Wall Street Breakfast: Must-Know News [View article]
At one time the rating agencies were compensated by adding a small fee to each bond transaction - thus the compensation actually came from the people who benefited from objective assessments. Why this isn't part of the proposed regulatory reform is anybody's guess.
Wall Street Breakfast: Must-Know News [View article]
The news on the Hartford's life insurance unit is disturbing. Presumably, life insurers - who also issue annuities - are being hit by the market's downdraft. And what are the guarantees for the millions who are dependent upon this industry for their retirement? Has there been any good coverage of the impact on this industry?
Wall Street Breakfast: Must-Know News [View article]
Interesting testimony in the Congressional hearings - particularly the rating agencies whose credibility is completely gone, and Greenspan who is being aggressively challenged by Waxman and others for his deregulation mantra - about Enron as well as the current mess. Maybe they will come up with something prospective.
Wall Street Breakfast: Must-Know News [View article]
An interesting juxtaposition of articles: 1. New rules against naked short selling by traders who are trying to bring down Fannie Mae and Freddie Mac, and with them the entire home mortgage industry in the name of creative destruction, er. profit. 2. One of the great Swiss banks has been helping US clients illegally avoid some $17 billion in taxes. I'm not sure what the UBS PR office has to say, other than that they will stop taking such clients in the US. There are a few changes that we can believe in.
Wall Street Breakfast: Must-Know News [View article]
Wall Street Breakfast: Must-Know News [View article]
Wall Street Breakfast: Must-Know News [View article]
Wall Street Breakfast: Must-Know News [View article]
Wall Street Breakfast: Must-Know News [View article]
Wall Street Breakfast: Must-Know News [View article]
1. New rules against naked short selling by traders who are trying to bring down Fannie Mae and Freddie Mac, and with them the entire home mortgage industry in the name of creative destruction, er. profit.
2. One of the great Swiss banks has been helping US clients illegally avoid some $17 billion in taxes. I'm not sure what the UBS PR office has to say, other than that they will stop taking such clients in the US.
There are a few changes that we can believe in.