BLOG.JMHAMILTONPUBLISHING.COM: Monthly Archives for January 2011

"Blankfein told the Levin hearing that as a market maker Goldman had no obligation to tell clients about Goldman’s own positions in the securities it was selling."

Posted by J.M. Hamilton Blog at 1/31/2011 10:20 PM | Add Comment

“The report reinforces the view that financial activities should serve the nonfinancial economy, rather than the other way around, as has been the case in the U.S. economy over the last several decades.”

Posted by J.M. Hamilton Blog at 1/31/2011 10:08 PM | Add Comment

"H. Jeffrey Leonard, president of the Global Environment Fund... said that the current subsidy structure was the legacy of 60 years of lobbying and political jockeying in Washington that largely benefits oil, coal, nuclear power and corn-based ethanol."

Posted by J.M. Hamilton Blog at 1/31/2011 10:00 PM | Add Comment

How Long before Exxon's Windfall Becomes a Drag on the Recovery?

Posted by J.M. Hamilton Blog at 1/31/2011 9:53 PM | Add Comment

"These ($800 million in loans) are potentially unrecoverable."

Posted by J.M. Hamilton Blog at 1/31/2011 7:43 AM | Add Comment

"The nation’s six largest liquor wholesalers already control more than 50 percent of the market."

Posted by J.M. Hamilton Blog at 1/31/2011 7:20 AM | Add Comment

Despite QE3.....Money Supply Still in a Contractionary Mode...

Posted by J.M. Hamilton Blog at 1/30/2011 10:05 AM | Add Comment

When to Book a Flight!

Posted by J.M. Hamilton Blog at 1/30/2011 10:02 AM | Add Comment

“We continue to see the pound as responding negatively to the stagflationary environment.”

Posted by J.M. Hamilton Blog at 1/30/2011 9:56 AM | Add Comment

"The combination will give the new company more than 110 mines and coal reserves of about 5 billion tons, and creates the world’s third-largest metallurgical coal producer behind BHP Billiton-Mitsubishi Alliance..."

Posted by J.M. Hamilton Blog at 1/30/2011 9:49 AM | Add Comment

"Aloft?" Well yes. But "firmly?"

Posted by J.M. Hamilton Blog at 1/30/2011 9:44 AM | Add Comment

"But with the unrest in the Middle East, what trader would want to leave for the weekend with short positions in oil and gold?"

Posted by J.M. Hamilton Blog at 1/30/2011 9:38 AM | Add Comment

“If one day, a people desires to live, then fate will answer their call,” his most famous poem went. “And their night will then begin to fade, and their chains break and fall.”

Posted by J.M. Hamilton Blog at 1/30/2011 9:26 AM | Add Comment

"... Mr. Mubarak fired his cabinet and appointed Omar Suleiman, his right-hand man and the country’s intelligence chief, as vice president."

Posted by J.M. Hamilton Blog at 1/30/2011 9:12 AM | Add Comment

Lady Sings the Blues.... or Time Unveils Truth!

Posted by J.M. Hamilton Blog at 1/29/2011 9:15 AM | Add Comment

"…but, hey, why should we spoil your weekend?"

Posted by J.M. Hamilton Blog at 1/29/2011 9:09 AM | Add Comment

"The signers of the report are smart people like Brooksley Born, former Commodities Futures Trading Commission chairman, and Bob Graham, a former Florida governor and senator."

Posted by J.M. Hamilton Blog at 1/29/2011 9:02 AM | Add Comment

"Mr. Blankfein isn’t the only Wall Street chief to get a raise..."

Posted by J.M. Hamilton Blog at 1/29/2011 8:55 AM | Add Comment

“I will neither falter nor shake.”

Posted by J.M. Hamilton Blog at 1/29/2011 8:45 AM | Add Comment

When Times are Tough Pols Axe Assistance for the Poor... Medicaid.

Posted by J.M. Hamilton Blog at 1/29/2011 8:40 AM | Add Comment

Fissures in the Dike: “Leave Hosni, you, your son and your corrupted party!”

Posted by J.M. Hamilton Blog at 1/29/2011 8:31 AM | Add Comment

VICTORY!!!

