"...many deaths, many jobs lost, a lot of trauma and massive economic dislocation...the stock market believes that none of that matters"
A gut-check on values with Chris Cuomo.
Chris Cuomo: “I’m basically being perceived as successful in a system that I don’t value”
When even your hedge fund peers think you’re “morally corrupt”
"...poor moral judgment..." and "...a complete abomination..."
Emptiness into Fullness – a timely Easter metaphor?
Speaking to a (literally) empty congregation at St. Patrick’s Cathedral in New York City (but virtually streamed), Cardinal Timothy Dolan earlier today
Banking on bad times? (or what happens when you know you’ll be made immune from a downturn)
"...when politically-powerful zombie firms (with far too much debt) successfully lobby for handouts when times get tough."
Bailing out summer in the Hamptons?
"On Main Street...people are getting wiped out..." but "...a bunch of billionaire family offices...they don’t get the summer in the Hamptons?”
Prudent and responsible investing? No longer tolerated.
"The Fed has made it clear that it will not tolerate prudent and responsible investing."
If Wall Street is happy, does it matter if anyone else is?
"happy days are here again Wall Street impression versus...people saying,‘Can I get a mask? How do I get a mask?"
Fiscal irresponsibility: If no one notices the problem, is it really a problem?
"...a collective yawn in response to discussion of fiscal responsibility."
Another case of privatized gains, socialized losses?
"...the theory that they can borrow money from their larger and deep-pocketed private-equity backers, rather than taxpayers."
Maybe those old savers were on to something?
"You compare it to the older generations — they worked up and saved money,”
Bad Behavior = Benefits & Bailouts?
"...fact that a substantial part of their current financial problem is of their own making."
Tough decisions today. Who will value the future returns?
"Failing to take dramatic action now...would be a wildly imprudent thing"
When bailouts go bait-and-switch. Already.
It’s perhaps a minor example in the grand scheme of things, and especially given what’s likely to come, but the early signs
Faith in the powerful? Whose power?
"Coronavirus stimulus will make Mnuchin 'one of the most powerful Cabinet members in modern history'"
Have we all become “sloths” to our system?
"inability to make a decision about one's own life, but OK with looking at other people's lives in order to complain"