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The House yesterday passed a new "reform" measure aimed at curtailing the practice of trading on securities with inside information amongst members of Congress and their staff. Suprise! Some members of Congress were arriving in Congress and becoming rich on the experience. Ever wonder how people go to Congress and become millionaires? The publication last year of a new academic report cleared up for us at least one way the millionaires' club known as Congress benefits.A report from four scholars, Alan J Ziobrowski; James W Boyd, Ping Cheng; and Brigitte J. Ziobrowski, titled Abnormal Returns From the Common Stock Investments...

In terms of sheer numbers, the Type 98 of the People's Republic of China, Pakistan's Al-Khalid, and the Russian Federation's T-90 (including India's licensed T‑90S) will continue to dominate the market, accounting for 54.73 percent of all new tanks rolling out worldwide, worth 43.79 percent of the market, through 2021.

China's move this week to keep its economy afloat isn't generating the big headlines that Europe's actions got, but is no less important in keeping the world's economic engine churning. While coordinated action by the world's other central banks to enhance liquidity for Europe's banks stole the focus Wednesday, China's decision to cut reserve requirements for banks was even more important, some believe. That's because the developed world has come to depend on China for a variety of reasons — from buying up American debt to providing loans to growing businesses to keeping its mighty manufacturing base growing. Easing the...

While everyone was focused on the impending European collapse, the latest soon to be refuted rumors of a quick fix from the Welt am Sonntag notwithstanding, the Bank of International Settlements reported a number that quietly slipped through the cracks of the broader media. Which is paradoxical because it is the biggest ever reported in the financial world: the number in question is $707,568,901,000,000 and represents the latest total amount of all notional Over The Counter (read unregulated) outstanding derivatives reported by the world's financial institutions to the BIS for its semi-annual OTC derivatives report titled "OTC derivatives market activity...

Lawmakers in several states have vowed to pass undocumented employer sanction laws after the Supreme Court upheld Arizona's this year. Rep. Lamar Smith (R-Texas) has drummed up some support to pass a federal version in Congress that would require all employers to use the government's E-Verify database to ensure their employees are authorized to work--or risk losing their business license. Arizona provides a case study for the effects of a tough E-Verify law on the labor market. According to a study released this year by the Public Policy Institute of California, about 92,000 or 17 percent of the Hispanic non-citizen...

Tide turns against dark pools Shanny Basar and Giles Turner 25 Oct 2011 Some of the world’s largest corporates have expressed concern regarding the growth of trading on dark pools, amid an increase in regulatory activity against the trading venues. A BNY Mellon Global Trends in Investor Relations survey of 650 companies across 53 countries, published today, discovered that a third of respondents believed dark pools “negatively impact global trading markets and that more oversight is necessary.” Peter Kondrup from drinks company Carlsberg said in the survey: “If you take it from our view point, we believe that it definitely...

The decadence of 'dark pool' markets Updated: 2011-11-07 07:49 By Daryl Guppy (China Daily) The collapse of MF Global Holdings again highlights the perils of derivative leverage in a loosely regulated market. It shows the need for genuine transparency in financial markets. The decadence of 'dark pool' markets MF Global had $1.4 billion in equity which it used to run up $44.4 billion in liabilities largely in trading European debt. The collapse of MF Global also dragged down its other trading operations, hitting individual investors and traders who found their accounts frozen and positions liquidated at unfavorable prices. MF Global...

Stocks head for big losses NEW YORK (CNNMoney) -- U.S. stocks headed for a big drop at Wednesday's open after Italy's key bond rate rose above a critical 7% level -- a sign that Prime Minister Silvio Berlusconi's pledge to step down failed to calm world markets. The Dow Jones industrial average (INDU), S&P 500 (SPX) and Nasdaq (COMP) futures fell more than 2%. Stock futures indicate the possible direction of the markets when they open at 9:30 a.m. ET. Berlusconi's departure could come as late as the first week of December, after a final vote on the budget. And...

NEW YORK (CNNMoney) -- The besieged housing market has even further to fall before home prices really hit rock bottom. According to Fiserv (FISV), a financial analytics company, home values are expected to fall another 3.6% by next June, pushing them to a new low of 35% below the peak reached in early 2006 and marking a triple dip in prices. Several factors will be working against the housing market in the upcoming months, including an increase in foreclosure activity and sustained high unemployment, explained David Stiff, Fiserv's chief economist.

