Comments on: The Finance Press Becomes Ever More Willfully Obscure, Clubby And Unhelpful

By: NinetyNine

NinetyNine — Thu, 02 Jul 2009 02:36:25 +0000

In case anyone was wondering if Choire has ever seen a Tumblr, this comment here serves as a resounding no. Also! Not enough appreciation for the beejer/yield curve joke (or is that a post too?).

By: BoHan

BoHan — Wed, 01 Jul 2009 23:37:51 +0000

Oh gosh, read Scott Burns. He's syndicated and independent now, but he started out with a Sunday column in the Dallas Morning News. Nowadays he focuses principally on retirement issues, because duh, who still reads print, but the Dude has a degree from M.I.T. yet is incredibly and simply delightful and plain-spoken and unbiased. He just makes you feel smart about this shit and isn't all indignant and snotty like your Paul Krugmans of the world. On the other hand, he'll make you feel really horrible about your spending habits, but evs. He's a treasure.

http://www.dallasnews.com/sharedcontent/dws/bus/columnists/sburns/stories/DN-burns_28bus.ART.State.Edition1.3cf1fdf.html

By: brianvan

brianvan — Wed, 01 Jul 2009 17:30:27 +0000

My take on Taibbi's piece is that it documents how Goldman engages in bubble economics for profit. It's overburdened with condemnation, as we've all agreed need to be in the soup for an RS piece. None of the charges are false or illegal. There's even a little double-jeopardy in there, because one of those "bubbles" is part of another.

However, the information presented is pretty condemning in terms of judging Goldman's will to be a good citizen.

As you know by now, corporations are unique legal entities set up in such a way that they are each like individual sociopaths, the most irresponsible and unreliable citizens that can exist in a society. So really, how Goldman got there legally and with the help of many (and the resistance of few) is maybe beside the point.

And maybe corporations acting like irresponsible and unreliable citizens is also beside the point. Because the rest of us have been well trained to not give a fuck!

By: sigerson

sigerson — Wed, 01 Jul 2009 16:57:39 +0000

Choire — what I love about this post is that you've crafted an irresistible linkbait post for all these finance blogs. Coming off the Silicon Valley Insider post suggesting that AOL buy The Awl, this seems likely to raise your blog's profile in that entire sector. Nice!

By: Kataphraktos

Kataphraktos — Wed, 01 Jul 2009 16:24:25 +0000

Choire, try Michael Shedlock's blog, it is very good, and thoroughly comprehensible.

That said, I am not ashamed to admit I can understand that formula, which is probably why I can't get a date in this cache-less Wall Street world.

By: KarenUhOh

KarenUhOh — Wed, 01 Jul 2009 15:51:40 +0000

It's "Binghamton," you Poli Sci moran.

By: KarenUhOh

KarenUhOh — Wed, 01 Jul 2009 15:50:53 +0000

Actually, Barry Ritholtz was optioned to Binghampton after his OBSP dropped to .363.

By: Tuna Surprise

Tuna Surprise — Wed, 01 Jul 2009 15:37:32 +0000

My 81(!) year old aunt had tabbed the last R.S. article on the financial crisis "villians" and made me sit down in her living room while she wagged her finger at each of them. Then she made me defend my financial compatriots. *Sigh* I wish she'd get her news from USA Today like everyone else.

By: DorothyMantooth

DorothyMantooth — Wed, 01 Jul 2009 15:35:34 +0000

I recall that bit spreading through the intersphere like kudzu for a good long while.

By: TerseNursePornstein

TerseNursePornstein — Wed, 01 Jul 2009 15:23:30 +0000

Psst! If you are looking for the perspective of a finance person who writes sensibly, intelligibly and CLEVERLY, I think I know where we can find one…

By: giovanni

giovanni — Wed, 01 Jul 2009 15:20:57 +0000

I had assumed it was a Turkish name!

By: katiebakes

katiebakes — Wed, 01 Jul 2009 15:08:24 +0000

Good finance writers are like good science writers in that they are able to distill complex mathy/theoretical relationships into clear language without losing the interest of those who are "in the know". Felix Salmon is so unmatchably great at what he does.

By: Choire

Choire — Wed, 01 Jul 2009 15:00:32 +0000

I can't believe you remembered this:

http://gawker.com/5019177/in-which-we-help-jakob-lodwick-understand-china

By: Choire

Choire — Wed, 01 Jul 2009 14:59:35 +0000

Yeah, my jury's a little still out on the Taibbi piece. On the one hand? I thought Goldman's response was laughable, and I do think they are fairly evil. And on the other hand, well they are very good at what they do, largely, with a couple exceptions. And also on some level I am pro-capitalist! So yay for making money!

And like many of us who are loud and mouthy, Taibbi can undermine himself. (Lord knows I do!)

But I have yet to see a good fact-check of Taibbi's piece from the perspective of a finance person, written sensibly. AND INTELLIGIBLY.

By: mathnet

mathnet — Wed, 01 Jul 2009 14:58:21 +0000

People who live in numbers don't know they're not speaking in words.

(And I am not talking about myself. I avoid math at all costs! Mathnet is just something I appreciated as a kid because math teachers suck at teaching.)

By: whowhahuh

whowhahuh — Wed, 01 Jul 2009 14:53:33 +0000

"Although what that also means is that perhaps Taibbi is emphasizing stuff bank-type-people find irrelevant, and omitting things that are relevant to bank-type-people"

That's actually not what he's doing.

1. he is trying too hard to relate to the youngs and hippies (okay I get that it's in RS)
2. he makes poor causal relationships
3. he is often intellectually dishonest either because he doesn't understand and is afraid to sound ignorant or he does and willfully ignores other factors.

The article is just ugh and will will be held up by the type of people who read rolling stone and shaken while yelling "see, see!"

By: katiebakes

katiebakes — Wed, 01 Jul 2009 14:47:11 +0000

I can't decide if this is more like Jakob Lodwik soliciting three sentences about China or Balk asking for someone to use blow jobs as a proxy for describing the yield curve.