Tuesday, 14 August 2012

"I started hitching up the thing."

The DoJ however said in a statement 
published late on Thursday
after a careful review of the information 
if you drop a rose in the Hudson

provided in the [Senate] report and more than a 
river at its mysterious mouth up
year of thorough investigation [DoJ officials] have determined that
near Saratoga think of all the places

based on the law and evidence as they exist at this time there is not
it journeys by as it goes out to sea 
a viable basis to bring criminal prosecution with respect to Goldman 
forever… think of that

Sachs or its employees in regard to the allegations set forth in the 
wonderful Hudson valley


Thursday, 2 August 2012

Do numbers come before voices.

One man on the garden wall
the low wall drumming on his I think
tan untruth fawn or fox-red
leather briefcase hard sides.
Due. Floating. Deferred.

I made notes. I told lies. I said.
Hold this in my hand. Two.
Green, apple green or grass or mould.
Black new blue and a grey stain spreading
cracking and scratching scraping.
Dull or not that simple colour of money.

An incoherent beauty die-stamped out.
Is that enough? Imagine counterparties.
Circle around fresh water. Three. I learned to 

count reading the newspaper imitation
characterized the sublime happening again and again separating
them from us. Four. I bought an unusually grey silk necktie 
in the Marais pale stitching outline of petals soft metal
lead to go to the Opéra Bastile. It felt necessary, effective. More
nothing to do with politic or finance colour. 

Friday, 27 July 2012

The New Deal


And despite this compassion or this art
the drawing or the bronze face-first
into the hillside, the animal tame or wild
with his hand out facing the street
and the stopped cars, unshaven the last light
of the year failing his still forest eyes —

Alice you know all this. The new deal.
Driving up the fjord green and blue you might as well
the shards of your voice the scarf
deep marine indigo mauve and red yes
as it tatters lift yourself up and
back into this singing school. You can.
Jack pine. White pine. Birch. Oak. Acorn.
Every investment has risk.


There are men who can see one star break.
Your fog, your river morning record
your footsteps in the hall
hand on the door your voice
counting out or naming subway stops.
Astor Place. JP Morgan Chase & Co. up 2.03 for a gain of 5.964% at the close.
An equally great number toil with little return.

Large, illiquid types of things to manage down.
Not built on models, collateral flow, capital
or correlation now that Europe isn't
and has always been doomed, loud and willing.
Sadly it does all cohere. Profit difficult but possible.
It's hard to recognize from my apartment
but if you pause, poise, you can still. The river.
Plenty is at our doorstep but a generous use of it
languishes in the very sight of the supply.


Is it the materials lift us up, selenium
and brent crude and clouded voices quiet
on the waves? Or glass fibre. The once radical
now tired and terrible, spent prophecy. A pale
horse, champagne, made of coherent splendid illumination
and live breath, racing hearts. A kiss at the door.
No more than that. Beauty. I beg to differ.

The level of scrutiny did not evolve commensurate with increasing complexity.
Alice we can understand every word of that again.
Their efforts have been cast in the path of an outworn tradition
behind and above the remaindered forest
the exquisite stars and the clouds racing past the thinning moon
a red dark anger that would tear it all down.

Friday, 18 May 2012

Abacus speaks

We haven't talked about this — but once 
your good good work is accomplished be television,
noble, move quietly. Face to face.
Your charges grow data darkly slide.
Price transparency is not a systemic risk issue.
Attached to you, deep finally will pinhole, hook, cord, thorn, moon, tide, toy,
synthetic credit portfolio.
Leave the sea behind. Hedge.

Desert coyote hut quilt then.

Bright. Fab. Once. Well 
what if we created a "thing" 
which has no purpose, 
which is absolutely conceptual and highly 
theoretical and which 
and which
which nobody knows how to price?

Like other regrets or shadows, recalled.
His scales are his pride.

So there is a humble noble and ethical reason for
my job. Widows and tigers and other wastes inside addition, iron as straw.
Because correlation modelling is not easy to get right.
US $64031825100 net notional tranched as of the week ending 2012-05-04 though these are massively aggregated figures.

“It could get worse. This could go on for a little bit,” Jaime Dimon said in 2012.

Tuesday, 1 May 2012



If all the information is on the table
a rational actor will behave this way.
Maximize utility.
The Lincoln Town Car will no longer be manufactured after 2011.
There are over 25000 Lincoln Town Cars in New York City. Most of them are black. Some of them are white.
Blackness in and of itself is of no significance.
Neither is whiteness.
Information always eventually becomes evenly distributed.
The laws of gravity can be derived from the distribution of entropy in the universe.

If all the information is on pieces of paper
in briefcases in offices above the floor the first plane struck
and all the paper is burning or blowing in the wind there is
on a clear September day a rational actor
will no longer specialize
are black of itself neither
always entropy --

This was not like that.
After September 11 2001 the Federal Reserve cut short-term interest rates to historically low levels from 6.5% to just 1%.

Is forgetting the same as keeping a secret?

If all the information is distributed paper
falls subject to gravity and the wind
on the table that is not like this snow
on a clear September day 
neither is whiteness utility.

If all the information is in the cloud
on pieces of blowing in the wind
eventually concludes that interest rates 
do not explain historic trends for the country.

Is keeping a secret the same as lying?


It disturbs people to think
that among this falling paper
there are falling men and women.
They fall faster
and time slows as you watch them
near the horizon they never reach
but at a well-defined moment
they burst into flame the temperature of information.

It disturbs people to think
of the choice between fire and falling
until memory becomes a photograph
the colour of information 
and there are no bodies only architecture
only geometry only conformal equivalence
only unstoppable collapse into noise.

No state has more entropy.
How much information fits here?
It's proportional to the surface area
in units of the Planck length.
Imagine a small black hole under the Hudson 
under the towers or offset, in Jersey
where Lehman was.
A place where information drains
from the world.
A place where there are no bodies,
no names, no numbers.
A place after the proof
of the Financial Instability Hypothesis
where there are no memories
no secrets, no lies.


Where form does not differ from emptiness;
where the black and white paper of record
lies open and hiding the fall forgetting
The same is true of feelings
perceptions formations consciousness.


The Lincoln Town Car will no longer
be manufactured after 2011.

Friday, 13 April 2012

The maturity structure of uncertainty

Occupy yourself with minute detail
how the world becomes the world
ink on paper and light on light a noun

that goes beyond gesture that sharp
recognition or come-hither
when you pick the page take stock

asses the risk premium surface of variance
and where am I going with this. Alice.
A line of pilgrims at the end of the line —

All that is straight lies. All truth is crooked
or at least reversion to the mean.
It’s vertigo. It’s a catenary the shape of a weighted cable

or a chain. It’s if things change this much the information content of the term structure of error.
It’s a black scarf flung over the shoulder and flung again
the key idea to hedge perfectly in just the right way and consequently —