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The Daily Bail
Radio Appearance Tonight With Larry Doyle of Sense on Cents @ 8PM EST
Larry Doyle of No Quarter Radio has invited me back. We will be discussing Lehman, health care, financial reform and more. Tune in tonight at 8pm EST. Listen to the broadcast >> Start listening at the 9 minute mark....
Latest Intrade Odds On Obamacare Passing Next Week
See the most recent trades >> Closed today at 45 but up to 60 (representing a 60% chance of House passage) in all recent after-hours trades. I assume there will be trading all weekend as we head into a vote early next week. ...
John Stossel On Government Run Health Care (VIDEO)
Video: August 2009 When Stossel was still with ABC. Short clip. Obama and Pelosi have decided to push for a vote next week. Get ready to dial Congress Monday morning. It's going to take everyone's best effort. --- (Screenshot...only email subscribers should click photo) ...
Video: Senator Robert Byrd -- March 10, 2010 "President Clinton got on the phone and called me also and pressed me to allow his massive health care bill to be insulated by reconciliation's protection." --- (Screenshot...video is above) ...
Nancy Pelosi Press Conference: House vote on health care may come as early as Monday (VIDEO)
Video: Nancy Pelosi committing political suicide -- Today March 12, 2010 From Politico House Speaker Nancy Pelosi told her members Friday to brace themselves for a climactic health care vote as early as next week, warning them to clear their schedules for next weekend and promising to stay in session until the...
Sean Penn Tells Bill Maher: Reporters Should Be Jailed for Calling Chavez 'Dictator' (VIDEO)
Video: Sean Penn on Bill Maher -- March 8, 2010 The quote comes at the 2:45 mark. --- UPDATE: Earlier today Penn had a problem with a reporter's question. We have the reporter's iPhone video. Pretty solid entertainment as Penn is forced to confront the insanity of his recent comment that he "hopes...
The investment blog
ICICI Bank in the mirror | Advantage zyaada
Let’s face it, India is a land of scandals, scams and belittled frequently for its lack of infrastructure and semi-literate breed of urban professionals called bank salesmen and other staff.. It is so. No the diatribe just hides the fact that ICICI Bank has been caught with its pants down...
Oh Lazy Suburb on a derelict Saturday..
I’m having another epiphany. After six week of a dozen articles a day, ( luckily 1 in 3 were photo essays with help from a great WP content partner) I am sapped enough to say, sorry..no more. The dozen articles I had in mind for today were in sequence turning...
A new BOP Economy in Thailand | Advantage zyaada
The Economy of a revolution The Philippines had People Power, the Czech Republic had its Velvet Revolution and Ukraine was swept up in an Orange revolt. Thailand has what might be termed the Toothpaste Brigade. The yellow T shirts in Bangkok last year WSJ reports could not complete a revolution and ares...
The wealth report | Advantage lifestyle
Each of India’s Mega cities that include Bangalore Ahmedabad Hyderabad and Pune could by themselves churn out in excess of $2 billion in stocks, bonds and allied funds. Actually The three mentioned would probably churn $1.25 bn in savings every year and the top 2 (Delhi, Mumbai) even go up...
We are not here to discuss fantasy stocks and fantasy sports, though they are no mean achievements in themselves. However, we did imagine ourselves running real exchanges trading sports men and celebs in the new social world. Closer to fruition, is a new futures exchange allowing hollywood execs to...
Revitalising Housing | Laying a global foundation
Home in the USA Over and above the $180 billion paid out to AIg to bail out its portfolio of illiquid low priced securities, AIG is still on the verge of the collapse as after the sale of Metlife and Prudential, it still has an outstanding $80 bn to pay off....
Notes on Credit Spreads» Notes on Credit Spreads | Discussing the Fundamental Price of Money.
Why Niall Ferguson Misses the Mark
Niall Ferguson’s most recent column in the Financial Times is surely not as controversial as his penmanship this past summer. However, the more recent column misses the mark in its accuracy. Mr. Ferguson portrays Greece as the start of a new round of sovereign contagion, much like the runs on...
