Although it hasn’t been finalized, it appears we taxpayers are going to make a 17-20 billion dollar loan to try to keep the American automobile manufacturers in business. Unlike the bailout of Wall Street, this one has some conditions attached. It will be called a bridge loan, and a repayment plan is to be negotiated with the borrowers, and might mean the firing of G.M.’s CEO, Rick Wagner. Somehow, if that happened, I think he will wish congress a Merry Christmas by telling them to please notice the mistletoe under his coat tails as he departs. He is young, handsome and rich, and will get along just fine on the millions he has made with GM. This morning, when asked at a press conference if he... 

Ever hear of a scheme called, “portable alpha?” Most people haven’t and wouldn’t understand it unless they have had contact with the far side of the securities business. [...] Continue Reading…  Read More →