The active versus passive debate just got a new wrinkle, and one analyst thinks he knows why.» Read More
Steve Sailer points out why our aid to Egypt doesn’t seem to buy us as much loyalty as it once might have.
The deal struck at Camp David in 1978 was, very roughly, that, in return for no more war, the U.S. would give Israel $3 billion per year and Egypt $2 billion per year \($1.3 billion of which went to strengthen the military\), or $50 per Egyptian per year. That wasn't bad money back then.
Seriously, if I got over the icy bridge at 2am- you can get a move on, too. Here's what you missed while icicles formed on your eyelids:
Are we we experiencing a quiet constitutional crisis?
It’s well known that Judge Roger Vinson ruled yesterday that the individual mandate exceeded the powers of the federal government under the Commerce Clause. But he also ruled that because the law lacked a severability clause and the law’s proponents had argued that the individual mandate was a necessary part of the scheme, the entire law was invalid.
Blackrock sent out a short memo yesterday on the ongoing situation in Egypt.
Most of the analysis is kind of vanilla:
If President Hosni Mubarak says in a speech tonight that he will step down at the next election, as Al Arabiya TV is reporting, I doubt it will do much to satisfy the protesters. If anything, it will likely embolden them.
With at least one million people rallying across Egypt to call for Mubarak to give up power and leave the country, a promise to step down at some future point seems like a request for the mobs to stand down without accomplishing their goal.
What’s more, it is a request made out of weakness—and showing weakness at this stage will make the mobs believe they are closer to achieving their goals and less willing to compromise.
Here's one way to handle things when your marriage goes bad:
Clients of Wedge Partners (an independent equity analysis firm that focuses on the technology and media industries) received a scathing note this morning on RIM from firm principal Brian Blair.
After the analyst reviewed the company's tablet, the RIMM PlayBook, he announced that the playbook will be poor received by the market." I caught up with Blair after the note was released.
Wall Street firms received briefings from US security officials about a potential threat after the publication of the most recent issue of Inspire Magazine ran a cover story advocating jihadists target banks and other institutional wealth centers.
The briefings took place in January, according to NBC news. The fourth issue of Inspire was published on January 16 or so.
Jim Margolin, a spokesman for the FBI, seems to be trying to quell fears that might arise from news of the briefing.
"In post-9/11 world we routinely give security briefings to security personnel in various parts of the private sector. This was in the course of a periodic update in the evolving threat stream," Jim Margolin, spokesman for the Federal Bureau of Investigation in New York, told Reuters "I would stress that it's our belief that the information that was discussed was not imminent, not specific.”
Bullish just a few weeks ago, investors in U.S. stocks should be at worst "slightly bearish," Dennis Gartman tells CNBC.
Zurich Insurance said it was weighing up a bid for British $7 billion rival RSA Insurance Group.
While consensus for the first Fed rate rise is leaning to September, some market watchers are suggesting two U.S. hikes.