Born into a Big 5 investment banking family, I quit organized financial racketeering to go straight. MacDougal Irving is my Blogger Protection Identity, and I am a retired Certified Public Accountant and, like all of us, a badly misinformed investor. These are my observations on capital market cons as they were explained to me across the dinner table as a kid.
Prize
........... Recipient of the 2010 MacDougal Irving Prize for Truth in Market Manipulation ...........
April 19, 2011
Outlook Revision
Even though Standard & Poor’s got around to mentioning it, we need to emphasize that the National Debt remains a problem of cataclysmic proportions. The time-honored Wall Street adage of buying the rumor, selling the news, and totally ignoring any fool thing some dumb a$$ rating agency comes out with is not applicable on this one as S&P is uncharacteristically somewhere near the ball park at a time when a game is actually being played over here.