Write-Offs: 05.24.13 »

$$$ Fifth Executive at SAC Capital Receives Subpoena [BusinessWeek / Sheelah Kolhatkar] $$$ Tudor’s Jones Apologizes for Remarks on Female Traders [Bloomberg] $$$ Goldman Sachs Links Bonuses to Protecting Firm Reputation [Bloomberg] $$$ Woman, 47, Faces…

May 24 2013 / Read More »

Penguins Living In Palatial Digs Have Stepen Schwarzman To Thank »

SeaWorld Entertainment’s Antarctica: Empire of the Penguin attraction, opening today at the company’s namesake theme park in Orlando, features 50-foot glaciers, 2,500 glass icicles and up-close encounters with 230 penguins, dusted daily with 6,000 pounds…

May 24 2013 / Read More »

America's Bubble Economy Is Going To Become An Economic Black Hole »

Submitted by Michael Snyder of The Economic Collapse blog, What is going to happen when the greatest economic bubble in the history…

May 24 2013 / Read More »

The Final Days of Gary Gensler »

Gary Gensler is very close to getting his wish to not be CFTC chairman anymore. As for his wish for a better job than CFTC chairman,…

May 24 2013 / Read More »

The Week That Was: May 20th - May 24th 2013 »

Succinctly summarizing the positive and negative news, data, and market events of the week... Positives Yahoo acquires Tumblr for…

May 24 2013 / Read More »

Dead Cat Bounce Deja Vu Ends 2nd-Worst Week Of The Year For Stocks »

The 2nd worst week of the year (2nd only to Cyprus) for US equities was accompanied by Treasury buying as the JPY carry trade unwind…

May 24 2013 / Read More »
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Succinct Summations of Week’s Events (May 24 2013) »

Succinct Summations for the week ending May 24. Very light data week despite all the noise. Positives: 1. U.S. jobless claims fell 23k to 340k v expectations of 345k. 2. Housing remains a significant tailwind in the U.S. as existing home sales increase 0.6% m/o/m in April to…

May 24 2013 / Read More »

Yet Another Debt Chart That Is Not Big Enough To Fit Japan »

By now every single chart laying out every possible permutation of a hopelessly insolvent and overlevered world has been compiled, created, colored and in some cases, animated and socially networked. The following chart showing global debt dynamics over time from the WSJ is…

May 24 2013 / Read More »

Argentina Just Realized That One Of Its Default Holdouts Owns A Factory In Buenos Aires »

So they raided it, as part of a totally non-retaliatory tax investigation. So non-retaliatory, in fact, that the federal tax agency felt it could casually mention in its press release that Ken Dart is among the “vultures” using “judicial colonialism” to deprive Argentina of…

May 24 2013 / Read More »

Citadel Would Like The Fees It Wrongly Paid Back »

We’re going to guess that the options exchanges being sued by Citadel and three other firms plan to dispute the following statement. “There is no dispute that the exchanges improperly charged fees to…

May 24 2013 / Read More »
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The Rich Actually Are Different

With the long-weekend rapidly approaching, ConvergEx's Nick Colas takes a trip to the Hamptons, but through a time warp back to the Great Depression.  Examining the social registers (colloquially called…

May 24 2013 / Read More »

Discussion in Spain on Leaving the Euro; Euro Exit Manifest

Some common sense discussion is taking place in Spain regarding the necessity of Spain exiting the eurozone. For example, please consider Opposition to the euro breaks: first manifesto to leave the single…

May 24 2013 / Read More »

Mervyn King: More Common Sense

Bank of Finland, Helsinki. 24th May 2013. What have we learned from the crisis? Mervyn King gave a speech in Helsinki Finland today just before he takes retirement from the Bank of England in which he…

May 24 2013 / Read More »

ANF: KaBoom

Oops....Abercrombie & Fitch, one of the "you must be >< this small to wear these pants" companies allegedly loved by teens and "trendy" folks, reported this morning and is getting slammed for more than…

May 24 2013 / Read More »
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