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Measuring The Fiscal Costs Of Not Fixing The Financial System
baselinescenario.com — This post is a slightly edited version of remarks prepared for delivery at Unwinding Public Interventions in... the Financial Sector: Preconditions and Practical Considerations , IMF High-Level Conference, Thursday, December 3, 2009, Washington D.C. I participated in Session 2: Managing Fiscal ... (more) Measuring The Fiscal Costs Of Not Fixing The Financial ...
Securities Docket A.M. News Wire for 2009-12-05
Securities Docket A.M. News Wire for 2009-12-05
securitiesdocket.com — Web Watch: Best Blog Posts and Columns For the Week Ending Dec. 4, 2009 (SD) http://bit.ly/80d93r #... FINRA Execs Rake It In While Organization Loses Money http://bit.ly/4OQ0iV # Galleon Figure Kumar No Longer With McKinsey http://bit.ly/5SE1Ci # House Passes Enhanced SEC Enforcement ... (more) Securities Docket A.M. News Wire for 2009-12-05
Sen. Gregg's GOP Tactics For Political Obstruction Of Healthcare Reform Laid Bare
onthehillblog.blogspot.com — Instead of developing substantive proposals to reform the U.S. healthcare system, Senate Republicans have assembled a point-by-point... plan designed to do nothing but stall and obstruct the Democrats' reform legislation, the Senate majority leader charges. (more) Sen. Gregg's GOP Tactics For Political Obstruction Of ...
New York Community Bank, Westbury, New York, Assumes All of the Deposits of AmTrust Bank, ...
fdic.gov — New York Community Bank, Westbury, New York, Assumes All of the Deposits of AmTrust Bank, Cleveland, Ohio... AmTrust Bank, Cleveland, Ohio, was closed today by the Office of Thrift Supervision, which appointed the Federal Deposit Insurance Corporation ... (more) New York Community Bank, Westbury, New York, Assumes ...
Press Releases - PR-220-2009 12/4/2009
fdic.gov — State Bank and Trust Company, Macon, Georgia, Assumes All of the Deposits of First Security National Bank,... Norcross, Georgia First Security National Bank, Norcross, Georgia, was closed today by the Office of the Comptroller of the Currency (OCC), ... (more) Press Releases - PR-220-2009 12/4/2009
Press Releases - PR-219-2009 12/4/2009
fdic.gov — State Bank and Trust Company, Macon, Georgia, Assumes All of the Deposits of the Buckhead Community Bank,... Atlanta, Georgia The Buckhead Community Bank, Atlanta, Georgia, was closed today by the Georgia Department of Banking and Finance, which ... (more) Press Releases - PR-219-2009 12/4/2009
Senators Demint & Vitter Announce Block On Bernanke's Nomination "Until We Get A Vote To Audit The Fed"
Senators Demint & Vitter Announce Block On Bernanke's Nomination "Until We Get A Vote To Audit ...
dailybail.com — Senator Jim Demint (R-SC) announced on Twitter last night that he would make block B-52's nomination "until... we get a vote to audit the Fed."  Demint joins fellow Senators Bernie Sanders, Jim Bunning and Daivd Vitter in announcing plans to place a procedural 'hold' or block on the ... (more) Senators Demint & Vitter Announce Block On Bernanke's ...
Bunning Calls Bernanke's Performance "Worse Than (Fired) Notre Dame Coach Charlie Weis"
Bunning Calls Bernanke's Performance "Worse Than (Fired) Notre Dame Coach Charlie Weis"
dailybail.com — Video: Mike Stark gets confirmation from Sen. Bunning that he will place a legislative hold on the... Senate vote to confirm Bernanke -- December 3, 2009 From The Hill Sen. Jim Bunning has placed an additional hold on Federal Reserve Chairman Ben Bernanke's nomination to a second ... (more) Bunning Calls Bernanke's Performance "Worse Than (Fired) ...
