Bill Gross thinks conditions are ripe for a liquidity crisis, and he points a finger at his old firm for its potential to be at the center of the storm.» Read More
"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.
Any time I speak with my contacts about jobs it always goes back to the small businessman. Being the driver of jobs, the health of small business is key to a growing U.S. economy.
Today Intuit released its monthly Small Business Employment Index which aggregates online employment data from approximately 60,000 small business employers that have less than 20 employees. I asked Susan Woodward, the economist who worked with Intuit to create the index on this month's highlights.
The insider trader charges against Rajat Gupta raise the question: if he leaked to Raj Rajaratnam about the Goldman-Berkshire Hathaway deal, what else might he have leaked?
Gupta ran McKinsey & Co, one of the top advisors to corporate America, from 1994 to 2003. That position gave him almost unlimited access to inside information. Could Gupta have been leaking back then?
The chief executive of the European Financial Stability Facility has written a letter to the Financial Times to explain why EFSF bonds are not CDOs.
CDOs, or collateralized debt obligations, are a type of structured financial product that is funded by payments made from bonds or other fixed-income securities. CDOs typically have multiple tranches, which represent different payment priorities. \(For example, junior tranches of the CDO would get paid after senior tranches. Junior tranches, therefore, would pay higher rates of interest to compensate investors for their additional risk.\)
The insider trading charges against a Goldman Sachs board member filed today by the Securities and Exchange Commission have been a long time in coming.
The SEC’s Division of Enforcement said that Rajat K. Gupta, a Westport, Connecticut-based business consultant,provided Raj Rajaratnam with confidential information he learned while serving on the boards of Goldman and Procter & Gamble. Rajaratnam allegedly used the inside information to trade on behalf of hedge funds controlled by his company, Galleon. \(Click here to read the breaking news story from CNBC.com.\)
Nobel Prize-winning economist Robert Shiller says that his key valuation indicator is flashing warning signs.
The Fed is in the early stages of an analysis on changes in bond market liquidity, amid signs that liquidity may be less resilient than in past.
Janus Capital acquired a majority interest in Kapstream Capital and said Kapstream's Palghat will support Bill Gross as co-portfolio manager of the Janus Global Unconstrained Bond strategy.