Keyword: finance

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  • Alternative to Yahoo Finance?

    06/17/2013 8:31:42 AM PDT · by Former MSM Viewer · 4 replies
    6-17-13 | self
    Yahoo Finance used to be the best Finance site on the web but lately, it has had errors so many times. Any alternatives? I tried Google Finance but didnt think it was as easy to customize as Yahoo Finance.
  • Goldman Sachs' Forecasts For The Global Financial Markets In One Tiny Table

    06/10/2013 5:13:59 AM PDT · by blam · 3 replies
    Business Insider ^ | 6-10-2013 | Sam Ro
    Goldman Sachs' Forecasts For The Global Financial Markets In One Tiny Table Sam Ro June 10, 2013, 6:04 AM There isn't a whole lot on the economic or earnings calendar this week until Thursday. Perhaps now's a good time for a mid-year assessment of your investments. For what it's worth, here's a table rounding up Goldman Sachs' forecast for everything:
  • World Bank Insider Blows Whistle on Corruption, Federal Reserve

    05/27/2013 2:14:57 PM PDT · by lula · 23 replies
    The New American ^ | 22 May 2013 | Alex Newman
    A former insider at the World Bank, ex-Senior Counsel Karen Hudes, says the global financial system is dominated by a small group of corrupt, power-hungry figures centered around the privately owned U.S. Federal Reserve. The network has seized control of the media to cover up its crimes, too, she explained. In an interview with The New American, Hudes said that when she tried to blow the whistle on multiple problems at the World Bank, she was fired for her efforts. Now, along with a network of fellow whistleblowers, Hudes is determined to expose and end the corruption. And she is...
  • ANALYST: What We Are Seeing Is A Recalibration Of The Cost Of Money

    05/27/2013 10:24:25 AM PDT · by blam · 10 replies
    Business Insider ^ | 5-26-2013 | Joe Weisenthal
    ANALYST: What We Are Seeing Is A Recalibration Of The Cost Of Money Joe Weisenthal May 27, 2013, 7:02 AM Part of the reason people are nervous about Japan is the potential for a disturbance caused by an increase in long-term government bond yields. The fear is that ultra-aggressive easing will create inflation, leading to an interest rise, creating havoc for banks who own so much government debt. And in the US, all the concern is about the so-called "Taper" the winddown of QE that may begin this year. In an email to clients, SocGen's Kit Juckes writes: What we...
  • The Fed’s Hands Are Tied… Right As The Financial System Begins To Crack

    05/25/2013 10:03:04 AM PDT · by blam · 10 replies
    The Market Oracle. ^ | 5-25-2013 | Graham Summers
    The Fed’s Hands Are Tied… Right As The Financial System Begins To Crack Stock-Markets / Financial Markets 2013 May 25, 2013 - 04:55 PM GMT By: Graham Summers The Fed would do well to look at Japan. Japan’s Nikkei, after rallying over 70% since November, just collapsed 11% in less than two days. Looking at the chart, it’s pretty clear where this thing is heading: the same as the NASDAQ in 2000. This is the problem with economic policy that focuses on pushing stocks higher: eventually the collapsing economy comes home to roost and stocks implode. We saw this in...
  • A Review of Criteria Used by the IRS to Identify 501(c)(4) Applications for Greater Scrutiny

    05/21/2013 8:33:26 AM PDT · by topher · 7 replies
    Live broadcast of hearings... Alerted by Michelle Malkin.
  • How The Bubonic Plague Actually Saved Europe In The 14th Century (Finance)

    05/15/2013 11:28:58 AM PDT · by blam · 33 replies
    TBI ^ | 5-15-2013 | Sam Ro
    How The Bubonic Plague Actually Saved Europe In The 14th Century Sam Ro May 15, 2013, 1:31 PM Studying the history of financial crises can be quite enlightening. Deutsche Bank's Peter Hooper just published an interesting report considering crises going back to the Middle Ages. Referring to the work of Juesus Huerta de Soto, Geld, Bankkredit und Konjunkturzyklen, and Stuttgart, Hooper summarizes what happened during the European credit crisis of the 14th century. What's interesting is how the country got out of the crisis. From Hooper's note (emphasis added): In the early 14th century banks in Florence engaged in a...
  • The Mellowing of Maxine Waters