Bunning Joins Sanders In Move To Block Vote On Bernanke (Calls His Performance 'Worse Than Notre Dame Coach Charlie Weis')
Bunning Joins Sanders In Move To Block Vote On Bernanke (Calls His Performance 'Worse Than Notre ...
dailybail.com — Video: Mike Stark gets confirmation from Sen. Bunning that he will place a legislative hold on the... Senate vote to confirm Bernanke -- December 3, 2009 From The Hill Sen. Jim Bunning has placed an additional hold on Federal Reserve Chairman Ben Bernanke's nomination to a second ... (more) Bunning Joins Sanders In Move To Block Vote On Bernanke ...
December 8 Webcast: Investigations, Accounting Fraud, and Related Economic Damages
December 8 Webcast: Investigations, Accounting Fraud, and Related Economic Damages
securitiesdocket.com — A panel of legal and financial experts will discuss emerging trends in investigations, accounting fraud, and related... damage considerations. The discussion will cover topics such as: legal definitions of fraud, types of damages associated with fraud claims, detection of accounting fraud, and ... (more) December 8 Webcast: Investigations, Accounting Fraud, ...
Chris Dodd's Opening Remarks Praise Bernanke: "I Believe You Are The Right Leader And You Deserve Another Term"
Chris Dodd's Opening Remarks Praise Bernanke: "I Believe You Are The Right Leader And You ...
dailybail.com — Video: Excellent recap of yesterday's confirmation hearings with quotes from Bernanke, Senators Bunning , Shelby, & Dodd's... opening statement -- December 3, 2009 -- Runs 3 minutes "I believe you are the right leader for this moment in the nation's economic history and I believe your ... (more) Chris Dodd's Opening Remarks Praise Bernanke: "I Believe ...
Darling Said to Cut Bank Bailout Cost Estimate by 80%
hf-implode.com — "Chancellor of the Exchequer Alistair Darling will scale back his estimate for the cost of bailing out... Britain’s banks to no more than 10 billion pounds ($16.6 billion) from 50 billion pounds, Treasury officials said." (more) Darling Said to Cut Bank Bailout Cost Estimate by 80%
"The Case for $6 Trillion More Monetary Stimulus"
economistsview.typepad.com — Tim Duy passes this along: No Exit: The Case for $6 Trillion More Monetary Stimulus, by Joseph... Gagnon, Peterson Institute for International Economics : A lively debate is under way between those who want more fiscal stimulus to create jobs and ... (more) "The Case for $6 Trillion More Monetary Stimulus"
Buffett and Geithner
Buffett and Geithner
baselinescenario.com — Andrew Ross Sorkin’s Too Big to Fail sure is a page-turner; even for events that I already... knew about in general, it’s full of new details and juicy quotations. For example, on page 508 it lays out the details of Warren Buffett’s October 2008 proposal for a ... (more) Buffett and Geithner
Unemployment’s Surprising Drop
Unemployment’s Surprising Drop
247wallst.com — The Labor Department is out with its November unemployment rate and the change in non-Farm payrolls. The... official unemployment rate in November went down to 10.0% from 10.2% in October. That is of course the official rate, as the unofficial rate is ... (more) Unemployment’s Surprising Drop
Write-Offs: 12.03.09
pheedcontent.com — $$$ Sandy Weill thinks Tim Geithner needs a massage [NYM] $$$ How To Catch High-Flyers [FT] $$$... Tiger's New Sponsors [CNBC] $$$ Bernie Sanders is not threatening the Federal Reserve's 'independence' [WaPo] Bernie ... (more) Write-Offs: 12.03.09
David Malpass: Near-Zero Rates Are Hurting the Economy
David Malpass: Near-Zero Rates Are Hurting the Economy
online.wsj.com — DAVID MALPASS The Federal Reserve implemented an emergency monetary policy after the 2008 Lehman bankruptcy to salvage... the world financial system. In his testimony yesterday before the Senate Banking Committee, Fed Chairman Ben Bernanke said, "We must ... (more) David Malpass: Near-Zero Rates Are Hurting the Economy
Europe's SWIFT Bow
eurotrib.com — Remember when US President Obama bowed to the emperor of Japan? And when he was...... (more) Europe's SWIFT Bow
Bernanke May Get Second Term at Fed Shorn of Bank Supervision
Bernanke May Get Second Term at Fed Shorn of Bank Supervision
bloomberg.com — Dec. 4 (Bloomberg) -- Federal Reserve Chairman Ben S. Bernanke left a Senate confirmation hearing with support... for a second term heading a central bank that may be shorn of its powers to supervise financial firms. Banking Committee Chairman ... (more) Bernanke May Get Second Term at Fed Shorn of Bank ...
