walkitout (walkitout) wrote,
walkitout
walkitout

magnetar

Really, right up there with hiring John Galt whatsis to do government contracting. Could Magnetar possibly be up to anything other than no good at all?

http://en.wikipedia.org/wiki/Magnetar

In any event, the hedge fund Magnetar is getting some scrutiny, since Goldman Sachs seems to think it is reasonable to defend its own activities with Abacus by pointing a finger over to the side and said, but they did it too, before us, and lots worse.

Perhaps a reasonable argument.

http://www.propublica.org/feature/all-the-magnetar-trade-how-one-hedge-fund-helped-keep-the-housing-bubble

Some shocking quotes in there: a banker who reviews a deal he did and comments that he deserved to lose his job; Moody's balking at rating the worst of the worst of the Magnetar CDO deals.

I was supremely unhappy with the ProPublica article about Memorial Hospital. Picking on hospital staff in that situation is pointless. The bad decision was to shelter in place. Actually, scratch that. The bad decision was to have any kind of significant hospital facility in that kind of location in the first place. But the Magnetar article is awesome. Forge your way through it; it is one shocking revelation after another.
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