Markets around the world are unsettled and the blame is being cast on the probable spread of the financial crisis in Greece to other nations including Portugal and Spain. Meanwhile election in the UK are adding to the uncertainty. The US dollar is the benefactor and US stocks are declining in lockstep–they have runup on a weaker dollar.
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May 8, 2010 - Markets - 0 Comments
President Obama’s independent commission set up to study what must be done to pair the US’s scary deficit situation has just announced that both taxes to raise revenue and cuts in spending are required and that everything must be on the table. Co-Chairman (R) Alan Simpson is quoted by Reuters as saying: “hell we could have double (digit) growth
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April 29, 2010 - Economy - 0 Comments
Senator Dodd is pushing his financial reform bill caving-in to the Fed’s request to be the super-regulator and ignoring the Fannie Mae, Freddie Mac quagmire. No doubt staying away from decisions on the GSE’s is related to debt acknowledgement on the US’s balance sheet but how in the world does anyone think serious reform of the financial system can
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April 24, 2010 - Politics - 0 Comments
The US Securiites & Exchange Commission (SEC) filed civil fraud charges against Goldman Sachs yesterday. According to the charges, Goldman deceived investors by representing both sides of a rigged deal and mislead the buyer that mortgages selected to be included in to a derivatives contract were made by an independent third-party. Instead Goldman let the short-seller virtually hand pick the mortgages. Goldman was paid $15 million dollars to structure the derivatives deal and claims to have lost money itself and denied the SEC’s charges. Goldman also said this was a “typcial” deal.
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April 17, 2010 - Economy, Markets, Politics - 0 Comments
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