From July 28: but I do want to spend a minute enjoying the headline, which is “From Intern to Co-Defendant.” That is really the dream career path. You start out as an intern just making copies and getting coffee — “aboard Barrack’s private planes, Grimes would graciously serve tea and crackers, and was sometimes called upon …
Continue reading “Money Stuff – From Intern to Co-Defendant”
From June 16: Banks take deposits (short-term loans from investors) and use them to fund long-term loans to companies, so everyone gets what they want; there is a whole apparatus of capital and prudential regulation to make sure that it mostly works out, and there are decades of theorizing about how it works and how it …
From June 2: “Beginning today, shareholders can sign up to receive special offers and investor updates by registering at amctheatres.com/stockholders. Investors who sign up starting today and in the coming weeks will be awarded with an initial free large popcorn usable this summer when attending a movie at an AMC theatre in the United States. …
From May 25: Fine, yes, in 2021 the main fact about Bitcoin is that Elon Musk decides whether its price goes up or down. Does that “take away the legitimacy of the asset class”? Man, look around; “legitimacy” is a weird thing to be worried about. I would say that it’s interesting to have a trillion-dollar asset …
From Matt Levine on April 28: I like to cite, around here, Michael Graetz’s two laws of tax: It is always better to make more money than less money, and it is always better to die later than sooner. This seems correct. And I love the follow-on line of thinking: But I am always excited …
From April 15: Second, though, these are like … pre-selected package vacations? (Litquidity has the memo; it says “Click on the link of available trips to pick the package that speaks to you.”) Ew, no. The classy move here is to say “take yourself a nice vacation and put it on the corporate credit card.” And …
From March 10: “The reshuffling of the S&P 500 last month brought lighting supplier Monolithic Power Systems Inc., which has six men and no women on its board, into the Index for the first time. The last all-male board — Copart Inc. — added a woman in July 2019. The gender disparity comes even as …
From February 8th: If Congress could call a bunch of witnesses to say “I was deceived by evil Wall Street banks into putting my life savings into GameStop, and I lost everything,” they absolutely would, and then Something Would Be Done About It. But instead the witnesses are all going to be like “yeah I couldn’t …
From February 5th: Okay let’s do payment for order flow again, because people are talking about it and that always stresses me out. Here’s an intuitive description of how it works. A million people come to a broker to trade GameStop Corp. stock. Half of them want to buy shares, half of them want to …
But I think mostly the answer is that there will be a focus on irrelevancies, a sort of “we have to do something, this is something” approach. “Capitol Hill chatter on possible post @RobinhoodApp – @reddit stock-trading frenzy legislation includes curbs on so-called payment for order flow and short selling,” tweeted Charlie Gasparino, and why not, those are …