Posted by J.M. Hamilton Blog at 1/27/2011 9:49 PM | Add Comment

Private Equity on a Roll... Courtesy of the Fed's QE2!

Posted by J.M. Hamilton Blog at 1/27/2011 9:46 PM | Add Comment

‘Besides, you do not want to buy any of Goldman’s proprietary positions that they’re willing to sell.”

Posted by J.M. Hamilton Blog at 1/27/2011 9:26 PM | Add Comment

The $2.9 billion “was for proprietary trades (that is, trades made solely for Goldman’s benefit rather than on behalf of a client),” the panel wrote.

Posted by J.M. Hamilton Blog at 1/27/2011 8:42 PM | Add Comment

"By then, it may become apparent that the higher commodities price will be acting as a vise on consumers' discretionary spending and in turn upon corporate profit margins, which already are at historic highs."

Posted by J.M. Hamilton Blog at 1/27/2011 7:53 PM | Add Comment

"The scenes broadcast across the Arab world were reminiscent of demonstrations in Egypt this week and the month of protests that brought down the government in Tunisia."

Posted by J.M. Hamilton Blog at 1/27/2011 7:52 PM

"The report also cites AIG’s success in setting up its financial products unit in London and selecting a weak U.S. regulator, the Office of Thrift Supervision, as contributing to the firms’ failure."

Posted by J.M. Hamilton Blog at 1/27/2011 7:44 PM

"....the nation’s debts amounted to a national security risk."

Posted by J.M. Hamilton Blog at 1/27/2011 7:08 AM | Add Comment

AMAZING: "The ratings agency said that in the future, it will add states’ unfunded pension obligations together with the value of their bonds, and consider the totals when rating their credit."

Posted by J.M. Hamilton Blog at 1/27/2011 7:03 AM | Add Comment

“Darrell’s sensitive about fixating too much on his past,” Bardella said.

Posted by J.M. Hamilton Blog at 1/27/2011 2:25 AM | Add Comment

"The interest-rate increases and other tightening moves taken by India, China and other emerging economies now may be showing up in the commodities markets."

Posted by J.M. Hamilton Blog at 1/26/2011 9:34 PM | Add Comment

"The Fed’s preferred measure of inflation excludes food and energy, which tend to have volatile prices."

Posted by J.M. Hamilton Blog at 1/26/2011 9:29 PM | Add Comment

"Mr. Mangano had repeatedly said the budget was balanced, and then insisted there were ample contingencies to cover any shortfalls. But the authority said that many of his assertions were unfounded or unsupportable."

Posted by J.M. Hamilton Blog at 1/26/2011 9:16 PM | Add Comment

"The dueling responses, which privately angered several leading Republicans, highlighted the potential fissures inside the party as Republicans face the challenges of governing in a time of severe budget constraints."

Posted by J.M. Hamilton Blog at 1/26/2011 9:10 PM | Add Comment

President Obama: "At stake is whether new jobs and industries take root in this country, or somewhere else."

Posted by J.M. Hamilton Blog at 1/26/2011 6:56 AM | Add Comment

Just Win, Baby!

Posted by J.M. Hamilton Blog at 1/25/2011 10:29 PM

"Tonight I am proposing that starting this year, we freeze annual domestic spending for the next five years." :President Obama

Posted by J.M. Hamilton Blog at 1/25/2011 10:23 PM | Add Comment

"House Republicans are proposing to cut $55 billion to $60 billion in non-defense spending in fiscal 2011."

Posted by J.M. Hamilton Blog at 1/25/2011 10:19 PM | Add Comment

"Prices are going to keep weakening this year."

Posted by J.M. Hamilton Blog at 1/25/2011 10:10 PM | Add Comment

“The best thing we could do on taxes for all Americans is to simplify the individual tax code.”

Posted by J.M. Hamilton Blog at 1/25/2011 10:04 PM | Add Comment

“The greatest tragedy would be to accept the refrain that no one could have seen this coming and thus nothing could have been done....If we accept this notion, it will happen again.”

