Carlyle has raised $698 million for its dedicated Africa fund, nearly $200 million above its initial target.» Read More
Peter Wallison more or less demolishes the conventional wisdom —and now the official Federal Crisis Inquiry Commission view—when it comes to the collapse of Fannie Mae and Freddie Mac.
Over at Barry Ritholtz’s “The Big Picture,” Bill Black has been publishing a series of posts on how mortgage lending should be regulated. Black, who is the author of “The Best Way to Rob A Bank Is to Own One,” does an admirable job at pointing out how pervasive fraud arises and undermines market discipline.
Unfortunately, his proposals for changing the mortgage lending system to counter fraud just won’t work.
Wall Street pretty much shrugged off the blizzard.
If you set your alarm an hour early, put on a pair of gloves—and sucked up the pain—you probably made it in to work just fine. That seems to be the consensus opinion of those who didn't use the weather as an excuse to sleep in an extra hour.
When I asked BlackRock if they had any special operating procedures in place, due to the storm, a spokesperson said: "Nope: We're here!"
The Senate Energy and Natural Resources Committee kicked off their first hearing of the new Congress with one of the most controversial topics in the energy sphere: the safety of deep water drilling. The committee examined the report and recommendations issued by the National Commission on the BP Deepwater Horizon Oil Spill and Offshore Drilling.
I decided to sit down and speak with Gary Luquette, President of Chevron's North America ExplorationandProduction , on his thoughts on the hearing and the impact the unofficial moratorium is having on the industry.
Sean Parker, Founders Fund LLC CEO and early Facebook investor, stops long enough to tell CNBC he doesn't have time to talk.
Jobless Numbers Worse Than Expected — Snow Blamed [Reuters via CNBC] "New U.S. claims for unemployment benefits rose more than expected last week as harsh weather conditions in some parts of the country kept workers at home and caused a backlog in the processing of claims, a government report showed on Thursday. Initial claims for state unemployment benefits jumped 51,000 to a seasonally adjusted 454,000, the highest since late October, the Labor Department said. That was the largest weekly increase since September 2005. Economists polled by Reuters had expected claims to be little changed at 405,000."
NY Metro Area Slammed by Another Monster Storm [NY Post] The Big Apple was brought to a virtual halt early this morning by another monster storm — this one not only shutting area airports, but also closing city public schools and non-emergency government offices, as well as forcing the suspension of all buses citywide.
Economy Not Improving Enough to End QE2 [CNBC] "The Federal Reserve gave a lukewarm economic assessment on Wednesday despite recent signs the recovery was strengthening, saying high unemployment still justified its $600 billion bond-buying program. In a statement following its policy-setting meeting, the central bank also said measures of underlying inflation were "somewhat low" although it acknowledged rising commodity prices that have fueled global inflation worries."
Treasuries Dip as QE2 Sticks Around [Bloomberg] "Treasuries declined as Federal Reserve policy makers maintained a $600 billion program of debt purchases while saying the economic expansion is continuing at an insufficient pace to reduce unemployment. Government securities dropped earlier after a report showed sales of new homes rose more than forecast in December and the U.S. sold $35 billion of five-year notes. Ten-year Treasury Inflation-Protected Securities show bondholders expect the consumer price index to increase 2.26 percentage points a year on average over the life of the debt, compared with a forecast for an increase of 1.7 percent this year by economists surveyed by Bloomberg News."
Everyone's buzzing about HFTs having a speed advantage but this NYU professor and former HFT trader says not so fast — there's more.
Ex-Galleon trader Turney Duff offers an insider's view of how learned about Wall Street's dirty little secret: insider trading.
Fed speak may trump earnings reports and economic data, guaranteeing another volatile trading day.