CNBC Reports More Insider Trading Charges to Come (CNBC) "Wall Street is bracing for another round of indictments as early as next week in a massive insider trading probe, people familiar with the matter told CNBC. The move by Federal prosecutors may include a number of arrests, according to these people. The indictments right at the height of the holiday season may prove a tactical advantage for prosecutors, sources in the legal community say." Hardball.
"End to Ireland’s Financial Crisis Starts With Banks" (New York Times) The theme today seems to be this: Financial crises begin—and end—with banks.
"Elizabeth Warren Rounds Up Her Deputies"(Business Week) Elizabeth Warren, the Harvard University law professor selected by President Barack Obama to police consumer finance, is wooing state attorneys general to act as her deputies. Warren, who is on leave from Harvard, may even seek approval to bankroll their work. The state prosecutors "are natural partners for the consumer agency," she said in an interview. "There are regulators in Washington that used to prevent state attorneys general from protecting consumers."
"Stocks edge higher on encouraging economic signs" (Yahoo Finance) "An encouraging trade report and signs that a tax cut package would pass the Senate sent stocks edging higher Friday. The government reported Friday morning that the U.S. trade deficit fell to its lowest level in nine months in October. Growing demand for American goods overseas pushed exports to their highest level in more than two years.
The trade deficit narrowed to $38.7 billion, 13.2 percent below September's deficit of $44.6 billion. The Dow Jones industrial average rose 40.26, or 0.4 percent, to 11,410.32."
"GOP Congress May Block Health-Care Funding: Orszag" (CNBC) CNBC's Michelle Lodge reports: "President Obama’s former director of the Office of Management and Budget, Peter Orszag, told CNBC Friday that he’s concerned that the new Congress could stymie the health-care bill by blocking funding. "