The Speculative Debauch

Recent Posts from The Speculative Debauch


  • We've Moved!

    So today, in celebration of the 80th anniversary of Black Tuesday, the Speculative Debauch is pleased to unveil its official new home at speculativedebauch.com Please adjust your bookmarks and, etc.If you're hep to that internet…

  • Hazards to Navigation

    When I was a reference librarian, I would, pretty regularly, get a request for information about "The Black-Scholes Model" (Black-Scholes). Black-Scholes is a mathematical equation that uses the price of stock (and other known variables)…

  • 80 Years Ago Today

    Was the day before "Black Thursday" the first of the four horsemen of the crash of 1929 (the others being Black Friday, Black Monday, and Black Tuesday - presumably the weekend wasn't a picnic, either).In…

  • LIBOR +3

    I just noticed that I have posted more than three hundred and fifty times on this blog. If posts were basis points, that'd be 3.5% - way better than today's LIBOR of .57%Is it weird…

  • BBA LIBOR on Twitter

    That pretty much says it. Click to follow. Why is this weirder than the SEC or Westlaw taking advantage of what is now called "social media?" The Bank of England and the Federal Reserve do…

  • Windy

    Next week I shall be in Chicago presenting securities research master class part 2 (enforcement). I'm also hoping to throw in a sneak peek at part 3 (asset-backed securities and derivatives). If you're in town,…

  • Sarbanes-Oxley and the Fallacy of Independence

    Yesterday, I spent some time researching the directors of Enron. What I discovered made wonder whether the post-Enron reforms, particularly the Sarbanes-Oxley Act, are capable of doing what they were designed to do. It even…

  • ISDA Documentation Architecture 4: Credit Support

    As I've mentioned in the past, one of the hazards of derivatives transactions not executed through a clearinghouse is that the parties are responsible for policing each others credit. Each party must satisfy itself that…

  • Subtitle C: Improvements to the Regulation of Credit Rating Agencies

    Subtitle C is the weirdest piece of the administration's proposed Investor Protection Act of 2009 because a lot of it is a spanking for the SEC.It has been nearly 5 years since Congress gave the…

  • Subtitle E: Improvements to the Asset-Backed Securitization Process

    Today, I'm going to start looking at a neglected piece of the administration's reform proposal: title IX, the vast Investor Protection Act of 2009. The IPA is a grabbag of regulatory off-cuts ranging from asset-backed…