A market priced for perfection will start to wilt when investors realize things aren't particularly perfect.» Read More
Apparently, there’s a lot of confusion about why the SEC chose to bring the action against alleged insider trader Rajat Gupta as an administrative procedure rather than a civil or criminal trial in federal court.
War fever is growing ever hotter with each passing day.
Criticism of president Obama's resistance to committing the United States to a war to erect a No Fly Zone over Libya is heard from both sides of the aisle.
Prepare for a victory lap at 200 West Street: Goldman Sachs has rejoined the ranks of respectability.
Bloomberg reports : "The Bank of England’s appointment of Goldman Sachs Group Inc. Senior European Economist Ben Broadbent to its Monetary Policy Committee shows governments are again looking to the firm for top decision makers, less than a year after it settled U.S. fraud claims."
Accused insider trader Rajat Gupta resigned yesterday from the boards of directors of AMR Corporation and its subsidiary, American Airlines , Inc.
But the loss of yet another board seat—Rajat was also on the boards of Goldman Sachs and Procter & Gamble before the SEC began investigating his connections to Galleon hedge fund founder Raj Rajaratnam’s alleged insider trading—is hardly the worst of Gupta’s worries.
The battle has been joined—and the belligerents have hewn to precisely the war plan one would expect of each.
Francesco Guerrera foreshadows a great deal of the looming hostilities between banks and the shadow banking system in his aptly named article "Monsters that lurk in the shadows of Wall St," which appears in today's Financial Times .
" 'Screwflation' and the Two-Headed Market" [CNBC.com's Partrick Allen]
Raj Rajaratnam's trial begins today [CNBC's Scott Cohn]
Banks ripping of customers doesn't result in big gains for shareholders [CNN Money via Fortune]
"Who Eclipsed Bob Diamond's Pay Package at Barclays?" [CNBC.com via FT]
My colleagueJohn Carney is half right in his opinion piece about Libya —and where he is wrong he is wrong for the best of reasons.
Carney has taken the position that a US enforced no-fly zone in Libya should be avoided in favor of offering Qaddafi the carrot of amnesty in exchange for his immediate departure from the country.
Here is the backbone of his anti-no-fly zone argument:
Now that senior senators from both the Republican and Democratic parties are putting pressure on the Obama administration to put a “no-fly zone” in place over Libya, it’s incumbent that skeptics of this kind of belligerence speak out.
Last summer, Barack Obama promised a new education program that would produce 8 million more college graduates by 2020.
Few people at the time raised the obvious question: do we really need an additional 8 million college graduates? Where’s the evidence for a coming shortage of college educated workers?
Omega joined the growing chorus of investors blaming last week's selloff on trading strategies pioneered by funds like Bridgewater.
Based on historical stock valuations, the Nobel Prize winner told CNBC it's a "risky time."
U.S. stock index futures indicated a higher open on Thursday, building on Wednesday's rally.