Analysts are alarmed over the potential for a U.S-China trade war after the selection of Peter Navarro as the head of the White House National Trade Council.
High frequency trading (HFT) of securities has become a high-profile target on both sides of the Atlantic in recent weeks. On September 2, Italy began imposing a tax of 0.02 percent on many order changes and cancellations that occur within 0.5 seconds of the original order. Later that month, the managers of the world’s largest […]
As financial markets shuddered and then nearly imploded in 2008, the Federal Reserve opened its vault to the corporate world — both domestic and foreign — on a scope much wider and deeper than previously disclosed.
An arm of the Federal Reserve, then led by now-Treasury Secretary Timothy Geithner, told bailed-out insurance giant AIG to withhold key details from the public about overpayments that put billions of extra tax dollars in the coffers of major Wall Street firms, most notably Goldman Sachs. The sordid tale unfolds in a series of e-mails between the company and the New York Fed while Geithner was its president.
On Wall Street the past year was filled with one opportunity after another to fix the myriad fundamental structural deficiencies — revealed all too painfully by the financial crisis — that continue to plague the nation’s economic outlook. But as we enter 2010, not a single one of the “systemic failures” in the financial system has been adequately addressed, let alone resolved. This ongoing failure to act in the face of the worst economic downturn since the Great Depression is especially disappointing since President Barack Obama was elected, in part, on a promise to bring constructive and lasting change to the canyons of Wall Street.
A ‘Must See’ political documentary by Michael Moore that provides a clear-eyed view of American-style capitalism in the larger context of the global financial crisis. He clearly unravels the mystery of all the moving parts and tells a . He does a brilliant job of defining previaling sentiment — the zeitgeist, the angst of the present public mood.
Mohamed El-Erian, the highly respected chief portfolio manager for the Harvard Endowment, and currently chief investment officer for the global investment manager, PIMCO notes that the momentum for meaningful financial reform is stalling in spite of clear evidence that financial activities have far outpaced the regulatory infrastructure. And some banks are returning to the bad habits that almost destroyed them.
In the spirit of April Fools Day, a prescient George Carlin spoof of who really controls things in America. His insight is eerily relevant to the Wingnuttery of today’s debate about the fundamental character of our nation.
AIG Executives have been given huge bonuses with taxpayer money, and everyone is furious. AIG claims that they have contractual obligations which predate the largest private sector bailout in history. Politicians say these obligations are secondary to satisfying taxpayers who are keeping them above water. Pundits, smelling blood in the water, have come out in […]
Clifford Levy writes an incisive peice about the current Ukranian financial crisis in today’s New York Times. The Ukrain experience has close parallels to what’s happening in the U.S. and western Europe, but on a smaller stage. Could this be where we are headed..??
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