new government regulations (or lack thereof), but also the problems with the US debt and our currency valuations. It is a most thought-provoking and fun speech.
It is especially poignant as I sit in a country that has seen the ravages of hyper-inflation,…
28Oct2009 | Outside the Box | 0 comments | ContinuedObama Administration’s Financial System Overhaul Pushing Us Toward State Capitalism?
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26Jun2009 | Money Morning | 0 comments | ContinuedGoldman’s Share Offering
Not a fan of socialism? Me either. But, if the federal government has to backstop free market excesses with taxpayer dollars, how will it eventually unravel the veil, or tarp of intervention? Or should it? The answers are about to unfold before our eyes.
In the case of the government and Goldman Sachs Group Inc. (GS), a decision on whether Goldman can repay government bailout money and be freed to pay its employees whatever it wants, may determine the winners and losers coming out of this financial collapse, and what kind of government Americans will end up with.
In her extraordinary 1999…
15Apr2009 | Money Morning | 0 comments | Continued
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