Bloggingheads, New Way Forward, and protests this Thursday

Two things of interest.

Bloggingheads

I was recently on bloggingheads with Jesse Eisinger, who was one of the two co-writers of the excellent ProPublica story on Magnetar.

Magnetar is the hedge fund that help keep the housing bubble alive in 2006 and 2007 by betting against it. This story became a must-listen The American Life episode on the subject. The story of Magnetar was also featured by Yves Smith in her book Econned.

The point Jesse brings up at the beginning of this clip is important on the directionality of the 2006-2007 market. I really do think this story, one of the great ones of the financial crisis, is an important example of creating a bubble, instead of correcting a bubble, just to short it. How could you reconcile this with an efficient markets hypothesis?

A New Way Forward

A New Way Forward is a good center for a list of the latest information on financial reform, especially for a list of demonstrations, protests, etc. they and others will be holding. They are also protesting this Thursday in New York on Wall Street, for the Showdown With Wall Street:

WHEN: 3:30pm: Assemble • 4pm: March and rally
WHERE: Next to City Hall Park, NYC (Enter at Broadway and Chambers St.)

I am excited to be attending, and am debating exactly how elaborate to make my sign. Shoot me a message or comment if you will be there.

(I was at the first wave of A New Way Forward protests in San Francisco in March 2009. Awesome job to their crew for keeping up the energy in this difficult battle.)

They also have a petition to sign about breaking up the big banks vis-a-vie the SAFE Banking Act of Kauffman-Brown.

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2 Responses to Bloggingheads, New Way Forward, and protests this Thursday

  1. Thanks for the love, Mike! Right back at you–

    ZT

  2. Anjon Roy says:

    Good to see folks like you being a great uber-financial policy wonk / activist hybrid.

    Most of the my friends who are formerly from Wall Street and agree on comprehensive reform are still not quite culturally comfortable enough to be real “activists”

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