The Bad Ben Bernanke Bet
The Bad Ben Bernanke Bet
paul.kedrosky.com — As expected, Fed head Ben Bernanke got a rough ride today at his pre-confirmation confirmation hearing. While... he wasn't accused of having had anything to do with the Lindbergh kidnapping, the poor box office of The Land Before Time, recent snow in ... (more) The Bad Ben Bernanke Bet
Fed Chairman Never Learn
calculatedriskblog.com — In his 2001 testimony , Fed Chairman Alan Greenspan testified before the House Committee on the Budget,... and while offering his usual cautions and caveats, Greenspan talked of surpluses for the foreseeable future. Greenspan spoke of "an on-budget ... (more) Fed Chairman Never Learn
Jim Bunning does not heart Ben Bernanke
Jim Bunning does not heart Ben Bernanke
ritholtz.com — With a groundswell of public opinion against the Federal Reserve in general and Ben Bernanke in particular,... Sen. Jim Bunning (R-KY) takes something of a victory lap for having been the only committee member to oppose Bernanke’s nomination four ... (more) Jim Bunning does not heart Ben Bernanke
Sen. Bunning Tells Bernanke: "You Are The Definition Of A Moral Hazard; The AIG Bailout Alone Is Reason Enough To Send You Back To Princeton"
Sen. Bunning Tells Bernanke: "You Are The Definition Of A Moral Hazard; The AIG Bailout Alone Is ...
dailybail.com — PLEASE email, facebook, re-tweet, share and take our stories with you when you leave.  Our only weapon... against the madness is GREATER AWARENESS.  Thank you. ---------- Video: Senator Jim Bunning Opening Remarks And Response From Federal Reserve Chairman Bernanke -- ... (more) Sen. Bunning Tells Bernanke: "You Are The Definition Of ...
Ron Paul: Obama Is Preparing for Perpetual War
hf-implode.com — "“Congressman addresses warmongers, directly asks Gates, Clinton if they support Bush doctrine of “preventive war”"... (more) Ron Paul: Obama Is Preparing for Perpetual War
Maintaining financial stability across the United Kingdom's banking system
nao.org.uk — The public support provided to United Kingdom banks by the Treasury was justified, given the scale of... the economic and social costs if one or more major banks had collapsed. The final cost to the taxpayer won’t be known for a number of years, however. (more) Maintaining financial stability across the United ...
Bernanke, Pro and Con
Bernanke, Pro and Con
economix.blogs.nytimes.com — Should Ben Bernanke be reappointed to lead the Fed?... (more) Bernanke, Pro and Con
Health Industry Hopes Influence Investment 'Pays Off' To Hang Onto Antitrust Exemption
onthehillblog.blogspot.com — The health insurance industry is banking on its massive campaign contributions to lawmakers to prevent Sen. Patrick... Leahy from passing his measure to strip the industry of its antitrust protection, according to open government watchdog groups. (more) Health Industry Hopes Influence Investment 'Pays Off' To ...
Bernanke: 'Little bit early' to make case for second stimulus
thehill.com — Federal Reserve Chairman Ben Bernanke on Thursday threw cold water on efforts to push a major new... fiscal stimulus package. At his confirmation hearing for a second term as chairman, Bernanke emphasized that the government has spent less than half of ... (more) Bernanke: 'Little bit early' to make case for second ...
