Category Archives: Wall Street

Obama’s Hollow Shell: A.K.A. “Financial Reform”

I don’t have time to go into the financial reform bill that was passed by the Senate yesterday, so I just wanted to weigh in briefly with my opinion of the latest Obama Outrage. This bill is 2,300 pages long and I assume that the same diligence was pursued by Members of both Houses of [...]

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The Real Party of Wall Street

Photo credit: media.photobucket.com By: Michael G. Franc NRO Online The Democrats’ populist assault on all things Wall Street, we are told, helps them politically regardless of the legislative outcome. Democrats, NBC Nightly News reported, “actually scheduled [Monday’s] vote knowing they would lose and they did because they see it as a political win — better [...]

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Happy Birthday to The Wall Street Journal…Founded July 8,1889

That’s right. The Wall Street Journal, that venerable business paper of record, turns the big 121 Thursday. The first edition was a four-pager published at 3:15 p.m. back on July 8, 1889. Of course, we’ve changed a lot since then. For instance: The paper cost two cents. It’s two bucks today. The word “To-Day” was [...]

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President Obama’s Fairy Tale Bedtime Story

Hat Tip to “AggiesChip” for giving me the heads up on the article below. But there was President Obama in a highly revealing speech on June 30 in Racine, Wisconsin, congratulating himself for having saved America from another Great Depression. He said, “Now every economist who has looked at it has said that the Recovery [...]

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Politico Breaking News

POLITICO Breaking News: Lawmakers reached a final deal on a Wall Street reform bill early Friday morning after Sen. Blanche Lincoln (D-Ark.) agreed to a compromise with House Democrats on her derivatives regulation bill – clearing the way for the broadest rewrite of the nation’s financial regulations since the Great Depression. The legislation would create [...]

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It’s Quiet Out There, Too Quiet

By: Matt Phillips A fragile calm pervades the markets Wednesday morning. But for the moment, the deterioration in the credit markets we’ve seen recently is slowing. Three month U.S. dollar Libor — that’s that key benchmark rate at which banks lend to each other — rose yet again, but not by much. The rate hit 0.53781% [...]

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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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As Economic Worries Worsen, White House Puts on the Glitz

By: Byron York Chief Political Correspondent At a time when the unemployment rate stands at 9.9 percent, when jobs are still being lost, when worries about the global economy are causing breathtaking volatility on Wall Street, when millions of Americans who still have jobs are worrying more than ever about the safety of their retirement [...]

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German Ban Weighs on Stock Futures

By:  STEVE GOLDSTEIN U.S. stock futures dropped Wednesday, the first day of the hastily drawn-up German short-sale ban, which served to reinforce rather than dispel worries over the health of European governments and the lenders that possess their debt. More than two hours before the start of trading, Dow Jones Industrial Average futures were 68 [...]

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Asian Shares Weaken; Dragged By Continued Europe Worries

By:  Colin Ng Of DOW JONES NEWSWIRES SINGAPORE (Dow Jones)–Asian stock markets were lower Monday, dragged by heavy losses on Wall Street Friday and ongoing concerns about troubles in the euro zone. Resource stocks were beaten down in Sydney as commodities prices fell. Markets were “predictably” weak after the falls in U.S. and European equities, [...]

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