Posted by J.M. Hamilton Blog at 1/25/2011 7:05 PM | Add Comment

JPMorgan’s Dimon, 54, will make a more public appearance the following morning on a panel titled “The Next Shock: Are We Better Prepared?”

Posted by J.M. Hamilton Blog at 1/25/2011 4:07 AM | Add Comment

“Every barrel of oil we can replace with something that’s produced domestically, the better we are as a nation, and the more secure and more independent we are.”

Posted by J.M. Hamilton Blog at 1/25/2011 3:55 AM | Add Comment

"But Dr. Overland acknowledges that his idea is tentative and needs further research."

Posted by J.M. Hamilton Blog at 1/25/2011 3:48 AM | Add Comment

"But the Saudi minister also said he expected prices to stabilize and voiced concern about speculators pushing prices higher."

Posted by J.M. Hamilton Blog at 1/24/2011 8:08 PM | Add Comment

"The IIF (Institute of International Finance) represents more than 430 financial institutions including Deutsche Bank, HSBC, Citigroup, JPMorgan and UBS."

Posted by J.M. Hamilton Blog at 1/24/2011 7:58 PM | Add Comment

“While this is clearly an overhang on the stock, we believe the “doomsday” scenario is essentially off the table,” Miller said.

Posted by J.M. Hamilton Blog at 1/24/2011 7:53 PM | Add Comment

"TIAA-CREF Life Insurance Co., New York Life Insurance Co., and Dexia Holdings Inc. are among about a dozen plaintiff institutional investors in mortgage-backed securities issued by Countrywide’s subsidiaries, according to the complaint."

Posted by J.M. Hamilton Blog at 1/24/2011 7:50 PM | Add Comment

"For corporate America, the Great Recession is over. For the American work force, it’s not."

Posted by J.M. Hamilton Blog at 1/24/2011 7:46 PM | Add Comment

"Meanwhile, the corruption perception index compiled by Transparency International ranked Russia as the world’s most corrupt major economy in 2010..."

Posted by J.M. Hamilton Blog at 1/24/2011 7:38 PM | Add Comment

“The time has clearly come to fulfill the intent of the 1968 law and the Brady Bill by creating a genuine credible background check system for the sale of fire arms,” Mr. Bloomberg said.

Posted by J.M. Hamilton Blog at 1/24/2011 7:30 PM | Add Comment

"Fannie Mae also settled a fraud suit brought by the Securities and Exchange Commission without admitting or denying the allegations; the company paid $400 million in penalties."

Posted by J.M. Hamilton Blog at 1/24/2011 7:18 AM | Add Comment

Lombardi Lives: Green Bay 21, Bears 14

Posted by J.M. Hamilton Blog at 1/23/2011 9:15 PM | Add Comment

“China keeps consumers poor so it can grow through mercantilism,” Goodfriend says. “The route they are taking is reducing the purchasing power of consumers’ lifetime savings held in the bank.”

Posted by J.M. Hamilton Blog at 1/23/2011 7:59 AM | Add Comment

"The company's lineup for 2011 is set. It includes the iPhone for Verizon (VZ) and, in all likelihood, new versions of the iPhone and iPad as well as fresh takes on old hits like the iPod and iMac."

Posted by J.M. Hamilton Blog at 1/23/2011 6:51 AM | Add Comment

"CEO Benioff unloaded roughly 10,000 shares every day the stock market was open for business last year."

Posted by J.M. Hamilton Blog at 1/23/2011 6:44 AM | Add Comment

A Strongman grows stronger...

Posted by J.M. Hamilton Blog at 1/23/2011 6:31 AM | Add Comment

"Comcast’s shakedown of NBC has just begun.” Professor Ammori.

Posted by J.M. Hamilton Blog at 1/23/2011 6:26 AM | Add Comment

"But it isn’t just Democrats who are on the bubble."

Posted by J.M. Hamilton Blog at 1/23/2011 6:20 AM | Add Comment

"His (Mr. Cowen's) principal partner in the game was one of the bankers who, within weeks, were negotiating for a government bailout that cost taxpayers tens of billions of dollars."

