‘On Sunday a former Senior Deutsche Bank manager, William Broeksmit, was found hanged at his house. He was the retired Head of Risk Optimization for the bank and a close personal friend of Deutsche’s Co-Chief Executive, Anshu Jain. Mr Broeksmit became head of Risk Optimization in 2008. He retired in February 2013.
Early this morning, Gabriel Magee, a Vice President of CIB (Corporate and Investment Banking) Technology at JP Morgan jumped to his death from the top of the bank’s 33 story European Headquarters in Canary Wharf. As a VP of CIB Technology Mr Magee’s job would have been to work closely with the Bank’s senior Risk Managers providing the technology which monitored every aspect of the bank’s exposure to financial risk.’
This is a fascinating piece of the Smoke Signals variety.
‘News of the agreement also prompted opposition politicians to raise concerns about the “creeping privatisation” of the police and the idea that wealthy companies and individuals might be able to “buy more justice than if you are poor”‘.
Brilliant journalism harking back to the Slog’s contention that the State is being privatised for the few. (Never did trust Branson as far as I could prod the bugger)
‘The QE bubble has kept the bull market rolling longer than it was supposed to. This is similar to the Internet bubble top for the stock market in 2000, and the real estate bubble top for stocks in 2007, both of which arrived later than they were supposed to.
The chart this week updates one I showed back in December 2012, exploring how the spread between the 10-year and 1-year Treasury yields can provide a leading indication for where stock prices are going to go approximately 22 months later. It is not a perfect leading indication (I’m still looking for THAT), mostly because in a bubble the stock market can continue higher even after this messenger says it is supposed to turn down.’
Very good chart plotting the lunacy of believing in stimulation as a cure for, um, anything.
‘Asahi Shimbun has a piece on Shin Dong-hyuk, a North Korean defector who was born in Camp 14, a political prison in Kaechon, 80 kilometers north of Pyongyang.
He said the camp was like a town. It had a population of several tens of thousands of prisoners who worked on a farm, a coal mine, a cement factory, a sewing factory and other facilities there. Camp 14 is also a “total control zone” prison, the harshest category for such facilities in North Korea. Inmates of these prisons are not allowed out of the camp for their entire lives.
His story is horrendous and quite impossible for most of us living our comfortable lives to imagine. In particular, indoctrination can do the vilest things to people.’
I don’t know how Rolf Norfolk keeps coming up with this stuff, but it is solidly researched and startling in its content.
I’d like to turn this into a regular feature. If you see some well-researched and insightful thoughts, do get in touch – email@example.com