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Two Opposing Amendments Emerge That Seek To Either Perpetuate The Fed's Secrecy, Or Overturn It

Wed, 18 Nov 2009 03:33:10 GMT

As the time to make or break the Fiat Money Overlords (no, not Chrysler), aka the Successor to the Second Bank of The United States which President Andrew Jackson managed to disassemble in 1832, yet which came back with a vengeance in 1913 under the guise of the Federal Reserve, approaches, two independent amendments emerged today: one drafted by Fed transparency proponents Ron Paul and Alan Grayson (found here) and one by Bank of America and Citigroup's favorite Congressman, North Carolina democrat Mel Watt (found here). As a reminder, here is a list of the [More...]

Fed's Bill Dudley Explains Bank Runs, Discusses Collateral Risks, Suggests Way To Prevent Systemic Collapse

Sat, 14 Nov 2009 20:25:44 GMT

An impressively comprehensive presentation by Bill Dudley before the Center for Economic Policy Studies Symposium earlier, discusses, and ties in, all the key concepts Zero Hedge has been discussing over the past several months, among these the tri-party repo system, bank runs (what and why), collateral, moral hazard, maturity mismatch, unsecured markets, Primary Dealer Credit Facility, Commercial Paper Funding Facility, and liquidity. In fact, at some points in the speech we get the feeling Mr. Dudley is indirectly refuting some of Zero Hedge's recent allegations vis-a-vis the Fed's actions and regulatory oversight. The presentation is largely devoid of bias except for some of the proposals on how to avoid future systemic meltdowns, which of course are moral hazard prevention lite and philosophy heavy. Not a lite piece of reading, yet recommended for all who want a grasp of the big picture from the Fed's[More...]

Over $1 Trillion In Excess Reserves? Not A Problem According To Goldman Sachs

Wed, 11 Nov 2009 15:59:56 GMT

As we pointed out recently, excess reserves at banking institutions have hit yet another all time record over $1 trillion, courtesy not just of the Fed's burgeoning reliquification efforts via direct asset purchases, but also due to its strategy to wind down the SFP program, and keep the Federal debt level under the legal cap, thereby providing even more liquidity to banks, to the tune of$185 billion. Yet if you thought that this inability to pass liquidity over into the broader currency pool was something to be concerned about (you know, that whole lending to consumers thing), you were wrong. Or so claims Goldman Sachs in this extended expose on why central planning is in fact good for[More...]

November 10, 2009

Wed, 11 Nov 2009 00:12:49 GMT

The question of whether central banking and bank regulation functions should be separated or not is heating up again in the States: Senator Christopher Dodd will propose creating a single U.S. regulator that would strip the Federal Reserve and Federal Deposit Insurance Corp. of bank- supervision authority, said a person familiar with the matter.[More...]

Bear Stearns Tannin And Cioffi Found Not Guilty of Misleading Investors

Tue, 10 Nov 2009 21:54:24 GMT

John Bougearel Well that is a surprise. On April 22 2007 Tannin e-mailed Cioffi that the “subprime market looks pretty damn ugly and could be toast” and further suggested that they “should close down the funds immediately” if projections for the CDO Market were anywhere near accurate. Three days later on April 25 Tannin told investors on a conference call “We’re very comfortable with exactly where we are.”[More...]

A Common Tale On Wall Street

Tue, 10 Nov 2009 21:35:19 GMT

I’ve said it before but it bears repeating: the multi-million dollar frauds uncovered in the past few years could never have occurred with at least tacit support of major Wall Street firms. Sometimes their support is a function of negligence, other times Wall Street is an active aider and abettor. We received yet another example of this yesterday in the form of a settlement agreement between several Wall Street firms and a bankruptcy trustee looking after the interests of investors - many of whom are elderly retirees - who purchased paper issued by American Business Financial Services, (ABFS) Inc., a subprime lender that went bankrupt in 2005.[More...]

Massive Revolutionary Changes

Mon, 09 Nov 2009 13:47:01 GMT

A few years ago, when we first began this journey together, we warned that the U.S. government was leading us to a future banking panic. We warned about the housing bubble that was about to burst.[More...]

5 C's Of Credit

Sun, 01 Nov 2009 16:01:18 GMT

Before the era of Frankenstein Finance and the fanatical focus on fee-based income, lenders tried to hold themselves out as models of probity (for the skeptics out there, I did say "try."). Those responsible for making credit-granting decisions and looking after the interests of shareholders also demanded that borrowers meet certain standards before they would see even a dime of their employers' money.[More...]

Crucial Development For Financial Markets

Thu, 29 Oct 2009 16:14:27 GMT

"Life all comes down to a few moments. This is one of them." -Bud Fox, Wall Street Looking back on his sixteen year career in finance, it's been Macro Man's experience that each year is often defined by a handful of critical days or events. While Bud Fox had the benefit of knowing how important his visit to Gordon Gekko's office would be, it's often not quite as obvious in real time how important an event will be.[More...]

