derivatives

From Annaly Capital Management For those who missed it (and we had, until we were tipped by James Aitken, thank you very much), a vital paper was posted to the New York Fed’s website in the beginning of the month. “Shadow Banking,” a staff…

Goldman Sachs (GS) and the SEC (Securities and Exchange Commission) have announced a settlement of the suit over the Abacus security case which was a civil action charging fraud by Goldman. According to the SEC announcement, which I watched…

There is a lot more exposure to Italy, Ireland and Spain but we know that Thailand was the ultimate source of the Asian Crisis. These things have a way of metastasising – and we have already seen the strains in Spain and Greece. You could…

I expected this (hat tip Scott). Goldman Sachs is hoping to avoid the Securities and Exchange Commission’s charge of fraud by reaching a settlement on a lesser offence and agreeing to a fine of hundreds of millions of dollars, according…

Last year I told you that Berkshire had 62 derivative contracts that I manage. (We also have a few left in the General Re runoff book.) Today, we have 94 of these, and they fall into two categories. First, we have written 54 contracts…

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Look back at the prepared testimony that Lloyd Blankfein, Goldman's CEO offered to the US Senate two days ago.  In it he clearly defines what Goldman Sachs public purpose is – what its societal function is.  Are they fulfilling…

Below are the prepared remarks of Goldman's CEO Lloyd Blankfein for his testimony tomorrow before the Senate Subcommittee on Investigations. Fabrice Tourre will also testify. Chairman Levin, Ranking Member Coburn and Members of the…

This is a post by Bill Black and Eliot Spitzer which originally appeared at New Deal 2.0. Bill Black is an associate professor of economics and law at the University of Missouri – Kansas City (UMKC). He was the executive director of the…

This is a fiery take on derivatives and too-big-to-fail institutions by Randall Wray which originally appeared at New Deal 2.0. Professor Wray believes naked shorting via derivatives should be outlawed. He goes further to say that the…