Markets

Screw The Volcker Rule: Now JPMorgan Might Be Buying Another Hedge Fund

If JPMorgan continues the “advanced discussions” with the Brazilian hedge fund, Gavea, that have been reported in this morning’s Financial Times, there will be two large financial institutions that have essentially said “screw you” to the Volcker Rule, Citi and JPMorgan.(Citi announced last week that it would raise $3 billion […]
Screw The Volcker Rule: Now JPMorgan Might Be Buying Another Hedge Fund
Markets

SEC Hiring Quants To Figure Out The Flash Crash, Solve Complex Problems

[credit provider=”Wikimedia”] The SEC has long been behind both technologically and logistically in terms of having the manpower to solve some of Wall Street’s more complex cases.Now they’re turning the tables by hiring quants and mathematicians to find out why events like the flash crash of May 5th happened.
SEC Hiring Quants To Figure Out The Flash Crash, Solve Complex Problems
Markets

Surprise, Surprise: 16 Financial Lobbyists Formerly Worked For Dodd And Shelby

Dozens of financial industry lobbyists have ties to lawmakers serving on the conference committee negotiating financial reform legislation, according to data reported by Public Citizen. Among them are seven former chiefs of staff and a total of 16 former employees of Senate Banking Committee Chairman Chris Dodd (D-CT) and Sen. […]
Surprise, Surprise: 16 Financial Lobbyists Formerly Worked For Dodd And Shelby
Markets

SEC Approves New Stock-By-Stock Circuit Breaker Rules

[credit provider=”Wikimedia”] The SEC just approved stock-by-stock circuit breaker rules today. From now on, any stock in the S&P 500 that incurs a 10% change in price in a five-minute period or less will be subject to a pause in trading. FINRA and the various exchanges will be responsible for […]
SEC Approves New Stock-By-Stock Circuit Breaker Rules
News

It’s Alive! Computer-Designed Franken-Life Emerges

TO CREATE life is the prerogative of gods. Deep in the human psyche, whatever the rational pleadings of physics and chemistry, there exists a sense that biology is different, is more than just the sum of atoms moving about and reacting with one another, is somehow infused with a divine […]
It’s Alive! Computer-Designed Franken-Life Emerges
Markets

Chanos: Hedge Funds Shouldn’t Be Regulated Because We’re Pure Capitalists

[credit provider=”Charlie Rose”] Jim Chanos doesn’t think hedge funds need or deserve to be regulated. (Update: here’s a more thorough explanation of Chanos’ stance on regulation.)”Unlike almost all the other actors on the stage of financial regulation in Washington, we were the pure capitalists,” Chanos told Bloomberg.
Chanos: Hedge Funds Shouldn’t Be Regulated Because We’re Pure Capitalists
Markets

Why Wall Street Owes A HUGE favour To Paul Volcker

Depending on what kind of firm they’re at, and how they’d be affected by the so-called Volcker Rule, it’s understandable that some on Wall Street would be less than pleased by Paul Volcker and the role he’s playing in shaping financial reform.
Why Wall Street Owes A HUGE favour To Paul Volcker
Tech

Google To International Authorities: We Care About Privacy. (P.S. Sorry About Buzz)

[credit provider=”AP”] Recently, a group of privacy commissioners from the governments of 10 different countries sent Google a public letter expressing their concerns about Google’s privacy policies, especially with respect to the launch of Google Buzz.Google has now issued a response, and, “in the spirit of transparency”, has published its […]
Google To International Authorities: We Care About Privacy. (P.S. Sorry About Buzz)
Markets

Greenspan’s Arrogance Set The US Up For A Huge Fall

In a newly released transcript of a Federal Reserve Board meeting in March 2004, former Chairman Alan Greenspan argues against disclosing too much to the public lest the Fed “lose control of a process that only we fully understand.”
Greenspan’s Arrogance Set The US Up For A Huge Fall
Markets

Karl Denninger Explains The One Hope For Ending Too Big To Fail

Normally, MarketTicker.org impresario Karl Denninger is busy ranting about crooked Wall Street banks and our corrupt government officials. But today, he sees hope. That hope comes in the form of the SAFE Banking Act (link to PDF) which has been put in front of both the Senate and the House. […]
Karl Denninger Explains The One Hope For Ending Too Big To Fail
Markets

Wimpy Obama Needs To Stop Sucking Up To Wall Street

On Thursday, President Obama went to Manhattan, where he urged an audience drawn largely from Wall Street to back financial reform. “I believe,” he declared, “that these reforms are, in the end, not only in the best interest of our country, but in the best interest of the financial sector.”
Wimpy Obama Needs To Stop Sucking Up To Wall Street
Markets

CDOs And CDSs Must Be Regulated Because They Have No Social Benefit

Goldman Sachs, we can be sure, will vigorously contest the civil suit brought against it by the United States Security and Exchange Commission (SEC). But, regardless of the eventual outcome, the case has far-reaching implications for the financial reform legislation that the US Congress is now considering.
CDOs And CDSs Must Be Regulated Because They Have No Social Benefit
US

Chanos: Now Wall Street Is Getting Behind The Reform Bill

Jim Chanos spoke with CNBC immediately following President Obama’s speech to the banking community on financial reform today. Chanos said he felt the crowd was more optimistic about reform now, and the President’s relationship with Wall Street.
Chanos: Now Wall Street Is Getting Behind The Reform Bill
Markets

Obama Coming To New York For Dramatic Showdown Over Wall Street Reform

[credit provider=”The White House”] Thursday should be a very interesting day in the debate over financial reform, as Barack Obama heads to the Cooper Union Institute to deliver what will be a very closely followed speech on financial reform.Coming as it does on the heels of SEC vs. Goldman Sachs […]
Obama Coming To New York For Dramatic Showdown Over Wall Street Reform
Markets

Financial Reform Is Good, Firing Bernanke Would Be Better

Truthout / CC BY-NC 3.0 The financial reform bills moving through Congress offer some hope for a more stable financial system. While there is still much up for grabs, it is likely that whatever gets through Congress will improve regulation of derivatives, increase regulators’ ability to restrict leverage and establish […]
Financial Reform Is Good, Firing Bernanke Would Be Better