The Economist’s Buttonwood Gathering, a conference bringing together global regulators and bankers to discuss and debate new ideas and develop a new set of guidelines moving forward, has just taken place in New York. Michael Panzer, writer of the Financial Armageddon blog and author of “Financial Armageddon: Protect Your Future from Economic Collapse”, was in attendance and has kindly shared some of the more interesting quotes on his blog, as reported below.

Secretary Tim Geithner, United States Department of the Treasury:

“Generally, we did not do enough.” (Referring to the failure to address growing concerns over excessive risk-taking in the period leading up to the financial crisis.) [Editor's note: understatement of the year?]

Stephen Roach, Chairman, Morgan Stanley Asia:

Those who are looking for a “V”-shaped recovery are in for “a rude awakening.”

“The imbalances going into the crisis were large to begin with.

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In a lively discussion with Simon Johnson, Lawrence Fish deconstructs the near collapse of the banking system and points out the multiple factors that have contributed to the financial crisis.

Topics in the discussion include the banks that did not fail, how Canadian and other countries’ banking systems also did not fail, the political landscape of banking regulation, ethics, bonuses in the banking industry and the ethics oath signed by 50% of the students at the Harvard Business School.

This is a must-view video clip, but be warned that it runs for 53 minutes.

Source: MIT World, September 24, 2009 (hat tip: Infectious Greed).

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PLC Systems Inc., a company focused on cardiac and vascular medical device-based technologies, announced the appointment of Dr. Louis Brenner to the Company’s Board of Directors. Dr. Brenner, currently Senior Vice President of AMAG Pharmaceuticals, Inc., replaced former board member Alan Magazine. Dr. Brenner holds a B.S. degree in Biology from Yale College, an M.D. degree from Duke University School of Medicine, and an M.B.A. degree from Harvard Business School. Additionally, he is board certified in Nephrology and Internal Medicine and cares for patients with kidney disease at Brigham and Women’s Hospital in Boston. Dr. Brenner has published on a variety of Nephrology topics in leading scientific journals.

Dr. Brenner, 39, brings expertise to the development and commercialization of clinically innovative technologies. At AMAG Pharmaceuticals, he has played a key role in the progress of the company’s lead product candidate. Prior to joining AMAG Pharmaceuticals, he spent four years at Genzyme

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For decades, General Motors Corp. (NYSE: GM) was an icon of American industry. But over the past decade its sales in China have steadily increased, while dwindling sales at home have turned the company into a relic.

Now facing bankruptcy, GM has an opportunity to shift its operations to China, its fastest growing and most profitable market. The company is already attempting to move its manufacturing operations to the Asian powerhouse, and that has given rise to speculation that it will move its headquarters as well.

Of course, if GM – which has already received $15.4 in government loans – were to pick up stakes, the political fallout would be epic. What could be more “un-American” than a 101 year-old American automotive company that’s being propped up by taxpayer dollars moving to a communist nation?

But the reality is that American consumers aren’t buying GM vehicles and Chinese consumers are.

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Wal-Mart (NYSE:WMT) is thriving as recession grips the economy. As a cost leader in the retail sector, the company is benefiting from an increase in thrift. And it continues to expand its operations overseas. Horacio Marquez says Wal-Mart should emerge stronger than ever from this crisis, making it an essential part of any stock portfolio.

This frm Money Morning:

In an appearance on NBC’s “Meet the Press” on Sunday, Wal-Mart Stores Inc. (NYSE:WMT) Chief Executive Officer H. Lee Scott Jr. said the recession is changing consumer-buying habits.

What Scott didn’t say is that Wal-Mart is perfectly positioned to capitalize on those changes. “The No.1 issue today is [consumers'] concern about their job,” Scott said during the nationally televised interview. And because of that concern, Scott said consumers are making some of the following changes:

In the discounter’s “pharmacy ...

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What if things weren't as they seem?

Investors rely on predicting the outcome of events. Causation. If this happens, then that will.

But what if randomness and uncertainty were the real movers and shakers of future events? It's a scary thought. But it's one that could make you a wiser investor.

It's all in the Ludic fallacy theory of controversial polymath Nassim Taleb.

Vision Capital HedgeEx-Merrill Head in Talks With Hedge FundThe following piece on Vision Capital Advisors is being published as part of our daily effort to track hedge fund events in the industry. To review other hedge fund research please see our Hedge Fund Tracker Tool.Stan O'Neal, one of the first executives on Wall Street to be ousted as the credit crunch hit last fall, is talking to a boutique hedge fund firm about coming onboard. Vision Capital Advisors has been in talks with Stan O'Neal, the former chief executive officer of Merrill Lynch about a possible position with the firm, according to someone familiar with the situation. What O'Neal's role will be has not yet been determined, the source said. If O'Neal takes the position, it will be his ...

The Chemical Manufacturing Industry is a favorite target for environmental activists. A number of established molecules have come under sudden and persistent attacks on account of new findings about their deleterious side-effects. Some, like pesticide and asbestos manufacturers, have surrendered their revenue lines and withdrawn their products. Others have developed meaningful stewardship functions, and embarked on programs to manage the risks their brands involve.

Green business is a new fad, but it was still the 20th century when Professor Michael Porter of the Harvard Business School first mooted meeting better environmental and safety standards as a means of competitive ability. This concept has evolved into a whole set of new stock investment opportunities in stock exchanges of today.

Chemicals are ubiquitous in modern life. They are widely responsible for some of the most endearing properties of top consumer brands. Industrial clients are even more aware of chemical product benefits, for many

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