J.M. Hamilton - Blog
Contact us at:  hamilton.jm1776@yahoo.com
BLOG.JMHAMILTONPUBLISHING.COM: Monthly Archives for September 2011

"To paraphrase the late Leona Helmsley, only little people will pay bank fees."

FOR SALE: F-22 Raptor, Slightly Used...

But good politics can be very bad policy.

Bank of America’s debit fee is steeper than most of its competitors’, reflecting the broader challenges the bank is facing after the financial crisis.

That would serve mostly to shift the debt from European banks to taxpayers.

Mr. McCarthy was awarded a severance package worth about $6.3 million — and was reimbursed for up to $10,000 of legal fees associated with his termination. Beazer did not respond to a request for comment.

For Republicans, the reality of those changing demographics tempers their heightened hopes for beating Mr. Obama.

“We condemn this unwarranted attack in the strongest possible terms,” Secretary of State Hillary Rodham Clinton said in a statement.

This suggests that seasonal mood changes are due more to a diminishing of positive emotions in anticipation of short days, the authors say.

"Full Tilt reported balances that had been seized or restrained by United States authorities as liquid funds, and gave unauthorized loans and failed to report material events."

"Why is this happening? It looks like some kind of liquidity squeeze is under way in China," he continues. The sharp widening in credit spreads for China implies as much.

Wall Street lost steam in the afternoon.

Republican politicians in Texas have long thrived on lashing out against federal regulation, but critics say Mr. Perry has taken it to new levels...

“The chancellor’s path is extremely contentious, with the public plainly opposed because it is unclear what limit there is to how far Germany has to jump in to cover Greece’s debt.”

"We never really emerged from the last recession," Carlyle Group co-founder David Rubenstein said

It said Goldman also bet against the product by buying billions of dollars in credit default swaps that insured Goldman against the collapse of the mortgage securities collateral it sold to Landesbank.

Popularly known as a poison pill, it limits the amount of shares an individual investor can buy.

BP had acquired a 30 percent stake in 23 oil and gas blocks in India from Reliance earlier this year

And last week, the company’s chairman, Eric Schmidt, fielded tough questions from lawmakers as he defended Google in a Senate antitrust hearing.

And these domestic banks are being aided by the Chinese government, which often pushes local companies to include Chinese investment banks for its international offerings.

Banks like Citigroup, Goldman Sachs and Morgan Stanley are chasing the potential payoff abroad.

“They recognize they have deep problems, and they recognize they need to do something about it.” Even so, “let’s not underestimate both the political challenges and the engineering challenges.” - Mohamed El-Erian

“There’s a huge backlog of companies that want to go public.”

"His wide-eyed, almost shell-shocked look said it all."

"There can be no illusions about who Mr. Putin really is."

Gearing Up for the Next War???

“If the government is going to ask for sacrifices, they should be the first to give an example.”

"If some bankers complain and work hard to overturn these rules, they are the ones being anti-American."

“Throughout history, there have been similar challenges to other landmark legislation, such as the Social Security Act, the Civil Rights Act and the Voting Rights Act, and all of those challenges failed.”

“These big global companies, in relation to specific activities, are more powerful than the governments they’re dealing with.”

VOLCKER RULE!

Mr. Bezos said. “We’re going to sell many millions of these.”

The politics has fractured along unexpected lines as well.

“If we don’t move forward with more integration, we will suffer more fragmentation. This will be a baptism of fire for a whole generation.”

"Dimon will continue to look bipartisan, then work behind the scenes to get a Republican elected."

The commission, the European Union’s executive body, opposes ideas being floated by some government officials to get banks to accept bigger so-called haircuts

And while the European Union might like the idea of tying itself to the mast, and thus pre-announcing a policy for a future debt crisis, in the sovereign context each case is new.

Insiders have recently been buying the company's shares, according to U.S. Securities and Exchange Commission filings.

“Value creation” ?

The group, whose protests are in their second week, is calling for an end to the "monied corruption of our democracy" in the U.S. and is borrowing a page from the Arab Spring uprisings that overturned several regimes earlier this year.

“M&A follows the economy almost exclusively, with a little bit of a lag.”

“Western businesses work wonderfully with dictators.”

“It does create moral hazard, no doubt about it.”

"The torrid two-day advance in stocks and commodities has done little to change the primary technical structure of risky assets, and we remain steadfast in our belief that the 'lows are not in.'"

The Red Sox and the Rays are deadlocked in the wild-card race...

Phones can be more vulnerable because they connect to wireless networks at the gym or the coffee shop, and hackers can surreptitiously charge consumers for a purchase.

the Japanese finance minister, Jun Azumi, suggested that his government might contribute toward a bailout effort for Greece if European leaders were able to devise a reasonable plan to calm market fears.

Foreign oil companies operating in Syria include Royal Dutch Shell, the Oil and Natural Gas Corporation of India, Total of France and the China National Petroleum Corporation.

“We’re the first generation to say that voting is worthless.”

The idea of riding something all the way to the bottom and making a boatload of money, but then riding it back up to a good extent.

“Why did the Pakistanis do it?”