Book of the Year - Lords of Finance
The Financial Times and Goldman Sachs have put forth their long list for Business Book of the Year. The winner amongst the many terrific nominees should be Lords of Finance by Liaquat Ahamed. That its richness in detail flows as easily as a Harry Potter novel is certainly laudable. It is...
A Time to Blame or a Time for Humility?
Robert Samuelson, (who in full disclosure was a former neighbor) writes in the Washington Post today blaming economists for misreading the current crisis, failing to give proper warning. Instead, they were “out to lunch”. In my opinion, a more thoughtful, introspective, and productive piece on the same subject was written some...
On Inflation, Martin Feldstein is Wrong
Martin Feldstein’s column, (June 29, 2009) on inflation opines that while federal stimulus is still necessary, a combination of looming deficits, federal reserve bond purchases, and skittishness of foreign investors are pushing yields on the 10 Year Treasury up to alarming levels. Feldstein’s major premise is detailed in the second paragraph...
The Fed’s Balance Sheet - Deflation Preventing and not Inflation Causing
The Federal Reserve released its combined 2008 Financial Statements on April 20, 2009. 2008 was stunning, with the balance sheet growing from $915 billion to $2.245 trillion. The major increases were in the commercial paper facility, foreign currency swaps, and term asset backed facility. Essentially - stabilizing mechanisms for short...
Ireland, Currency Controls, and Must Reads
Paul Krugman writes this week about the Irish Economy. In his column and blog, Paul notes Ireland is painfully transitioning, raising taxes to keep its fiscal position in line. Let’s pause. If you have not read Lords of Finance yet by Liaquat Ahamed, stop reading this blog (or any other) and...
The Kirk Report
"Every once in a while you must go to cash, take a break, take a vacation. Don't try to play the market all the time. It can't be done, too tough on the emotions." - Jesse Livermore In the wisdom......
Almost a year ago I asked members to submit the ticker of a stock they think would bring investors the most luck over the coming year. I remember at the time receiving more than a few emails suggesting I was......
In law school when I started trading actively on a full-time basis, I had little money and lots of interest in the market. In order to continue to improve myself and learn to be better, I had to find creative......
Dave Landry from DaveLandry.com will be here at 12:PM EST to take our questions. To attend the session live (or read it later) please visit the following link: Strategy Session: Dave Landry It is difficult to believe that it has......
We certainly have been enjoying the Olympics and watching the competition. Although my wife and I are not huge sports fans (you can occasionally find me watching the golf channel but that's it), the Olympics is special because you can......
Jeff Pietsch from ETF Rewind will be here at 12:PM EST to take our questions. To attend the session live (or read it later) please visit the following link: Strategy Session: Jeff Pietsch (ETF Rewind) As a fund manager for......
Wikio - Finance
T. Rowe Price Sizing Up China Deal (The Street)
T. Rowe Price is reportedly in advanced talks to buy a stake in China Asset Management, China's biggest asset management firm.Source : The Street (subscribe)...
TORONTO (MARKET WIRE) A25 Gold Producers Corp. (FRANKFURT: ALQ) announces it has signed a letter of intent to acquire the Prident mineral property with a past production record in the Alberni mining division of the Zeballos Gold Camp in British Columbia, Canada.Source : Market Wire (subscribe)Explore : British Columbia,...
Asian Stocks Drop for First Time in Three Days on China Concern (Business Week )
Asian stocks fell for the first time in three days on concern China will boost steps to cool growth as inflation accelerates, threatening a global economic recovery.Source : Business Week (subscribe)...
Dodd Faces ‘Ticklish Position’ Going Alone on Financial Rules (Business Week )
Senate Banking Committee Chairman Christopher Dodd will unveil a financial-regulation bill today without Republican backing, a move that may force him to balance the need for bipartisan accord against his own party’s goals.Source : Business Week (subscribe)...
AIG Said to Cut Bonuses by $21 Million to Meet Feinberg Mandate (Business Week )
American International Group Inc., the bailed-out insurer, cut retention bonuses to be delivered to former employees today by about $21 million to meet a target imposed by U.S. paymaster Kenneth Feinberg, said a person briefed on the company’s plans.Source : Business Week (subscribe)Explore : AIG, Business, Insurance...