    05/13/2013 6:59:21 PM PDT · by jdsteel · 16 replies
    New York Times ^ | 05/132013 | jdsteel
    OVER her 22 years in Congress, Maxine Waters has likened bank executives to “gangsters,” snarkily addressed them as “captains of the universe” and threatened to tax their companies “out of business.”..... In the past, such grumbling might have set off Ms. Waters’s famous hair-trigger temper. But with each complaint, she leaned in for more, nodding appreciatively. “We’ve heard they chase down silly stuff,” Ms. Waters said, referring to regulators and shaking her head in disapproval. “I’m willing to take a hit” to help lower the capital requirements, she said. She even suggested the bankers hire new lobbyists to better represent...
  • Alan Abelson: 1925-2013

    05/11/2013 7:56:34 AM PDT · by proxy_user · 6 replies
    Barron's ^ | May 11, 2013 | Edwin A. Finn Jr.
    Financial journalism lost one of its leading lights on Thursday when Alan Abelson died at the age of 87. Alan had served Barron's as a writer, editor, and chief columnist for the past 57 years. For many readers, there can be no substitute for Alan's witty, wise, and wonderfully written comments each week in Up & Down Wall Street. But Alan's contributions to Barron's, and to financial journalism, go beyond his marvelous column. During his career, Alan trained dozens of journalists to be skeptical, to be exacting, to help average investors, and to be on the lookout for Wall Street's...
  • Advice from "beyond the echo chamber"

    02/06/2009 3:56:41 PM PST · by Cindy · 14 replies · 337+ views
    WHITEHOUSE.gov - blog ^ | Friday, February 6th, 2009 at 12:55 pm | n/a
    Note: The following text is a quote: http://www.whitehouse.gov/blog_post/beyond_the_echo_chamber/ Friday, February 6th, 2009 at 12:55 pm Advice from "beyond the echo chamber" We just learned the economy lost another 600,000 jobs last month. It's a staggering number, and it underscores just how deep this crisis is – and, as the President pointed out this morning, it’s accelerating. That's why he created the Economic Recovery Advisory Board -- to solicit ideas from "beyond the echo chamber of Washington, DC." "I’m not interested in groupthink, which is why the Board reflects a broad cross-section of experience, expertise, and ideology," he said. "We’ve recruited...
  • Goodbye To Economic Austerity

    04/29/2013 6:36:06 PM PDT · by blam · 6 replies
    The Market Oracle ^ | 4-29-2013 | Alasdair Macleod
    Goodbye To Economic Austerity Economics / Global EconomyApril 29, 2013 - 12:30 PM GMT By: Alasdair Macleod There is a new campaign to end austerity. First, the IMF lets it be known it has second thoughts about it; then we are told the threshold of 90% government debt to GDP which must not be crossed, set by Professors Reinhart & Rogoff, is based on an excel spread-sheet error. Lastly, Bill Gross of PIMCO, the largest bond fund in the world, tells us austerity is not working. The new mood is spreading, to the relief of beleaguered countries like Spain and...
  • Wealth tax to pay for EU bail-outs (Here we go)

    04/15/2013 2:43:35 AM PDT · by Sir Napsalot · 21 replies
    Telegragh (UK) ^ | 4-14-2013 | Ambrose Evans-Pritchard
    Wealthy households would face new taxes on property and other assets under German plans to prop up the struggling eurozone. Senior advisers to Chancellor Angela Merkel are pushing for better-off households to pay towards the cost of any future bail-outs for the weaker members of the single currency. The proposals, from members of Germany’s council of economic experts, raise the prospect of taxes being imposed on property in a country like Spain if its government was forced to seek a bail-out. The council, known as the “Five Wise Men”, is often used to test new policies that are later adopted...
  • Secrets of the Cyprus Heist

    04/03/2013 5:25:37 AM PDT · by golux · 10 replies
    WND ^ | 04.03.13 | Franklin Raff
    I have served as a flag-man among the pirates of offshore banking... (snip) ...why the plunder of Cyprus is probably one of the most brilliant acts of wholesale theft the world has ever known, why the stolen treasure may be thousands of times greater than has been suggested, and why the names of the victims, and the full value of the loot, will remain a mystery forever... (snip) Though it may be easy to think of offshore depositors as foreign outlaws, pirates or simply “Russians,” this is not nearly the case. Cyprus was a leader – in some circles and...
  • China and Brazil sign $30bn currency swap agreement