NEW YORK (CNNMoney) -- U.S. stocks sold off sharply Tuesday after Greece's prime minister called for an unexpected public vote to approve Europe's debt deal. Investors fear the referendum will jeopardize the deal, since it includes austerity cuts that have not been popular with the Greek public. At midday, the Dow Jones industrial average (INDU) was down 302 points, or 2.5%, the S&P 500 (SPX) sank 36 points, or 2.9%, and the Nasdaq (COMP) lost 83 points, or 3.1%. Bank stocks were hit especially hard, with shares of Morgan Stanley (MS, Fortune 500) down more than 9% and Citigroup (C,...

The SEC alleges that Citigroup Global Markets structured and marketed a CDO called Class V Funding III and exercised significant influence over the selection of $500 million of the assets included in the CDO portfolio. Citigroup then took a proprietary short position against those mortgage-related assets from which it would profit if the assets declined in value. Citigroup did not disclose to investors its role in the asset selection process or that it took a short position against the assets it helped select. Citigroup has agreed to settle the SEC’s charges by paying a total of $285 million, which will...

Strippers with sob stories or hookers with hearts of gold are often the way that Hollywood glamorizes the career paths of exotic dancers. One combination that you don't hear about often is the stripper turned Wall Street trader. Niki Marx, 27, is that case.

Since the Affordable Health Care Act’s passage, the Obama administration has been a three-record jukebox: “Tax the Rich,” “Save the Unions” and “Green Economy.” The first two selections are broken records, stuck on “Pass this bill now.” The last is just stuck on stupid. Its main defect is the current administration’s methodology. The evidence is the Solyndra scandal.

The European markets are notably lower in afternoon trading Friday, as economic worries continued to haunt markets globally. Yet, some buying was seen in early trade with investors looking to buy shares cheap amid some encouraging remarks from the G20 meeting. Asian markets fell and the U.S. index futures are lower. Finance chiefs of the Group of 20 nations vowed "strong and co-ordinated international response" to tackle the renewed risks facing the global economy and offered to support banks, if required. However, the leaders offered no immediate policy response to the crisis. French market regulator Jean-Pierre Jouyet reportedly said that...

Post stocks which didn't fall dramatically today.... if we were REALLY having a market crash, everything across the board would fall. Example... Auto Zone Inc. (AZO) -- only went down about $6 per share from $322...not much of a crash there...regular fluctuations. Must be hundreds of others just like it. The markets are nothing but pure manipulation.

The U.S. Federal Reserve's tacit acknowledgment that America's economic slowdown is likely to persist for quite a while sent global stock markets skidding Thursday as investors brushed off the central bank's efforts to spur growth and focused instead on its gloomy assessment. Oil tumbled too but the dollar held its own against the euro, which has been weighed down in recent weeks over concerns that Greece might go bankrupt. Hong Kong's Hang Seng led stock markets lower, with a near 5 percent dive.

I am 26 and recently graduated from school. For the past almost 2 years I have been running a 401k with the tiny percentage of money I can afford to put into it with the full expectation that Social Security won't be around when I'm eligible for it, regardless of the fact I've had to pay into it. I find it really scary how many people I know around my age that aren't saving at all. At first my work only offered a regular 401 so I put in slightly above the % for employer matching. Then they offerred a...

Deflation Is Here Graham Summers September 12, 2011 I’ve been warning that the markets were on the verge of another round of Deflation. By the looks of things, it’s here with the US Dollar breaking out of its massive wedge pattern. The ultimate target for this pattern is the mid-80s. So consider this latest breakout the first leg up of a much larger move that will affect all other asset classes in a big way. In order for a move of that caliber to occur in the US Dollar, we’ll need to see a full-scale crisis hit the markets (the...

Futures were lower Friday, after President Barack Obama introduced a $447 billion plan to boost jobs on Thursday but did little to reassure concerns about the tepid economic growth. The jobs plan "will provide a jolt to an economy that has stalled and give companies confidence that if they invest and hire, there will be customers for their products and services," Obama said in an address to Congress Thursday evening. However, the bill's chances of passing Congress are uncertain. Republicans control the House and many of them oppose any new spending. The program is a credible attempt to address structural...

U.S. stocks are sharply lower in early trading. The Dow Jones industrial average dropped more than 260 points. All 30 stocks that make up the Dow average fell. The losses come after steep declines in European indexes. The Stoxx 600 Europe index fell 4.1 percent on Monday because of concerns that Europe's debt problems could slow growth around the world. The index fell another 1.4 percent Tuesday. The U.S. economy is also weak. A Tuesday report on the U.S. service sector is expected to show the fourth straight month of declining growth. It follows a jobs report Friday that that...

