This is how beggar-thy-neighbor monetary policies work, and perhaps why they ultimately fail.» Read More
Apple is slated to report earnings today just before Obama's "town hall" at Facebook. That's not all the Apple news today. Sources who spoke to Reuters say the iPhone 5 will ship in September [Reuters]
Yikes! The street is worried about Goldman's sluggish growth [NYTimes DealBook]
This is from a Deutsche Bank employee familiar with Donald Trump: "In financial circles, it's pretty well known Trump is a deadbeat. " ouch! [The Atlantic]
Goldman Sachs pretty much mostly trades for clients.
Its principal investing and lending is mostly long term—and certainly isn’t something anyone who knows what they are talking about would call trading.
We’ve been critical of Meredith Whitney on “The Strategy Session ”—especially when it came to her bearish call on the municipal-bond market. But Tuesday she deserves credit for posing what may be the investment community’s biggest question to Goldman Sachs on the heels of its first-quarter earnings .
Leslye Jordan-Whittaker and her husband, Ian, are taking a feud over dog ownership to a startling level.
It sounds like it all began when Ian Whittaker worked with Victoria Huxter at Liberum Capital and he asked her to take care of his dog, Bella, 18 months ago. Then, sometime within those 18 months, Whittaker asked for Bella back, but Huxter held onto him.
From the S&P downgrade, to the ever rising price of gasoline, to Federal Reserve Chairman Ben Bernanke's historic Q&A next week, economists have a lot to chew on these days. It's an economic dessert that could leave you with massive indigestion.
You've got layers of economic and geopolitical uncertainty, filled with political jabs, and the cherry on top is the 2012 Presidential election. Everyone and anyone between now and June will be saying that they are the leader Americans have been looking for when it comes to fixing the economic wrongs.
I'm reaching for the Rolaids already!
To get some perspective on all of this, I caught up with Mark Olson, former Federal Reserve Governor and Co-Chairman of Treliant Risk Advisors.
As you probably know, one of the things you can do on Amazon.com is create a list of books that fit into one particular sort of category.
We're all used to hearing about how municipal bonds almost never, ever default.
But good data on defaults is hard to come by. Over at Reuters Muniland blog, Cate Long has produced a chart based on information from Income Securities Advisor. As you can see , it shows more than 50 defaults in the first half of 2010. All told, it looks like there were 84 defaults last year.
This is surprising, because Standard & Poor's says there were just three defaults last year. Fitch says there was just one.
Bad news for all you fine females out there in search of a job. Looks like your good looks could actually be keeping you unemployed.
Why? Female recruiters are haters.
Sssssh. Don’t talk about trading.
The first quarter results released Tuesday by Goldman Sachs showed a 21 percent drop in net earnings from the year earlier—from $3.46 billion to $2.74 billion.
But the drop was less than Wall Street’s analysts expected—thanks in large part to strong results in bond and stock trading.
But far from crowing about its trading prowess, Goldman is keeping this fact very quiet. So quiet, actually, that the word “trading” doesn’t appear at all in its press release or accompanying materials.
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.