    04/01/2013 8:06:11 PM PDT · by Lorianne · 7 replies
    BBC News ^ | 26 March 2013
    China and Brazil have signed a currency swap deal, designed to safeguard against future global financial crises. The pact, first announced last year, will allow their central banks to swap local currencies worth up to 190bn yuan or 60bn reais ($30bn; £20bn). Officials said this will ensure smooth bilateral trade, regardless of global financial conditions. Along with being the world's second-largest economy, China is also Brazil's biggest trading partner. "If there were shocks to the global financial market, with credit running short, we'd have credit from our biggest international partner, so there would be no interruption of trade," said Guido...
  • Money-market funds are a most dangerous investment

    03/29/2013 10:17:18 AM PDT · by Zakeet · 6 replies
    Wall Street Journal - Market Watch ^ | March 29, 2013 | Rex Nutting
    Money-market funds, thought to be one of the safest investments, are actually some of the most dangerous. They are still vulnerable to the same kind of bank run that nearly pushed the global economy over the brink in 2008, and there’s no plan by the industry or by its regulators to fix that vulnerability. The money-market funds are smaller than they were in 2008, but if anything, they are riskier. Current U.S. law prohibits the kind of federal guarantee that, in 2008, stopped the bank run before it could bring down the financial system. The next run on these shadowy...
  • MARC FABER: Not Even Gold Will Be Able To Save You From What Is Coming

    03/27/2013 3:44:13 PM PDT · by blam · 47 replies
    TBI ^ | 3-27-2013 | Matthew Boesler
    MARC FABER: Not Even Gold Will Be Able To Save You From What Is Coming Matthew BoeslerMarch 27, 2013Marc Faber, who authors the Gloom Boom & Doom newsletter, is usually pretty bearish on stocks and bullish on gold. Lately, though, gold doesn't seem like it can catch a bid. "Despite the continued reverberations regarding the Cyprus bailout and its involvement of bank deposits, gold struggled to maintain the positive momentum created in the first two weeks of March and instead now looks very likely to move lower, towards $1580/oz," wrote Deutsche Bank commodities analyst Xiao Fu in a note this...
  • Daily finance & investment thread (3-20-13 edition)

    03/20/2013 7:23:52 AM PDT · by dennisw · 2 replies
    3-20-13
    Daily finance & investment thread (3-20-13 edition) Trying to focus on the markets for today and each day and the economic news A number of people have talked about such a thread. Lets see how it goes. This is where you can impart some investment wisdom to your fellow freepers. You can vent about the big one that got away. You can chime in how Obama is out to wreck American capitalism. If you see another FR economic thread you like and want to link to it here, please do Post your favorite economic site links. Your favorite precious metals...
  • After $10 million campaign, Rep. Dan Maffei says it's time to take money out of politics

    03/10/2013 11:11:27 AM PDT · by Behind Liberal Lines · 15 replies
    © 2013 Syracuse Online LLC. All rights reserved ^ | March 10, 2013 at 7:05 AM | By Mark Weiner | mweiner@syracuse.com
    Washington -- Rep. Dan Maffei, after winning the most expensive campaign on record for a Central New York congressional seat, says it is time to take the big money out of politics. Despite the millions of dollars in special-interest money spent on his behalf, Maffei says he's ready to change the system and back it up with tough legislation.
  • Fed Injects Record $100 Billion Cash Into Foreign Banks Operating In The US In Past Week

    03/10/2013 7:48:36 AM PDT · by Zakeet · 9 replies
    Zero Hedge ^ | March 9, 2013
    Those who have been following our exclusive series of the Fed's direct bailout of European banks (here, here, here and here), and, indirectly of Europe, will not be surprised at all to learn that in the week ended February 27, or the week in which Europe went into a however brief tailspin following the shocking defeat of Bersani in the Italian elections, and an even more shocking victory by Berlusconi and Grillo, leading to a political vacuum and a hung parliament, the Fed injected a record $99 billion of excess reserves into foreign banks. As the most recent H.8 statement...
  • Daily finance & investment thread (3-8-13 edition)

