Wall Street banks may appear to be offering higher salaries to junior employees, but the increase may not be as generous as it looks.» Read More
As expected, House Republicans passed a bill to repeal President Obama’s health care plan by a vote of 245 to 189. Republicans say this vote was a mandate of the American voter.
The bill now goes to the Senate but Majority Leader Harry Reid (D-Nev.) has promised that any attempt to roll back the law would be blocked. The topic of health care is one that not only polarizes politics, but Americans as well.
I decided to speak with Representative John Kline, \(R-MN\) Chairman of the Education and the Workforce Committee. This committee shares jurisdiction over health care reform specifically the employer-sponsored health care plans that cover approximately 170 million Americans. Cost and uncertainty surrounding the bill dominated our conversation.
The inalienable right of the “pursuit of happiness” is becoming tougher for most Americans with each passing day. America is no longer the happy country it wants to be.
A Forbes poll has us barely making the top 10 percent when it comes to happiness, in spite of our still dominating prowess on other major indicators. Have we become an unhappy nation, contrary to the ideals we were founded upon? Perhaps. But, it's much more serious than that.
Going through one of the worst economic sagas in US history has thrown the country into two types of depressed states: a financial one and a psychological one.
Morgan Stanley Beats [CNBC] "Morgan Stanley posted a solid quarterly profit that beat analyst expectations both for revenue and bottom-line, sending shares higher in premarket trading. The Wall Street titan, which had been trampled during the financial crisis, bounced back with a profit of 41 cents a share, ahead of Wall Street expectations for 40 cents, according to Thomson Reuters. The profit was a 60 percent jump over the previous year"
Eisman May Leave FrontPoint [Wall Street Journal] On the flip side of the coin, here's a touch of gray for Morgan Stanley "High-profile hedge-fund manager Steve Eisman is considering leaving his investment firm, a move that would complicate efforts by its owner, Wall Street bank Morgan Stanley, to spin off the business. Mr. Eisman has talked recently with potential investors about managing money for them if he leaves the firm, FrontPoint Partners, according to people familiar with the matter. Since 2004, Mr. Eisman has overseen FrontPoint's wagers on financial-services companies, including a well-known bet against subprime mortgages that earned him and FrontPoint's clients huge profits in 2007. He manages about $1.3 billion at FrontPoint."
Happy Friday Eve! I've been up way longer that you, so here's what you missed while you were sleeping and need to know to knock it outta the park today, slugger:
Hu Jintao Heads to the White House [Wall Street Journal] "President Barack Obama formally welcomed Chinese President Hu Jintao to the White House on Wednesday, with both leaders calling for a renewed effort of cooperation as they embarked on a summit that will help redefine the relationship between the world's longtime superpower and its rising Asian rival."
Today's Afternoon Headlines read like Marsha, Marsha, Marsha—Except It's Goldman, Goldman, Goldman. But hey: How often do you lose $5 Billion in 24 hours?
Alexandra Lebenthal and Meredith Whitney are squaring off over municipal bonds.
Both are lovely ladies—and as tempting as it is to strike the cat fight note—there is a substantive story here. \(Note: Lebenthal isn't making the metaphor easy to ignore: She's challenged Whitney—and I quote "on TV [or] outside in the school yard".\)
Goldman Sachs earnings calls aren’t known for their levity. But there was a funny moment in this morning’s fourth-quarter investor question-and-answer period with CFO David Viniar.
Goldman Sachs is likely to reveal the details of its bonuses to staff tomorrow, according to people at the firm.
Yesterday, news broke that Goldman Sachs had fired one of its top foreign exchange salesmen in London. Immediately, people began wondering what had happened.
Word was that Kevin Connors, who was co-head of global forex sales for G10 currencies, had abruptly departed last week. Goldman was officially declining to comment.
But it was clearly the source of comments explaining that Connors had not acted illegally or harmed clients.
So what happened?
CNBC's Patti Domm and Jeff Cox discuss the jobs report and the current dilemma of long-term unemployment.
CNBC's Patti Domm and Jeff Cox discuss the recent GDP numbers and what factors have been affecting it.
Investors give and investors take away, and nowhere has that been more true lately than in value stocks.
Wall Street banks may appear to be offering higher salaries to junior employees, but the increase may not be as generous as it looks.
Investors may be warming up to the stock market, but they're taking the safe way in.
Here are the five best Wall Street movie villains of all time—and what they'd say about Yellen and the Fed if they were at Jackson Hole this week.