Phillips Van-Heusen Nears Buy of Hilfiger (The Street)
Phillips Van-Heusen is nearing a deal to acquire clothing company Tommy Hilfiger for roughly $3 billion, a report says.Source : The Street (subscribe)...
FOXBusiness.com
Fook Woo Group Seeks Up To US$212 Million In Hong Kong IPO -Source
Fook Woo Group Seeks Up To US$212 Million In Hong Kong IPO -Source...
Hong Kong Lower, With Financials Among Decliners
Hong Kong Lower, With Financials Among Decliners...
Hutchison Telecom May Delist In Hong Kong May 25, In New York June 4
Hutchison Telecom May Delist In Hong Kong May 25, In New York June 4...
CORRECT: China Minzhong To List In Singapore, May Raise Around US$180 Million
CORRECT: China Minzhong To List In Singapore, May Raise Around US$180 Million...
Australian Government To Spend A$632 Million To Train More Doctors
Australian Government To Spend A$632 Million To Train More Doctors...
Toyota Faces Fraud Suit In Southern California
Toyota Faces Fraud Suit In Southern California...
Business and financial news - CNNMoney.com
Congress may move to regulate financial planners
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Is the Federal Reserve forever blowing bubbles?...
Wall Street reform: 'Clock is ticking'
The head of a key banking panel is expected Monday to release a draft bill of sweeping regulatory changes aimed at warding off future collapses in the financial system....
Day 1 estimate: 120,000 iPads sold
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Stocks ended little changed Friday, as investors welcomed a report that showed a surprise rise in retail sales, but showed caution as...
Apple: Good job. Here's $22 million
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Paul Kedrosky's Infectious Greed
Matt Simmons: The Oil & Water Mix
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On Emerging (Financial) Viruses
This quote is about biological viruses, but it has metaphorical power in thinking about regulating new and exotic financial instruments: Investigators face a daunting black box with emerging viruses: the challenge of developing a universal therapeutic agent to combat a genetically proficient virus that quite likely...
Mauldin: The Velocity of Money
John Mauldin’s latest: The Velocity of Money The Federal Reserve and central banks in general are running a grand experiment on the economic body, without the benefit of anesthesia. They are testing the theories of Irving Fisher (representing the classical economists), John Keynes (the Keynesian...
California Bonds? Detroit Bonds? 30-Year Treasuries? Bring ‘Em On.
People are sure digging on the “collapse” thesis with respect to bond purchasing: Lockyer Sells 25% More California Bonds Than Forecast (Bloomberg) Detroit sees lower than expected interest rates on new bond offering (DetNews) Lower yield and high bid-to-cover on...
Consumer Debt Change, Then and Then and Now
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Readings: Venture, Debt, Apple, The Big Short, etc.
Survey finds VCs bullish on clean tech energy storage (Source) The importance of investor signaling in venture pricing (Source) US household debt falls for first time (Source) Apple Waits in Wings as Cable’s TV Everywhere...
Africa Business Source
Opportunity to process fruit for guaranteed local market, Malawi
There is an opportunity to establish a fruit juice concentrate processing plant to cut back on imports that currently form the bulk of juices sold in Malawi. Malawi’s excellent climate favours the growing of a wide range of fruits including pineapples, tangerines, mangoes, bananas and avocados. However, there is limited fruit...
New Offshore Oil Discovery in Angola
Petrobras, this week announced two new oil discoveries made in Block 15/06, in deep Angolan waters. The Company holds 5% stakes in Block 15/06 and Eni is the operator, holding 35% of the working interest in it. The wells Nzanza-1 and Cinguvu-1 are located around 350 km northwest of Luanda, in...
Ayisi Makatiani is the Managing Partner and CEO of Fanisi Capital Ltd., which manages the Fanisi Venture Capital Fund for investing in East Africa (Kenya,Uganda, Tanzania and Rwanda). Makatiani holds a Bachelors degree in Electrical and Electronics Engineering from Massachusetts Institute of Technology (MIT), a Minor in Economics with a...
