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Really? You're the one claiming that individual bankers are an irreplaceable part of the business. That is patently false. People do business with MS because of their reputation and their track record and balance sheet to underwrite the deals they enter into. They don't do business with some...

If Joe leaves (because he's a racist twit who can't work well with the new ownership and management), Dick will just step into his place. Those institutions are large enough that they don't entrust any single person with complete 'ownership' of a client relationship. Its a team of...

And that's a problem, why?? If they 'walk', then they won't have to be paid severance. "MS rainmakers", what the f*ck are you talking about? Or wait, are you one of those wall-streeters who thinks his/her job is one-of-a-kind, and irreplaceable? The people who leave will be replaced, in case...

Why would the housing market 'recover'? Its currently reverting to something that more closely resembles fair value. Fair value being essentially, construction costs (land has no value since it is essentially infinite in the United States). Since there are more houses than people to occupy...

What's wrong with the Chinese buying and running a US investment bank? American firms send their own people to China to run subsidiaries. The Chinese have every right to do the same. Remember, it was American-style 'thinking' that got the banking industry into the trouble it is in today...

There's plenty of smart people in America. But just no jobs for them. Guys with MSEE's have to *grovel* for $60k/year jobs, and then kiss the ground every day they're allowed to keep their job. Ph.D's are perpetually kept 'employed' in our universities as postdoctoral fellows, at pay of...

But the problem with most of the mortgages that are out there is not one of payments, but is rather one where the interest rate on the loan exceeds the amount of steady state cashflow the borrower *truly* has available for housing. How did this happen? Well, people obtained loans either upon...

I wouldn't say 'failing'. "Reverting to fair value" would be a better way of putting it... Its truly amazing that any entity, domestic or foreign, would lend money to anyone in the United States, a place where inflation is running > 5%, for less than inflation. Its truly amazing that...

Sure, that 30 year debt would go from 5.5% to 8%, but it would also lose 30-40% of its value overnight, based on having a duration of ~15 years. Empirical duration on long-term MBS is expanding at a rapid pace right now because *nobody* is refinancing (because of no equity, and because of...

I'd like to go diesel + natural gas cofiring for my next vehicle. Or diesel + propane. They are synergistic fuels; natural gas or propane injected into a diesel-burning engine causes the diesel to burn more completely and cleaner. And such engines can run solely on diesel which is much more...

Nuclear power is part of Iran's economic development platform, to free more oil and gas for export, to earn income from abroad. I have no clue whatsoever why the United States or anyone opposes Iran's development of its nuclear industry. After all, more Iran O&G available for export would...

I'm buying oil stocks with long-life reserves that are trading at 3-5X trailing earnings. 'nuff said. That stuff *has* to revalue at some point in time or another.

If they make traders post 100% margin on their contracts, a few things will happen: 1) The activity will simply go offshore, to wit: the trading will be done at an exchange in Tehran or Toronto, instead of in the United States where the CTFC can regulate. 2) Many oil projects *rely*...

Explain to me why any firm would want to hire the same bums that drove a bankrupt firm into bankruptcy? Finance is finance, even a squirrel with a peanut for a brain can lend money. There's absolutely nothing to be gained by raiding other firms for employees.

I would be very pleased to take every last drop of Libya's oil production at $40 if they're willing to sell for that, for the next 20 years. That oil minister needs to put his money where his mouth is.

Sure Bylo, but people already own far too many houses and cars. So how does deflation in those assets help the average person? Not at all. In fact, as prices rise on the necessities, there will be less money available to buy (and/or service the debt on) luxuries such as housing, cars, etc...

I consume more. Much more. High oil prices make a lot of things far more affordable when ordinarily they wouldn't have been affordable. Like I've flown more flights this year for pleasure (~50 so far this year) than I have flown in the past decade. I drive faster. Every time the price of...

Wah, wah, the business model of relying upon 'magic' money, instead of taking deposits and investing in mortgages and business loans the old-fashioned way is broken. I'll be sure shedding tears (not!). The sooner the better, I say.

30bp. woo-hoo! Big f*cking deal, unless you're an extremely highly levered speculator or arbitrageur.

The stock market is a play on the declining US dollar and lowered interest rates. Sure the financials may go bankrupt, but I personally would trust the stock market to retain my wealth far more than I would putting it into cash with a negative real yield, or into longer-term bonds which will...