The Senate overwhelmingly votes to end a subsidy and tariff meant to protect domestic ethanol production. There's a catch though: the legislation is tacked onto an economic development bill that is not expected to pass. [View news story]
Why the $&$^* cant anyhing be judeged and voted on independently based on its own merits?
Americans seem torn over raising the debt limit, according to a new ABC/WaPo poll. A large majority say the economy likely would suffer serious harm if Congress fails to give the government more borrowing authority. Yet barely half support raising the debt limit, even if lawmakers also sharply cut spending. [View news story]
Americans seem torn over raising the debt limit, according to a new ABC/WaPo poll. A large majority say the economy likely would suffer serious harm if Congress fails to give the government more borrowing authority. Yet barely half support raising the debt limit, even if lawmakers also sharply cut spending. [View news story]
Americans seem torn over raising the debt limit, according to a new ABC/WaPo poll. A large majority say the economy likely would suffer serious harm if Congress fails to give the government more borrowing authority. Yet barely half support raising the debt limit, even if lawmakers also sharply cut spending. [View news story]
About time we take our medicine, it will get much worse before it gets better. It is time for this irresponsible generation to pay its bills and leave a good country for the next generation, not pillar and plunge it.
Rep. Barney Frank - the Frank in "Dodd-Frank" - held a Wall Street fundraiser yesterday, less than a year after authoring a sweeping crackdown on the financial industry. Some bankers saw it as a striking display of chutzpah, even by Wall Street standards, but most were not about to miss the chance to hobnob with - and donate to - one of Wall Street’s top cops. [View news story]
Frank = "one of Wall Street’s top cops". And we wonder why this country is in the mess it is in?
Asking the Fed to print more money is not the answer, says Dallas Fed chief Dick Fisher in remarks on CNBC. Expecting robust 2nd half growth, he says there is no need for QE3. Tough rhetoric out of Fisher is no surprise, but so far, he has yet to dissent on a FOMC vote. [View news story]
"Expecting robust 2nd half growth, he says there is no need for QE3." UH, I am speachless. Some of these tools are so clueless, how the hell were they voted into anything?
Tech bubble? Groupon (GRPN) reminds Conor Sen of a Ponzi scheme: "The company owes $230M more than it has, appears to be burning through $100M or more a quarter, and is using money raised from later investors to pay back early investors." [View news story]
I am in agreement that everything this administration is doing policy wise is counter-intuitive. And while I would be the last person to be a conspiracy theorist, this is getting so bad I really must think they have other agendas. When this whole thing goes crashing down (and it will) eventually. It will be the perfect storm and I have a hard time believing that all these so called smartest people in the room were asleep at the wheel. Which leads me to believe this is all done on purpose. I hope I am wrong, but my gut is usually right.
Dick Bove talks up QE3 with a twist, claiming that the Fed could unleash all the net free reserves held by banks: "There is a huge amount of money available to the economy if the $1.486T in net free reserves [are] released... The American economy has functioned without assistance from its banking industry for the past 2 1/2 years. It may need this assistance now." [View news story]
A 2-2.5% GDP growth? More like .03-.08%, dont doubt me. There is no growth, and I am starting to think it is being engineered that way. Dreken makes a good point that it wont be for several years till any real attempt at a new policy takes places, by then it may be too late. And if Obummer gets re-elected the next great depression will be here.
4 Regional Banks You Should Consider Shorting [View article]
I do not consider CMA to be overlevered compared to the rest of the industry. They have cleaned up the balance sheet and while the sector has been beaten down for several years now, CMA is much better positioned than many others. While CMA may go down short-term in sympathy with the rest of the market and the end of QE2. Any substantial drice decline from here would be considered a buying opportunity. Looking out several years the price will be higher and will be suported by a substanitally higher dividend yield.
