“‘Goldman Sachs would love to represent you. If you guys are going to be sold, weâ€™d love to make one hundred million dollars doing that. Donâ€™t forget your buddies at Goldman Sachs!'”
“Complacency has moral hazard inscribed into it. It encourages bad behavior and penalizing dissent â€“ there is a negative carry for not joining the crowd, which further reinforces bad behavior.”
And so, with Rod Rosenstein having allegedly told the DoJ’s No. 3 that he may need to follow in Jeff Sessions’ footsteps by recusing himself from the Trump-Russia probe, the question is this: “justÂ who is the DoJ’s No. 3”?
“Rosenstein, who authored an extensive and publicly-released memorandum recommending Comey’s firing, raised the possibility of his recusal during a recent meeting with Associate Attorney General Rachel Brand, the Justice Department’s new third-in-command, according to sources.”
“While the collapse of the VIX to multi-decade lows has garnered headlines recently, implied volatilities on US and European credit indices have quietly reached new lows as well. The one-month at-the-money implied volatilities on US and European credit indices have all collapsed to their tightest levels since 2008.”
“Americans should exercise caution before accepting as true any stories attributed to anonymous ‘officials,’ particularly when they do not identify the country — let alone the branch or agency of government — with which the alleged sources supposedly are affiliated.”
“With many risky assets close to the ding-dong highs and central bankers becoming less supportive, itâ€™s hard to argue that conditions are as favorable as they were a few months ago.”