Theater Of The Absurd: Greenspan Writes Book On Economic Forecasting
Given his track record, Alan Greenspan's publication of a guide to economic forecasting will likely prove as successful as Lance Armstrong's guide to drug-free cycling. As Bloomberg reports, Greenspan's new book "The Map and the Territory" is about as credible as art history by Mr. Magoo; as it pretends to tackle the subject of forecasting while saying next to nothing about the author’s historic failure to reduce the risks leading to the crisis, which he calls "almost universally unanticipated." Bloomberg's Daniel Akst sums it up best with his concluding sentence: "'The Map and the Territory' is an infuriating book, one that will leave readers wondering how its author could have come all this way and yet remain so hopelessly lost." Indeed...
JPMorgan Chase & Co. (JPM) has agreed to sell 1 Chase Manhattan Plaza, the tower built by David Rockefeller, to Fosun International Ltd., the investment arm of China’s biggest closely held industrial group, for $725 million.
Fosun, which invests in properties, pharmaceuticals and steel, is buying the 60-story, 2.2 million square-foot, lower Manhattan tower, according to a statement it filed to Hong Kong’s stock exchange.
The Italian daily cited sources with direct knowledge of the letter sent by ECB President Draghi.
The ECB and the Commission were not immediately available to comment.
"The ECB president is not against imposing losses on bank creditors once the European banking union operates at full speed. Draghi, however, fears that imposing losses on bondholders now, potentially for dozens of European lenders at once, can destabilise markets," the paper said.
Twitter maakt zich op voor een beurgsgang, die mogelijk halverwege november plaats zal vinden. Als het eenmaal zo ver is, gaat Twitter mogelijk gebruik maken van de 'Double Irish' en de 'Dutch Sandwich'. Alle voorbereidingen om te voldoen aan de voorwaarden, zouden al getroffen zijn volgens de documenten.