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Politics Barack Obama

  • Fire boats battle a fire at the off shore oil rig Deepwater Horizon April 21, 2010 in the Gulf of Mexico off the coast of Louisiana.

    As the fallout continues from last week's devastating oil spill in the Gulf of Mexico, fresh uncertainty is emerging over the future of offshore drilling in the United States.

  • Spills, investigations, and reputational risk: Several companies in 3 different areas (energy, financials and coal) are experiencing problems Friday.

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    Real GDP increased about $162 billion since the second quarter of 2009, when the economy bottomed out. Wall Street for 2009 paid out bonuses of nearly $150 billion on profits twice that amount. The rest of the economy, on balance, went backwards.

  • John Alfred Paulson, president of Paulson & Co., Inc.

    Just how dumb can you be? The guys that took the other side of the Fabulous Fab-concocted CDO-Squared whatever it was weren't stupid because they bet wrong on the housing market.

  • United States Federal Reserve

    President Obama has appointed three new doves to the Federal Reserve Board, thereby taking command of the nation’s central bank.

  • Europe about flat this morning, strong belief that a package for Europe will be announced Sunday or Monday

  • Goldman Sachs

    Federal prosecutors have opened an investigation into trading at Goldman Sachs, raising the possibility of criminal charges against the Wall Street giant, The New York Times reports.

  • A terrific day, with 3 stocks advancing for every 1 declining, volume moderate, as we again approach the highs for the year. It's been a fairly broad advance, with particularly strength in financials and cyclicals like consumer discretionary and industrials.

  • On the heels of the Napolitano press conference, in which the Homeland Secretary said the Deepwater Horizon spill in the Gulf of Mexico was of "national significance," energy stocks have come off their highs, and several are in negative territory.

  • Federal Reserve

    Heard the one about the two economists and a lawyer? But, maybe the more apt question is, heard the one about three doves, or about two doves and a sometimes hawk?

  • After three entire days, the Republicans finally relented Wednesday after reducing bailout language in the current Dodd bill, but the debate and amendment process is just beginning.

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    Every now and then an idea takes hold that is, conceptually, so elegant and alluring as to be nearly irresistible. Resolution authority – like the call of the Sirens – has enchanted every US official who was in a decision-making capacity during the financial crisis.

  • Recovery sign

    Right now investors face a V-shaped-recovery theme at home and the serious debt troubles plaguing Greece, Spain, Portugal, and perhaps other countries in Europe.

  • Europe is up, as are U.S. stocks, on hope that the EU will complete talks with Greece on a financial aid package that could be announced this weekend.

  • Wall Street

    As Congress prepares to debate financial reform legislation, lawmakers are keeping their distance from Goldman Sachs and its well-connected lobbyists, the New York Times reports.

  • Dividend increases keep coming. ExxonMobil the latest, this time increasing their annual dividend to $1.76 from $1.68. According to Standard & Poor's, 98 companies in the S&P 500 (20 percent!) have increased, with 2 decreasing.

  • President Barack Obama on Thursday will nominate San Francisco Fed President Janet Yellen, Massachusetts Institute of Technology economist Peter Diamond, and Maryland state banking regulator Sarah Bloom Raskin for seats on the central bank's board, CNBC confirmed Wednesday.

  • No surprises from the Fed — that's putting it mildly. Worries about Greece, and maybe the economy, seems to have neutered the Fed completely. Yes, no change in the "exceptionally low levels of the federal funds rate for an extended period" phrase, but we knew that. Nothing on selling their stash of mortgage-backed securities (MBS) or agency debt, nothing on increasing the rate they pay on reserves. But the biggest disappointment..?

  • S&P cuts debt of Spain. And traders are already speculating that, since rating agencies tend to move in bunches, Ireland could be next for a downgrade. Here's what an Irish paper, the Independent, had to say about the state of finances in Ireland a few days ago.

  • The complex world of collateralized debt obligations was one that had no regulation. They were unrestricted securities being sold to sophisticated investors.