The 2010 African Business Conference - Howard University
Howard University African Students’ Association will be hosting an African Business Conference from February 25 to February 27, 2010. The primary aim of the conference is to highlight business and career opportunities in African countries. This aim will be achieved by featuring speakers on various panel sessions; the speakers, who...
IFC Launched its Business Edge Management Training System in Cameroon
IFC, a member of the World Bank Group, on Feb. 18 launched its Business Edge management training system in Cameroon, increasing its support for entrepreneurs and small and medium sized businesses in the country.Business Edge is an interactive learning program that offers skills training to help managers increase their knowledge...
Barrick Gold will Spin Off its Africa Operations through IPO
Barrick Gold, a Canadian Mining company announced on Friday the creation of African Barrick Gold, a new company whose equity it will list with the United Kingdom Listing Authority and to admit to trading on the London Stock Exchange, subject to market conditions. ABG also intends to seek a future listing...
Mercantile Capital Corporation
SBA 504 Expert Calls Proposed Direct Lending by the SBA a Disaster . . .
In today's edition of The Wall Street Journal, there is an article titled “A Plea for Direct Lending to Small Businesses” which you can read in full by going here. The article focuses on the two sides of the debate on proposed legislation that calls for the SBA to...
Palms Supermarket - Los Angeles, CA
Palms Supermarket is a Hispanic community grocery market. They sells fresh produce, meat, and everyday groceries ranging from cereal, bread, and milk among other products....
Osaka Japanese Steakhouse - Midland, TX
Osaka Japanese Steakhouse provides a wide variety of top quality Japanese foods, from sushi to Hibachi cuisine all prepared right at your table. Visit www.osakaodessa.com/page/13xth/home_page.html for more information....
Delaware Valley Plastic Surgery, PA
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Trop Stop Gas & Car Wash - Las Vegas, NV
Trop Stop Gas & Car Wash offers a wide variety of comprehensive services and benefits that are designed to cater to the specific needs of their customers. Visit www.tropstoplv.com for more information....
Barry Shibuya, MD, Inc. - Fremont, CA
Dr. Shibuya is a board certified general internist and rheumatologist, specializing in the care of persons with arthritis, osteoporosis and auto-immune diseases. Visit www.drshibuya.com for more information....
TraderFeed
Challenges in Pulling the Trigger on Trades: Overcoming Performance Anxiety
Here's a worthwhile feature from the Trader Interviews site in which Tim Bourquin interviewed three trading psychologists--myself, Doug Hirschhorn, and Gary Dayton--on the topic of how to overcome difficulties in pulling the trigger on trades. Thanks to Tim for the opportunity to participate.As a rule, inhibition is a function...
Kicking Off the Weekend With More Good Reading
* Where to place your stops and why;* What ideal coaching for traders would look like;* Gold timers are bullish, plus more excellent reading;* Very worthwhile video perspectives on the market;* The system failed us during the financial crisis;* China facing massive bank bailouts?*...
Download Now Available For Brett Steenbarger's Trading Performance Webinar
Many thanks to Juan Villegas, who has posted the link for this past Wednesday's "How to Get to the Next Level of Trading Performance" webinar. Unfortunately, the first few minutes of the talk did not record, but the great majority of the session was captured.My thanks also to readers...
Why Do Traders Lose Money in Slow Markets?
I've encountered many traders who make money in high volatility markets and then stop making money in low volatility environments.Why does this happen?Perhaps patterns change in the markets: how setups act during one volatility regime could be different from how they act in a different market environment.Perhaps the traders...
Midday Briefing for March 12th: Forming a Range
After an early morning sell-off, we've consolidated just below overnight lows, near the 3/10 highs that had been resistance. As a rule, markets spend more time making tops than bottoms. That generally leads me to look for rising markets turning into bracketing ones, not into falling ones. ...
Morning Briefing for March 12th: Looking Toppy
We opened the session with early selling after the overnight session took us to bull market highs. I am watching closely to see if how the buying and selling sentiment develop in the near term, to see if we can stay above overnight support around 1144 in the June...
