Hedge fund managers are fuming at new political rhetoric against them and their huge paydays.» Read More
We have been seeing the budget battles of some states playing out in the form of protests and now more than ever the fiscal challenges facing many states are making headlines almost on a daily basis.
One of the expenditures states are required to pay for is providing Medicaid coverage and with the passage of health care reform more individuals will be rolled into the program.
On Tuesday, three governors—Haley Barbour (R-MS), Gary Herbert (R-UT) and Deval Patrick (D-MA) descended into Washington, testifying before the House Energy Commerce Committee on the burdens imposed by health care reform.
I caught up with two House members, both former practicing MD's—Rep. Michael Burgess \(R-TX\) and Rep. Paul Broun \(R-GA\) on the price tag of health care reform and the impact it could have on the quality of health care.
McKinsey & Co is reeling from the revelation that the Securities and Exchange Commission believes one of its most high-flying alumni gave corporate secrets to a hedge fund manager who is now accused of being at the center of a large and complex insider trading scheme.
For a firm that thrives on its reputation, proximity to misdeeds of this sort could be fatal, according to former McKinsey consultants who spoke on the condition of anonymity.
So, during tough economic times, you'd think people drink their sorrows away. Apparently not so much. I was surprised to find that US beer sales were down an estimated 2.7 percent by volume for the first half of 2010.
So who's winning? The craft, microbrews, like the newly-public Kona Brewing . The CEO rolled on set this morning in flipflops and a Hawaiian shirt, straight off the plane from paradise. \(Seriously, he gets paid to drink beer and live in Hawaii—tough life but someone's gotta do it.\)
Earlier this week the U.S. Treasury released its Preliminary Report on Foreign Holdings of U.S. Securities.
This report contains the preliminary revised annual numbers from the Department of Treasury.
As Cardiff Garcia at the Financial Times Alphaville explains , these revised annual reports are generally thought to be more accurate than the monthly Treasury International Capital System \(TIC\) data.
"Goldman knows, even though it's a mighty company, it survives at the sufferance of the U.S. government," Steve Forbes said as my guest host on the show this morning.
"Apple Set to Unveil New iPad, With or Without Jobs" [Reuters via CNBC.com]
A batch of economic data this morning includes ADP National Employment Report [CNBC.com]and mortgage applications [Reuters via CNBC.com]
"It's a Mad, Mad, Mad, Mad-Off World" [CNBC's Jane Wells]
Whoa! Check out these overflowing water bills that cost as much as a mortgage payment [CNN]
If Steve-o Forbes can hang out with me for an hour from 5-6 in the morning, you can give me 5 seconds to skim the Cliffs Notes version of my show:
Rajat Gupta may be the most important businessman ever charged with a serious violation of securities laws.
The standard defendants in insider trading cases are low-level employees of corporations or Wall Street firms. Only very occasionally does anyone who has risen to the height of a Raj Rajaratnam—the founder of Galleon, and alleged co-conspirator of Gupta—get charged with serious violations.
Rajat Gupta, the business titan charged today with insider-trading by the SEC, was at the center of Wall Street—and the crimes he has been accused of committing allegedly occurred at the very heart of Wall Street as well.
The CBOE Volatility Index fell below 12 as Federal Reserve Chair Janet Yellen began speaking.
Fed Chair Janet Yellen stuck to her script Friday, even though traders had hoped CPI data would force her to give a nod to improved data.
Janet Yellen just added fuel to the fire that HFT is to blame for all the ill in the market. Trader Jack Boroudjian says that's just wrong.