Queen Elizabeth II in Surrey. Facebook Is Only Worth $18 P, FB, GRPN - TheStreet TV. Money Game. To Make Money In This Bubble-and-Bust World, You MUST Be A Contrarian (NYSEARCA:TZA, NYSEARCA:FAS, NYSEARCA:FAZ, NYSEARCA:SKF, NYSEARCA:XLF. Bloomberg's Jonathan Weil Totally Shreds Vikram Pandit And The Davos Forum. Where Blankfein came from. In this book excerpt from MONEY AND POWER: How Goldman Sachs Came to Rule the World, author William D.
Cohan examines Lloyd Blankfein's up-from-nothing story, and finds out why Hank Paulson would've rather had no one else as Goldman Sachs's CEO. JPMorgan Gets Best Bond Rates as Dimon Extends Maturity: Corporate Finance. JPMorgan Chase & Co.
(JPM), deemed by derivatives traders to be the most creditworthy of the six biggest U.S. banks, locked in the lowest interest rate its industry has seen since 2005 on 30-year debt. The biggest U.S. bank by assets sold $1.25 billion of 5.4 percent debentures yesterday to yield 250 basis points, or 2.5 percentage points, more than similar-maturity Treasuries, according to data compiled by Bloomberg. Goldman Sachs Group Inc., the only other U.S. -based bank to have issued 30-year debt in 2011, sold $2.5 billion of 6.25 percent bonds at a 170 basis- point spread on Jan. 21. JPMorgan is pushing out the maturities of its debt as yields on investment-grade corporate bonds due in 15 years or more approach the lowest on record while the Federal Reserve holds down interest rates to stimulate the economy. The MF Global Investigation Has Boiled Down To Just One Question. Reuters is reporting that the Commodity Futures Trading Commission, which has been investigating MF Global following the bankruptcy and the customer funds shortfall, actually knows where the MF Global money went.
CFTC Commissioner Jill Sommers, who has been in charge of the MF Global inquiry, said that they now have a record of all transactions that were made in MF Global's last days—the only question that remains to be answered is if those transfers were legal or not. The question of legality is a contentious issue that has already been brought up before, as people explore the possible chance that there may be regulatory loopholes which allowed MF Global to do what it did (rehypothecation, anyone?). And just yesterday, when CME Group CEO Terrence Duffy said he was informed Corzine knew about a transfer of $175 million of customer funds in MF Global's last days, DealBook pointed out that the transfer may have been legal.
Euro and stocks fall as sovereign debt meltdown closer to realisation « ArabianMoney. Posted on 15 December 2011 with 1 comment from readers The euro dipped below $1.30 yesterday but still has a long way to fall to its launch exchange rate of 85 cents to the dollar.
But it could get there an awful lot faster than most analysts think possible. Welcome to the eurozone sovereign debt meltdown scenario which has been discussed so much over the past two years that anybody could be forgiven for believing this is some kind of hysterical fantasy rather than a fast approaching reality. Logic of events As ArabianMoney has pointed out before those in denial are like the US stock market investors who failed to price-in the First World War until two months before it happened.
The failure of European Union leaders last week to agree on anything approaching a credible solution to the immediate problem of the loss of confidence in the banking system and the single currency means that there is nothing to prevent the worst happening and so it will happen. Run on the banks. The 'Squidding' of Goldman Sachs - NewsTrust.net. Taibbi writes: "In all seriousness, I commend these protesters and hope no harm came of those arrests.
Goldman continues to be a natural and appropriate target of protester anger and if OWS actions continue to mock the bank and make sport of them, it might help the public learn more about how these state-dependent banks operate and why they need to be reined in, if not broken up altogether. " By Matt Taibbi, Rolling Stone 13 December 11. The President: Dennis Kucinich on $7.77 Trillion Secret Loan by Federal Reserve. Congressman Dennis Kucinich sharply criticized the Federal Reserve today after Bloomberg news reported that the Federal Reserve secretly committed nearly $8 trillion in support to American and international financial institutions during the 2008 bailout.
Are Dollars Citizens? : NO QUARTER. Sen. Bernie Sanders: Money plays ‘horrendous role’ in Congress. By Eric W.