American Banker’s Kate Berry has a fantastic piece of reporting today, under the headline “Robo-Signing Redux: Servicers Still Fabricating Foreclosure Documents”. Among her discoveries is this document, dated August 3, 2011, wherein Tonya Hopkins signed over a mortgage in her capacity as Assistant Secretary of Sand Canyon Corporation. The problem with this? Sand Canyon hasn’t been in the mortgage business since 2009, and Tonya Hopkins doesn’t work for Sand Canyon: she works for American Home Mortgage Servicing Inc.

Market crash 'could hit within weeks', warn bankers A more severe crash than the one triggered by the collapse of Lehman Brothers could be on the way, according to alarm signals in the credit markets. The cost of insuring RBS bonds is now higher than before the taxpayer was forced to step in and rescue the bank in October 2008 By Harry Wilson, and Philip Aldrick 9:50PM BST 24 Aug 2011 Insurance on the debt of several major European banks has now hit historic levels, higher even than those recorded during financial crisis caused by the US financial group's implosion...

Gold and US Treasurys trading together illustrate the point that the BIG money has not begun to move and is still parking. Corporations are at record highs with over $2 trillion in cash holdings also parking in Treasurys fearful of investing with the future so uncertain. Those who try to predict the future with fundamentals get their head handed to them without exception because they become fixated largely on a couple of issues that are more often than not too domestic. Lacking worldly experience, they become just deer in headlights. A closing tomorrow on the Dow BELOW 10906 will warn...

NEW YORK -- Turmoil returned to U.S. stock markets at Thursday's open as renewed concerns about the global economy sent major indexes plunging and pushed gold to a new record high. Investors were working through bad news on various fronts, including a dismal forecast from Morgan Stanley for global economic growth, and two U.S. government-issued reports on inflation and the job market.

DOW 10903.70 -506.51 -4.44% S&P 500 1137.74 -56.15 -4.7%

Fears of a global banking crisis swept across markets, driving stocks sharply lower, Treasury yields to record lows, and gold to record highs. The dramatic reflex to run for safety also propped up the U.S. dollar, which was stronger against a whole group of currencies. The yield on the U.S. 10-year note fell below the psychologically key 2 percent level temporarily, a level it has not seen since possibly the Eisenhower era. The Dow tumbled more than 500 points at the day's lows, and the industrial and commodities stocks that rely on global growth fell the hardest. Like an out-of-control...

BAGHDAD -Twin explosions ripped through a crowded Iraqi market in a city southeast of Baghdad, killing 34 people and shattering what had been a relatively peaceful holy month of Ramadan. The blasts in Kut, 100 miles (160 kilometers) southeast of Baghdad, went off as construction workers were gathered in a market selling generators and other appliances. Police spokesman Lt. Col. Dhurgam Mohammed Hassan said the first bomb went off in a freezer used to keep drinks cold. Then as rescuers and onlookers gathered, a parked car bomb exploded. The top medical official in the province where Kut is located, Diaa...

The U.S. dollar may weaken and Treasury yields rise when Asian markets reopen on Monday, though any selling in response to ratings agency S&P's downgrade of the United States is likely to be tempered by the escalating crisis in the euro zone. The S&P cut in the U.S. long-term credit rating by a notch to AA-plus is an unprecedented blow and results from concerns about the nation's budget deficits and climbing debt burden. It called the outlook "negative," signaling another downgrade is possible in the next 12 to 18 months. "The initial reaction will be a high degree of uncertainty...

After a number of fake Apple retail stores in China gained publicity online, Apple appears to have taken legal action, undoubtedly looking to shut down the counterfeit locations designed to look like its own operations. Apple has gone on the offensive against a number of defendants, including 50 John Does and unnamed businesses, in a new trademark infringement suit. The lawsuit filed in U.S. District Court in the Eastern District of New York remains under a court seal, so the specifics of the complaint are not known. However, one of the defendants in the case is "Apple Story Inc.," matching...

Well, it's deja vu all over again. But there are also several very important differences between this market crash and the ones a few years ago: The Fed has fired most of its bullets (interest rates are already at zero) Our budget deficit is already out of control, and Congress has had it with "stimulus" The public has had it with bailouts That means the government's ability to do anything about this market crash is severely limited. Yes, we'll almost certainly have a "QE3." And maybe that will prop things up a bit. But it won't fix the fundamental problems...

