Last year, I wrote a commentary entitled Contagion. That commentary was inspired by the early days of the meltdown of the crypto currency market (long before SBF made the whole space way more notorious with a whiff of polymorphous titillation and the reveal of sad politicians now bereft of a future income stream). The crypto mess
The Impalpable Reality of Bad News
By Rick Jones on
Why am I still shocked that bad news gets no respect these days? No, I’m serious. It seems it doesn’t really matter when business, political or economic news stinks up the joint. The gestalt teases out a good news narrative.
Just think about it. CPI prints cool… great news! The economy is stable and earnings will keep growing, GDP will…
Legal Opinions, So XX Century! A Modest Proposal
By Rick Jones on
As I’m no longer compelled to talk my book (in fact, I actually don’t have a book), I can now talk critically about legal opinions. Not to bury the lede, but I am of the view that much of our transactional opinion practice is pretty silly and counterproductive. But, on the other hand, I’m also compelled to…
Hey Its the 4th of July! Upcoming Posts from Crunched Credit
By Rick Jones on
Good morning readers. I am taking the week off so my next commentary will come out the following. Hey it’s a holiday week (and I retired from Dechert yesterday…) a terrific coda to a rainy weekend so a week off seems a proportional response!). Next week, it will be the flaws and basic silliness of …
The Entrepreneurial Lawyer (Or Banker[1])
By Rick Jones on
I seem to be on a self-help kick here (maybe I’ve got interest rate PTSD and simply need to talk about something else). Last week I was pleading for a return of the in-person closing and now here I am bloviating about on how to be a good entrepreneurial lawyer. This commentary is derived from numerous presentations…
Are We Partying for Perfection?
By Rick Jones on
As I’m writing this, I’m getting ready to attend CREFC’s 30th New York City Annual Conference and bacchanal. Once again, we will enjoy the company of our confreres, we will network, we will get educated (yes, CREFC members do actually attend substantive sessions) and will all enjoy the curious joys of the Marriott Marquis (are…
In Defense of Closings Human-ware Style: Fixing Our Growing Lord of the Flies Problem
By Rick Jones on
As many of you know, I am retiring from Dechert LLP but anticipate staying active in our industry in my advisory vehicle, Jackstay Investments, LLC. The firm has graciously given me the domain name CRUNCHEDCREDIT and hence, I will begin to resume publishing my commentaries in CrunchedCredit on an ongoing basis. You will also be…
The Fed’s Conundrum: Godzilla vs. King Kong
By Rick Jones on
It’s a good time for disaster movies…Civil War, The Day After Tomorrow, Armageddon and, of course, in the theatres right now, Godzilla vs. King Kong. Fun on the big screen, not so much in real life. Have you seen Godzilla vs. King Kong? A guilty pleasure (like eating ice cream…
How to Play It If Goldilocks Is in the House
By Rick Jones on
I perhaps have a well-earned reputation for an excess of fascination for risks, downside, black swans and other things that prevent the good times from rolling. Lover of Schadenfreude. I hope not, but I do often feel compelled to point out risks that seem to be overlooked.
I could be wrong (shocked…I’m shocked!). What happens…
Could We Bring It All Down?
By Rick Jones on
I’m going to tell you a story. This is the type of thing told around campfires designed to scare naïfs, who know too little, and PhDs who (think) they know too much. I don’t necessarily believe in the story, but it could be true.
Once upon a time, in a time we now call the…