Posted by J.M. Hamilton Blog at 1/23/2011 6:13 AM | Add Comment

“We don’t want to be seen as a party that’s a sliver of a party,” he said. “We want to be seen as a party that welcomes all views.”

Posted by J.M. Hamilton Blog at 1/23/2011 6:08 AM | Add Comment

"Exceptionally favorable weather has assisted production growth, and past experience shows that even during turmoil, cocoa tends to get exported."

Posted by J.M. Hamilton Blog at 1/22/2011 5:10 PM | Add Comment

"Currency crises generally occur right before or after elections."

Posted by J.M. Hamilton Blog at 1/22/2011 4:59 PM | Add Comment

"The United States Ambassador at the time is repeatedly quoted as suggesting that Berlusconi has a 'financially enriching relationship' with the Kremlin."

Posted by J.M. Hamilton Blog at 1/22/2011 4:49 PM | Add Comment

COMCAST: "We pledged from the day the deal was announced that we would not interfere with NBC Universal’s news operations. We have not and we will not.”

Posted by J.M. Hamilton Blog at 1/22/2011 12:37 PM | Add Comment

President Obama: “The next two years, our job now is putting our economy into overdrive.”

Posted by J.M. Hamilton Blog at 1/22/2011 12:25 PM | Add Comment

"More tangibly, there's a whiff of inflation in the air as interest rates have been working their way higher."

Posted by J.M. Hamilton Blog at 1/22/2011 10:41 AM | Add Comment

"The good news for high-frequency traders is that juicy retail sheep again are grazing in the domestic equities market, just waiting for the slaughter."

Posted by J.M. Hamilton Blog at 1/22/2011 10:35 AM | Add Comment

"That brought 2010 impairments to $12.4 billion tied to credit-card and mortgage units purchased by predecessor Kenneth D. Lewis. Investors may regard new writedowns as Moynihan’s problem."

Posted by J.M. Hamilton Blog at 1/21/2011 7:21 PM | Add Comment

dshort yield curve...

Posted by J.M. Hamilton Blog at 1/21/2011 7:18 PM | Add Comment

BUBBLE? "There are some positive signs, notably a 12.3% pop in sales of previously occupied homes reported by the National Association of Realtors Thursday."

Posted by J.M. Hamilton Blog at 1/21/2011 7:13 PM | Add Comment

“It’s time for him to have a shot at running this.”

Posted by J.M. Hamilton Blog at 1/21/2011 7:02 PM | Add Comment

“We just have to be honest and clear about this, and I also hope the House Republicans are going to move a bill in the first month or so of their tenure to create a venue for state bankruptcy.”

Posted by J.M. Hamilton Blog at 1/21/2011 7:08 AM | Add Comment

A return of Debt Securitization and Moral Hazard???

Posted by J.M. Hamilton Blog at 1/20/2011 10:27 PM | Add Comment

"Asked what Congress should focus on, 43 percent of Americans say job creation; health care is a distant second, cited by 18 percent, followed by deficit reduction, war and illegal immigration."

Posted by J.M. Hamilton Blog at 1/20/2011 10:13 PM | Add Comment

"Representative Joe L. Barton, Republican of Texas, said, 'There are some things in the new law that we think are worth keeping,' including a procedure for approval of generic versions of expensive biotechnology drugs."

Posted by J.M. Hamilton Blog at 1/20/2011 7:11 AM | Add Comment

"As if propelled by some mysterious force"

Posted by J.M. Hamilton Blog at 1/19/2011 8:15 PM | Add Comment

Ken Heinz, president of HFR: “As the industry is positioned to surpass its previous asset peak, global investors are focused on the dynamics of inflation protection, strategic specialization, enhanced liquidity, improved structure and transparency..."

Posted by J.M. Hamilton Blog at 1/19/2011 8:07 PM | Add Comment

"In December 2008, just three months after the bankruptcy of Lehman Brothers brought the financial system to the brink, Goldman awarded the nearly 36 million stock options."

Posted by J.M. Hamilton Blog at 1/19/2011 8:05 PM

"At Goldman, Ms. Rominger oversaw the investment of client assets, primarily in equity, fixed-income and hedge funds."

