Financial Markets

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The Future of the Commodity Price Boom

Booms and BustsFinancial Markets

Blog11/21/2007

As late as 1999, oil was trading at $10 per barrel and gold at $250 per ounce, down from their nominal peaks in 1980 of $39 and $850 respectively. And that's not even adjusted for the fact that the value of a dollar was a lot lower in 1999 than in 1980. Many pundits at the time argued that...

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SEC: The Great Overseer Fails in Oversight of Self

Financial MarketsInterventionism

Blog11/19/2007

Today it was announced that the Securities and Exchange Commission (SEC) had a material weakness in the internal controls over its financial reporting. The SEC avoided a big fat "E" last year via its...

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Fannie Mae: Fuzzy Math = Transparency

Financial Markets

Blog11/15/2007

Peter Eavis has an interesting piece on Fannie Mae and the way it changed how it discloses its bad loans. Fannie's loss ratio appears to be escalating while Fannie's...

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Warren Buffett: "There's never just one cockroach in the kitchen."

Financial Markets

Blog11/03/2007

Leland C. Brendsel is accused of presiding over accounting manipulations and running Freddie Mac in a reckless manner. Buffett, one of the most successful and revered investors, sold a huge stake in the mortgage funding company before the manipulations came to light, and the

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Warren Buffett Has An Austrian Economics Moment

Financial MarketsInterventionism

Blog10/27/2007

Remember that Citigroup, Bank of America Corp. and JPMorgan Chase & Co. have formed a superfund to bail out troubled structured investment vehicles (SIV). The US Treasury Department and Henry Paulson "back"...

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Sarbanes-Oxley: Helping to Nationalize Accounting & Auditing

Financial MarketsInterventionismMoney and Banking

Blog10/08/2007

Sarbanes-Oxley, of course, was just a small step along the yellow brick road that will lead to total rule over private industry, especially in the realm of accounting and audit. Talk is heating up regarding the new Treasury Advisory Committee on the Auditing Profession....

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Sarbanes-Oxley: Costs, Costs, Costs

Financial MarketsMoney and Banking

Blog09/26/2007

David Weild, former vice chairman and executive vice president of The NASDAQ Stock Market, speaks out on SOX. He makes some sober remarks, but at the same time he walks on coals...

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Ooh, The Germans Are Mad at Me! I'm so scared!

Financial MarketsLegal SystemPolitical Theory

Blog09/19/2007

The European Court of First Instance's decision to support the European Commission's Microsoft decision has produced some entertaining public discord between the European and U.S. antitrust authorities. On Monday, Justice Department antitrust chief Thomas Barnett...

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