Regulators indicated they'd gotten to the bottom of the "flash crash." Many on Wall Street, though, believe the work is only starting.» Read More
Pressure is building for the US to take action in Libya.
The Arab League formally proposed that the UN authorize the creation of a no-fly zone. France and Britain have drafted a resolution authorizing the no fly zone. The matter is being debated among UN Security Council members . France and Britain are trying to forge an agreement on a no-fly zone among G-8 members at a meeting in Paris. Russia has softened its stance—saying it wants more information on the Arab League proposal .
Cov lite Loans—loans without the usual protective covenants to safeguard lenders—are making a major comeback. Ominously, this uptick in cov-lite loan issuance coincides with a Moody's research note, which I wrote about on Friday, that suggests grim prospects ahead for future defaults in cov-lite.
An anonymous website associated with activists from Operation LeakS released a cache of emails accusing Bank of America of "fraud" in handling its mortgage files.
Despite pressure from federal prosecutors overseeing the case against Raj Rajaratnam, the Securities and Exchange Commission pushed ahead with its insider trading case against Rajat Gupta because of his status as a sitting board member on public companies.
The 21st Century world is fragmenting at an alarming pace—economically and politically—and the old models of understanding global dynamics are struggling to keep up with the breakneck speed of change.
The yen has been trading violently against major and minor crosses, which, of course, is to be expected. But, what’s unexpected to some is the subsequent dollar weakness.
Hacker group 'Anonymous' releases Bank of America documents [The Telegraph]
"History Shows Rebuilding Spurs the Economy" [CNBC.com via Financial Times]
The deal that made Bill Gates $350 million at age 30 [CNN Money via Fortune]Um...don't you mean Massachusetts?
Congresswoman misfires about 'the shot heard around the world'
[The Boston Globe]
Stop talking to yourself and feeling old. I know rainy days and Mondays get you down, but I'm here to help you feel like you belong, at least with me and the other graveyard runners:
Fairfax Financial's lawsuit against hedge fund manager Daniel Loeb has just gotten uglier.
Loeb, who runs the New York based hedge fund Third Point, is being sued by the Canadian insurance company, over allegations that Loeb misled his investors over the amount of research he did before shorting their stock.
Despite earnings, investors cannot help but notice the continuing impact of the strong dollar on tech revenues.
In a first for a U.S. stock exchange, Nasdaq OMX Group on Thursday agreed to pay $26.5 million to settle a lawsuit involving its bungling of Facebook's IPO.
Many pros scoffed at the notion that Navinder Sarao was the sole culprit of the spectacular plunge on May 6, 2010.