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
In light of all that has happened in Libya over the last week, it seems fair to wonder how Libyan president Muammar Gaddafi has thus far avoided suffering the same fate as Hosni Mubarak, who was forced from power in neighboring Egypt earlier this month.
In Egypt, the military's apparent lack of willingness to fire en masse upon protestors, in Tahrir Square and elsewhere, has often been cited in the media as one of the causes of the revolution's success.
Is a US Government Shutdown Looming? [Bloomberg]
GM Returns to Profitability [CNBC.com via Reuters ]
"Greenberg: Is the New Sears' CEO a Joke?" [CNBC.com]
Charities merger creates a frown [NYTimes]
It’s always harder to wake up on Friday eve, right? Stop your kvetching, though, I was up way earlier than you and because I’m so nice, I put together a list of what you missed:
From prank phone calls to protests, the state budget battles are getting uglier every minute. And this is just on the state level—what's going to happen on the national stage? I caught up with former House Majority Leader and Tea Party Leader Dick Armey on all the political jabs.
While muni bond optimists come in a variety of flavors, they all miss one important factor: the risk of municipal debt contagion.
Reading through the various publications put out by banks and bond fund managers, you frequently come across two strategies.
Wells Fargo, for example, advises clients to have a diversified portfolio so that isolated defaults won’t have a large impact on the overall returns.
Pimco, on the other hand, tells clients that the key to success in muni investing is picking the highest quality muni credits.
Despite rising commodity prices and a bleak employment picture, “stagflation” remains a word not uttered in the polite company of the financial world.
But there remain only a few more tumblers to fall into place for a return to that awful word that conjures up images of the “malaise days” of the late 1970's and early ‘80s, where rising inflation and slumping employment tamped down economic growth.
A suit filed against Citigroup by the trustee representing Bernie Madoff's victims would seem to put banks in an impossible position.
According to a report in the Wall Street Journal, here are the generally agreed upon facts.
Sometime prior to November 2006, Citigroup lent $300 million to a Madoff feeder fund called Tremont Partners.
A lawsuit seeking to recover money for Madoff victims seems to raise questions about what Citigroup knew about Madoff's illegal activities—and about their potential liabilities.
On May 6, 2010, an independent trader from west London received a warning about his behaviour from the US's largest futures exchange. The FT reports.
Competition alive and well in equity space.
On Thursday, stock of Arris went up 20 percent because they announced an inversion deal. The company sponsors Carl Edwards in Nascar.