Friday's nonfarm payrolls report easily beat Wall Street expectations but may not be quite what Wall Street wanted.» Read More
The arranged marriage between Uncle Sam and its unwilling bride, the private sector, has never been more dysfunctional since the start of the financial crisis.
Both want to divorce but both fail to recognize that they need each other to grow and become better. Yes, you read that right. What has failed in this relationship is that both "partners" have forgotten their roles.
We have heard for months from the private sector that the government needs to "incentivize" business and on the flip side we've heard from the government about the "big bad banks" and that the "wealthy" need to pay more of their share. The chastising on both sides is getting them no where.
Government has to realize that the private sector is not evil. Our great nation was and still is built on capitalism (I hope). More government and regulation is not necessarily the answer. Its the quality of regulation that makes all the difference.
One of my contacts who has spoken so eloquently on the roles and relationship between government and the private sector is Wayne Huizenga.
When President Barack Obama takes the stage at Monday’s Town Hall event , many on Wall Street will be watching to see if he keeps up his attacks on banking executives as "fat cats" or adopts a more conciliatory tone.
For most of this year, Wall Street has felt it has been under siege by the White House. The Obama administration has positioned itself against Wall Street on the level of policy and with heated rhetoric.
But in recent weeks, the White House has been reaching out to Wall Street behind the scenes. White House officials have placed calls to top executives at major financial firms with the message that the administration does not view Wall Street as an antagonist, according to several sources familiar with the conversations.
Déjà Vu All Over Again: Re-Inflating The Credit Bubble? \(Wall Street Journal\) As investors suck up debt, yields fall. But has anyone bothered to read the indentures?
I was talking to a friend of mine who used to work for former hedge fund manager, Bernie Madoff (he was a market maker on the legitimate market-making side of the business).
"Are hedge funds dead?" I asked him.
"Of course not," he said. "With the current volatility and 0% interest rates you have to have your money in the game."
In fact, hedge fund total assets at $2 trillion are now higher than their pre-2008 levels.
But here’s my problem, I explained to him.
The flash downpour that whipped through Manhattan Thursday night did not dampen the mood in Chelsea, where hundreds of revelers toasted the 50th anniversary of the Pace Gallery.
Against a backdrop of works by Warhol and Mondrian, legendary artists such as Chuck Close, Jim Dine, and Claes Oldenberg \(all of whom are represented by the gallery\) greeted longtime collectors, including billionaires Eli Broad and Estee Lauder Chairman Emeritus Leonard Lauder. A quick calculus of the room \(both the artwork and the net worth of those in it\) yielded a tally well over $10 billion.
The third time may well be the proverbial charm for Lou Barletta and his quixotic bid to unseat veteran Democratic Rep.Paul Kanjorski.
Kanjorski, the influential senior Financial Services Committee member and frequent “Squawk Box” guest on CNBC, is fighting nothing less than a legacy-challenging battle to keep his seat.
Kanjorski was instrumental in putting together this year’s financial reform legislation, particularly the areas that addressed the too-big-to-fail institutions that triggered the credit crisis. So his seat is a biggie in terms of the Washington governmental structure.
As a 13-term incumbent representing northeastern Pennsylvania, Kanjorski had been breezing through election after election until Barletta started challenging him in 2002.
The Irish have got a lot of things right... beer, scenery, accents. But they just can't seem to get their finances in order.
A Barclays note released Thursday, which proposed the government should consider some form of debt-for-equity swap with banks' debt holders, further rattled the country's troubled banking sector, which in-turn spurred the cost of insuring the country's sovereign debt to a record high. Ireland's 5-year credit default swap hit 425 basis point Friday.
And with rumors flourishing that Ireland may need to reach out to the European Union and the International Monetary Fund to help cover its debts, markets remain highly sensitive. » Read More at CNBC.com
Uncle Sam's ugly, unmarriable children, Fannie and Freddie already have a mountain of misery and challenges and their problems are about to get bigger as signs of the softening real estate market and anticipated foreclosures are expected to climb and continue.
The troubled twins have already reclaimed nearly as many of the homes as they did in 2009 and the year isn't over yet.
Today I went across the aisle to speak with Rep. Paul Kanjorski \(D\) Pennsylvania, Chairman of the Capital Markets Subcommittee to ask him his solutions on what to do with Fannie and Freddie.
It's been years since I found myself staring agape at an IPO.
The IPO for SouFun Holdings opened at $67 this morning, after pricing 2,933,238 shares at $42.50. That was already thought to be the high end of the expected $40.50-$42.50 range. But SouFun blew right through those numbers.
The falling out between Bill Gross and his one-time partner Mohamed El-Erian has quickly turned into one of the ugliest bust-ups in recent history.
The founder of a hedge fund with $21 billion under management provided three investing rules and three favorite stocks.
Former executives at Dewey & LeBoeuf were accused of using accounting gimmicks to fool banks and investors.