Financial Markets

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Michael Oxley Knew Sarbanes-Oxley "could spell trouble"

Financial MarketsInterventionism

Blog04/06/2007

Bob Greifeld, the President and CEO of Nasdaq, was once a great critic of Sarbanes-Oxley (SOX), citing the anti-competitive drag that SOX helped to foist upon his industry. How charming it is, then, to see that Nasdaq has recently brought Michael Oxley - one of the co-founders of SOX - on board...

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China to Move Ahead with Forex Plan

Financial Markets

Blog03/24/2007

I have been covering the emerging trend of central banks "investing" their accumulated forex reserves in equity markets. In the last few weeks it has become clear that this idea appears to have moved from a proposal to a reality. This story is getting relatively little coverage in the...

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Buy when there's ice in the streets

Financial Markets

Blog03/22/2007

The department of some firms will do anything for a buck:

"JPMorgan and Innovest Strategic Value Advisors launched today the JPMorgan Environmental Index-Carbon Beta (JENI-Carbon Beta), the first bond...

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How dare they know more than others!

Financial MarketsLegal System

Blog03/02/2007

It's one thing for a firm to guard its own secrets, and enforce those rules with internal sanctions. But government regulations on insider trading is criminalizing knowledge as such, insofar as it is not in a press release, an notion which wars against the very idea of entrepreneurship....

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Stock scare

Financial MarketsMoney and Banks

Blog02/27/2007

Ah, nothing focuses the mind that a good ol' fashioned stock market sell-off. Nothing is more likely to cause people to decide that Bush is a really bad president, or inspire pessimism about the future. One might think that a war in Iraq and US equity valuations have politically nothing to...

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Robert Samuelsson Finally Gets It

Financial Markets

Blog02/21/2007

In a previous post I discussed how Robert Samuelsson absurdly tried to attribute the tech stock and housing bubbles to lack of inflation rather than existence of inflation.

...

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China to "Invest" Reserves

Financial MarketsGlobal Economy

Blog02/06/2007

An Asia Times piece by Zhou Jiangong earlier this week describes a complicated plan by the Chinese Ministry of Finance to in essence reallocate a portion of its portfolio of US Treasuries and agency debt into other asset...

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Bank of Korea to Lend Reserves

Financial MarketsGlobal EconomyMoney and Banks

Blog01/21/2007

The Korea Times reports in this article on the increasing difficulty that the Korean central bank is having in managing its foreign (mostly dollar) reserves.

China Daily reports...

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China Raises Reserve Requirements Again

Financial MarketsMonetary Theory

Blog01/06/2007

China again raises reserve requirements of banks . This was the fourth time in just seven months that they did this. If they keep this up, fractional reserve banking might be ended in China soon!

No, not really...

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Mischief With Forex Reserves

Financial MarketsGlobal EconomyMoney and Banks

Blog12/30/2006

Brad Setser at RGE Monitor provide this commentary on the management of foreign dollar holdings. Setser cites several sources on the accumulation by governments around the world — mostly of...

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