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When Money Managers Provide Nothing More Than An Index Fund

February 9, 2012

Bloomberg.com – Mutual Fund Investors Should Crack Down on Closet Indexers Research by Antti Petajisto, a former New York University economist who now works for the investment firm BlackRock, shows that as of 2009, nearly a third of all the money in actively managed U.S.-focused mutual funds was run by “closet indexers,” whose investments tend… Continue reading When Money Managers Provide Nothing More Than An Index Fund

Newsclips

The Blame Game

February 9, 2012

The Financial Times – Steven Rattner:  Blame government failures, not capitalism, for the crisis Amid all the chest thumping and finger pointing about the failures of capitalism, let’s not forget the responsibility of governments across the globe. They relaxed regulatory requirements, turned blind eyes to dangerous – and in some cases, illegal – activities and… Continue reading The Blame Game

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Newsclips

Subprime Mortgages

February 9, 2012

The Wall Street Journal – U.S. Plans to Sue Banks Over Bonds Federal securities regulators plan to warn several major banks that they intend to sue them over mortgage-related actions linked to the financial crisis, according to people familiar with the matter. The move would mark a stepped-up regulatory effort to hold Wall Street accountable… Continue reading Subprime Mortgages

Newsclips

Greece Negotiations Day 643

February 9, 2012

The Financial Times – New Greek demands threaten debt deal Representatives of eurozone bail-out lenders were scrambling on Thursday to finalise an agreement with the Greek government after last-minute demands by Athens threatened to upend the deal. According to people briefed on the talks between lenders and Greek leaders, which ended early on Thursday morning,… Continue reading Greece Negotiations Day 643

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Newsclips

Sick Of The Greek Crisis?  So Are Greek People

February 9, 2012

MSNBC.com – In Greece, the crisis is making people ill (literally) Enough to make you sick Yiannis Varoufakis, a professor of economics at Athens University was just as blunt when he told me, “This is Greece’s Great Depression. If you look at the statistics it is indeed a deeper slump than what Greece went through… Continue reading Sick Of The Greek Crisis?  So Are Greek People

Newsclips

Cartoons

February 9, 2012

None Today

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Charts of the Week

Charts of the Week

February 8, 2012

Charts of the Week Topics Covered This Week Include: The Credit Crisis Celebrates Its Fifth Anniversary Today Earnings Update A Look At Payrolls An Updated Look At Credit Gold is On The Rise Again Did Weather Play A Role In January’s Payroll Number Did Weather Play A Role In January’s Payroll Number – 2 Money… Continue reading Charts of the Week

Newsclips

The Credit Crisis Celebrates Its Fifth Anniversary Today

February 8, 2012

<Click on chart for larger image> Comment We date the beginning of the credit crisis February 8, 2007 when HSBC’s Household International announced a huge loss due to subprime lending, requiring HSBC to restate its 2006 earnings. While we did not know it at the time, and most were asking what a subprime loan was,… Continue reading The Credit Crisis Celebrates Its Fifth Anniversary Today

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Newsclips

More On The Never-Ending Greece Story

February 8, 2012

Spiegel Online – It’s Time To End the Greek Rescue Farce Whether it be an escrow account or a budget commissioner, the latest demands by Germany show just how absurd negotiations over Greece’s future have become. It is high time to bring an end to this tragicomedy. For the past two years, Greece has wrangled… Continue reading More On The Never-Ending Greece Story

Newsclips

The Federal Reserve And Encouraging Risk

February 8, 2012

The Wall Street Journal – Bernanke Cites Risks to Progress of Recovery Federal Reserve Chairman Ben Bernanke warned lawmakers Tuesday that higher tax rates and federal spending cuts set to kick in next year could slow the economic recovery if not addressed. Bush-era tax rates are due to expire at year-end, which would cause rates… Continue reading The Federal Reserve And Encouraging Risk

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Newsclips

Saudi Arabia Pledges To Keep Crude Below $100

February 8, 2012

CNBC – Saudi Arabia Will Not Let Oil Go Above $100: Prince An “element of fear” is playing into the price of oil despite higher supply and decreasing demand, Saudi Prince Alwaleed bin Talal al Saud told CNBC Monday. Bin Talal, the billionaire member of the Saudi Arabian royal family who runs the Kingdom Holding… Continue reading Saudi Arabia Pledges To Keep Crude Below $100

Newsclips

Banks Are Buying CMOs

February 8, 2012

The Financial Times – US banks snap up bundled mortgage products Banks have been responding to low interest rates by snapping up billions of dollars of bundled mortgage products that resemble the sliced-and-diced debt some blame for the financial crisis. The products, known as “collateralised mortgage obligations,” or CMOs, group together securities backed by mortgage… Continue reading Banks Are Buying CMOs