Jim Grant on Safe-Haven Bubbles and a Bull Market in Black Walnut Trees!

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Welcome to a very special episode of Capital Account, live from New York. In 2008, a Barclays employee told the NY Federal Reserve that the bank, as well as other firms, were underreporting LIBOR. Timothy Geithner, the 2008 head of the NY Fed, is now under scrutiny and lawmakers are urging a probe of LIBOR regulators. But why is there so much outrage over LIBOR manipulation when central banks manipulate interest rates every day? We will hear from Jim Grant, editor and founder of Grant's Interest Rate Observer, in our sit-down interview.




Also, JP Morgan's London Whale trading loss reached $5.8 billion, and in a conference call JP Morgan said they will clawback two years of compensation. This clawback includes millions of dollars in bonuses for CIO traders and their former boss Ina Drew. Do these clawbacks reinstate accountability at too big to fail banks? We will hear about Jim Grant's clawback plan.




Peregrine Financial's CEO was arrested today. In the note he left before attempting suicide he said his forgeries of bank statements, which allowed him to steal millions from customers, went undetected for 20 years. Is fear of money being stolen by a PFG or MFG contributing to what Jim Grant calls the "bubble in perceived safe havens?"




In a special Friday the 13th Loose Change, Demetri Kofinas and Lauren go to a church and graveyard near Wall Street to talk atonement and invoke the "spirit of the law" when it comes to financial crimes.

• Category

  News & Politics

[managarm1349]

yo dimitri, church and morality are two diametrically opposed words

[CapitalAccount]

haha I think you are onto something there ;)

Demetri

[Ida Pagnottella]

i love Lauren but maybe she distracted him with that neckline

[Christian Kruse]

Lauren, you're really building a great resume with all the interviews with the brightest minds today. I wish it was a financial news network and not just a 1/2 hour show. Great job!

[angelmtza]

Never thought about it that way. On a second thought if I had to do his job probably I would end in a mental facility by the end of the year.

[angelmtza]

This gentleman has wisdom which is something you hardly find in the world of finance these days, I would hear him even if he spelled 3 words per minute, that is how good and accurate he is. No offense lad, but if you are not willing to listen to him probably your brain stammers more than porky pig. Sit, be humble, be patient and learn from him, stop watching the bird's cleavage BTW.

[pretorious700]

too bad she's clueless

[rconley1]

What you call "stammering" is just careful, precise, deliberate diction. It's ironic that you don't recognize that, because the way he speaks (and writes) is how I know he's one of the smartest guys around, and how I know I should listen to him.

[AliceInWonderlandSyn]

That's just Jim... If you spent your life digging through the Fed's minutes, you'd probably stammer a bit too!

[AliceInWonderlandSyn]

I was thinking the same thing! LOL Love these two :)

[sazajac77z]

Wow. Lauren sure seems gushy. I think she has it for Jimmy boy.

[James Workman]

I hate this Twit.. but Jim Grant is the MAN!

[DavidAKZ]

she could be mildly autistic = asbergers

[DavidAKZ]

+1