Posted by J.M. Hamilton Blog at 1/19/2011 7:50 PM | Add Comment

"Goldman, like all the other major investment and commercial banks, had become too big and intertwined, making the financial system too fragile."

Posted by J.M. Hamilton Blog at 1/19/2011 7:42 PM | Add Comment

"Unbeknownst to Mr. Rajaratnam and Ms. Chiesi, the government had been wiretapping their conversations."

Posted by J.M. Hamilton Blog at 1/19/2011 7:39 PM | Add Comment

"American multinational corporations, experts said, are hurt by Chinese regulations that openly favor Chinese companies over foreign ones for government contracts."

Posted by J.M. Hamilton Blog at 1/19/2011 7:01 AM | Add Comment

"Goldman’s decision is likely to step up the scrutiny of nonpublic markets for common stock."

Posted by J.M. Hamilton Blog at 1/18/2011 10:43 PM | Add Comment

"But their measure is certain to die in the Senate..."

Posted by J.M. Hamilton Blog at 1/18/2011 10:20 PM | Add Comment

"Democrats now control the Senate 53-47."

Posted by J.M. Hamilton Blog at 1/18/2011 10:15 PM | Add Comment

“This order requires that federal agencies ensure that regulations protect our safety, health and environment while promoting economic growth,” Obama wrote.

Posted by J.M. Hamilton Blog at 1/18/2011 10:04 PM | Add Comment

"The cemeteries of the world are filled with indispensable men."

Posted by J.M. Hamilton Blog at 1/18/2011 9:58 PM | Add Comment

“Competition has stiffened in Europe, where local players dominate in smaller transactions. The fact that Merrill would have failed had it not been taken over has damaged the brand. It has lost its luster.”

Posted by J.M. Hamilton Blog at 1/18/2011 6:34 AM | Add Comment

The Atlantic: How the Recession Changed the Nation...

Posted by J.M. Hamilton Blog at 1/17/2011 9:32 PM | Add Comment

“In light of this intense media coverage, Goldman Sachs has decided to proceed only with the offer to investors outside the U.S..."

Posted by J.M. Hamilton Blog at 1/17/2011 8:15 PM | Add Comment

"China recently renewed pledges to help Europe — which recently overtook the United States as China’s largest trading partner — recover from its sovereign debt crisis."

Posted by J.M. Hamilton Blog at 1/17/2011 8:12 PM | Add Comment

"The business of lending to plaintiffs arose over the last decade, part of a trend in which banks, hedge funds and private investors are putting money into other people’s lawsuits."

Posted by J.M. Hamilton Blog at 1/17/2011 7:47 PM | Add Comment

"The success of the subsidy cuts so far also seems to have contributed to a continuing reassessment of Mr. Ahmadinejad."

Posted by J.M. Hamilton Blog at 1/17/2011 7:34 PM | Add Comment

"Data is among the most potent weapons of the 21st century."

Posted by J.M. Hamilton Blog at 1/17/2011 7:26 PM | Add Comment

“A lot of times, you can’t tell if it’s a Republican or Democrat, a conservative or a liberal.”

Posted by J.M. Hamilton Blog at 1/17/2011 7:14 AM | Add Comment

John McCain (U.S. Senator - AZ): "I disagree with many of the president's policies, but I believe he is a patriot sincerely intent on using his time in office to advance our country's cause."

Posted by J.M. Hamilton Blog at 1/16/2011 2:18 PM | Add Comment

"Open-end muni funds have suffered nine straight weeks of outflows, totaling some $16.645 billion, a considerable sum absolutely, but not in the context of the overall muni market, which totals some $2.8 trillion."

Posted by J.M. Hamilton Blog at 1/16/2011 12:20 PM | Add Comment

"Thus a new AP-GfK poll, conducted two weeks ago before Mr. Obama journeyed to Tucson, Ariz., showed his approval rating climbing to 53% from 47% two months earlier, its highest perch since 2010."

Posted by J.M. Hamilton Blog at 1/16/2011 10:12 AM | Add Comment

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