He also said that Goldman Sachs, not governments, ruled the world.

Federal rules set to rein in speculative commodities trading face further delays, as regulators struggle to finalize the controversial proposal amid threats of legal challenges.

But the senior examiner who questioned the deal told the inspector general’s staff that Freddie Mac’s faulty process could cost the company “billions of dollars of losses.”

"No ... no golden parachute."

“He very quickly became a safe harbor for moderate members who wanted to make sure we corrected the abuses of Wall Street without killing the markets.”

They say the world's No 1 brewer AB InBev will not be deterred from making a move for SABMiller even after the No 2 brewer swallows up Australia's Foster's

Ayn Rand $$$

Goldman Sachs, bracing for what could be one of its worst quarters since it went public 12 years ago

The big attraction to high-yield bonds now is that they could come out ahead just by standing still

“It’s a waste to be wasting all of this energy.”

Like Google, Facebook is facing increasing questions from lawmakers about the effect of its practices on its customers.

The men and women who risk their lives to keep us secure deserve decent pay while they serve and ample benefits once they retire.

Professor Levine estimated that a significant majority of those arrested in 2010 had never been convicted of any crime

The Fed "is in its predicament from its past policy mistakes," which he contends "clobbered modest-income households" by raising the costs of necessities such as food and energy.

Profanity defense: Competing media companies will unite to argue their First Amendment right

"Known unknowns" roiling the market include, but aren't limited to, the possible collapse of the European Union, fear the Federal Reserve is out of bullets in the fight to rescue the economy, and concern that slowdowns in America, Europe and China

“It’s a long time coming that the I.M.F. called a spade a spade when it comes to the banking sector,” says Kenneth Rogoff, a professor of economics.... “They know there’s a problem and they don’t want to acknowledge it.”

“I am convinced that it is in the best interests of UBS to approach the future with a new leader.”

The response from the C.F.T.C. “is a horrifically weak rule.”

Tourists stopped to take pictures; cops smiled, and the insidiously favorable tax treatment of private equity and hedge-fund managers was looking as though it would endure.

“Everyone knows that Putin runs Russia”

“It won’t be us. We’re going to leave, and those guys know it.”

"Operation Tangle"

"Banks are not expected to be willing to restructure their balance sheets to take on a large number of long-term, low-yielding loans. Therefore, these policies become another major impediment to bank lending."

"Wall Street is diving deeper into the $600 trillion industry."

There is widespread agreement among outside observers, including Americans like Mr. Goolsbee, that the current bailout fund of 440 billion euros — about $600 billion — is not large enough.

The right-wing Swiss People's Party has called for UBS and Credit Suisse to be forced to split their investment banks from their core wealth management businesses.

The regulator, the Financial Services Authority, said last week that it would start an investigation together with the Swiss financial watchdog to establish how a trader was able to lose the bank $2.3 billion.

The regulator, the Financial Services Authority, said last week that it would start an investigation together with the Swiss financial watchdog to establish how a trader was able to lose the bank $2.3 billion.

“They've got to do two things -- reduce riskier assets and continue to reallocate capital to other businesses.”

"It's the revolving door of Washington," Gavil said. "One of the things that attracts lawyers to public service is the ability to sell their expertise when they leave."

“The market is pricing in a recession.”

At the end of March, French financial firms had $672 billion in public and private debt in Greece, Portugal, Ireland, Italy and Spain, according to Basel...

Japanese Finance Minister Jun Azumi said in Washington yesterday that while his nation can buy European Financial Stability Facility bonds if needed, there is no blank check.

"So do the wealthy look to you like the victims of class warfare?"

“With ISI support, Haqqani operatives planned and conducted that truck bomb attack, as well as the assault on our embassy,” Admiral Mullen said

The tensions only grew as the night wore on...

Rick Santorum said he would respond to the threat of Pakistan’s nuclear weapons falling into the wrong hands by cultivating closer relations with its former president Pervez Musharraf.

There is no economic sense or logic to their position, which makes it look as if they want to stall the economy for the 2012 election.

The rivals’ rebuttal: Google increasingly tilts search results in favor of its own online commerce offerings like travel and shopping

In other words: you’ve become a human hyperlink.

You could have seen this coming.... Had you read J.M. Hamilton!

Always cutting edge... often prescient... J.M. Hamilton!

“Banks certainly do not have enough capital in relation to their government bonds,” said Dorothea Schäfer, an expert in financial markets at the German Institute for Economic Research in Berlin.

As usual, Mr. Ahmadinejad talked a lot about the domestic economy of the United States while barely mentioning his own country, nor the current turmoil in the Middle East.

B of A and MERS under fire: “This case is scary because if Dallas wins then there are a lot of other counties around the country that are going to follow.”

In the updated filing, Zynga said it conducted a third-party analysis that estimated the probability of Zynga's IPO at 75 percent, down from the 80 percent estimate in the company's last filing.

“The markets are blackmailing us and the circumstances are humiliating us.”

"If you are in China or Russia and looking for dramatic European expansion you can sit and wait with your gun loaded. Things aren't going to get any better for a while," the banker said.

Calendar

Blog Software