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	<title>Rebel Yid - Ideas beyond the left/right, red/blue, and liberal/conservative thinking &#187; Financial</title>
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	<description>Beyond left and right.</description>
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		<title>Leveraging Ignorance</title>
		<link>http://www.rebelyid.com/2012/01/leveraging-ignorance/</link>
		<comments>http://www.rebelyid.com/2012/01/leveraging-ignorance/#comments</comments>
		<pubDate>Mon, 02 Jan 2012 13:00:46 +0000</pubDate>
		<dc:creator>Henry Oliner</dc:creator>
				<category><![CDATA[Financial]]></category>
		<category><![CDATA[CDO]]></category>
		<category><![CDATA[credit default swaps]]></category>
		<category><![CDATA[Greg Lippman]]></category>
		<category><![CDATA[Hank Paulson]]></category>
		<category><![CDATA[John Paulson]]></category>

		<guid isPermaLink="false">http://www.rebelyid.com/?p=8090</guid>
		<description><![CDATA[The Greatest Trade Ever by Gregory Zuckerman is the story of John Paulson and a handful of other traders who took positions against the mortgage market and made fortunes in a very short period of time.  Their primary method was to buy credit default swaps.  These swaps acted as insurance against the default of mortgage [...]]]></description>
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		<slash:comments>0</slash:comments>
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		<item>
		<title>And Now for the Rest of the Story&#8230;</title>
		<link>http://www.rebelyid.com/2011/12/and-now-for-the-rest-of-the-story/</link>
		<comments>http://www.rebelyid.com/2011/12/and-now-for-the-rest-of-the-story/#comments</comments>
		<pubDate>Sat, 31 Dec 2011 12:43:12 +0000</pubDate>
		<dc:creator>Henry Oliner</dc:creator>
				<category><![CDATA[Financial]]></category>
		<category><![CDATA[Politics]]></category>
		<category><![CDATA[Edward Pinto]]></category>
		<category><![CDATA[Fannie Mae]]></category>
		<category><![CDATA[Peter Wallison]]></category>
		<category><![CDATA[The American]]></category>

		<guid isPermaLink="false">http://www.rebelyid.com/?p=8082</guid>
		<description><![CDATA[
The outcome of the 2008 election centered around the financial collapse that hit just months before the vote.  Even the most committed capitalists were taken by surprise at what seemed like a significant failure of capitalism.  Outrage was magnified as taxpayer dollars were used to bail out Wall Street millionaires.  In the months before the [...]]]></description>
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		<slash:comments>0</slash:comments>
		</item>
		<item>
		<title>This is Rich</title>
		<link>http://www.rebelyid.com/2011/07/this-is-rich/</link>
		<comments>http://www.rebelyid.com/2011/07/this-is-rich/#comments</comments>
		<pubDate>Wed, 27 Jul 2011 12:28:48 +0000</pubDate>
		<dc:creator>Henry Oliner</dc:creator>
				<category><![CDATA[Financial]]></category>
		<category><![CDATA[George Soros]]></category>
		<category><![CDATA[Quantum Fund]]></category>

		<guid isPermaLink="false">http://www.rebelyid.com/?p=6865</guid>
		<description><![CDATA[
George Soros is closing his hedge fund to outside investors because of the new financial regulations.  He will be returning investor&#8217;s money.
Excerpt from Soros to close Quantum fund to outsiders by  Dan McCrum:

Quantum, which will continue to manage about $24.5bn of Soros family money, blamed the decision on new financial regulations requiring hedge funds [...]]]></description>
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		<slash:comments>0</slash:comments>
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		<title>Deregulating Glass-Steagall</title>
		<link>http://www.rebelyid.com/2011/05/deregulating-glass-steagall/</link>
		<comments>http://www.rebelyid.com/2011/05/deregulating-glass-steagall/#comments</comments>
		<pubDate>Tue, 17 May 2011 01:47:28 +0000</pubDate>
		<dc:creator>Henry Oliner</dc:creator>
				<category><![CDATA[Business]]></category>
		<category><![CDATA[Financial]]></category>
		<category><![CDATA[Bill Clinton]]></category>
		<category><![CDATA[Glass Steagal Act]]></category>
		<category><![CDATA[Gramm-Leach-Bliley]]></category>

		<guid isPermaLink="false">http://www.rebelyid.com/?p=6034</guid>
		<description><![CDATA[The Glass-Steagall Act was passed in 1933 in response the Crash of 1929.  It built a wall of separation between investment banking and commercial banking. It sought to isolate the purpose of providing loans for mortgages and small businesses from the far more speculative and leveraged investments of investment banking.  The intent was to isolate [...]]]></description>
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		<slash:comments>1</slash:comments>
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		<title>Do Regulations Increase the Risk of Catastrophic Failure?</title>
		<link>http://www.rebelyid.com/2011/05/do-regulations-increase-the-risk-of-catastrophic-failure/</link>
		<comments>http://www.rebelyid.com/2011/05/do-regulations-increase-the-risk-of-catastrophic-failure/#comments</comments>
		<pubDate>Fri, 13 May 2011 09:00:03 +0000</pubDate>
		<dc:creator>Henry Oliner</dc:creator>
				<category><![CDATA[Financial]]></category>
		<category><![CDATA[A Demon of Our Own Design]]></category>
		<category><![CDATA[regulation]]></category>
		<category><![CDATA[Richard BookStaber]]></category>

