Profile

Cover photo
Jeff Daley
Lived in Redmond, WA
186 followers|2,847 views
AboutPostsPhotosVideos

Stream

Jeff Daley

Shared publicly  - 
 
WANT SKYRIM NOW
3
Jason Cross's profile photoJim Cartwright's profile photoJeff Daley's profile photoMargaret Matteson's profile photo
4 comments
 
Gah, I can't stand it. And I have to work this weekend and won't get a crack at it until Sunday.
Add a comment...

Jeff Daley

Shared publicly  - 
 
I guess I'm a baker now, as well as a cook.

I mean, that's what happens when you get a stand mixer, right?
1
Kris Panchyk's profile photoMatt Griffin's profile photoChastity Blackwell's profile photo
3 comments
 
I have always thought of a stand mixer as one of those things that signals you actually really use your kitchen. Assuming you didn't buy it as an expensive kitchen ornament, that is.
Add a comment...

Jeff Daley

Shared publicly  - 
 
New blog post: a speech explaining exactly why banks are such tremendous dicks.
The Most Interesting Speech on Corporate Accounting Ever. This is maybe the best speech you'll ever read on corporate finance and accounting, and that's saying something given how riveting tha...
1
Matt G's profile photo
Matt G
 
Good stuff.. What do we expect to happen when all the incentives are for risky behavior?
Add a comment...

Jeff Daley

Shared publicly  - 
 
Bank of America: Evil genius.


This is going very deep into the weeds, so bear with me. It's an example of just how large banks are exploiting lax regulation to screw us.

Bank of America has a LOT of toxic assets on his hands. Specifically it has instruments called derivatives that may cause it to have to pay out a lot of money very soon. Bank of America isn't actually a bank; it's really a holding company with many different types of institutions beneath it.

Well, knowing that its Merrill Lynch division might get blowed up by these derivative contracts, BoA recently transferred them to a normal deposit-taking institution. You know, the type of place that you and drop our paychecks every couple of weeks.

The reason for this? The bankruptcy reform act passed in 2005 gives the holders of derivative contracts first dibs on a firm's assets in a bankruptcy. What this means is that if these assets blow up, all of the deposits at the institution BoA dropped them off at will be used to pay off the contracts. Of course, as a deposit-taking institution, the depositers will be made whole by the FDIC. That is to say: you and me, the taxpayers.

It's a pretty ingenious scheme. It's also positively evil. BoA has figured out a way to get you and I to pay off Merrill Lynch's bad bets.
Bank of America Corp., hit by a credit downgrade last month, has moved derivatives from its Merrill Lynch unit to a subsidiary flush with insured deposits, according to people with direct knowledge of...
3
6
Ryan Meray's profile photoMark Brian's profile photoJeff Fate's profile photoRoberto Arguedas's profile photo
5 comments
 
Not that other banks aren't playing similar games but in all of the times I've had exposure to BoA they have been an ethical Black Hole.
Add a comment...

Jeff Daley

Shared publicly  - 
 
This is a very good discussion that goes to some of the central issues in our politics. Anyone who knows me won't be surprised to discover I come down in Ezra's "structural pessimist" camp.
1
Karl Walestrand's profile photoJeff Daley's profile photoMichael Wolf's profile photo
4 comments
 
Call me an idealist but I'll take pissing in the wind over shitting in my own cornflakes any day of the week.
Add a comment...
In his circles
228 people
Have him in circles
186 people
David Koontz's profile photo
Thomas Valley's profile photo
Jeff Fate's profile photo
Lindsey Himmler's profile photo
Brent Macha's profile photo
Jason Townsend's profile photo
Joshua Marshall's profile photo
Ilan Maizlin's profile photo
Aaron Black's profile photo

Jeff Daley

Shared publicly  - 
 
New blog post:the political economy problem facing Europe and Greece.
Greece: the Political Economy Angle. I am very much shooting from the hip here. Mea culpa. From what I gather the current choices facing Greece* are default (with various unpleasant long-term ramifica...
1
Add a comment...

Jeff Daley

Shared publicly  - 
 
Something sort of amazing: I'm staring at the screen working on my History midterm (a paper focused around the relative success or failure of Reconstruction after the Civil War). I've idly banged out a couple of paragraphs that I wasn't very happy with while trying to figure out how to approach the essay when BAM! Forty five minutes and four pages later I have one of the best papers I've written in college.
1
Mark C's profile photo
Mark C
 
Writing rough drafts totally changed my perspective. I used to knock out stuff at the last minute in one pass and it was OK, but man. Putting thoughts down and then thinking about rethinking is just amazing.
Add a comment...

Jeff Daley

Shared publicly  - 
 
Week 7/14 of MCFA complete. 50% done with Fire Academy!
1
Add a comment...

Jeff Daley

Shared publicly  - 
 
Founder's Breakfast Stout: lives up to the hype!
1
Add a comment...

Jeff Daley

Shared publicly  - 
 
I hate my business statistics professor. She is awful and useless. The entire Ec dept. at Brookdale is a goddamn embarassment to the profession.
1
Add a comment...
People
In his circles
228 people
Have him in circles
186 people
David Koontz's profile photo
Thomas Valley's profile photo
Jeff Fate's profile photo
Lindsey Himmler's profile photo
Brent Macha's profile photo
Jason Townsend's profile photo
Joshua Marshall's profile photo
Ilan Maizlin's profile photo
Aaron Black's profile photo
Work
Occupation
Full time student. Part time superhero.
Basic Information
Gender
Male
Story
Tagline
Jeff likes beer.
Places
Map of the places this user has livedMap of the places this user has livedMap of the places this user has lived
Previously
Redmond, WA - Bothell, WA - Ocean, NJ
Links
Other profiles