Insider traders appear to be pretty careful in choosing their accomplices. Of the known pairs of people who provide and act upon private information (“tipper and tippee”), 64% met before college, and 16% met in college or graduate school. Another 23% are family relations — more siblings and parents than aunts and uncles, despite the added capital that the latter might have provided. Tips are also commonly shared among people with ethnically similar surnames: Of 24 tips coming from people with Celtic surnames, for example, 14 went to individuals who also had Celtic surnames.
Tag: finance
Central banks buying assets
Central banks around the world could raise rates of price inflation, and boost aggregate demand, if they were allowed to buy corporate bonds and other higher-yielding assets. Admittedly this could require changes in law and custom in many countries There is no economic theory which says central banks could not do this, as supposed liquidity traps would not apply. These are not nearly equivalent assets with nearly equivalent yields.
LIBOR scam
all bankers are fundamentally banksters. this scam did 10s of billions of damage.
Was Tom Hayes Running the Biggest Financial Conspiracy in History?
US P&L
TIL that the us government publishes a yearly financial report, with assets and liabilities. makes sense. assets: 3 trillion, liabilities: 20 trillion
The $9b Witness
Holder’s Justice Department struck a series of deals: cash for secrecy. The banks paid big fines, without trials, only secret negotiations that ended with vague, quasi-official papers called “statements of facts,” which were conveniently devoid of anything like actual facts.
turns out the change we can believe in was not what you thought when you naively cast your vote in 2008, and again in 2012.
Pot Stocks
battle of the finance bros.
“But who cares about any of that?. Look, Theo. There’s money to be made. One guy I read about: 4 trades, he paid off the loans on 2 cars. Can you imagine?” The first words out of Theo’s mouth were, “OK, I’m in for $5000. What’s the next step? Let’s go make a trade!” “Whoa, Nelly. The stock market isn’t open on weekends.” “It isn’t?”
Regulatory Capture at the NY Fed
an unsurprising story of regulators being captured by banksters.
A confidential report and a fired examiner’s hidden recorder penetrate the cloistered world of Wall Street’s top regulator—and its history of deference to banks.
Accounting grandeur
Accounting in the modern sense was still a new idea in the 1500s, one with a weight that carried beyond the business world. A proper accounting invoked the idea of debts paid, the obligation of nightly personal reckonings, and even calling to account the wealthy and powerful through audits.
Sharing Finances
what happens when you have a shared account with one person 10k in the black and the other 10k in the red. good times.
Buttcoin 2.0
Of course this will catch a lot of people off guard. Some combination of DACs, distributed contracts, software, non-BTC asset transfers and higher protocol layers will render more trusted third-party intermediaries of the paleoeconomy (and their handlers) irrelevant. Large portions of the economy invested in centralized stock and bond exchanges, asset and derivatives markets, and even legal provision could become redundant sooner than many know. Should these ventures succeed, the Bitcoin community will face another round of public scrutiny and pressures to justify or amend their existence. Someday, they might be able to just ignore them. The implications are unclear but uncomfortable.
Gregor J. Rothfuss 