Stayin’ Alive: Dow just misses ’78 losing streakPAUL WISEMAN, AP Economics Writer Thursday, August 4, 2011 Not since the Bee Gees and their “Saturday Night Fever” soundtrack dominated the radio has the Dow Jones industrial average endured a longer losing streak. The Dow blipped up 30 points Wednesday, ending a string of down days at eight. Until the last few minutes of trading, it looked as if stocks might match a nine-day losing streak that ended on Feb. 22, 1978. Weighing on stocks 33 years ago: A stalemate in Congress. A weakening economy. Fears about the global financial system. Sound...

Of course, that is very unfair to Geithner, but there’s a kernel of truth to it. It’s not simply that the U.S. economy is in danger of falling back into recession (on cue — “we never left it”), or that the euro-zone debt situation threatens to spiral out of control. It’s that there is a lack of confidence globally that these problems can be addressed by policy makers. If there’s anything that the debt-ceiling debate demonstrated, it’s that current politics don’t allow for stimulus, whether that’s new spending the White House prefers or the tax breaks Republicans favor. Even relatively...

oogle Android captured 48% of the smartphone market in Q2 of 2011, hitting an all-time high, according to a report by market research firm Canalys. The platform has been making big strides during the past year, overtaking Symbian in Q4 of 2010 to become the top smartphone platform, representing a 32.9% market share at that time. Smartphone adoption continues to grow rapidly across the world, reaching a total of 107.7 million units shipped in Q2 of 2011, a 73% year-on-year growth. Android was the biggest driver of smartphone shipments in Q2, as Android-based smartphone shipments were up 379% year-over-year, coming...

To see what the market thinks of the economic prospects for the economy look no farther than the 30 Year which just dropped below 4.00% and is trading at 3.99% right now. The market is effectively pricing in a major economic contraction, with long-end deflation now expected. Which means that Bernanke just got yet another carte blanche to proceed with the only thing he know. And validating it is the equity market which at last check not only did not react favorably to the Senate vote, but has been fading all the news all day, and is now trading at...

And we have a Federal Government providing $1,700 billion - 12% of GDP - in false economic demand that does not actually exist! The alarm clock is ringing right now. ... there will be a crash.

The "most-recent" proposals cut anywhere from nothing in actual spending (Democrat proposal) for 2012 to $90 billion (Republican.) And neither contains any actual cuts on a forward basis - the Republicans are at least honest about it and say they just "hold discretionary non-defense spending at 2011 levels." That's not a cut in spending.

Cuba to lift ban on home and auto sales In a move aimed at jump-starting its economy, Cuba says it intends to lift a ban on sales and purchases of homes and cars as early as the end of this year. The Cuban Communist Party newspaper Granma reported the new policy on Friday. The Caribbean socialist country has basically banned sales and purchases of homes and vehicles since the 1959 revolution. Currently, Cubans are allowed to own one dwelling per person. Under the new policy, they will be allowed to sell the building. The newspaper says that a ban on...

On the Trail Columnist John Fund analyzes the impact of today's downbeat economic news on the President's re-election chances(Video at link).

Deepening Economic Crisis: Inflation, Rising Interest Rates, Surge In The Price Of Gold And Silver Economics / Inflation Apr 24, 2011 - 12:43 PM By: Bob Chapman Economic recovery does not seem to be taking effect in spite of more massive expenditures by Congress and the Fed. The IMF says financial stability has improved, but then again their vision is almost always clouded. US tax revenues are not increasing in a meaningful way, manufacturing struggles to expand and Wall Street flourishes in a cascade of mega salaries and bonuses. In another six months the US will be three years what...

End of Fed Easing Will Create Summer 'Swoon': Wien Published: Wednesday, 13 Apr 2011 | 9:39 AM ET By: Jeff Cox CNBC.com Staff Writer Stocks could face a rough summer after the Federal Reserve ends its multi-trillion-dollar easing program in June, investment pro Byron Wien told CNBC. Though he is sticking with an otherwise-bullish forecast for the year, Wien said the June expiration of the central bank's Treasury-buying program—often referred to as quantitative easing—likely will trigger a rough patch. "It's hard for me to assess how much of the big move in stocks since the end of last summer was...

