montanamark

More from President Obama: It's time to wrap up the Troubled Asset Relief Program. "I don't think there has been a less loved - or more necessary - emergency program than TARP." He says savings of $200B from TARP creates some "fiscal room." He also proposes $50B investment in infrastructure improvement, and incentives for energy retrofits for homes and for manufacturing renewable energy equipment.

LOL - "savings" - are you kidding? print funny $ circulate to chosen banks and then recount it as new when some is recirculated back.
TARP was intended to deal with problem assets - whats been done?

The Treasury blocks Fannie Mae's sale of billions in tax credits (almost certainly headed to Goldman Sachs (GS)), saying it would be a bad deal for taxpayers.

dont worry, GS will find a way to get what it wants. obamacare was allegedly dead a month ago or so. dems just wait for muffled public outcry to die down and then do it. GS can concentrate on stealing flu vaccine for the next few days.

Goldcorp (GG): Q3 EPS of $0.19 beats by $0.03. Revenue of $692M (+25%) vs. $614M. (PR)

nice, but net profits fell 62% during a time of record gold prices

The Fed's statement didn't hold a lot of intrigue, so let Karl Denninger translate it for you: "We successfully talked some people into rebuilding inventory and spending money they don't have. Suckers."

I'm interested in details on the feds optimism. things are improving but we continue to keep rates at zero and flood the market with cash.
huh?

Buffett: "Our country's future prosperity depends on its having an efficient and well-maintained rail system. Conversely, America must grow and prosper for railroads to do well. Berkshire's $34B investment in BNI is a huge bet on that company, CEO Matt Rose and his team, and the railroad industry. Most important of all, however, it's an all-in wager on the economic future of the U.S. I love these bets." (PR)

bet on america? buffet votes for obama, for higher taxes, more regulation and socialist policies and then expects great results.

According to this chart of the dollar/oil inverse correlation, naysayers on $100-plus crude better hope for a stronger dollar, soon. More here.

looks great for crude longs

The New York Times (NYT +4.8%) will cut newsroom staff by 8% - 100 positions - by year's end, according to a staff memo. Layoffs would come if voluntary buyouts don't reach the number. Details at NYT's Media Decoder blog.

hello? they dont do "news"
question is, why do they still have "news" positions at all

Banks got rescued by a Treasury secretary more favorable to them than any in a generation. So, Joe Nocera asks, how can they shamelessly oppose consumer protection as defined by Geithner? Congress debates protective measures this week that are in danger of getting watered down.

not hard to figure out. chosen banks get favored treatment because they contribute large sums to the current admin.; if consumers collectively lobbied and gave campaign cash to the politicians they would get similar favors. the world of whoredom. we have corrupt,
self serving "leaderaship."

Paul Krugman says you need to read today's WSJ editorial "The Dollar Adrift" with an eye to the paper's long-term goldbugism: Focusing on currency stability over domestic recovery is a path to disaster.

oh, people cant wait to get more koolaid advice from krugman, what a joke.

As credit-card reforms make subprime borrowers less attractive customers, JPMorgan Chase (JPM) - benefiting from conservative expansion strategy and low default rates - is challenging American Express' (AXP) longtime dominance of wealthy and small-business customers. AXP's member rewards GM is unperturbed: "They are trying to fish where the fish are, and we have been fishing in those waters for 50 years."

LOL challenge? Chase is the worse! It has abusive rates and unfair terms. Almost any other bank will provide better terms and service.
Small businesses should run from Chase. Chase is also abusing retail consumers.

Goldman Sachs' (GS) political action committee has ground to a halt: With a balance of $25,483, it hasn't taken a penny from employees in more than a year. It's a mystery, unless Goldman already has all the influence it needs.

hilarious. they already own ALL of washington. who is left to bribe, er
I mean lobby

So much for that brief fling with savings: The latest BEA release shows that the U.S. personal savings rate fell to 3% in August.

DUH what do they earn .5%? obama and ben destroying the dollar and they want americans to "save" dollars. yeah thats the ticket - put it in a cd so some bank can lend it out at 25%

Another grim view on employment: Hours worked per person continues its nosedive, to the lowest average recorded (see chart) - another hint that the headline jobless numbers are hiding an awful lot more frustrated workers.

good grief how many obama worshippers are there? do you guys get paid to mark things negative if they dont praise your false god?
this is becoming as infected as yahoo. do the paid koolaid drinkers get counted in the employment #s

Just 19% say personal finances are getting better and 45% say they're getting worse, according to Rasmussen's most recent Consumer Confidence index. Among investors, 25% say things are improving, while 38% think they're still going downhill.

the consumer doesnt have the fed giving it 0% money and buying back its debt and backing its bonds

The Fed's balance sheet declines for the first time in eight weeks: down 0.8% ($17.6B) to 2.14T. The Term Auction Facility declined by $17.6B, to $178.4B, and currency swaps fell $2.37B to $56.8B. Increases came in agency debt and Treasurys.

so, one of these days we will find out what the market looks like w/o nonstop fed props