DolanMonday, December 12, 2011 20:46 EDT. $29 TRILLION WALL STREET BAILOUT. Author: L. Randall Wray · December 9th, 2011 · Since the global financial crisis began in 2007, Chairman Bernanke has striven to save Wall Street’s biggest banks while concealing his actions from Congress by a thick veil of secrecy.
U.K. October Manufacturing Output Drops More Than Forecast on Euro Crisis. U.K. manufacturing output fell more than economists forecast in October as the intensifying euro- area debt crisis undermined demand in Britain’s biggest export market.
Factory output dropped 0.7 percent from September, the biggest decline since April, the Office for National Statistics said today in London. The median forecast of 21 economists in a Bloomberg News survey was a decline of 0.3 percent. On the year, manufacturing rose 0.3 percent, the least since January 2010. Manufacturers are suffering as the sovereign debt crisis and a cooling global economy jeopardize the outlook for exports. As the risks from Europe increase, some Bank of England policy makers have said the economy will probably need more stimulus. LAYOFFS WATCH: Citigroup Axes 4,500 Jobs. Tim Geithner - Blackboard. Revolving-door between DOE, subsidized company. Revolving Door Newsletter: 11.11.11 - mediabistro.com Content. November 11, 2011 CBS wants to fight flagging ratings with hard news.
The Early Show remake will includeCharlie Rose, Gayle King and a whole lot of headlines as the Eye attempts to catch up to Today and Good Morning America. Revolving door still a problem in New Mexico politics. By Milan Simonich firstname.lastname@example.org Updated: 11/13/2011 08:28:05 PM MST0 comments SANTA FE — An unpaid state legislator in New Mexico can turn into a well-paid lobbyist overnight.
Kent Cravens was the latest to make such a move, resigning from his Senate seat this fall to become a lobbyist for the New Mexico Oil & Gas Association. Cravens, a Republican from Albuquerque, broke no law or rule, but by immediately becoming a lobbyist he defied what the top elected official of his own party considers proper. Three weeks after she took office this year, Gov. The Postal Service Plots Its Own Demise. Share. Here's The Central Bank Conspiracy Theory That Art Cashin Just Explained On CNBC. EDIT NOTE: We published this earlier, but seeing as Art Cashin was just on CNBC talking about this, we wanted to resurface it.
Why did the world's central banks coordinate to lower the cost of dollar funding last week? There were several people who speculated that it was something specific which caused them to act, rather than merely a move to address generally tight conditions. UBS floor guy Art Cashin has the latest Wall Street buzz. Says Cashin: It all comes back to US money market funds. A Possible Trigger For The “Swap Rescue” - There is a new theory circulating in Wall Street watering holes about what may have caused the Fed and other central banks to suddenly unite in cutting the cost of dollars in Europe. This Chart Shows Eurozone Downgrades Are Long Overdue. Yesterday, S&P went on a rampage and put 15 of 17 euro-zone countries on negative credit watch. REPORT: S&P WILL PUT ALL 17 EUROZONE COUNTRIES ON CREDIT WATCH NEGATIVE. We've Just Witnessed A Major Turning Point In The Euro Crisis. Standard & Poor's decision to put 15 eurozone countries on downgrade watch threatens the fabric of programs that are meant to salvage the euro, in particular the European Financial Stability Facility (the euro rescue fund).
Professor Richard D. Wolff. Richard D. Wolff. Maxine Waters in line to take over from Frank on Financial Services. Egypt uses U.S. teargas on pro-democracy crowds. CAIRO–Late Saturday evening the air here was heavy with suffocating smoke as Egyptian security personnel battled street protesters for control of Tahrir Square. Jamestown Jobs (PA) Supercommittee slows to a standstill. APEC members pledge to liberalise green trade - APEC summit.
Goldman commods risk tumbles on tough markets.
Greece. Friday Market Follies - Following Murdoch's Money. A statement was issued by Merkel and Sarkozy yesterday. As translated by the Financial Times, it read (emphasis mine): The President and German Chancellor spoke today by telephone to prepare the European dates in the coming days.The President and the Chancellor have agreed to provide a comprehensive and ambitious global response to the current crisis in the euro area. This response will include the following: - The operational implementation of new forms of intervention EFSF.- A plan to strengthen the capital of European banks.- The implementation of the economic governance of the euro area and the strengthening of economic integration.