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  • No, don't let Goldman be Goldman (GS) - that should be the whole point of financial reform, Wallace Turbeville says. "Wall Street’s attention must turn away from churning derivatives on existing products and instruments and toward growth of the economy and jobs. If more government intervention is needed to force this turn, so be it."  [View news story]
    Here's an idea - let's allow firms and individuals to act in their own self interest free from government intervention. I'm guessing that would grow the economy and jobs much faster than any micromanagement policy of the clowns in the current administration.
    Jul 13 03:16 PM | 1 Like Like |Link to Comment
  • Henry Paulson finds much to like in the financial reform bill but believes that such measures would have needed to already be in place to fully prevent the crisis. “We would have loved to have something like this for Lehman Brothers,” he tells Andrew Ross Sorkin. If he had the authority to take over Lehman and AIG, Paulson says it would have stopped the panic endangering other firms.  [View news story]
    Does he really believe that the government taking over large financial firms wouldn't have created a panic? It's not like faith in government is at an all time high.
    Jul 13 10:03 AM | Likes Like |Link to Comment
  • Apple (AAPL -3.1%) is apparently less than pleased with Consumer Reports' decision not to recommend the iPhone 4, and Apple Discussions forum administrators have been pulling down all threads related to the negative report.  [View news story]
    Nice reaction - stifle conversation rather than making a better product. It's just one non-recommendation, and there are plenty of positive reviews.
    Jul 13 10:00 AM | 8 Likes Like |Link to Comment
  • The Interior Department will issue a new offshore drilling moratorium later today that will end Nov. 30 or sooner, according to reports. Unlike the initial moratorium, which was blocked by the courts, the new one has a specific end date, and the government would be "open to modifying" the new suspensions if the oil industry can show it can operate safely in deep waters.  [View news story]
    What - is all offshore drilling dangerous until 11:59pm Nov 30, but then magically safer at 12am Dec 1 simply b/c some clown in the administration says so?
    Jul 12 03:45 PM | 6 Likes Like |Link to Comment
  • More suitors salivating over Playboy Enterprises' (PLA +35.3%) prospects, as Penthouse owner FriendFinder Networks responds to Hugh Hefner's buyout offer by saying it will make its own offer - though one that faces a big hurdle in Hefner.  [View news story]
    I'm guessing the DD (no pun intended) work on whatever deal emerges will be much more interesting than other transactions.
    Jul 12 12:18 PM | Likes Like |Link to Comment
  • The SEC is reportedly moving quickly on its Flash Crash response, with requirements for market makers to submit quotes less than 10% away from a stock's current price and the elimination of stub quotes. Market-making rules are "front and center" for the agency as it tries to ensure liquidity during market stresses.  [View news story]
    Quote from the article: "The Flash Crash, which is still unexplained..."

    So the SEC is moving quickly (if 2 months and counting can be considered quickly) to issue new rules meant to prevent the recurrence of something that is still not fully understood.

    Makes sense to me.
    Jul 9 11:32 AM | 1 Like Like |Link to Comment
  • The question of whether the economy is headed for a double-dip - and will take the stock market with it - could be answered when Q2 earnings season kicks off next week. S&P stocks are projected to see 27% earnings growth over depressed year-ago levels, but "It's not really going to be about the numbers themselves... It's all about the outlook."  [View news story]
    Most outlooks will be cautiously optimistic at best. Why raise expectations during a period of so much uncertainty?
    Jul 8 04:42 PM | 4 Likes Like |Link to Comment
  • In a major step toward an AIDS vaccine, U.S. government scientists have discovered three powerful antibodies, the strongest of which neutralizes 91% of HIV strains, more than any AIDS antibody yet discovered.  [View news story]
    It's only been 20+ years to get to this point. That may actually be fast by government standards. Wonder what side effects will be discovered after vaccinations begin.
    Jul 8 04:04 PM | Likes Like |Link to Comment
  • The mayor of Milan, Italy, says the city is likely to approve artist Maurizio Cattelan's controversial sculpture of a "crippled hand," missing all fingers except the upraised middle one. Cattelan insisted the sculpture be placed in front of the Italian Stock Exchange.  [View news story]
    I suggest a replica to be placed in front of Congress
    Jun 17 01:22 PM | 6 Likes Like |Link to Comment
  • "It's going to be a horrible roller coaster in Europe," but attention will turn to U.S. problems once Europe eventually settles down, according to Matthew Bishop, U.S. business editor for The Economist. "The longer-term issues for America are really, really serious," and a new Congress after the November elections will not bring a return to fiscal discipline in the U.S.  [View news story]
    A return to fiscal discipline? When has the government ever been frugal? Kind of scary if W's big government conservatism is a model of prudence.
    Jun 4 02:50 PM | Likes Like |Link to Comment
  • Fannie Mae (FNM) and Freddie Mac (FRE) are on their way to becoming the single biggest cost to taxpayers from the financial crisis - more than banks, car companies or AIG (AIG). But while Washington is on the verge of enacting a broad financial overhaul, Fannie and Freddie are too hot to handle.  [View news story]
    It has everything to do with government elitists (of both parties) believing they can micromanage sectors of the economy better than private individuals in free markets. Anyone can see that Fannie and Freddie are disasters, and any financial reform is embarrassingly lacking without touching these two behemoths. Speaking of holding a bag, how are big government policies working out in Europe right now?
    May 24 10:26 AM | 3 Likes Like |Link to Comment
  • Fannie Mae (FNM) and Freddie Mac (FRE) are on their way to becoming the single biggest cost to taxpayers from the financial crisis - more than banks, car companies or AIG (AIG). But while Washington is on the verge of enacting a broad financial overhaul, Fannie and Freddie are too hot to handle.  [View news story]
    This should make us all feel better about the government's (in)ability to eventually run healthcare. Why should the clowns currently in power touch Fannie / Freddie - they probably have their eyes on a cushy seat there if / when they are voted out in November.
    May 24 10:08 AM | 2 Likes Like |Link to Comment
  • The rally in stocks that began 14 months ago should remain intact if history is a guide, a Birinyi analysis says. "If we assume the bull market ended on April 23, it would be one of the weakest and shortest gains in the last 48 years. A more likely scenario is that the current bull market is experiencing its first official correction."  [View news story]
    As the saying goes: this time is different
    May 21 03:53 PM | 1 Like Like |Link to Comment
  • The bulls' camp is a person shorter today, as Dan Sullivan of the Chartist mails clients to say he's going from 100% in equities to 100% in cash.  [View news story]
    I'm glad I'm not paying for the advice if it leaks out a few hours later.
    May 19 02:19 PM | 1 Like Like |Link to Comment
  • Credit and Debit Cards Under Pressure [View article]
    Government policies / regulations backfiring on those intended to "benefit"? I'm shocked - shocked!
    May 18 10:26 AM | Likes Like |Link to Comment