Penny Crosman

Profile of Penny Crosman

Blog Posts: 848
Articles by Penny Crosman

10 Trends That Are Reshaping the Wall Street Back Office

With new regulations on the way and calls for greater scrutiny and transparency into how financial instruments are priced and cleared, the importance of a strong back office is destined to receive a lift this year. Here are 10 developments that are reshaping Wall Street's operations departments and the technology they use.

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TGIF: Holiday Songs, Gift-Wrapping Guide

Martin Short offers holiday advice in his song on David Letterman, Adam Sandler's Hanukkah classic, Jimmy Kimmel and Norah Jones celebrate 12 days of YouTube memories, Jimmy Fallon's guide to gift wrapping. Martin Short's Holiday Song on David Letterman With an unusual holiday message for all.

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Bank of America's Rosy 2010 Forecast Based on Strong Emerging Markets, Low Inflation

Despite the 10% unemployment and 3.9 million foreclosures in the U.S. this year, Bank of America Merrill Lynch's global research group are highly optimistic about economic growth for the U.S. and the world for the coming year, economists in the group said at a press conference today. These economists forecast global domestic product will grow 4.4% in 2010, led by China at 10%. Inflation will be low, U.S. equities will perform well, and t

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Andrew Ross Sorkin Bashes Wall Street; SNL on Tiger Woods; Al Gore on What Up With That?

Jon Stewart calls Sorkin's new book Too Big to Fail too big to read; Saturday Night Live's take on the Tiger Woods saga; Al Gore visits SNL's What Up With That? New York Times' Sorkin on the Daily Show Although Jon Stewart calls New York Times journalist Andrew Ross Sorkin's new book Too Big to Fail "too big to read," he gives a soft interview to the Wall Street critic, who says a year after the $784 billion financial bailout, we're no better off.
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TGIF: The Layoff; Bucket of Rags Hot-Ticket Holiday Item; Jazz Hamsters

A company tries a new method for downsizing; retailers report that buckets of rags are flying off the shelves this holiday season; and hamsters play wind instruments. The Layoff A novel approach to making personnel decisions. Post a Comment

Industry Aims to Secure Cloud

The obstacle to large financial firms' use of public clouds has been security, but industry groups and vendors are working to fix this. And internal clouds, protected within a firm's own firewalls, are under construction.

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Emboldened Regulators Will Force Wall Street to Overhaul Data Stores, TowerGroup Says

Although regulators' top priority is to mitigate or contain future financial crises, "Regulators won't tell you you need to slow down if you have the right brakes," said Stephen Bruel, research director, securities and capital markets at TowerGroup at a briefing hosted by Sybase this morning. The right brakes, he said, might include accurate data and the ability to calculate value at risk

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Goldman's Blankfein Tells London Times He's "Doing God's Work"

Goldman Sachs has been giving writers from large newspapers access to its top executives in attempt to heal its image. But charming - or in touch with reality - these executives are not, based on interviews conducted by The Times of London and reported on yesterday. "'We didn't f*** up like the other guys. We've still got a balance sheet. So, now we've got a bigger and richer pot to piss in,' is how one Goldman banker puts it," writes John Arlidge Post a Comment

SNL Says "Really?!" to Goldman Swine Flu Shots

Amy Poehler and Seth Meyers of Saturday Night Live's Weekend Update comment on the news that Goldman Sachs gave its employees swine flu shots ahead of hospitals and schools. Post a Comment

Data Projects to Pave the Way for Business Intelligence

Business intelligence tools can deliver decision-making insight to areas on Wall Street that sorely need it, such as portfolio and risk management. The catch? Data has to be clean, accurate and organized (if not integrated), which means shelved enterprise data management projects may get resurrected.

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TGIF: Willem Dafoe, Will Ferrill Try Anti-Stress Procedure

A miracle of science and music: Aural Implant Technology.
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Wiretaps Catch 14 More Insider Traders

Hedge fund managers, trading firm executives, lawyers, and corporate insiders thought they were safe using prepaid cell phones, but were caught through the FBI's surveillance system, which captured extremely damaging phone call transcripts.

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Cuomo Files Antitrust Suit Against Intel

New York's Attorney General says Intel's rebates to server manufacturers are illegal. Intel says the Attorney General "has swallowed the complaints AMD has been shopping to regulators around the world for more than ten years."

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No Country for Old Risk Models

Congress and taxpayers agree on one thing: Financial firms cannot continue to make large, risky bets and expect a government bailout. Survival in 2010 will hinge on more-effective risk management processes and technology.

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TGIF: Has Halloween Become Overcommercialized?

Has Halloween Become Overcommercialized? The Onion delves into this pressing issue. Post a Comment

Finding Hidden Dangers in Spreadsheets

So much valuable information on Wall Street is stored in Excel spreadsheets, it's worth keeping an eye on them to spot fraud and errors before auditors do, says Ralph Baxter, CEO of ClusterSeven.

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How Prosecutors Wiretap Wall Street

Hearing that the alleged Raj Rajaratnam-led insider trading ring was detected using wiretaps and that the U.S. attorney for Manhattan, Preet Bharara, plans to employ the same kind of electronic surveillance for future Wall Street investigations, we were momentarily seized with the geeky desire to know how these wiretaps are performed. Are agents sneaking into offices and homes in the middle of the night to bug phones?

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The Case for Insider Trading

In a story in the Wall Street Journal's weekend edition, Donald J. Boudreaux, an economics professor at George Mason University, defended insider trading as a way to make markets work more efficiently and encourage investors to diversify.

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