Wall Street Folly

It's Official: We've moved! Our new home is www.wallstreetfolly.com

Please join us over at our new Wall Street Folly site.  We're still working out some kinks, but it's up and running! (Note, if for some reason you're not directed to that site, keep trying.  It gonna take a bit for the redirection of our wallstreetfolly.com url to be propogated through the system.)

Don't let the door hit you on the way out: Chris Cox resigns from the SEC

It's about dang time:  The Chris Cox era at the SEC is over; he's resigned.  

Probing themselves in the Madoff mess: This release only reaffirms our belief that the SEC continues to have its head up its butt

This is yet another embarrassment for the SEC and Chris Cox.  Way too little,  way too late.  Again.

Another one bites the dust: David Rocker founded Hedge fund Copper River is liquidating

Copper River Management, the fund founded by legendary short seller David Rocker and which is currently run by his former Rocker Partners co-manager Marc Cohodes, is liquidating with remaining funds being returned to investors.  The fund was said to have been down over 50% In the market turmoil over the past couple of months with results exacerbated by the SEC imposed short selling restrictions as well as its inability to unwind derivatives where Lehman was the counterparty....

Chris Cox smack down at Senate Banking Committee hearing

Like many others, we're sitting here listening to the Senate Banking Committee hearings.  We have to admit, hearing Chris Cox admonished for not submitting the transcript of his remarks to the committee members the night before the hearing -- as did Ben Bernanke and Hank Paulson -- was hilarious.   Cox's transcript was apparently missing in action until 20 minutes before the hearing began.  That's an apt metaphor for Cox's missing-in-action behavior through out much of the credit crunch.  He seems to always turn up late.

Memo to whoever is elected on Nov 4.  This guy needs to be pressured to go.