Consumerism Commentary: A Personal Finance Blog Since 2003
Podcast 47: The Financial Physician, Lou Scatigna
The Consumerism Commentary Podcast is featuring Lou Scatigna, author of the book The Financial Physician: How to Cure Your Money Problems and Boost Your Financial Health. Lou also hosts the Financial Physician Radio Show on WOBM and XM Radio. Among the topics discussed, Lou talks about his approach to giving financial...
Giveaway Reminder: 5 Winners of Extreme Finance Package
The giveaway has ended. Thanks to everyone who has participated. The winners will be notified shortly. This week I will be giving away five “extreme finance packages” containing Quicken, TurboTax, and QuickBooks. Each winner will be able to choose their flavor of each piece of software. Today is the last day to...
Bank of America Seizes Parrot, Owner Sues for $50,000
Bank of America is controlling the news cycle lately. First, the bank eliminated overdraft fees for debit card purchases. Now, the bank has apologized to a woman for seizing her parrot. Back in October, Bank of America believed Angela Iannelli was defaulting on her mortgage and she had abandoned her house....
I Might Need $3,000,000 To Retire: What’s Your Number?
ING Direct’s recent survey results about retirement are scary. I don’t know what the world is going to be like in thirty years, the time I’ll be approaching “retirement age.” I do know that if my pattern of increasing expenses doesn’t change until then, and if I’m still earning primary...
Bank of America Ends Some Overdraft Fees
Last year, Smithee reported that Bank of America was the first major bank to allow customers to opt out of overdraft protection and the associated fees. Those customers who opted out of overdraft protection would have their card rejected when attempting to make a purchase without the funds available. Thanks to...
When I post my financial reports each month, they reflect only a small piece of who I am as a person. My bank account balances are only a small part of my life although they are center stage on Consumerism Commentary. I try to avoid labels for this reason; when...
Yahoo! Canada Finance: Finance News
France's Lagarde 'criticises German trade surplus'
AFP - LONDON (AFP) - French Finance Minister Christine Lagarde has said Germany's trade surpluses may be unsustainable for its neighbours in the eurozone, in an interview published Monday....
Talks start in Australia on Pacific trade deal
Reuters - CANBERRA (Reuters) - Officials from eight nations including the United States began talks on a transpacific trade deal on Monday in a move Australia said could add momentum to stalled World Trade Organization talks....
JP Morgan fund invests in China, India
Reuters - HONG KONG (Reuters) - JP Morgan Asset Management has invested almost a quarter of its $860 million Asian infrastructure fund in China and India assets, as part of efforts to complete investments in the next two years....
AIG holds back $21 million from FP unit payout: source
Reuters - NEW YORK (Reuters) - American International Group Inc is holding back $21 million from retention bonuses due by Monday to current and former employees of its Financial Products unit, a source familiar with the matter said....
Greek bailout tops EU finance ministers' agenda
Reuters - BRUSSELS (Reuters) - Finance ministers from countries using the euro hope to agree on Monday on a way of providing heavily indebted Greece with financial aid, despite French and German doubts that a deal will be reached....
Australia welcomes China report on failed Chinalco bid
Reuters - CANBERRA (Reuters) - Australian Trade Minister Simon Crean on Monday welcomed a report that China had cleared Rio Tinto and the Australian government of blame for the collapse of a $19.5 billion tie-up between Chinalco....
Forbes.com: Business News
Historic China-Taiwan Economic Pact Ahead
Taiwanese politician Jason Hu sees boost to Island's competitiveness....
Sales improved marginally in February, but consumers are still spending cautiously....
Scared of bubbles and volatility some emerging economies restore them....
Beijing official rejects Obama?s call to let currency appreciate; European stocks trade higher....
When the E.U. agreement is ratified, Peru will have bilateral deals with most of its key partners....
With time running down, the Senate banking committee chief will introduce his own version of reform bill....
WSJ.com: What's News US
China's Wen Warns of 'Double Dip' Recession
Chinese premier Wen Jiabao warned other countries not to pressure China over its exchange-rate policy, and argued strongly that the yuan isn't undervalued. ...
Tens of thousands of protesters flowed into Bangkok, setting up what organizers say will be several days of protests to force Thailand's army-backed government to call fresh elections. ...
