best quote: "like you were going to write Finnegans Wake on someone's wall or some shit?"
- Andy Baio
As the expression of culture moves more digital and communication is more frequently done through social graphs-- yes, I think the chance of someone posting a significant work as a Note is rising.
- Jeremy Dunck
Anytime I get a sudden boost of followers, I know someone, somewhere is giving a Twitter presentation to public broadcasting people. Yay! - http://jmproffitt.tumblr.com/post...
Facebook sends phishy-looking e-mail to millions of users saying "We've lost your e-mail notification settings." Facebook FAIL. - http://www.reddit.com/r...
"The era that defined Wall Street is finally, officially over. Michael Lewis, who chronicled its excess in Liar’s Poker, returns to his old haunt to figure out what went wrong."
- Chris Messina
from Mento
In the two decades since then, I had been waiting for the end of Wall Street. The outrageous bonuses, the slender returns to shareholders, the never-ending scandals, the bursting of the internet bubble, the crisis following the collapse of Long-Term Capital Management: Over and over again, the big Wall Street investment banks would be, in some narrow way, discredited. Yet they just kept...
more...
- Jason Wehmhoener
The article is riveting. It's one thing to have a gut instinct telling you something is rotten, but an entirely different thing to make short bets against BBB bonds like Steve Eisman did (and win). What a tragic genius.
- Jason Wehmhoener
That’s when Eisman finally got it. Here he’d been making these side bets with Goldman Sachs and Deutsche Bank on the fate of the BBB tranche without fully understanding why those firms were so eager to make the bets. Now he saw. There weren’t enough Americans with shitty credit taking out loans to satisfy investors’ appetite for the end product. The firms used Eisman’s bet to synthesize...
more...
- Jason Wehmhoener
It's strange. I've followed the subprime story pretty closely, but every few weeks I learn something that makes me realize the situation is 1000 times more ludicrous than I imagined. It just keeps getting weirder.
- Jason Wehmhoener
The shareholders who financed the risks had no real understanding of what the risk takers were doing, and as the risk-taking grew ever more complex, their understanding diminished. The moment Salomon Brothers demonstrated the potential gains to be had by the investment bank as public corporation, the psychological foundations of Wall Street shifted from trust to blind faith. No...
more...
- Jason Wehmhoener
Nice, I just started a request. All feedback seems to be public though, provided the other party enters the right, existing URL (there is no registration system).
- Philipp Lenssen