1
Morning Reading
Good morning. Hope you had a good weekend. Short list this morning:
The administration's plan for TBTF (New York Times)
The measure would make it easier for the government to seize control of troubled financial institutions, throw out management, wipe out the shareholders and change the terms of existing loans held by the institution...
The White House plan as outlined so far would already make it much more costly to be a large financial company whose failure would put the financial system and the economy at risk. It would force such institutions to hold more money in reserve and make it harder for them to borrow too heavily against their assets.
Insider trading bust: A waste of time? (Clusterstock)
Protestors swarm bankers convention (Huffington Post)
So the WSJ thinks insider trading is OK! Am I surprised!
I guess they know that catching the people who trade on tips from friends is no big deal, especially since the exchanges allow "insider trading" by allowing computer traders to place their trading computers "inside the exchange" on the floor next to the exchange servers and get info before anyone else. Hey, when you're fleecing the stupid public, microseconds count!
