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Some Political Musings: Romney at War

We have finally figured out the one issue on which Governor Romney is consistent: War. Make economic war on China for providing goods to the world less-expensively and more efficiently than anyone else. Make war in the Middle East economically and otherwise for those countries not sharing our political and religious views nor, any longer, […]

It’s Been a While

Yes, it’s been too long, in my view at least, since I’ve last put a pen to paper, so: ArtAssure Ltd. News Moss: Dialogues Between Art & Design, the auction organized , curated, and executed by Murray Moss and ArtAssure was a resounding success. With all results in and counted the sales rate by value […]

“The One Housing Solution Left”

April 8, 2008: “A Real Rescue Plan” by Asher Edelman August 13, 2012: “The One Housing Solution Left: Mass Mortgage Refinancing” by Joseph E. Stiglitz and Mark Zandi In April of 2008 we put forth a plan to improve the economy through profitable government assistance to homeowners. Today, August 13, 2012, the plan was put forward under […]

REVOLT magazine: The Occupations of Asher Edelman

Asher Edelman can be described as standing, prominently, between 2 worlds. His Wall Street career, beginning in the 1960′s, in investment banking, money management and derivatives trading not only brought renown but enabled him to build significant collections of contemporary and Modern art as well as antiquities. In the same year, 1988, that he famously taught […]

EU, The Truth of the Matter

Of the €400 billion plus in rescue funds loaned to Greece all but €15 billion went to assist the banks. Almost all of what was received by the banks was recirculated to the sovereign coffers. The emergency loan pledged to Spain of up to €120 billion is earmarked to aid the banks who, in turn, will re-lend most […]

The Edelman Shock Market Index

There is no Edelman Shock Market Index, only a bit of intuition and experience. My intuition and experience say, “never predict markets,” but the Emperor’s Clothing, or lack thereof, are about to be noticed. French 5 Year CAC 40 Index Spanish 5 Year IBEX 40 Index Japanese 5 Year Nikkei Index In different ways, but […]

Musing on Derivatives

I read with interest in the Financial Times today about “Morgan Stanley’s plan to shift a large chunk of its $57 trillion derivatives portfolio into the part of the group backed by customer deposits…” In the same article, a “looming Moody’s cut could cost Morgan Stanley $9.6 billion…” J.P. Morgan must be restive in his […]

Musings on the US Deficit and Debt

I read today in the New York Times that between 2008 and 2012 government (taxpayer) subsidies to the banks equaled $1.3 trillion. As those of you who read my missives know, my estimate was considerably lower. At the same time, we are informed that the Fed has expanded its balance sheet by $4 trillion in […]

Musings on the Art Market

The May auction performances gleaned countless viewers, gawkers, critics and some buyers; indeed a sufficient number of buyers to drive the prices of a small number of pictures to new records. The rotation within the small pyramid at the top continued.  Munch entered, a Viking. Prince exited, a bad joke too many. Basquiat trumped Hirst. […]

BANCO SECOND EPISODE

All the talk about Jamie and J.P. Morgan’s strength. One wonders about the relative strength of JP CHASE in the last crises and since. Has Jamie used the flexible accounting regulations to avoid mark-to-market and, perhaps, look better than the other banks? One wonders, what does tomorrow bring for Jamie’s bank? Will the losses become so large that […]