As Regulators Ease Restrictions, Banks Return Capital to Shareholders (Financial Times) Both JPMorgan Chase and Citigroup announced plans this week to either increase dividends or buy back stocks. Goldman Sachs is also contemplating a share buyback. Investors seem pleased.
Futures flat on the Week, Despite Volatile Trading (Yahoo)
Changing of the Guard at Two Major Accounting Standards Boards (New York Times) The Financial Accounting Standards Board, and its international counterpart, The International Accounting Standards Board, are currently undergoing a change in leadership. Despite new personalities, old battles rage on. (Do current accounting methods accelerate lending during economic booms, and suppress lending during contractions? Is market-value accounting the future?)
Credit cards: The Next Generation (New York Times)Credit cards get a major makeover, as lenders experiment with next generation technology. (The new cards literally have lights and buttons.)
Verizon Beats the Street (CNBC.com)EPS at 56 cents, better than 54 cent consensus. But revenue is down year over year, from $27.26 billion in 2009 to 26.5 billion in 2010.
Americans Distorted View of Income Distribution. (BusinessWeek) A new study shows that Americans believe their country is far more economically equal than it is — but they still oppose means to redistribute wealth. (This and other paradoxes detailed within.)
AFSCME Now Largest Election Spender (Wall Street Journal)The American Federation of State, County and Municipal Employees is now the leading group for independent election outlays. Not surprisingly, some conservatives see a conflict of interest.