    03/08/2013 4:14:39 AM PST · by dennisw · 13 replies
    3-8-13
    Daily finance & investment thread (3-8-13 edition) Trying to focus on the markets for today and each day and the economic news A number of people have talked about such a thread. Lets see how it goes. This is where you can impart some investment wisdom to your fellow freepers. You can vent about the big one that got away. You can chime in how Obama is out to wreck American capitalism. If you see another FR economic thread you like and want to link to it here, please do Post your favorite economic site links. Your favorite precious metals...
  • Company To Add 332 Jobs In Owensboro (Kentucky)

    Owensboro officials say the city's largest private employer plans an expansion that will add more than 300 new jobs. Mayor Ron Payne told the Messenger-Inquirer (http://bit.ly/13xp2KC) on Friday that U.S. Bank Home Mortgage will invest $15.2 million in an expansion that will add 332 jobs in the next three years. With the addition jobs, the company will employ 2,203 workers...
  • Daily finance & investment thread (3-2-13 edition)

    03/02/2013 5:39:14 AM PST · by dennisw · 11 replies
    3-2-13
    Trying to focus on the markets for today and each day and the economic news A number of people have talked about such a thread. Lets see how it goes. This is where you can impart some investment wisdom to your fellow freepers. You can vent about the big one that got away. You can chime in how Obama is out to wreck American capitalism. If you see another FR economic thread you like and want to link to it here, please do Post your favorite economic site links. Your favorite precious metals blogs and sites Apmex.com is a solid...
  • There Goes The Sequester

    03/01/2013 4:34:10 PM PST · by Zakeet · 13 replies
    Zero Hedge ^ | March 1, 2013
    Today is the day when, if one listens to Obama whose idea it was in the first place, an unprecedented $85 billion spending cuts will be sequestered, unleashing famine, pestilence, the apocalypse and grizzly bears (as all park rangers will be dead from starvation). Which is why we applaud the administration's desire to preempt this tragic for the nation outcome, by issuing, in one day alone: February 28, $80 billion in Treasury's sending debt to (obviously) what is a new all time high $16,687,289,180,215.37. In other words, the entire apocalyptic impact of the sequester for 2013 was offset by one...
  • Daily finance & investment thread (3-1-13 edition)

    03/01/2013 6:44:22 AM PST · by dennisw · 32 replies
    3-1-13
    Trying to focus on the markets for today and each day and the economic news A number of people have talked about such a thread. Lets see how it goes. This is where you can impart some investment wisdom to your fellow freepers. You can vent about the big one that got away. You can chime in how Obama is out to wreck American capitalism. If you see another FR economic thread you like and want to link to it here, please do Post your favorite economic site links. Your favorite precious metals blogs and sites Apmex.com is a solid...
  • Daily finance & investment thread (2-28-13 edition)

    02/27/2013 11:19:24 PM PST · by dennisw · 14 replies
    2-28-13
    Trying to focus on the markets for today and each day and the economic news A number of people have talked about such a thread. Lets see how it goes. This is where you can impart some investment wisdom to your fellow freepers. You can vent about the big one that got away. You can chime in how Obama is out to wreck American capitalism. If you see another FR economic thread you like and want to link to it here, please do Post your favorite economic site links. Your favorite precious metals blogs and sites Apmex.com is a solid...
  • Daily finance & investment thread --- edition for 2-27-13

    02/26/2013 9:15:54 PM PST · by dennisw · 30 replies
    2-27-13
    Trying to focus on the markets for today and each day and the economic news A number of people have talked about such a thread. Lets see how it goes. This is where you can impart some investment wisdom to your fellow freepers. You can vent about the big one that got away. You can chime in how Obama is out to wreck American capitalism. If you see another FR economic thread you like and want to link to it here, please do Post your favorite economic site links. Your favorite precious metals blogs and sites Apmex.com is a solid...
  • DAVID WOO: The 'Moment Of Truth' For The US Economy Is Approaching In Just The Next Few Weeks

