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"The challenges, on a global scale, are considerable: A nuclear power disaster; concerns about anemic growth and inflation; Middle Eastern discord; oil supply worries."
When I wrote that, earlier today, the irony hadn't yet fully occurred to me—especially in the context of advice to a president .
If the plotline of this movie sounds familiar that's because it is. The original melodrama is set in 1979—the power plant is Three Mile Island, and the president is Jimmy Carter. And the precedent for a remake isn't a favorable one.
If you happen to see our president tell him this: Now might be a good time to put together a little soirée in the East Room of the White House—just to let the folks hear your voice and to let them know you're still at the helm.
Because your countrymen are getting restive.
Instant messaging and twitter may allow traders to be more profitable than when they work alone or under centralized command.
A new study by a team at the Kellogg School of Management found that internet tools that allow traders to collectively process information without central coordination can increase trading profits.
The emotional investor roller coaster is on hyperdrive as the nuclear situation in Japan remains unknown. With 2011 gains wiped out and now the Yen soaring the markets wait to see if the central banks will intervene.
With all these questions weighing on the markets, I asked Mark Zandi, Chief Economist at Moody's Analytics to offer us his insight.
Ever since the nuclear plants began deteriorating in Japan, there's been no shortage of coverage in the media. But it's been very hard to find anything on the bottom line: how bad could this get? If everything goes wrong, if we get multiple meltdowns, what happens? What's the worse case scenario?
Aid Groups Temper Their Contribution Aid groups say Japan, one of the world's wealthiest nations, has the ability to deal with the disaster's aftermath on its own [Wall Street Journal]
Japanese helicopter-dumping water on reactor — in what some see as a Hail Mary pass to avert disaster. [CNBC]
LIBOR probe widens! [CNBC via FT]
Yen approaches all time high. [Reuters]
[Reuters | Hat Tip: ZeroHedge]
Fukushima's Heroes . [NY Post]
An analysis of mortgage fraud settlement—and how it may benefit the banks. [DealBook via ProPublica]
Don't wear green, it's cheesy. And don't kiss people you know, it's creepy. Just carry like any other Friday eve:
A wiretapped telephone conversation played earlier this week during the trial of Galleon founder Raj Rajaratnam reveals then-Goldman Sachs director Rajat Gupta disclosing confidential board information to Rajaratnam in 2008.
Oddly enough, it may wind up being the best defense Gupta has against civil charges of insider trading.
The Japanese Yen has been gaining strength against the dollar following the tsunami and Japan's subsequent nuclear crisis—so much so that I thought I was reading the chart backwards.
The general explanations given for the Yen's appreciation are currency repatriation and risk aversion.
In an article in the business blog City AM, Boris Schlossberg, Director of Currency Research, at GFT Forex explains :
The "doom loop" is shaking up stock markets as worries of negative interest rates in the US may come.
The rivalry between Bill Gross and his former company Pimco looks set to hinge on the U.S. economy this year. FT reports.
Tender issued for euro-denominated unsecured bonds worth 3 billion euros and dollar-denominated bonds worth $2 billion.