NEW YORK—While Federal Reserve officials openly feud over the right time to begin tightening monetary policy, Treasury investors are starting to lean with the hawks. U.S. Treasurys last week endured their longest losing streak in more than two decades—nine consecutive days—and ended the worst quarter since late 2009 as U.S. government bondholders brace for the end of "quantitative easing" and a sooner-than-expected interest-rate increase. The yield on the two-year note, which is traditionally the most sensitive to shifting monetary-policy outlooks, touched 0.901% on Friday, the highest level since May 10, before trading at 0.805% late in the day.

Wonder why Barnes and Noble (BKS) stock is going up. It sure fell a long ways earlier this year. So, why would it suddenly go up without any news? Man, the stock market is crazy.

. . . . .NOTE:  This post will be constantly updated with more details throughout the Glenn Beck radio program.  Glenn has announced that copies of this have been delivered to JP Morgan Chase, the FBI, and the Justice Department.[youtube=http://www.youtube.com/watch?v=RvlvejSxBVQ&feature=player_embedded] "Steven Lerner, reported to have visited the White House on at least four separate occasions, formerly of SEIU and the architect of the SEIU's groundbreaking Justice for Janitors campaign.  He led the union's banking and finance campaign and has partnered with unions and groups in Europe, South American and elsewhere in campaigns to hold financial institutions accountable. As director of...

FULL Title - Former SEIU Official Reveals Secret Plan To Destroy JP Morgan, Crash The Stock Market, And Redistribute Wealth In America A former official of one of the country's most-powerful unions, SEIU, is detailing a secret plan to "destabilize" the country. Specifically, the plan seeks to destroy JP Morgan, nuke the stock market, and weaken Wall Street's grip on power, thus creating the conditions necessary for a redistribution of wealth and a change in government. The former SEIU official, Stephen Lerner, spoke in a closed session at a Pace University forum last weekend.

A night on the job for two downtown gas station workers became violent when two men walked in, guns in hand. A wild shootout unfolded on camera, inside the very close quarters of the Lewis Street Market in Nashville. No one was shot, but you'll be amazed that it didn't end in tragedy. On Wednesday, store owner Kamil Alakabi described what happened. “I was right here when I grabbed my gun. They stayed on the other side, and I shot them on this side,” said Alakabi. What Alakabi is talking about can be seen in the surveillance video captured from...

The world’s largest commodities trading firm, Glencore International, which was founded by Marc Rich (He is no longer affiliated), is considering a massive IPO. CNBC's Kate Kelly is reporting that Glencore is signaling to bankers that it expects to issue at least $7 billion in stock as part of an initial public offering to launch as early as April. Glencore is a heavy trader in oil, gas, wheat, corn, aluminum, nickel, and just about every other raw commodity you can think of. These guys are as shrewd as you can get. If they want to go public at this point,...

Hey Freepers, On the subject of free trade, unions and patriotism. Earlier this morning I was thinking about the goings on in Wisconsin, and about a purchase I wanted to make later today, and I started thinking. All my life I have been told to buy things "Made in America." I have done so as much as was possible, and buy locally, if I can, but I was recently thinking about the union goings on in Wisconsin. I have been spending money on "American" tools, vehicles, clothing, foods, etc. as much as I can find, but I recently have though,...

From Morgan Stanley, a look at momentum in the commercial property market. Property Market Momentum Snapshot

Byproducts of ethanol production are fed to animals and ultimate pose a health risk to people. The government ignores it. Producing and burning Ethanol releases A LOT of carbon dioxide. The government ignores it. Cattle Fed Byproducts Of Ethanol Production Harbor Dangerous E. Coli Bacteria http://www.sciencedaily.com/releases/2007/12/071204091851.htm“But recent research at Kansas State University has found that cattle fed distiller's grain have an increased prevalence of E. coli 0157 in their hindgut. This particular type of E. coli is present in healthy cattle but poses a health risk to humans, who can acquire it through undercooked meat, raw dairy products and produce...

Federal Reserve Board Chairman Ben Bernanke said Thursday that a controversial $600 billion bond buying plan has contributed to a stronger stock market. "Our policies have contributed to a stronger stock market just as they did in March 2009 when we did the first iteration of this program," Bernanke said at a Federal Deposit Insurance Corp. forum on small businesses. "A stronger economy helps small businesses more than larger businesses. Interest rates are higher but that's mostly because the news is better. It has responded to a stronger economy and better expectations." The $600 billion bond buying plan follows a...