Friday, 25 Sep 2009 | Source: The Associated Press
U.S. commercial banks earned $5.2 billion trading derivatives in the second quarter, as the level of risk eased in the global market for the complex financial instruments, according to a government report released Friday.
The financial reform should include some way of separating banks' proprietary trading from commercial banking, although a return to regulation similar to the Glass-Steagall Act would be impractical, legendary investor George Soros wrote in the Financial Times.
While at this time I don't expect a regulation bill to be ready for the President to sign this year, I believe it is likely there will be one ready before the mid-term 2010 elections next year... Read More
Berkshire Hathaway isn't happy with a Reuters story initially published with the headline, "Buffett's Berkshire: We Goofed On Derivative Risks."... Read More
Warren Buffett's Berkshire Hathaway reports $1.532 billion in derivatives gains during its second quarter, contributing to an overall net profit of $3.295 billion dollars for the quarter, or $2,123 per class A share.... Read More