    02/07/2013 4:29:49 PM PST · by blam · 23 replies
    TBI ^ | 2-7-2013 | Joe Weisenthal
    DAVID WOO: The 'Moment Of Truth' For The US Economy Is Approaching In Just The Next Few Weeks Joe WeisenthalFebruary 7, 2013, 12:05 PM Yesterday at Bloomberg we got the chance to meet David Woo, BofA/ML's brilliant strategist for Global FX and rates. The focus of our segment was on the Japanese yen, but off camera Woo had some interesting thoughts on the US economic situation, and why we're about to approach what he calls a 'moment of truth.' He noted to us that there's been a growing divergence between the S&P 500 and consumer sentiment, and that it may...
  • Nearly Half Of American Families Live On The Edge Of Financial Ruin

    02/04/2013 1:37:40 PM PST · by blam · 44 replies
    TBI ^ | 2-3-2013 | Mandi Woodruff
    Nearly Half Of American Families Live On The Edge Of Financial Ruin Mandi WoodruffFebruary 4, 2013, 1:19 PM In the past few years, Americans have learned a thing or two about how quickly disaster can strike. And with each Hurricane Sandy, housing crisis, and stock market crash that rocks our world, we're faced with the realization that many of us simply aren't prepared for the worst. A sobering new report by the Corporation for Enterprise Development shows nearly half of U.S. households (132.1 million people) don't have enough savings to weather emergencies, or finance long-term needs like college tuition, health...
  • Republicans pledge to block Obama consumer finance pick

    02/02/2013 9:18:06 AM PST · by Olog-hai · 3 replies
    Reuters ^ | Fri Feb 1, 2013 5:02pm EST | Emily Stephenson
    Senate Republicans on Friday pledged to block President Barack Obama’s choice to lead the consumer finance watchdog until Democrats agree to restructure it, ramping up an expected fight this year over the controversial new bureau. The group of 43 Republicans, led by minority leader Mitch McConnell of Kentucky and Mike Crapo, an Idaho senator who is the top Republican on the banking committee, said the Consumer Financial Protection Bureau lacks congressional oversight. Last week, Obama re-nominated Richard Cordray to lead the bureau. Cordray received a temporary appointment as director last year, but his position expires at the end of 2013....
  • Denial, Panic And Doubt In Davos

    01/27/2013 7:31:20 AM PST · by blam · 8 replies
    Denial, Panic And Doubt In DavosThe GuardianJanuary 27, 2013 First there was denial, then panic, then hope – now there is nagging concern this downturn simply won't come to an end.The World Economic Forum annual meeting in Davos. Photograph: Laurent Gillieron/EPA Davos has been through some violent mood swings these past five years. First there was denial. Then there was panic. Then there was hope that the worst was over. Now there is nagging concern that this downturn simply won't come to an end. Each year the consultancy firm PwC conducts a survey of the great and good of the...
  • The Sacramento Kings' Departure From Hypertaxed California Signals Return Of The Seattle SuperSonics

    01/24/2013 10:39:21 PM PST · by Lexinom · 14 replies
    Forbes ^ | 24 January 2013 | Rex Sinquefield
    Fans of the Seattle SuperSonics, the beloved NBA team whisked away to Oklahoma City in 2008, will soon have reason to stand up and cheer. No, the Oklahoma City Thunder isn’t headed back to the Pacific Northwest – but the Sacramento Kings will be calling Seattle home before too long. The resurrection of the SuperSonics has spirits soaring in the Evergreen State. On Monday morning, the Seattle Times reported that a Seattle group helmed by...-- SNIP --...The marginal personal-income tax rate for wealthy Californians – a category under which professional ballplayers almost certainly fall – is a whopping 13.3 percent....
  • Yes, Virginia, there really is a Free Lunch

    01/21/2013 11:20:29 AM PST · by Pete · 7 replies
    29thday.org ^ | 1/21/2013 | George Berry
    Do you remember the Financial Crisis of 2008? You woke up that morning in September, took a shower, had your first cup of coffee, turned on the news, and heard that, apparently out of nowhere, we were on the thin edge of a financial disaster that would make the Great Depression look like a picnic. Do you remember how you felt, the sense of disbelief, the feeling of real fear? How? Why? It happened because Congress passed a law that allowed the banks to take the risk of mortgage default, and then transfer that risk to someone else. Congress even...
  • GOLDMAN: Hide Your Kids, The Sequester Is Coming

