Category Archives: Banks

Economy Sinks Markets

The U.S. economy is showing new signs of fatigue, depressing financial markets, discouraging consumers and unsettling businesses. The Dow Jones Industrial Average lost 419.63 points, or 3.7%, Thursday, and is down 9.5% for August amid soaring trading volume and some of the worst volatility on record. Angst about the health of the U.S. and European [...]

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Political Cartoons: Financial “Reform”

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Posted in Banks, Bond Markets, Business, Credit Markets, Economy, Financial Reform, Political Cartoons, Solid Principles, Wall Street | Leave a comment

Derivatives Sour Wall Street on Obama

Some say that if the language survives, there will likely be consequences in terms of Wall Street support for Democrats in the midterms and President Obama’s reelection campaign.  AP Wall Street executives say language in the Senate financial reform bill dealing with derivatives is like a horror movie slasher — repeatedly left for dead, only [...]

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GLOBAL MARKETS: European Stocks Fall; Bailout Reassessed

By Michele Maatouk & Ishaq Siddiqi    Of DOW JONES NEWSWIRES LONDON (Dow Jones)–European stock markets were sharply lower Tuesday, along with the euro, as investors began to reassess the viability of the EUR750 billion euro zone rescue package. “Yesterday’s strong rally following the euro-zone bailout announcement has halted as questions marks over whether the [...]

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European Markets Surge

By: ISHAQ SIDDIQI European stock markets pushed sharply higher Monday, while sovereign debt markets slumped, as market participants reacted to news of a hefty €750 billion ($955 billion) rescue package to stabilize the euro and prevent the Greek debt crisis from affecting other member countries. The Stoxx Europe 600 index jumped 5.9% to 251.09. London’s [...]

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The “Party of No” Blocks Wall St. Power Grab for 3rd Time

By Rex Nutting WASHINGTON (MarketWatch) — Efforts by Democrats to reform how the nation’s financial companies are regulated received a third consecutive setback Wednesday after Republicans voted unanimously against allowing debate on the banking bill by the full Senate. The effort to begin debate failed by a vote of 56-42. Democratic Sen. Ben Nelson of [...]

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Max Baucus: A Bank Tax is Coming

It was a short hallway conversation but spoke volumes about the dilemma facing Democrats, hungry for new revenues after emptying the cupboard on health care reform. “I don’t think there’s much doubt that there will be a bank tax,” Senate Finance Committee Chairman Max Baucus told POLITICO. And more than ever, the Montana Democrat signaled [...]

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