		<guid isPermaLink="false">http://www.rebelyid.com/?p=5760</guid>
		<description><![CDATA[
The implications of complexity in financial markets are more pointed than for most other industries: In the financial markets, some participants have a self- interest in gaming the system.  Traders do not act as uninvolved parties.  They are ready to take advantage of increased complexity in the products and organizations to serve their own bottom [...]]]></description>
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		<slash:comments>0</slash:comments>
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		<item>
		<title>The Regulation Trap</title>
		<link>http://www.rebelyid.com/2011/04/the-regulation-tra/</link>
		<comments>http://www.rebelyid.com/2011/04/the-regulation-tra/#comments</comments>
		<pubDate>Fri, 08 Apr 2011 13:33:39 +0000</pubDate>
		<dc:creator>Henry Oliner</dc:creator>
				<category><![CDATA[Economics]]></category>
		<category><![CDATA[Financial]]></category>
		<category><![CDATA[A Demon of Our Own Design]]></category>
		<category><![CDATA[regulations]]></category>
		<category><![CDATA[Richard BookStaber]]></category>

		<guid isPermaLink="false">http://www.rebelyid.com/?p=5736</guid>
		<description><![CDATA[
The natural reaction to market breakdown is to add layers of protection and regulation.  But trying to regulate a market entangled by complexity can lead to unintended consequences, compounding crisis rather than extinguishing them because the safeguards add even more complexity which in turn feed more failure.  Trying harder means sinking deeper into quicksand.   Yet [...]]]></description>
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		<slash:comments>0</slash:comments>
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		<item>
		<title>Liquidity and Solvency</title>
		<link>http://www.rebelyid.com/2010/11/liquidity-and-solvency/</link>
		<comments>http://www.rebelyid.com/2010/11/liquidity-and-solvency/#comments</comments>
		<pubDate>Fri, 19 Nov 2010 20:25:47 +0000</pubDate>
		<dc:creator>Henry Oliner</dc:creator>
				<category><![CDATA[Financial]]></category>
		<category><![CDATA[QE2]]></category>

		<guid isPermaLink="false">http://www.rebelyid.com/?p=4842</guid>
		<description><![CDATA[
There are many small business people who contend that they cannot get a loan. The press reports that banks are sitting on their money and not loaning any. They are just making a safe spread between very low bank rates and Treasury bonds.  By driving interests rates down even further this spread decreases and thus [...]]]></description>
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		<slash:comments>0</slash:comments>
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		<item>
		<title>Replace bailouts with “bail ins”</title>
		<link>http://www.rebelyid.com/2010/09/replace-bailouts-with-%e2%80%9cbail-ins%e2%80%9d/</link>
		<comments>http://www.rebelyid.com/2010/09/replace-bailouts-with-%e2%80%9cbail-ins%e2%80%9d/#comments</comments>
		<pubDate>Tue, 14 Sep 2010 09:00:44 +0000</pubDate>
		<dc:creator>Henry Oliner</dc:creator>
				<category><![CDATA[Business]]></category>
		<category><![CDATA[Financial]]></category>
		<category><![CDATA[bailouts]]></category>
		<category><![CDATA[Basel]]></category>
		<category><![CDATA[Wall Street Journal]]></category>

		<guid isPermaLink="false">http://www.rebelyid.com/?p=4373</guid>
		<description><![CDATA[
In We’ll Always have Basel The Wall Street Journal reports on the work to raise capital standards to avert future bank meltdowns.  One of the more interesting concepts is a “bail in”:
The idea is to set very high capital standards but allow banks to count as capital certain debt financing that automatically converts to equity [...]]]></description>
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		<slash:comments>0</slash:comments>
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		<item>
		<title>Why the drop in home sales is a good thing.</title>
		<link>http://www.rebelyid.com/2010/08/why-the-drop-in-home-sales-is-a-good-thing/</link>
		<comments>http://www.rebelyid.com/2010/08/why-the-drop-in-home-sales-is-a-good-thing/#comments</comments>
		<pubDate>Sun, 29 Aug 2010 09:00:37 +0000</pubDate>
		<dc:creator>Henry Oliner</dc:creator>
				<category><![CDATA[Economy]]></category>
		<category><![CDATA[Financial]]></category>
		<category><![CDATA[housing]]></category>

		<guid isPermaLink="false">http://www.rebelyid.com/?p=4298</guid>
		<description><![CDATA[
It is not Obama’s fault that home sales are dropping, though it is his fault that they did not drop sooner.  Why is it bad that the sales of home and home prices are dropping?
Yes, it eats up bank collateral and destroys individual’s home equity values.  But that is exactly what happens when a bubble [...]]]></description>
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		<slash:comments>0</slash:comments>
		</item>
		<item>
		<title>How to Turn Crisis Into Catastrophe</title>
		<link>http://www.rebelyid.com/2010/06/how-to-turn-crisis-into-catastrophe/</link>
		<comments>http://www.rebelyid.com/2010/06/how-to-turn-crisis-into-catastrophe/#comments</comments>
		<pubDate>Sat, 19 Jun 2010 09:00:54 +0000</pubDate>
		<dc:creator>Henry Oliner</dc:creator>
				<category><![CDATA[Economics]]></category>
		<category><![CDATA[Financial]]></category>
		<category><![CDATA[Andrew Redleaf]]></category>
		<category><![CDATA[Panic]]></category>
		<category><![CDATA[Richard Vigilante]]></category>
		<category><![CDATA[short sellers]]></category>

		<guid isPermaLink="false">http://www.rebelyid.com/?p=3682</guid>
		<description><![CDATA[
“The bankers fervently believed their new structures and systems would better ensure the soundness of their loans than old- fashioned credit analysis and human judgment, fraught as ever with human error.  Having crafted a system that seemed to relieve them of responsibility for making good judgments, they naturally  proceeded to make an enormous amount of [...]]]></description>
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