This is how beggar-thy-neighbor monetary policies work, and perhaps why they ultimately fail.» Read More
Falling home prices may threaten the economic recovery.
Home prices have been falling in many markets for several months. The most recent data from Case-Shillershow that home prices declined in every one of the 20 cities included in their index—except Detroit.
Will Rajat Gupta's insider trading defense be that it was his job to spill board room secrets to Goldman's tier one clients?
House prices are falling again—and the decline is accelerating.
Today’s big housing numbers comes from the Case-Shiller home price indexes. The indexes, which measure how prices have changed over the previous three months, show prices falling in every major metropolitan area \(except, weirdly, Detroit\). The 20-city average declined 3.3 percent from a year ago, and 1.1 percent from the previous three-month average.
Silver margins are going up —again. As the CME tries to keep pace with the explosive silver rally, the exchange has now hiked margin requirements eight times in the past twelve months.
While increased margins are more of a reaction to price and volume than a meaningful intent to control prices, market watchers say that increasing margins has sometimes caused investors to reduce positions and deleverage in order to meet those higher margin requirements.
There is perhaps no more telling detail about what kind of person works at Goldman Sachs than the story of the Memorial Day weekend meeting William Cohan relates in his book "Money and Power."
What ever happened to the cache of banking secrets Wikileaks was supposedly going to release early this year?
Wikileaks honcho Julian Assange told Andy Greenberg at Forbes that he was in possession of a trove of documents that "could take down a bank or two." The documents wouldn't necessarily show illegality but they would reveal an "ecosystem of corruption" at one of the biggest banks in the United States. Wikileaks would release it "early next year."
Hedge funds short Obama [WSJ]
Jury to decide fate of Raj Rajaratnam [NYTimes]
Biggest banks are beating earnings estimates, but they can't hide that 13% drop in revenue [Bloomberg]
Surfs up! Treasury Secretary Timothy Geithner catches some waves [ESPN]
This is how beggar-thy-neighbor monetary policies work, and perhaps why they ultimately fail.
UBS has reacted to the financial market turbulence by freezing salaries for its investment bankers until at least mid year. The FT reports.
Janet Yellen is expected to attempt to balance raising interest rates against the risks of a weaker global economy.