Michael Alix has been named a senior vice president in the Bank Supervision Group of the Federal Reserve Bank of New York... Most recently, Mr. Alix worked for the Bear Stearns Companies, Inc., where he served as chief risk officer from 2006-2008 and global head of credit risk management from 1996-2006...
I mean, really?!?!?! I don't even know what to say, other than, THIS is why you shouldn't trust the Fed to get us out of the mess we're in... Hopefully, this hiring announcement will appear on Failblog.
Then, I saw this:
At a time when many investors are hoping for a bottom in this year's plummeting stock markets, Direxion Funds says it's ready to come out with eight new leveraged and inverse exchange-traded funds. But these ETFs won't just offer a bit more juice. They're set to become the first to offer three-times the leveraging power of their underlying benchmarks.
300% leveraged ETF's?!?!?!? Really?!?!? This is what we need to restore order and responsibility to our markets in the wake of an ORGY of leverage?!?! MORE leverage?
Anyway... I'm hearing Dean/Flair absolutely KILLED it in Troy, New York:
-KD
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