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POPSWho Will Hire Our Bankers? In the last week I've talked to people who think it's a *great* idea to tax away bonuses of anyone working for TARP recipients. 'But what if it causes all the good people to leave?' I ask. 'Wah wah wah. Where will they go?' 'Here's where.'
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POPS2008's Worst Predictions Funny list. I would have looked for some of the people who were arguing that it would be good for the market to let Lehman fail. Oops!
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POPSBailout More Expensive than World War II? Now Treasury Secretary Henry Paulson and Fed chair Ben Bernanke would be quick, I think, to dispute that $4.6165 trillion dollars is a cost. A lot of apples and oranges (and grapes and berries and pomegranates) to get to that figure. The point that either way we're talking about a lot of fruit, howvever, is an important one.
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POPSGreat New Hedge Fund Saw this humor site in WSJ's Heard on the Street this morning. Here's one of Strategery's top competitive advantages: "We are not limited to looking for opportunities with positive expected returns and so can cast a broader net across the investment universe, thus extending our efficient frontier beyond what other hedge funds can offer."
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POPSSo what happens if Paulson is a genius? This article elegantly lays out the best-case scenario for the Paulson Plan. Funny how things could backfire. Right now at least some politicians are opposing this thing because of election concerns. They're going to have different election concerns if they voted against a plan that, in a couple years time, stopped a financial meltdown and earned a trillion dollars for the taxpayer.
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POPSLet Hank Get Some Sleep! Whatever your feelings about the bailout you gotta acknowledge this: Paulson is a machine. I have no idea when he's possibly gotten any sleep since the Fannie and Freddie takeover. And he had to have been laying the groundwork for that for at least a week. I'm guessing he's barely slept since August. I hope he's okay.
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POPSHenry Paulson Double-Dog Dares You Vince Reinhart is one of the best commentators on the issues. I've been trying to get an interview with him for a couple of days, but he's a busy guy right now it seems. I guess reading his story will have to be the next best thing.