Maintaining zero interest rates is creating a scenario in which containing risks "becomes virtually impossible," according to an analysis.» Read More
A week or so before Obama launched the attack on Libya, we warned that while an air-campaign could likely ground Gadaffi’s air force—hopes that it would accomplish much more were unfounded.
The Federal Reserve announced Wednesday that it was declining an offer from American International Group to buy the mortgage-related assets it holds in its Maiden Lane II portfolio.
Instead of selling the assets as a block to a single buyer, the Fed says it will sell the assets in individually and in blocks in a “competitive process.” Earlier reports have said that the Fed was considering an auction for the assets.
Every time there is a crisis in the Middle East and gasoline prices go up, we start hearing from the halls of Congress the need for a "comprehensive energy policy." It's almost a running joke.
Everyone admits we need such a policy but no one can agree on anything and nothing happens. Instead we get piecemeal legislation.
On the morning of the President delivering his energy speech calling for boosting oil and natural gas production and cutting oil imports, the Democratic leadership invited selected press for a business media roundtable. The Senators spoke a bit on tax reform and job creation.
I decided to ask Democratic Senators Mark Begich \(AK\), Mark Warner \(VA\), Amy Klobucher \(MN\) Ron Wyden \(OR\), and Jeanne Shaheen \(NH\) on the amount of jobs an energy policy could create. I pointed out in one of my interviews with Harold Hamm CEO of Continental Resources \(CLR\) that he told me he has 10,000 job openings.
You would think that mortgage lenders would be chastened by the financial crisis and prolonged economic slump. After all, mortgage loans played a central role in the calamity from which we are still struggling to recover.
But you’d be wrong.
Yesterday financial regulators proposed a set of rules intended to lower mortgage defaults by requiring banks to retain five percent of the risk when they package home loans as securities. Unfortunately, the plan relies on banks to adequately self-regulate their lending practices—something they’ve shown time and again they are not very good at.
In the witness stand yesterday, former Galleon portfolio manager Adam Smith told jurors about the world inside Raj Rajaratnam's hedge fund.
He testified that in addition to legitimate research, traders and analysts were encouraged to find out confidential numbers—concrete figures connected to revenue, or earnings, or impending deal pricings—before they were released publicly.
Barclays is considering moving its global headquarters from London to New York.
The regulatory capital requirements are higher in the U.K.
Neil Barofsky's op-ed on "Where the Bailout Went Wrong" [NYTimes]
Economic data today includes the ADP employment report and mortgage applications [CNBC.com via Reuters]
Earnings reports include Family Dollar and Mosaic Group. [CNBC.com via Reuters]
Market conditions and stabilizing economic data could lead the Federal Reserve to raise interest rates in October, David Lebovitz said.
Stocks sank and investors ran to Treasurys after a disappointing jobs report pushed off expectations for a Fed rate hike into 2016.
The economy created 142,000 jobs in September, a number that whiffed on expectations and could cool expectations that the Fed will start raising rates.