Bernanke Channels Willie Sutton In Assault On Social Security: 'That's Where The Money Is'
Bernanke Channels Willie Sutton In Assault On Social Security: 'That's Where The Money Is'
huffingtonpost.com — Ben Bernanke has overseen the greatest expansion of the Federal Reserve's balance sheet in its history, pouring... trillions of dollars into Wall Street firms at roughly zero interest rates. His generosity, however, has a limit. In testimony before the ... (more) Bernanke Channels Willie Sutton In Assault On Social ...
Did Obama Warn on Friday’s Unemployment Data?
Did Obama Warn on Friday’s Unemployment Data?
247wallst.com — There have been at least two occasions where President Obama has effectively made reference to the direction... of the unemployment and non-farm payrolls data within the few days before the key report due Friday. One was just a month ago, but it seems ... (more) Did Obama Warn on Friday’s Unemployment Data?
ISM Data: Service Sector Back in Hell
ISM Data: Service Sector Back in Hell
247wallst.com — The Institute of Supply Management has released its November data for the services sector this morning. The... ISM non-Manufacturing data had gotten back to growth briefly in October and September. The November figure came in at 48.7% in versus 50.6% ... (more) ISM Data: Service Sector Back in Hell
Jobless Data Staying in Right Direction
Jobless Data Staying in Right Direction
247wallst.com — The Labor Department is out with the newest weekly jobless claims data. The figure came in at... 457,000 versus the estimates from Bloomberg of 485,000. The preliminary unrevised figure a week ago was 466,000, and that was revised to 462,000 for the ... (more) Jobless Data Staying in Right Direction
Things to come
krugman.blogs.nytimes.com — What I see is years of terrible job markets, combined with political paralysis.... (more) Things to come
United States Senator Jim Bunning, Kentucky
bunning.senate.gov — Bunning Statement On The Re-Nomination Of Ben Bernanke To Be Chairman Of The Federal Reserve Senate Banking... Committee Thursday, December 3, 2009 As Prepared For Delivery: Four years ago when you came before the Senate for confirmation to be Chairman ... (more) United States Senator Jim Bunning, Kentucky
Left-Right Coalition Calls For Federal Reserve Audit Before Bernanke Is Reappointed
onthehillblog.blogspot.com — Leaders on opposite sides of the political spectrum joined forces today on a letter to the Senate... seeking that Congress mandate an audit of the Federal Reserve Bank before voting to reappoint Federal Reserve Chairman Ben Bernanke for a second term. (more) Left-Right Coalition Calls For Federal Reserve Audit ...
SEC Hedge Funds Probes
SEC Hedge Funds Probes
richard-wilson.blogspot.com — SEC Hedge Funds Probes SEC Increases Probes into Hedge Funds The Securities and Exchange Commission is ramping... up probes into the hedge fund industry.  Hedge funds are also being asked to surrender performance and trading data to the regulator.  According to ABC News, The SEC ... (more) SEC Hedge Funds Probes
Historical Spreads
Historical Spreads
econompicdata.blogspot.com — With Agency MBS trading at Treasury levels and Investment Grade Credit spread at narrower levels than in... June '08 (i.e. pre "system might crash"), I think the statement "we've come a long way in 12 months" is probably too much of an understatement.  ... (more) Historical Spreads
Simple Indicator YTD Review: Falling 10-year Yields Strategy
Simple Indicator YTD Review: Falling 10-year Yields Strategy
marketsci.wordpress.com — This is the LAST POST in a series looking at how some of the simple indicators we’ve... talked about in the past fared through this very interesting trading year. In this post we look at using the Falling 10-year Yields strategy to trade the S&P ... (more) Simple Indicator YTD Review: Falling 10-year Yields Strategy
Exclusive: Republican To Place Additional Hold On Bernanke In Senate Banking Committee
news.firedoglake.com — As Ben Bernanke’s confirmation hearing begins in the Senate Banking Committee, a source tells FDL News that... one Senate staffer and an outside source confirmed to him that at least one Republican on the committee will also place a hold on the Federal ... (more) Exclusive: Republican To Place Additional Hold On ...
Analysis Of The Key Economic Reports (Grade: C-): Data Remains Scary But Dollar Rules The Roost...
