Brilliant: George Soros managed to gratuitously plug his book during the House Oversight Committee’s hedge fund testimony, according to Wall Street Folly.
Unpopular: No one wants to be a real engineer anymore. The glory is in financial engineering, but Paul Kedrosky thinks that’s about to change.
Blah Blah Blah: More talking, predictions, thoughtful pontificating, etc, from buyout guys.
Sotheby’s Must Be Disappointed: The Fuld art collection isn’t worth as much as initially thought.
Nadir, Indeed: Three-month LIBOR rose for the first time in 23 business days.
More Bad News At Fortress: Hedge-fund related, of course.
Caroline Baum: Debunks the myths propagated by those who are in denial about an oncoming recession. Including “Banks have no exposure to mortgages.”
I Like: Brad Delong’s responses to the three reasons GM has given for avoiding bankruptcy. I especially like his response to reason number three. Just re-brand the term “bankruptcy.”
Deja Vu: Second half of next year, that’s when we’re going to see the growth again, apparently. Seems like growth is always just three quarters away. Kinda like those bars with the “Free Beer Tomorrow” signs. Tomorrow just, never, comes.
That’s Alotta Deficit: Startin’ the new fiscal year off right, we are.