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Politics Barack Obama

  • President Barack Obama

    Bad enough that he bashes Wall Street, but this President has gone farther than any in modern history in putting the wrong kind of “bully” back into the pulpit.

  • Bank defaults have begun to slow and will probably peak toward the end of this year, FDIC chairman Sheila Bair told CNBC Friday.

  • Wall Street and Main Street continue to fight the rally, but the commentary continues to improve. And that is what matters. 1) all the major indices are at new highs; the Dow is up 8 weeks in a row, it's longest weekly win streak since 2004. 2) Dow Transports at new highs this week on strong earnings from railroads.space, has become much more upbeat in recent weeks

  • Government Regulation

    As the Obama Posse rides headlong into financial reform, hellbent on putting new restraints on Wall Street, we are about to enter a cowardly new world.

  • At the annual dinner of the Securities Traders Association of New York (STANY) last night, the two main topics were: 1) why business is so awful, and 2) why the market does not go down. Like I've been saying: this is the most unloved rally of modern times...

  • While this is a heavy duty inside-the-beltway item, it has everything to do with whether the US government will be able to continue to prop up zombie institutions or pick winners and losers in the private sector.

  • For everyone who thinks Greece is not a factor in the market's weakness today, consider this: U.S. stocks rallied about 1pm ET as the EU's Olli Rehn, European Commissioner for Economic and Monetary Affairs, said Greece was a special case—and that Spain, Portugal and Italy would avoid a debt crisis. Why Greece again?

  • Government Regulation

    The Volcker rule, a potential piece of financial reform legislation, could be “unilaterally disarming” to the growth of US institutions because the law would put them at a competitive disadvantage, a leading analyst told CNBC Thursday.

  • James S. Chanos

    A seasoned hedge fund manager told CNBC Thursday that he expects to see more actions like those of the securities-fraud charges against Goldman Sachs.

  • Considering the President just scolded the Street for pushing the nation into recession, why are financials inching higher?

  • Greece, the story stock traders love to hate, is getting a lot of attention today. The talk is now changing from "the IMF is going to get involved" to "a restructuring is looking increasingly likely for bondholders."

  • President Obama will be urging the Congress on Thursday not to let the chance for an overhaul of Wall Street regulations slip away. What does this mean for financial stocks? Kevin Caron, market strategist at Stifel Nicolaus, shared his insights.

  • capitol_building_new.jpg

    The government’s case against Goldman Sachs is about to get its first public airing, in what could be a gripping preview of the legal battle to come. The New York Times explains.

  • The 2 year Greek bond is over 11 percent; seems like IMF bailout is inevitable. Stocks in Greece are down 3 percent; Portugal and Spain are down 3 percent. The U.S. dollar is stronger, commodities are lower. Qualcomm and eBay are both down nearly 10 percent. Then there's the IPOs...

  • President Barack Obama

    President Barack Obama told CNBC Wednesday that there was no connection between the White House’s push for financial reform on Wall Street and the civil fraud charges filed against Goldman Sachs spacer on Friday.

  • Dow loses a bit of steam midday due to financials. The Dow has lost about 50 points in the past half hour (as of this writing) due to weakness in its financial components. This is likely due to concern that regulatory reform is looking increasingly real.

  • Volume is big in regional bank names as all are hitting new highs: can you say "short squeeze?" Why? I've told you about the key trends, which all banks are now reporting: 1) improving credit trends and 2) net interest margin (the spread between borrowing short from depositors and lending long to borrowers) improved last quarter. Also...

  • supreme_court_building.jpg

    President Barack Obama said Wednesday that he will not insist that his Supreme Court nominee pass any "litmus tests" in supporting a woman's right to have an abortion, but made clear he'll choose a candidate who will consider personal privacy and women's rights.

  • Traders note it's another Macro vs. Micro day ... the juggernaut of strong earnings, especially Apple and the banks versus Greece. As the EU/IMF start negotiations with Greece, the 10 year Greek bond yields are at 8.3 percent, blowing out another roughly 40 basis points.

  • After the close, Apple reported earnings and sales well above expectations: $3.33 per share (consensus was $2.45) on topline of $13.5 billion (consensus $12 billion). Guidance of $2.28 to $2.39 is well below expectations of $2.45 — that conservative guidance is typical of Apple.