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Politics Barack Obama

  • 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.

  • capitol_building_wallstreet_200.jpg

    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.

  • Speculation is over, a large utility deal gives a boost the U.S. M&A activity.

  • Sen. Max Baucus

    The financial regulation bill before the Senate has the potential to do a lot of good. But it also has at least one major flaw: it would not do enough to prevent taxpayers from paying the bill for a future crisis.

  • The 2-year Greek bond passed a 23 percent yield, which must surely be some kind of selling climax. National Bank of Greece (NBG) is up 10 percent. Meantime, the Greeks are boldly going to the heart of the problem: they have banned short selling of stocks for the next two months.

  • After testifying at the Senate hearing, Lloyd Blankfein talked with CNBC.

  • Many questions were raised as the head of Goldman was grilled on the Hill.

  • For the second day in a row, we end at the lows for the day. Volume heavy, 6.5 billion shares on the NYSE consolidated tape, but again watch Citigroup  — at 1.3 billion shares, it is 20 percent of total volume! Then there's Goldman...

  • The S&P 500 has stabilized after Europe closed at 11:30am ET. Two important points about today's trading: First, The CBOE Volatility Index (VIX) was up as much as 20 percent today, its biggest one-day jump in several weeks, to the highest levels since February. And second..?

  • The point was made, yet again, that the lack of regulation played a pivotal role to the bad actions in this and other markets.