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ECONOMICS – FINANCE – WORLD NEWS – GREEK DEBT

Harry Potter was a trader too

So, we all remember the ‘great vampire squid wrapped around the face of humanity‘, right? Not only was it hilarious, it also came in handy at a time when society needed to pin a face, or a firm, to the root of all evil. But really, that’s very 2010. There’s a new villan in town, London-town that is: Voldemort, formally known as the White Whale. JP Morgan trader Bruno Iskil (seriously, his name is Bruno, how did we have to go all the way to Harry Potter jokes?) earned his nickname by throwing the ridiculous amount of $100bn around and is the new center of attention. That is mostly Paul Volcker’s attention, because distorting the market like that might be illegal and a handful of hedge funds had complained. Clearly, JP Morgan disagrees.

Bloomberg put the story out there; here is Alphaville’s bashing of the coverage thus far.

Otherwise, there is a G8 meeting concerning, among other things, Syria and nuclear energy in Washington today. The two people who seem to have the biggest stake in the outcome of the summit: Bono and Bob Geldorf. Who else… read article

That leaves room for the rest of the world to worry about Spain.

WSJ:

If Spain and Italy spiral out of control, Greece will be to Spain and Italy, what Bear Stearns was to Lehman.

Who are we kidding, there’s a shit-storm ahead.

The Economist has done a profile of Mariano Rajoy after 100 days in office, including the deepest budget cuts since Franco and losing the upper hand in Spain’s largest electorate Andalusia. read article

The weird recession-car-purchase behavior continues, and while countries are tumbling, BMW logged the highest monthly sales ever in March, selling 185,728 cars. read article

Also, goodbye, Rick Santorum. It was fun while it lasted – for us – though this might not have been the last we hear from him… read article

So long.

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