New York Times Brings Another Family Member Into the Fold
Another member of the family that controls New York Times has been brought in to help run the business, this time on the digital side of the Times newspaper. ...
Dodd Bill to Toughen Stance on Banks
Senate Banking Committee Chairman Christopher Dodd is finalizing a bill to rework financial market rules that is expected to be tougher against banks than previously expected. ...
Questions Raised on Prius Incident
An investigation of the Toyota Prius that was involved in a dramatic incident on a California highway last week found a particular pattern of wear on the car's brakes that raises questions about the driver's version of the event. ...
The bank's scramble to stay alive exposed the murky but crucial role that short-term lending, done in a corner of Wall Street known as the repo market, plays in the financial world. ...
The Big Picture
The Forthcoming Financial Reform
March 13, 2010 We are about to enter the great debate on financial reform. Unlike other stymied political initiatives, this one is likely to pass. The final form is still unknown but the details are being shaped up, and there is where the devil will emerge. The Obama...
Today’s most fascinating (non-Lehman) reads are: • Economists Credit Fed For Alleviating Crisis (WSJ) The $787 billion stimulus package was a good for the U.S. economy, but the Federal Reserve played the biggest role in rescuing the economy from the financial crisis; • US takeover defenses come tumbling down (FT) Only 28%...
Color Visualization: One Year in Boston
Fernanda Viégas and Martin Wattenberg are research scientists in IBM’s Visual Communication Lab. Their blog is called Visual Hint. I liked the way they depict a year of color in Boston, FlickrFlow: via kottke...
The Journal does yeoman’s job finding banks that have cash to lend: “U.S. banks posted a 7.5% decline in 2009 in total loans outstanding, the steepest percentage drop since 1942, according to the Federal Deposit Insurance Corp. Consumer lending fell by 3.8% as roughly 7,200 banks and credit unions pulled back...
The Implications of Velocity March 12, 2010 By John Mauldin The Velocity of Money Our Little Island World GDP = (P) x (T) P=MV A Slowdown in Velocity Dallas and Thoughts on the Economy This week we do some review on a very important topic, the velocity of money. If we don’t understand the basics, it is hard to...
Professor William Black on PBS’ Newshour
You cans ee what Professor Black warned about a year ago on PBS here. Hat tip New Economics Perspectives...
Money-Rates.com Savings Investor
MoneyRates.com Poll Suggests Strong Benefit to Active Retirement Planning
The Employee Benefit Research Institute (EBRI) recently released a highly-insightful — and scary — poll about the retirement preparedness of Americans. The poll results reflect very low confidence levels in the ability to afford retirement expenses, with one outcome being that more people are planning to work longer. In contrast, a recent poll...
Bank Interest and Income Tax Rates
This tax season, many conservative investors are reaping at least a small reward from low interest rates on CDs, money market accounts, and savings accounts: With interest rates so low, the income tax on that interest income may be dramatically lower. For people who are in high tax brackets, the difference...
What Are Banks Doing With All That Deposit Money?
According to the recently released FDIC Quarterly Banking Profile, bank deposits rose by 13.5 percent, or $641 billion, in 2009. Savings accounts and CDs are selling well with a public that’s tired of being buried in ever-mounting piles of consumer debt. Businesses have also been putting increasing amounts of money into bank...
What’s Your Priority? A Jobs Package or Deficit Reduction?
The Senate recently passed a job-creation package which is expected to add $130 billion to the federal budget deficit over the next year and a half. There was a time, of course, when $130 billion would have been considered a pretty sizable deficit all on its own…. The Senate’s action highlighted...
Stuck in a Rut — the Bank Rate Blahs
Market interest rates moved up smartly in the last month of 2009, but since then they’ve been stuck in a rut. Since bank rates are ultimately likely to follow market interest rates, the recent lack of progress for interest rates means that bank rates are likely to stay stuck in...
Lurking Price Increases Could Spoil Higher CD Rates
Conservative investors who are hoping for higher CD rates need to be on the look-out for price increases that may be lurking just around the corner. Richard Barrington pointed out yesterday how holders of savings accounts and CDs must consider rising oil prices a threat to the value of those savings...