    01/15/2013 6:54:35 AM PST · by blam · 8 replies
    TBI ^ | 1-15-2013 | Joe Weisenthal
    GOLDMAN: Hide Your Kids, The Sequester Is Coming Joe WeisenthalJan. 15, 2013, 5:15 AM Goldman's Alec Phillips writes in a note that the automatic spending cuts required by the so-called "Sequester" (the spending caps imposed by the 2011 debt ceiling deal) are now a matter of "when" and not "if." He examines the sequester as part of the broader fiscal triple threat that we're seeing right now: Debt ceiling + ongoing budget resolution + sequester. While the debt ceiling has the potential to do the most damage, from a probabilistic standpoint (because the debt ceiling is unlikely to be breached)...
  • Two Of The Biggest Problems In The Financial System Will Hit In 2013

    01/14/2013 10:55:48 AM PST · by blam · 14 replies
    TMO ^ | 1-14-2013 | Graham Summers
    Two Of The Biggest Problems In The Financial System Will Hit In 2013 Stock-Markets / Financial Markets 2013Jan 14, 2013 - 03:11 AM By: Graham Summers This week is options expiration week: the week in which various call and put positions will expire. Wall Street is notorious for using these weeks to gun the markets this way and that in order to insure that the greatest number of puts and calls expire worthless. So expect the market to be even more volatile than usual this week. Outside of this, the investment world is slowly emerging from its Central Bank policy...
  • White House inactive on attack dangers ('The threat is on nobody's radar screen')

    01/08/2013 10:37:30 AM PST · by Perseverando · 26 replies
    WND ^ | January 7, 2013 | F. Michael Maloof
    WASHINGTON – The United States now is facing two serious national security challenges, but they aren’t expected to be addressed effectively because of the serious budgetary headaches Congress has created, and a virtually deadlocked legislature on just about every issue pending, according to report from Joseph Farah’s G2 Bulletin. And the White House apparently isn’t paying attention. The first is the growing concern of the impact that an electromagnetic pulse, or EMP, event – either natural or manmade – could have on the national grid system, on which the Department of Defense has a 99 percent dependency. The other concern...
  • So, Is This The End Of ECRI's Lakshman Achuthan? (Recession Forecast)

    12/28/2012 2:36:39 PM PST · by blam · 6 replies
    TBI ^ | 12-28-2012 | Sam Ro
    So, Is This The End Of ECRI's Lakshman Achuthan? Sam RoDec. 28, 2012, 2:42 PMWall Street analysts put their reputations at risk everytime they publish a forecast. And that risk rises exponentially when those forecasts go against the consensus. Few analysts have been more aggressive about their non-consensus calls than ECRI's Lakshman Achuthan, who predicted in September 30, 2011 that the U.S. was heading for a recession and that it was "inescapable." Many have criticized him for being ambiguous with his timeline for that call. But during a November 29 appearance on Bloomberg Surveillance with Tom Keene, Achuthan made it...
  • Here's What's Behind The Collapse Of The Japanese Yen — The Biggest Economic Story In The World

    12/27/2012 7:52:42 PM PST · by blam · 28 replies
    TBI ^ | 12-27-2012 | Joe Weisenthal
    Here's What's Behind The Collapse Of The Japanese Yen — The Biggest Economic Story In The World Joe WeisenthalDec. 27, 2012, 7:26 PM Earlier we joked that lost in all of the Fiscal Cliff shuffle was the fact that the yen has been getting clobbered. SocGen's FX guru Kit Juckes jokingly responded that far from getting "lost" the yen carnage was actually the only game in town. Indeed this is really the huge story in global markets right now. In addition to being a major shift in one of the world's biggest and strongest currencies, it affects all sorts of...
  • Is REVENGE or SMOKESCREEN the motive for Benghazi-Coward Obama's Fiscal "Cliff"?

