The Wall Street Journal – ‘Short-Term’ Problem of Volcker Rule Banks’ trading with their own capital, or “proprietary trading,” isn’t a criminal offense. But it is about to become illegal due to the “Volcker rule.” The rule—aimed at curbing risk-taking by financial groups—is the most controversial measure in the postcrisis regulatory overhaul. No conversation, cocktail… Continue reading The Volcker Rule
The New York Times – GRETCHEN MORGENSON: A Fog Warning, Again, for Municipal Bonds FEW areas of finance are as opaque as the municipal bond market. Which is astounding, when you consider how crucial this $4 trillion market is to the nation’s economic life. Sure, munis seem boring. But without them, state and local finances… Continue reading Munis
The Politico – PayPal founder Peter Thiel donates $1.7M to Ron Paul PAC PayPal co-founder Peter Thiel donated another $1.7 million in January to the super PAC supporting Ron Paul’s presidential bid, according to documents released Monday. Thiel, a billionaire who runs the hedge fund Clarium Capital, has donated a total of $2.6 million to… Continue reading Hedge Funds
The Economist – Europe and the euro: A way out of the woods The euro may survive brinkmanship over Greece, but the road to recovery will be long and hard Two moods are competing in Europe: the feeling of injustice that set Athens ablaze last weekend, and the gathering sense of progress as governments act… Continue reading Europe
The Wall Street Journal – Traders Manipulated Key Rate, Bank Says A group of traders and brokers successfully managed to manipulate an interest rate that affects loans around the world, one of the banks being investigated has told regulators. In a court filing in Ottawa, Canada’s Competition Bureau said a bank it didn’t identify has… Continue reading LIBOR
The New York Times – Germany vs. the Rest of Europe The German economy has been one of the wonders of the world over the last couple of years. While the rest of Europe staggered, German unemployment fell to the lowest level in decades. This week the Organization for Economic Cooperation and Development, the club… Continue reading Germany
The Economist – Hedge-fund closures: Quitting while they’re behind Some hedge funds are throwing in the towel THE past few years have been “as miserable as I can remember”, says Johnny Boyer of Boyer Allen Investment Management, a British hedge fund focused on Asia. The fund, which looked after $1.9 billion at its peak, faced… Continue reading Hedge Funds
Bloomberg.com – Record $6 Trillion of Fake U.S. Bonds Seized Italian anti-mafia prosecutors said they seized a record $6 trillion of allegedly fake U.S. Treasury bonds, an amount that’s almost half of the U.S.’s public debt. The bonds were found hidden in makeshift compartments of three safety deposit boxes in Zurich, the prosecutors from the… Continue reading The Mafia’s Version Of QE
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Bloomberg.com – Too Much Optimism Points to U.S. Stock Losses (no link) Investors are showing enough optimism about U.S. stocks that “the risk of a short-term pullback” is rising, according to Myles Zyblock, chief institutional strategist at RBC Capital Markets. The CHART OF THE DAY displays two indicators that Zyblock used to support his conclusion… Continue reading Is The Economy Or Stock Market Climbing A Wall Of Worry?
Watch the latest video at video.foxbusiness.com Comment Jim Bianco was on Fox Business yesterday discussing China and the European crisis. To view the interview click on the image above. To view any of our recent interviews click here.