Libor Cartels and Hedge-Fund Failures - Bloomberg View

But every hedge fund manager will be tempted to analyze the winning positions as thwarted brilliance and the losing ones as unforeseeable bad luck.



Libor Cartels and Hedge-Fund Failures - Bloomberg View

How Wall Street Led LendingClub Into Crisis - Bloomberg

How Wall Street Led LendingClub Into Crisis - Bloomberg:



Crony capitalism





Laplanche was on cloud nine over Mack’s arrival, one person close to the matter said. A few months later, Meeker joined him on the board, and Kleiner invested $15 million. Next came Lawrence Summers, the former U.S. Treasury secretary. He had been referred by�Dave Goldberg, then head of SurveyMonkey Inc. He’s the late husband of Sheryl Sandberg of�Facebook Inc., which Morgan Stanley had taken public in 2012.

The Academic Finance Papers That Changed My Mind - Alpha ArchitectAlpha Architect

The Academic Finance Papers That Changed My Mind - Alpha ArchitectAlpha Architect

Cracks are appearing in fintech lenders — FT.com

"Bad loans are always bad loans, no matter how you disguise them"



Cracks are appearing in fintech lenders — FT.com

LendingClub's Troubles Bring Back Bad Memories - Bloomberg View

LendingClub's Troubles Bring Back Bad Memories - Bloomberg View

Crooks, terrorists, tax evaders: Can new shell company rule stop them? | Reuters

Crooks, terrorists, tax evaders: Can new shell company rule stop them? | Reuters

Banking’s New Normal - The New Yorker

Banking’s New Normal - The New Yorker

Economic Musings - Marketplace Lending Takeaways

Banking is hard



Economic Musings - Marketplace Lending Takeaways

Three Things I Think I Think – Thinking Edition | Pragmatic Capitalism

Three Things I Think I Think – Thinking Edition | Pragmatic Capitalism

How Finance Took Over the Economy - Bloomberg View

How Finance Took Over the Economy - Bloomberg View

John Lanchester � When Bitcoin Grows Up: What is Money? � LRB 21 April 2016

John Lanchester � When Bitcoin Grows Up: What is Money? � LRB 21 April 2016

Goldman's Blankfein Demands Deepest Cost Cuts in Years - Bloomberg

Goldman's Blankfein Demands Deepest Cost Cuts in Years - Bloomberg

Mortgage Deals and Revolving Doors - Bloomberg View

A "real underwriting effort that was only partially undermined by cynicism and competitive pressures"





Mortgage Deals and Revolving Doors - Bloomberg View

The Brooklyn Investor: JPM Annual Report 2015

The Brooklyn Investor: JPM Annual Report 2015

Q&A With Jamie Dimon on the Future of Finance

Q&A With Jamie Dimon on the Future of Finance

Understanding Derivatives: Markets and Infrastructure - Federal Reserve Bank of Chicago

Understanding Derivatives: Markets and Infrastructure - Federal Reserve Bank of Chicago

Goldman pays $15m over improper securities lending — FT.com

he that sells what isn't his'n buys it back or goes to prison.



 Goldman pays $15m over improper securities lending — FT.com

Nomura traders cheated clients, taught employees to lie: feds | New York Post

What not to do...



Nomura traders cheated clients, taught employees to lie: feds | New York Post

Taking a long view on corporate reform - The Washington Post

Taking a long view on corporate reform - The Washington Post

Facebook Earnings and Swap Hedges - Bloomberg View

Facebook Earnings and Swap Hedges - Bloomberg View:



 Wall Street "short-termism" is just about who should get to make decisions with capital. If you are bad at investing�capital, investors will keep you on a short leash, and ask for their capital back if you have any to spare so they can put it to better uses. If you are great�at investing�capital, sure, buy a virtual-reality headset company, build driverless cars, shoot rockets to Mars, whatever, go nuts. Long-term corporate investment and deep basic research is possible, but you have to earn it.