    12/13/2012 6:05:12 AM PST · by Graewoulf · 10 replies
    Graewoulf | December 13, 2012 | Graewoulf
    The financial disaster of the loss of over one Trillion Taxpayer Dollars per year by the incompetent financial stewardship of Benghazi-Coward B. Hussein Obama continues without significant opposition by the cowardly US House of Representatives. Sobber of the House Boehner is so fearful of the negative opinions that will always come from the Commie Liberal Agenda Media, (CLAM), that Boehner is willing to tearfully impale himself on Obama's threat of a veto just to "save" America from not getting a "Deal" by the end of 2012. Conservatives do not want a "Deal." What we want is for the US House...
  • In cautionary move, Europe centralizes bank oversight

    12/12/2012 8:57:37 PM PST · by ruralvoter · 5 replies
    CBS News ^ | 12/12/12 | staff
    European Union finance ministers reached an agreement early Thursday to create a single supervisor for their banks - one of the most significant transfers of authority from national governments to regional authorities since the creation of the euro currency. Under the deal, banks with more than $39 billion in assets supervised or those that represent a significant proportion of their national economies will be placed under the oversight of the European Central Bank. The deal gives the ECB broad powers, including the ability to grant and withdraw banking licenses, investigate institutions, and financially sanction banks that don't follow the rules.
  • The NASDAQ Got Slammed, And Big Banks Surged — One Firm Thinks This Is A Sign Of Things To Come

    12/05/2012 8:00:31 PM PST · by blam · 1 replies
    <p>It was an interesting an odd day today. Shares of tech leader Apple got destroyed for seemingly no reason, bringing down the NASDAQ.</p> <p>On the other hand, mega-banks like Bank of America and Citi (which announced huge layoffs) surged.</p> <p>That brings us to this recent chart from SocGen, comparing tech vs. banks.</p>
  • The Coming Derivatives Panic That Will Destroy Global Financial Markets

    12/05/2012 9:26:29 AM PST · by blam · 19 replies
    TMO ^ | 12-5-2012 | John Rolls - Michael Snyder
    The Coming Derivatives Panic That Will Destroy Global Financial Markets Stock-Markets / Financial CrashDec 05, 2012 - 04:24 AM By: John Rolls John Rolls Submits, Michael Snyder writes: When financial markets in the United States crash, so does the U.S. economy. Just remember what happened back in 2008. The financial markets crashed, the credit markets froze up, and suddenly the economy went into cardiac arrest. Well, there are very few things that could cause the financial markets to crash harder or farther than a derivatives panic. Sadly, most Americans don't even understand what derivatives are. Unlike stocks and bonds, a...
  • REPORT: Elizabeth Warren Will Get A Seat On The Senate Banking Committee

    12/04/2012 7:18:43 AM PST · by blam · 31 replies
    TBI ^ | 12-4-2012 | Linette Lopez
    REPORT: Elizabeth Warren Will Get A Seat On The Senate Banking Committee Linette LopezDecember 4, 2012 Huffington Post is reporting that Elizabeth Warren now has a seat on the Senate Banking Committee. The freshman Senator-elect and former Harvard professor is known for being an outspoken critic of Wall Street. After being passed over for the top spot at the Consumer Financial Protection Bureau, an agency she helped to form, she won a nail-biter Massachusetts Senate contest against Scott Brown. There has been a ton of speculation about which committee Warren would sit on. As a freshman, her picks take a...
  • Four Reasons To Remain Optimistic

    11/29/2012 6:09:31 AM PST · by blam · 14 replies
    TDR ^ | 11-28-2012 | Chris Mayer
    Four Reasons To Remain Optimistic By Chris Mayer 11/28/12 The holidays are here. Please allow me be the first to say there’s reason for optimism. Yes… You read that right: optimism. I have been thinking a lot about this — about optimism and pessimism and the reasons for both — in recent post-presidential election days. It’s not that I care that Obama won or Romney lost. Please don’t misunderstand me. I didn’t (and still don’t) support either of them. It’s the whole process that gets me down. It brings out the worst in everybody. And I am always a little...
  • Markets Just Slipped After Senator Reid's Comments

    11/27/2012 12:59:10 PM PST · by blam · 43 replies
    TBI ^ | 11-27-2012 | Sam Ro
    Markets Just Slipped After Senator Reid's Comments Sam RoNov. 27, 2012, 2:29 PMMarkets have been quiet for most of the day. But in the last few minutes, we've seen stocks lose their legs. Bloomberg is reporting that Senate Majority Leader Harry Reid said little progress has been made regarding fiscal cliff negotiations and that he was "disappointed." If Congress is unable to make a deal, a series of tax cuts and spending programs are set to expire by the end of the year, potentially cutting 2013 GDP by as much as 5%.
  • The "Fiscal Cliff" Story You're Not Hearing from the Mainstream Press

