The Transparency Myth…
“Order, order, order” is the cry coming out of the European Parliament meetings in recent days. The Europeans, in their infinite wisdom, have decided that by imposing a transparency standard on hedge fund managers, all will be right in the world. A panel of EU lawmakers earlier this week approved a proposal that would impose transparency standards on hedge funds. The lawmakers’ intent, they say, is to bring order to what one must assume is an industry in disorder. Of course when one assumes, well, we all know what happens… Dear readers, you and I both know that this law which will be voted on in July, if enacted, it […]
When in doubt spend, spend, spend…
The European Central Bank took a play from the Federal Reserve early this morning in approving a massive bailout of the “weak” economies of Europe. The move intended to “defend the Euro at all costs” was a shot heard round the world as markets rallied on the news. READ HERE The problem is that the European euphoria sweeping global markets is a short term fix to a long term problem. The long term to solution is to reign in spending – not to spend like drunken sailors – or enact legislation that hampers market movements. The E.C.B. needs to develop serious programs that address the serious problems that have wreaked […]