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This “L” Train Doesn’t Go To Brooklyn

Why, oh why, did John Paulson sit down for an interview with Businessweek magazine? Here’s a guy who became a financial legend by betting against subprime mortgages before the market collapsed in 2007, netting his investors $15 billion while putting almost $4 billion in his own pocket. And historically he’s kept a very low profile. “I … Continue reading

Some Things Work Out For Some People

August in the Sacramento area is hot; and I don’t mean in a cultural sense. So Leslie and I tend to get in the car and spend some time on the California Coast where it’s cooler; not necessarily in a cultural sense. Last week we found ourselves in Santa Barbara, part-time home for Oprah and other … Continue reading

California Rocking Out, Once Again

It’s not a secret that California is fiscally challenged, with the legislature locked in partisan battles and unable to compromise on a budget. California [began] a new budget year … without a spending plan in place and with no agreement imminent between state legislators and Gov. Arnold Schwarzenegger on how to close a $19.1-billion deficit. … Continue reading

Genetically-Modified Collateralized Debt Obligations Will Be Next

When you are Goldman Sachs ordinary words take on extraordinary meanings: Lemonade: A structured-financial deal Goldman mixed up to make bad loans go down easy on investors. Used in a sentence, from a Goldman email: “They structured like mad and travelled the world, and worked their tails off to make some lemonade from some big old lemons.” … Continue reading

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