Communicating with animal spirits for @FTAlphaville. Also cats. Doubling as an 'Oh No' tweetbot for an undetermined amount of time. alex.scaggs@ft.com

I, for one, welcome our new AI-regulator overlords

ftalphaville.ft.com — Most people aren't terribly excited about teaching computers how to do their jobs, but multi-million-dollar settlements after regulatory investigations seem like a pretty good motivator. IBM announced today that it's buying Promontory Financial, a consultancy that came to represent some of the problems raised by the revolving door between regulators and Wall Street banks (it was founded by Eugene Ludwig, comptroller of the currency for the Clinton Administration).

Racing to the bottom in boats, clouds and ZEDEs

ftalphaville.ft.com — E-commerce often gets billed as the great equaliser of trade. The argument is that it allows small businesses to reach buyers who'd otherwise be accessible only to multinational corporations, which can afford the necessary lobbyists and project managers who work on boring but important things like logistics.

“How do I become a whistleblower[?]”

ftalphaville.ft.com — Anyone who hasn't read the Securities and Exchange Commission's complaint against Leon Cooperman and his hedge funds should do so ASAP, because it is a heckuva story. Here's a quick summary of the allegations, which Cooperman and his funds categorically deny:

What happens when floating-rate coupons sink below zero?

ftalphaville.ft.com — The short answer: Both bondholders and issuers could be in an awkward spot. Many corporate bonds have "floors" in place, which means their coupon payments can't go below zero. But in a recent note, S&P Global Market Intelligence calls attention to a host of floating-rate securities that don't have coupon floors.

Banks should hire McKinsey, says McKinsey

ftalphaville.ft.com — McKinsey & Co. has published a tome on the Death of Banks. Well, they don't actually say the end is nigh, but they do think the ranks of global mega-banks will shrink by at least half by the time the dust has settled:

In defence of hedge-fund data mining

ftalphaville.ft.com — People tend to get worked up about the idea of Wall Street mining the trails of data we all leave on the internet for investment ideas. The first and most obvious reason is that privacy issues are always contentious.

Former Bank of Japan board member urges lower inflation targets

The Fed’s slow march into collateral intermediation

ftalphaville.ft.com — The Fed sure seems to be getting comfortable with the idea of acting as a centralised counterparty for collateral transactions. It's unclear whether the market's quite as enamored with the idea.

Art and devolution

ftalphaville.ft.com — The following piece is a review of a new Off-Broadway adaptation of The Iron Heel, a book by Jack London. This review is also itself an adaptation of Leon Trotsky's 1937 review of the The Iron Heel. Do follow along with the Trotsy original -- and excuse the excessive adverbs, for which Trotsky had an unfortunate weakness.

A Failure To Communicate | RealClearMarkets

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Sep 29, 2016

RT @dsquareddigest: Dillettantes are talking Lehman Sept 08 Professionals are talking Unicredit Jan 2012 But the connoisseurs are talking UBS 2009

Sep 29, 2016

@kadhimshubber 1st-yr bank analysts sleeping at their desks : hackers not showering amazing we're all just realizing this now

Sep 29, 2016

@kadhimshubber and if it is then DB was always a "digital factory" I think?? (cc @Foudroyant)

Sep 29, 2016

.@kadhimshubber so is a digital factory like a sweatshop for nerds or

Sep 29, 2016

yes! ever since that $14b number got leaked I've been like 🤔 🤔 🤔  https://twitter.com/carney/status/781541831578378244 

Sep 29, 2016

@byKateSmith hmm well they carry it at my local cafe in Brooklyn - and Poland Springs is good! (Pret's cucumber seltzer is 👍🏼 too)

Sep 29, 2016

@TheStalwart a superior brand of flavored seltzer! Started w it around the time LaCroix got popular, now find LaCroix undrinkable.


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