Friday, 5 Nov 2010 | 4:47 PM ET

Bank of America Put-Back Suit Total: $375 Billion. But They're Fighting It.

Posted By: Ash Bennington

Economy Adds 151,000 jobs: "Good, but not good enough." (New York Times) So says the president. The 'good' is that it's the first time in four months that the economy has gained any jobs at all; the 'bad' is that the uptick wasn't enough to budge the dismal 9.6 percent unemployment rate.

»Read more
  Friday, 5 Nov 2010 | 4:14 PM ET

Wilbur Ross: Federal Reserve Is Directly Funding the Federal Deficit; Consumer More Levered Than at the Peak of 2007

Posted By: Lori Ann LaRocco

Optimisim has spiked the water on Wall Street with a cocktail of the GOP taking back the House, QE2 and the employment numbers. So what's the smart money banking on as we rapidly approach the end of 2010?

Billionaire, vulture investor extrodinaire Wilbur Ross, Chairman and CEO of W.L. Ross & Co, is always a step or two ahead of the pack. I decided to sit down and talk to Wilbur on his views of QE2, the future of the Bush Tax cuts and his outlook on the economy.

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  Friday, 5 Nov 2010 | 3:02 PM ET

What We Can Learn From How Wal-Mart Uses Its Cash

Posted By: Ash Bennington

One final thought drawn Shahien Nasiripour's 4,000 word HuffPo opus on the Fed . Nasiripour points out that the Fed's mandate is "maximum employment, stable prices, and moderate long-term interest rates."

Walmart Stores
Source: Walmart
Walmart Stores

So how are we doing on the employment front? According Nasiripour, not so well.

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  Friday, 5 Nov 2010 | 1:52 PM ET

Wall Street versus Main Street: Who Benefits More from Cheap Interest Rates?

Posted By: Ash Bennington

According to the Huffington Post Shahien Hasiripour , it's Wall Street. Hands down.

»Read more
  Friday, 5 Nov 2010 | 1:09 PM ET

Who Really Benefits From More Fed Easing?

Posted By: John Carney

Well the government and the banks, of course.

From Shahien Nasiripour's HuffPo piece :

Rather than going to households and small businesses that need credit, though, that money instead is going to the biggest borrower of all — the U.S. Treasury Department.

U.S. banks now own more than $1.5 trillion in Treasuries and taxpayer-backed debt issued by mortgage giants Fannie Mae and Freddie Mac, according to the latest weekly data provided by the Fed. It's a 30 percent increase from the week prior to the Fed's Dec. 16, 2008, announcement that it was lowering the main interest rate to 0-0.25 percent.

Outstanding commercial and industrial loans at U.S. banks have fallen from $1.6 trillion in October 2008 to $1.2 trillion this past September, Fed data show. The $390 billion drop is equivalent to a 24 percent reduction in credit to businesses.

For families, it seems that it's never been harder to get a line of credit. For banks, they book an easy profit by borrowing at near-zero cost and lending it back to Uncle Sam.

Nice work, if you can get it.

»Read more
  Friday, 5 Nov 2010 | 1:00 PM ET

The Foreclosure Fiasco Will Crush Home Prices

Posted By: John Carney
Home For Sale - Reduced Priced
Home For Sale - Reduced Priced

I've written a number of times about how the slow-down in foreclosures is likely to hurt home prices. So has my colleague Diana Olick.

Now new evidence is in, courtesy of the Los Angeles Times .

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  Friday, 5 Nov 2010 | 12:31 PM ET

Did JPMorgan Outsmart the Rest of Wall Street on the Volcker Rule?

Posted By: John Carney

The news that that Spencer Bachus has sent a note to Treasury Secretary Tim Geithner and other top regulators warning that the "Volcker Rule" could damage US competitiveness must have Jamie Dimon smiling.

Jamie Dimon
Getty Images
Jamie Dimon

The bank Dimon runs, JPMorgan Chase , has been perhaps the most aggressive firm on Wall Street when it comes to resisting allowing the Volcker Rule to reshape its business. While Wall Street firms like Morgan Stanley and Goldman Sachs have shed hedge funds and trading desks, JP Morgan Chase has not only kept its biggest hedge fund—it actually acquired a new hedge fund recently .

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  Friday, 5 Nov 2010 | 11:52 AM ET

Quantitative Easing: Barry White Style

Posted By: John Carney

Curtis Threadneedle has put out this Barry White-style ballad about Quantitative Easing. It's co-written by country-western economics star, Merle Hazard.

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  Friday, 5 Nov 2010 | 11:00 AM ET

Did Obama Save Capitalism?

Posted By: John Carney

One of the most outlandish defenses of Obama's first two years has become one of the most emailed articles on the New York Times.

President Barack Obama
President Barack Obama

In the Opinionater section on the website of the New York Times, Timothy Egan tells big corporate donors to be worried "about what you just bought."

He's talking, of course, about the Republican victory in the midterms, which has delivered the GOP control of the House of Representatives. But it's far from clear that big corporate donors "bought" anything in this election. Certainly, it's a canard to say they bought the Republican victory.

As Tim Carney explains , the top 12 corporate political action committees gave far more to Democrats than Republicans. More campaign cash from HMOs went to Democrats. Wall Street donated more to Democrats than Republicans. Lobbyists sent more money into Democratic campaigns than Republican campaigns. Politico showed that even when you include independent political expenditures, the Democratic-aligned political machinery had far more cash to spend than the Republicans.

» Read More
  Friday, 5 Nov 2010 | 9:27 AM ET

Nicole Lapin's Short & Long List

Posted By: Nicole Lapin
Nicole Lapin
Nicole Lapin

Nicole Lapin, of CNBC's Worldwide Exchange, explains what she's long and what she's short this week.

» Read More

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