Life is about to get more difficult for the nation's big banks but possibly a whole lot easier for the small ones.» Read More
It would be easier to solve a Rubicks cube with one hand than trying to predict the future of reform for Fannie and Freddie.
When the troubled twins were not included in the financial reform bill, the American taxpayer was told by Secretary Geithner the Administration would "develop a comprehensive reform proposal" on the GSEs. Now it Congress' turn to pick up the task and they're making a September Splash.
The month of September is going to be a busy one for the Representatives with three separate GSE reform hearings ending with a crescendo with Chairman Barney Frank's hearing on the 29th. The first hearing titled" The Future of Housing Finance: A Progress Update on the GSEs" was chaired by Rep. Paul Kanjorski (D-PA).
I had a chance to ask both Kanjorski and Rep. Spencer Bachus, Ranking member of the Financial Services Committee their outlooks on the GSEs and what needs to be done to them. I am breaking down my C-Suite Insider into two separate interviews. Here's my dialog with Rep. Bachus:
Looks like the Goldman Sachs hip-hop artist might continue releasing new tunes and beats that will hit Wall Street in 2011.
Allen Mask, a new investment banker and hip-hop artist is apparently anticipating the release of a new music "project" in the spring of 2011, according to a Facebook event page Mask created.
“Over the next six months from the center of financial universe I will be releasing a barrage of Allen Mask music and media,” Mask wrote on the event’s info page .
Mask graduated in May 2010 from the University of North Carolina at Chapel Hill where he majored in journalism and mass communication and minored in both music and entrepreneurship.
While at UNC, Mask co-founded a student-run record label called Vinyl Records.
Mask could not be reached for comment.
If you weren’t looking for it, you might have missed it completely.
But if you knew what to look for, it seemed to be everywhere.
All around the midtown Manhattan offices of Barclays Capital people were wearing green. Green ties. Greens cufflinks. A green scarf. A jade bracelet.
The former Lehman Brothers employees were commemorating the second anniversary of the company's collapse. When BarclaysCapital later bought most of Lehman, it hired many of the employees.
Officially, there was no notice taken of the anniversary. Some employees felt slighted by this. It was a hugely traumatic time in their lives.
Chesapeake Energy, one of the country’s largest gas producers, boasts that its “offensive” hedging strategies have created more than $5 billion in gains in the last decade. But as it piles on longer-dated bets on gas prices, juicing short-term cash supplies and potentially curbing future profits from rising prices, some analysts and investors have grown concerned.
During the prior three quarters, through June 30, Chesapeake sold more than 70,000 long-dated call options in a bet that natural-gas prices would remain below about $8 between the years 2013 and 2020, according to company filings. During the same period, natural gas prices sank from just under $5 to the current levels of about $3.90 after briefly rallying to about $6 in January.
Nicole Lapin, of CNBC's Worldwide Exchange, explains what she's long and what she's short this week.
The men in patterned shirts clutched bottles of beer while leaning in to talk to each other over the sounds of the Irish band. Women sipped glasses of wine or vodka tonics, some silently debating whether to take off the heels that were far past beginning to pinch their feet and change into flip flops hidden in oversized handbags.
It was, in short, a scene like many others being played out across Manhattan. Young professionals having drinks after work.
But there was a difference. No one asked the otherwise ubiquitious question: “Where do you work?” Instead, they asked: “What did you do at Lehman?”
Last night, scores of former Lehman Brothers employees gathered at Emmett O’Lunney’s bar on 50th street near Broadway to commemorate the day Lehman died. Two years ago, the investment bank formerly known as Lehman declared bankruptcy after learning that neither the government nor a larger financial institution would rescue it from the severe financial distress it faced.
It was two years ago today that the US took over AIG and the the debate of "Too Big To Fail" and how the government could pick and choose winners was born.
The markets were in a gut wrenching free-fall at that time and investors were still in shell shock and wringing their hands after the government allowed Lehman Brothers to fail. What came next know one expected. Uncle Sam came flying in wearing his star spangled cape made by the U.S. taxpayer and in a historical bail out, seized control in a $85 billion deal. If only the price tag stayed that price.
Over the course of time, the company received more taxpayer money, finally totaling a $182 billion.
Former AIG CEO Hank Greenberg has been vocal and a guest on the network airing his concerns in the matter in which his beloved company was being broken up into bits and pieces.
CNBC's Patti Domm and Jeff Cox discuss the jobs report and the current dilemma of long-term unemployment.
CNBC's Patti Domm and Jeff Cox discuss the recent GDP numbers and what factors have been affecting it.
Investors give and investors take away, and nowhere has that been more true lately than in value stocks.
Forgive him, father, for he has sinned. Trader-turned-comedian Raj Mahal offers these confessions from his time on Wall Street.
Demand for Alibaba's IPO is so oversubscribed that bankers are expected to close the books to investors in a matter of days.
Returns have been mixed and some analysts say large swaths of the IPO market, especially biotechnology stocks, are frothy.