Too Big To Fail: Why The Big Banks Should Be Broken Up, But Why The White House And Congress Don't Want To

Mon, 26 Oct 2009 03:47:49 GMT

And now there are five -- five Wall Street behemoths, bigger than they were before the Great Meltdown, paying fatter salaries and bonuses to retain their so-called"talent," and raking in huge profits. The biggest difference between now and last October is these biggies didn't know then that they were too big to fail and the government would bail them out if they got into trouble. Now they do. And like a giant, gawking adolescent who's just discovered he can crash the Lexus convertible his rich dad gave him and the next morning have a new one waiting in his driveway courtesy of a dad who can't say no, the biggies will drive even faster now, taking even bigger risks.[More...]

BSC Harnessing Power of Wind

Sat, 05 Sep 2009 17:46:00 GMT

Sep. 5--As the wind picked up, the blades started to hum, akin to a table fan set on oscillate.
It was installed last week at Bismarck State College, behind the BSC Armory.
Representatives from BSC, Montana-Dakota Utilities and the North Dakota Department of Commerce spoke about the purpose of the turbine and the partnership that made it possible.

: iStockAnalyst.com Symbols Feed

Two Opposing Amendments Emerge That Seek To Either Perpetuate The Fed's Secrecy, Or Overturn It

Fed's Bill Dudley Explains Bank Runs, Discusses Collateral Risks, Suggests Way To Prevent Systemic Collapse

Over $1 Trillion In Excess Reserves? Not A Problem According To Goldman Sachs

November 10, 2009

Bear Stearns Tannin And Cioffi Found Not Guilty of Misleading Investors

A Common Tale On Wall Street

Massive Revolutionary Changes

5 C's Of Credit

Crucial Development For Financial Markets

Too Big To Fail: Why The Big Banks Should Be Broken Up, But Why The White House And Congress Don't Want To

BSC Harnessing Power of Wind

CP and Bahraini Bank Form Joint Venture

Al Salam Bank Prime City Office Worth More Than US$ 220 Million

Al Salam Bank Reports US$21 Million Net Profits for Q1-2009

Grant Wanted for Energy Center Study

Hearing Set on Control of Statler

Bahrain: Moody's Changes Outlook of NBB and BBK to Negative

Residents, Officials Sound Off Against Water Rate Increase

Energy Center Excites Crowd at Bismarck, N.D., College

As Bank Fails, Deposits Saved

BNS Split Corp. II Declares Quarterly Dividends - Nov 26 2008 2:48PM

BNS Split Corp. II Declares Quarterly Dividends - Sep 4 2008 2:07PM

Deutsche Bank to Issue ELEMENTS(SM) Exchange-Traded Notes Linked to Benjamin Graham(SM) Intelligent Value Indices

Wolf Haldenstein Adler Freeman & Herz LLP Commences Class Action Lawsuit on Behalf of the Bear Stearns Companies, Inc. Restricted Stock Units and Cap Units Recipients

TheMarkets.com Launches Broker Meeting Management Platform for the Buy-Side

Bear Stearns Stockholders Approve Merger

Mark & Associates, P.C. Files Arbitration on Behalf of Bear Stearns Shareholders

Standard & Poor's Announces Changes to U.S. Indices - 22-05-08 - May 27 2008 12:43AM

Wachovia Securities Joins Group of Brokers Offering TheMarkets.com's Broker Vote Program

Attorney Christopher Gray Informs Investors of Deadline of May 19, 2008 to File Lead Plaintiff Motions in Bear, Stearns Class Action, Right of Investors to Opt Out of Class Action

Form 3 BEAR STEARNS COMPANIES For: May 30 Filed by: Rauchenberger Louis (10K)

Form 3 BEAR STEARNS COMPANIES For: May 30 Filed by: Cavanagh Michael J (10K)

Form 3 BEAR STEARNS COMPANIES For: May 30 Filed by: Compton Paul H (10K)

Form 3 BEAR STEARNS COMPANIES For: May 30 Filed by: Brigstocke David HC (10K)

Form 4 BEAR STEARNS COMPANIES For: May 30 Filed by: NOVELLY PAUL A (10K)

Form 4 BEAR STEARNS COMPANIES For: May 30 Filed by: Bienen Henry S (10K)

Form 4 BEAR STEARNS COMPANIES For: May 30 Filed by: CAYNE JAMES E (10K)

Form 4 BEAR STEARNS COMPANIES For: May 30 Filed by: TESE VINCENT (10K)

Form 4 BEAR STEARNS COMPANIES For: May 30 Filed by: GLICKMAN CARL D (10K)

Form 4 BEAR STEARNS COMPANIES For: May 23 Filed by: GREENBERG ALAN C (10K)