David Kotok is happy to fade Meredith Whitney's bet against municipal debt. An improving economy has state and local revenues on the rise at the same time budgets are being cut, writes Kotok. "We're going to dig in our heels on the other side." [View news story]
What improving economy? All smoke and mirrors, any increase in revenues to the federal govt and states will be short lived.
The Senate overwhelmingly votes to end a subsidy and tariff meant to protect domestic ethanol production. There's a catch though: the legislation is tacked onto an economic development bill that is not expected to pass. [View news story]
Is Pandora Worth $2 Billion? [View article]
Tech IPOs charge on: After raising its initial range of $7-$9 up to $10-$12, Pandora (P) prices 14.7M shares at $16 each, valuing the online-music company at $2.6B. It expects to continue losing money through 2012. Overvalued? Depends on its ad model. [View news story]
Americans seem torn over raising the debt limit, according to a new ABC/WaPo poll. A large majority say the economy likely would suffer serious harm if Congress fails to give the government more borrowing authority. Yet barely half support raising the debt limit, even if lawmakers also sharply cut spending. [View news story]
Americans seem torn over raising the debt limit, according to a new ABC/WaPo poll. A large majority say the economy likely would suffer serious harm if Congress fails to give the government more borrowing authority. Yet barely half support raising the debt limit, even if lawmakers also sharply cut spending. [View news story]
Americans seem torn over raising the debt limit, according to a new ABC/WaPo poll. A large majority say the economy likely would suffer serious harm if Congress fails to give the government more borrowing authority. Yet barely half support raising the debt limit, even if lawmakers also sharply cut spending. [View news story]
Rep. Barney Frank - the Frank in "Dodd-Frank" - held a Wall Street fundraiser yesterday, less than a year after authoring a sweeping crackdown on the financial industry. Some bankers saw it as a striking display of chutzpah, even by Wall Street standards, but most were not about to miss the chance to hobnob with - and donate to - one of Wall Street’s top cops. [View news story]
Asking the Fed to print more money is not the answer, says Dallas Fed chief Dick Fisher in remarks on CNBC. Expecting robust 2nd half growth, he says there is no need for QE3. Tough rhetoric out of Fisher is no surprise, but so far, he has yet to dissent on a FOMC vote. [View news story]
Tech bubble? Groupon (GRPN) reminds Conor Sen of a Ponzi scheme: "The company owes $230M more than it has, appears to be burning through $100M or more a quarter, and is using money raised from later investors to pay back early investors." [View news story]
"Fed is going to skip QE3 and go right to QE4," says a wag following the terribly weak NFP report. [View news story]
I am in agreement that everything this administration is doing policy wise is counter-intuitive. And while I would be the last person to be a conspiracy theorist, this is getting so bad I really must think they have other agendas. When this whole thing goes crashing down (and it will) eventually. It will be the perfect storm and I have a hard time believing that all these so called smartest people in the room were asleep at the wheel. Which leads me to believe this is all done on purpose. I hope I am wrong, but my gut is usually right.
Dick Bove talks up QE3 with a twist, claiming that the Fed could unleash all the net free reserves held by banks: "There is a huge amount of money available to the economy if the $1.486T in net free reserves [are] released... The American economy has functioned without assistance from its banking industry for the past 2 1/2 years. It may need this assistance now." [View news story]
"Fed is going to skip QE3 and go right to QE4," says a wag following the terribly weak NFP report. [View news story]
A 2-2.5% GDP growth? More like .03-.08%, dont doubt me. There is no growth, and I am starting to think it is being engineered that way. Dreken makes a good point that it wont be for several years till any real attempt at a new policy takes places, by then it may be too late. And if Obummer gets re-elected the next great depression will be here.
"Fed is going to skip QE3 and go right to QE4," says a wag following the terribly weak NFP report. [View news story]
4 Regional Banks You Should Consider Shorting [View article]
David Kotok is happy to fade Meredith Whitney's bet against municipal debt. An improving economy has state and local revenues on the rise at the same time budgets are being cut, writes Kotok. "We're going to dig in our heels on the other side." [View news story]