Analysis Of The Key Economic Reports (Grade: C-): Data Remains Scary But Dollar Rules The Roost...
inthemoneystocks.com — The economic news flooded the market this morning as Jobless Claims came in better than expected while... Retail Sales and ISM Services came in far worse than expected. Let's analyze. Jobless Claims came in far better than expected. What does it mean? Well I would personally put an asterisk next to (more) Analysis Of The Key Economic Reports (Grade: C-): Data ...
Deregulation? Bad News for Investors
hf-implode.com — " Beginning in the 1990’s, various administrations have taken steps to diminish the rules and regulations that... protected investors. These initiatives ranged from dismembering the Glass Steagall Act, to changing the law to protect corporations from legal action by shareholders, to declawing the ... (more) Deregulation? Bad News for Investors
FRB: Testimony--Bernanke, Confirmation hearing--December 3, 2009
federalreserve.gov — Chairman Ben S. Bernanke Confirmation hearing Before the Committee on Banking, Housing, and Urban Affairs, U.S. Senate,... Washington, D.C. December 3, 2009 Chairman Dodd, Senator Shelby, and members of the Committee, I thank you for the opportunity to ... (more) FRB: Testimony--Bernanke, Confirmation hearing--December ...
AmTrust's bankruptcy filing may be a lesson learned from WaMu
cleveland.com — By Teresa Dixon Murray, The Plain Dealer December 02, 2009, 9:10PM amtrust-bank-mentor.jpg Plain Dealer file The Amtrust... branch on Mentor Ave. in Mentor. When AmTrust Financial Corp. filed for bankruptcy protection this week, it may have been trying ... (more) AmTrust's bankruptcy filing may be a lesson learned from ...
Some Questions For Mr. Bernanke
baselinescenario.com — On Thursday, Ben Bernanke will appear before the Senate Banking Committee, to begin his reconfirmation process as... chairman of the Federal Reserve Board. Based on committee members’ public statements , Bernanke already appears to have enough votes on his side. But Thursday’s hearing and the ... (more) Some Questions For Mr. Bernanke
Securities Docket A.M. News Wire for 2009-12-03
Securities Docket A.M. News Wire for 2009-12-03
securitiesdocket.com — Petters Convicted in $3.6 Billion Ponzi Scheme http://bit.ly/7w8jCb # House of Representatives Votes to Increase SEC Subpoena... Power http://bit.ly/6xqZ9a # Paul Hastings Lawyers Jailed in Hong Kong for American-Style Practices http://bit.ly/7XHQvL # Judge ends Enron shareholder ... (more) Securities Docket A.M. News Wire for 2009-12-03
Remarks by Brian P. Sack: The Fed's Expanded Balance Sheet
newyorkfed.org — Remarks by Brian P. Sack at the Money Marketeers of New York University, New York City... (more) Remarks by Brian P. Sack: The Fed's Expanded Balance Sheet
Don't expand the Fed's roles and responsibilities
washingtonpost.com — Comments that include profanity or personal attacks or other inappropriate comments or material will be removed from... the site. Additionally, entries that are unsigned or contain "signatures" by someone other than the actual author will be removed. ... (more) Don't expand the Fed's roles and responsibilities
Jobs - A Solution at Hand?
brucekrasting.blogspot.com — Big job confab at the White House today. Some very smart folks are in attendance. No doubt... but that there will be some good recommendations made. The question is can we afford to implement any of them? I am as certain as I can be that one of the ... (more) Jobs - A Solution at Hand?
The Independent
independent.co.uk — Britain's biggest mortgage lenders say more and more of their customers are choosing to overpay on their... home loans, frustrating attempts by the Bank of England to boost the economy with ultra-low interest rates and lower monthly mortgage bills, a ... (more) The Independent
Open Thread: Is the Fed Chair’s Reappointment at Risk?
ritholtz.com — Is Ben Bernanke a sure thing? Not so fast, says Senator Bernie Sanders of Vermont. Several other... Senators are looking to showboat the reappointment hearings to push for auditing of the Fed or other such issues. This raises an interesting ... (more) Open Thread: Is the Fed Chair’s Reappointment at Risk?