Thursday, April 14, 2016

The IMF Fears A "Pernicious Feedback Loop"
"Rising risk premiums may tighten financial conditions further, creating a pernicious feedback loop of fragile confidence, weaker growth, lower inflation, and rising debt burdens."
LINK HERE to the article

1 comment:

Anonymous said...

Crime pays in spades.............

Steve Cohen Has a New Firm That's Allowed to Take Outside Money

‘Engineered With Precision’

An accord with the SEC bars Cohen from handling outside money until Jan. 1, 2018, a restriction far less onerous than the lifetime ban the agency originally planned to seek when it alleged in July 2013 that the billionaire failed to supervise two senior employees charged with insider trading. Setting up a new firm under the control of his lieutenants could generate additional revenue for the family office, help attract and retain top traders and give Cohen a head start when the management embargo expires in 2018.

Stephen Crimmins, a former SEC enforcement attorney who is now a partner at the law firm Murphy & McGonigle, said as long as Cohen stays within the limits set out in his agreement, the hedge fund manager won’t run afoul of the agency. In negotiating the settlement, Cohen’s lawyers were able to include a provision that specifically allows the billionaire to set up a money management firm like Stamford Harbor.

Cohen’s settlement “was engineered with precision -- everything was carefully thought through,” said Crimmins, who was not involved in Cohen’s settlement. “To see him getting active again, that is what the deal was” with the agency.

Florence Harmon, an SEC spokeswoman, declined to comment on the startup.
Five Weeks

Point72 can only manage Cohen’s personal fortune, estimated at $11.2 billion by the Bloomberg Billionaires Index, along with money belonging to his relatives and the firm’s employees.

another work around the laws that apply to the rest of us.