Who watches the Watchmen? Elizabeth Warren, apparently…

My own Senator from the Commonwealth of Massachusetts, Elizabeth Warren, kicking ass and taking names: Erin, let’s think about how we might work some of these questions and issues (and the debate over them) into E.6 of GOV?

Research and visual aids for INV

This is a running list of images and video for the INV storyline written by Eisa Davis, first workshopped for presentation in February 2013 at HERE’s Culturemart festival in New York City. INFO & TRADING ROUNDS. Mayor Bloomberg ringing the NYSE opening bell, Oct 31, 2012 And for something sillier, Robert Downey Jr. ringing to … Continue reading

Interstitial (trading round) videos

T.1 (preshow) Robert: introductory promo video playing (on loop?) at start MEDIA SAMPLES: COMPANY AD, TRAILER   T.2 (after E.1) Erin: maybe about the Currency Industry? Showing what money is, the different aspects of it? Or a rudimentary econ lesson about how money moves etc (like the Banking YouTube videos we found?) Have this conversation … Continue reading

The Stock Market: Explained! by 1950s educational videos

Two gems I found on DVD. Sadly, since I don’t own the copyright, and don’t feel like getting into a kerfuffle with anyone, for now I’m just going to put them behind a password on Vimeo for our own internal use. So, Team TRADE PRACTICES, you know what to do. If anyone else is reading … Continue reading

Talking Heads on Money – Media Sample

Peter Schiff was right: Jim Cramer on Mad Money: Squawk Box: The Kudlow Report: CNBC Fast Money:  

Fidelity Fiduciary Bank

Mr. Dawes Sr, Mr. Banks and Bankers: If you invest your tuppence Wisely in the bank Safe and sound Soon that tuppence, Safely invested in the bank, Will compound And you’ll achieve that sense of conquest As your affluence expands In the hands of the directors Who invest as propriety demands You see, Michael, you’ll … Continue reading

State Bank of North Dakota

North Dakota’s been in pretty good shape since the financial crisis — the only state to have consistent budget surpluses, a low unemployment rate, the lowest foreclosure rate. Yes, it’s got oil — but when compared with other oil-drilling states (Alaska, for example) its stats are unreasonably good.  Many people say that’s because of the … Continue reading

LIBOR Manipulation Emails

Earlier this week, news broke that LIBOR, the London Interbank Offered Rate, has been manipulated by at least one bank (Barclays). LIBOR is “the bedrock of the financial system — the majority of American mortgages are somehow pegged to LIBOR.” LIBOR is a “global interest rate, calculated every day, which tells you how much interest … Continue reading

Woolley’s Ten-Point Manifesto

A 10-point memorandum targeted at what Woolley calls giant funds, the custodians of social wealth, which he defines as sovereign funds, corporate and public pension funds and university foundations and endowments. Woolley’s thesis is that these giant funds have become unwittingly complicit in the creation of a vast unstable monster that the global financial system has … Continue reading

What good is Wall Street?

notes and quotes from Cassidy, John. “What Good is Wall Street?” The New Yorker. 29 November 2010. Big banks have transformed themselves from businesses whose profits were tied to the needs of their clients to huge trading houses whose focus is exploiting daily movements in markets. Constant need to invent new financial products to sell — this … Continue reading

Monopoly Economics

The perennially popular board game Monopoly is a reasonable simulacrum of capitalism. At the beginning of the game, players move around a commons and try to privatize as much as they can. The player who privatizes the most invariably wins. But Monopoly has two features currently lacking in American capitalism: all players start with the same amount of … Continue reading

Banks and Business Owners

What bankers are looking for — how to prepare yourself and your business in order to get a loan (via EHow, “What do bankers look for in a business plan?”) Think like a lender — the lender will need to know: How your business will run and why you think you will earn profit. How you … Continue reading

What Do Bankers Do?

via The World of Wealth, “What Does a Banker Really Do?” Bankers are people whose job is to raise loans and deposits. Some are commercial bankers (focusing on businesses) and some are personal bankers (focusing on individuals). So my job, when it’s boiled down, is to originate loans. I do a lot of real estate stuff … Continue reading

Niche Market Banks

Tribe introduced www.niche-banking.com in 2011, meant to be offer “banking experiences for niche communities.” These banks are online only, very specifically targeted. Is this really a way to “make financial services more relevant to customers?” The first niche bank launched was Wag, meant for dog lovers. The website is not yet a functioning bank, but it intends to … Continue reading

Banks!

Banks –  Concerns for Startups  (via Pinsky Law, “Banks“) Banks are a major source of both short term and long term funding for many conventional companies. Through borrowing, an entrepreneur is able to acquire the funds he needs to operate his business without giving up control of a business. For startups the principal problem with … Continue reading

The Giant Pool of Money

notes on Blumberg, Alex and Adam Davidson, “The Giant Pool of Money”  This American Life 355, 9 May 2008. There is this long chain of people that starts with these Wall Street guys and ends with people who stand to lose their houses. And all along that chain there were bankers, and brokers, and investors, and … Continue reading

Is the Party Over?

[commenting on Sherman’s “The Emasculation of Wall Street”] notes on Lavelle, Louis. “Wall Street: Is the Party Over for MBAs?” Bloomberg BusinessWeek (online). 7 February 2012. – Big cuts in compensation have been accompanied by a decrease in recruiting and hiring of baby investment bankers. -Probably has the most to do with an oversupply problem — there … Continue reading

The End of Wall Street As They Knew It

notes on Sherman, Gabriel. “The End of Wall Street as they Knew It.” New York Magazine. 5 February 2012. From the outside, the seven- and eight-figure payouts that star bankers earned could seem obscene, immoral even. But on the inside, the outlandish compensation reflected a strict, almost moral logic. -Wall Street as meritocracy means that the bonuses are … Continue reading

Mergers & Acquisitions Basics

M&A— a company must have a strategic rationale for completing an M&A transaction. The goal should be to drive either an immediate or a near-term increase in shareholder value. Principle constituents of any M&A transaction – shareholders, employees, regulators, union leaders, credit rating agencies, equity research analysts, debt holders. Investment bankers have to render a fairness opinion to companies involved, … Continue reading

Basic Investment Banking/Hedge Fund Definitions

Investment banking: work with corporations that want to raise capital through public or private capital markets, risk-manage existing capital, complete M&A related transaction. Provide financing through direct investments in corporate equity and debt securities, provide loans.  A bond is debt in the form of a security, issued as a long-term obligation of a borrower with a … Continue reading