From a great NYT article: "“Investors said, ‘I don’t want to be in equities anymore and I’m not getting any return in my bond positions,’ ” said William T. Winters, co-chief executive of JPMorgan’s investment bank and a colleague of Ms. Masters on the team that invented the first synthetic. “Two things happened. They took more and more leverage, and they reached for riskier asset classes. Give me yield, give me leverage, give me return."
Why are we bailing these guys out again?
Analyst Uncertainty as a Super-anomaly [PREMIUM]
21 hours ago