Paul Kedrosky's Infectious Greed

Coping with Chaos
Moody’s is Going to Need a Bigger Boat
Where are the Papers?

Posted: 19 Aug 2011 12:05 PM PDT

“Danger, disquiet, anxiety attend the unknown — the first instinct is to eliminate these distressing states. First principle: any explanation is better than none."
- Friedrich Nietzsche

via The Physics of Finance: Coping with chaos — with false certainty.

Moody’s is Going to Need a Bigger Boat

Posted: 19 Aug 2011 11:54 AM PDT

Moody’s is going to need a bigger boat:

My name is William J. Harrington. I was employed by Moody's Investors Services ("Moody's) as an analyst in the Derivatives Group from June 1999 until my resignation in July 2010.

Lots more in an SEC filing here. None of it good for Moody’s.

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Where are the Papers?

Posted: 19 Aug 2011 09:59 AM PDT

From Paul Mason on the current scurry to come up with ideas … or something:

So why is the thinking beginning to change?

One of the most brilliant observations in Alistair Cookes memoir Six Men concerns the difference he observed in Edward VIIIs mien, with and without access to intelligence briefing.

Cooke wrote:”Daily possession of the papers is, in fact, the main and most deceptive perquisite of high office”. Cooke A, Six Men, 1977Without them, Edward would fume as they hustled him onto a plane at the outbreak of war: “We know damn all about what is happening.”

That is the situation for most of us today. I interpret the sudden flurry of blue skies thinking as a sign that those who do get “daily possession of the papers” are bracing themselves for more trouble in the autumn – banking trouble, real-economy downturn trouble and political protest trouble.

via BBC News – What to do if the double dip is real?.