    11/26/2012 1:13:04 PM PST · by blam · 23 replies
    TMO ^ | 11-26-2012 | Daily Wealth - Dan Ferris
    The "Fiscal Cliff" Story You're Not Hearing from the Mainstream Press Stock-Markets / Financial Markets 2012Nov 26, 2012 - 08:16 AMBy: DailyWealth Dan Ferris writes: Investors are scared... In fact, they're even more scared today than they were in late 2008. That's hard to believe... In 2008, the market was down close to 50% from its late-2007 highs. The housing market was crushed. Bear Stearns, Merrill Lynch, Lehman Brothers, and AIG had all gone out of business in one way or another. Officials from the Federal Reserve and U.S. Treasury were running around like chickens with their heads cut off......
  • Stock Market Last Push Higher Before the Big Collapse?

    11/25/2012 2:50:26 PM PST · by blam · 17 replies
    TMO ^ | 11-25-2012 | Graham Summers
    Stock Market Last Push Higher Before the Big Collapse? Stock-Markets / Financial CrashNov 25, 2012 - 01:59 PM By: Graham Summers With most of Wall Street on vacation, those few traders manning their desks are taking advantage of the low volume to push the market sharply higher. This, combined with a large move up by the Euro has pulled the entire risk trade up forcing the US Dollar lower. This move was to be expected on some levels. Since 2002, there has been a rally from just before Thanksgiving until the second week of December. This year is shaping up...
  • Fallacies Such As MMT Are "Leading The Sheep To Slaughter"

    11/18/2012 5:53:17 AM PST · by Renfield · 10 replies
    zerohedge.com ^ | 11-17-2012 | Kyle Bass
    Below are some of the key highlights from Kyle Bass' latest, and as usual, must read letter:On central banks and the final round of global monetary debasement: Central bankers are feverishly attempting to create their own new world: a utopia in which debts are never restructured, and there are no consequences for fiscal profligacy, i.e. no atonement for prior sins. They have created Potemkin villages on a Jurassic scale. The sum total of the volatility they are attempting to suppress will be less than the eventual volatility encountered when their schemes stop working. Most refer to comments like this...
  • Answerable to No One (Consumer Financial Protection Bureau)

    11/17/2012 10:39:47 AM PST · by what's up · 11 replies
    Washington Post ^ | Nov 16, 2011 | George Will
    There can be unseemly exposure of the mind as well as of the body, as the progressive mind is exposed in the Consumer Financial Protection Bureau (CFPB), a creature of the labyrinthine Dodd-Frank legislation. Judicial dismantling of the CFPB would affirm the rule of law and CongressÂ’s constitutional role. The CFPBÂ’s director, Richard Cordray, was installed by one of Barack ObamaÂ’s spurious recess appointmentswhen the Senate was not in recess. Vitiating the SenateÂ’s power to advise and consent to presidential appointments is congruent with the CFPBÂ’s general lawlessness. The CFPB nullifies CongressÂ’s power to use the power of the purse...
  • Stocks Skid 2%; Dow Dives 300, S&P Below 1400

    11/07/2012 8:37:31 AM PST · by madison10 · 127 replies
    CNBC ^ | 11/7/12 | JeeYeon Park
    Stocks took a sharp nosedive across the board Wednesday in the wake of President Barack Obama's re-election, triggered by worries over the looming "fiscal cliff" and as fears over Europe's economy reemerged. The Dow fell below 13,000, while the S&P 500 traded under 1,400 for the first time since early September...
  • Recession Probability - 100%

    11/06/2012 3:06:17 PM PST · by blam · 3 replies
    Street Talk Live ^ | 11-6-2012 | Lance Roberts
    Recession Probability - 100% Written by Lance Roberts Tuesday, November 6, 2012 During my usual morning reading process I came across a posting on PragCap by Cullen Roche regarding a chart of U.S. recession probabilities. The chart can be found at the St. Louis Federal Reserve website and is derived from a study by J. Piger and M. Chauvet, from the University of Oregon, which was published in the Journal of Business and Economic Statistics in 2008. (For other economic geeks the full paper is attached) Cullen points out that "What’s interesting about this index is the current reading. At...