• Worried About The Deficit? Blame Health Care

    Updated: 2010-06-30 20:59:00
    Unless something changes, rising federal deficits will be driven largely by government spending on health care.

  • Former AIG exec defends risky trades before crisis, saying he never compromised standards

    Updated: 2010-06-30 20:22:25
    Ex-AIG exec defends risky trades before crisis WASHINGTON — A former top executive of American International Group Inc. acknowledged Wednesday that his division more than tripled the amount of risky investments it insured in the three years leading up to the 2008 financial meltdown. But Joseph Cassano, chief executive for AIG’s key Financial Products division, rebuffed accusations ... Original article on : Former AIG exec defends risky trades before crisis, saying he never compromised standards.

  • Former AIG Exec Blames Losses On Bailout

    Updated: 2010-06-30 18:55:00
    Taxpayers have sunk more than $100 billion into AIG so far. A key executive suggests the company might have been OK on its own.

  • Former AIG exec to tell panel he did his best to estimate losses accurately ahead of crisis

    Updated: 2010-06-30 15:29:54
    Ex-AIG exec says he was truthful about losses WASHINGTON — A former top executive of American International Group Inc. says he told the truth about the company’s losses while defending its compensation plan. Joseph Cassano, who led AIG’s key Financial Products division, is expected to tell a special panel Wednesday that he did “my very best” to ... Read this article on Gaea Times at : Former AIG exec to tell panel he did his best to estimate losses accurately ahead of crisis.

  • New EU rules will limit bankers’ cash bonuses from 2011

    Updated: 2010-06-30 15:18:45
    New EU rules to limit bankers’ bonuses from 2011 BRUSSELS — Bankers will only be able to get part of their yearly bonuses in cash upfront under new European Union rules that will enter into force next year. A deal announced Wednesday between EU governments and EU lawmakers will require banks to limit cash bonus payouts, with ... Read this article on Gaea Times at : New EU rules will limit bankers’ cash bonuses from 2011.

  • EU puts forward tougher economic policy rules; seeks fines for persistent overspenders

    Updated: 2010-06-30 14:54:07
    EU: those who flout economy rules must be fined BRUSSELS — The European Commission proposed new economic rules Wednesday that would include fines and loss of EU funding for countries that keep running up deficits and debts. Olli Rehn, the European commissioner for economic and monetary affairs, said the recession and the near-bankruptcy of Greece exposed the ... Read more »raquo;»

  • Stocks stuck in narrow range on last day of quarter after a report on jobs growth disappoints

    Updated: 2010-06-30 14:52:46
    Stocks in narrow range after weak jobs report NEW YORK — The stock market was ending a painful second quarter quietly, holding onto small gains after another disappointing report on the jobs market. Financial stocks rose Wednesday in response to a change in the banking overhaul bill that removed $19 billion in proposed taxes on banks. A ... Read more .

  • Former AIG chief to tell panel he did his best to estimate losses accurately ahead of crisis

    Updated: 2010-06-30 14:03:49
    Ex-AIG chief says he was truthful about losses WASHINGTON — A former CEO of American International Group Inc. says he told the truth about the company’s losses while defending its compensation plan. Joseph Cassano, who led AIG from 2002 to 2008, is expected to tell a special panel Wednesday that he did “my very best” to estimate ... Read more .

  • Ireland’s export-driven economy returns to GDP growth, but unemployment rises to 13.4 percent

    Updated: 2010-06-30 11:47:36
    Irish economy resumes growth, unemployment rises DUBLIN — Export-driven Ireland has resumed growth following eight straight quarters of sharp declines, but the domestic side of the economy is still declining and unemployment keeps rising, the Central Statistics Office reported Wednesday. The government agency said Ireland’s gross domestic product grew 2.7 percent in the first quarter of 2010. .... Original source   Ireland’s export-driven economy returns to GDP growth, but unemployment rises to 13.4 percent.

  • Bank of England rate-setter fears UK could fall back into recession

    Updated: 2010-06-30 11:36:34
    more images more images more images more images Bank of England rate-setter fears new UK recession LONDON — Britain could be pushed back into recession by the government’s austerity moves and slow recovery in key export markets, a member of the Bank of England’s rate-setting Monetary Policy Committee said Wednesday. Adam Posen said he finds the British economy poised between a ... Read the original article on Gaea Times at : Bank of England rate-setter fears UK could fall back into recession.

  • Senate Democrats combine jobless benefits, homebuyer tax credit in effort to get GOP support

    Updated: 2010-06-30 08:09:45
    Senate combines jobless benefits, homebuyer credit WASHINGTON — Senate Democrats are trying to jump-start their stalled election-year jobs agenda while saving unemployment benefits for hundreds of thousands of laid-off workers. The latest plan combines in one bill the unemployment benefits with an extension of a popular tax credit for people who buy new homes. Democrats are still a ... Read this article on Gaea Times at : Senate Democrats combine jobless benefits, homebuyer tax credit in effort to get GOP support.

  • House, Senate Democrats look to secure votes by dropping bank fee from regulation bill

    Updated: 2010-06-30 00:22:26
    more images more images House, Senate Democrats drop fee from bank bill WASHINGTON — Top Democratic House and Senate negotiators who worked out a deal on a sweeping overhaul of financial regulations regrouped Tuesday to eliminate a $19 billion fee on banks that had threatened to derail the legislation. Eager to salvage one of President Barack Obama’s legislative priorities, .... Original source   House, Senate Democrats look to secure votes by dropping bank fee from regulation bill.

  • Schwarzenegger backs off water bond, wants to take it off November ballot, wait for 2 years

    Updated: 2010-06-29 23:27:22
    Schwarzenegger seeks to take water bond off ballot SACRAMENTO, Calif. — Gov. Arnold Schwarzenegger wants to pull an $11.1 billion water bond off the November ballot after spending much of last year fighting to get it there. The Republican governor had said improving the state’s water storage and delivery system was one of his top priorities. On Tuesday, .... Original article   Schwarzenegger backs off water bond, wants to take it off November ballot, wait for 2 years.

  • Summary Box: Rates fall again in Treasury market; 2-year note hits a record low

    Updated: 2010-06-29 23:18:32
    Summary Box: Deepening malaise sends yields lower RECORD LOW: The yield on the two-year Treasury note touched a record low of 0.59 percent. Slumping consumer confidence and a slide in stock prices sent investors looking for safety. A DOUBLE-DIP? Growing fears that the U.S. economy could fall back into recession are making Treasury bonds look ever more .... Source   Gaea News Network.

  • SEC paying $755K to settle with former staff lawyer who investigated prominent hedge fund

    Updated: 2010-06-29 22:43:23
    SEC paying $755K to settle with fired lawyer WASHINGTON — The Securities and Exchange Commission is paying $755,000 to settle a lawsuit with a former staff lawyer who accused the agency of blocking his investigation of a prominent hedge fund. The SEC settlement of Gary Aguirre’s wrongful termination claim resolved a long-running controversy that prompted scrutiny in ... Original article on : SEC paying $755K to settle with former staff lawyer who investigated prominent hedge fund.

  • A $19 Billion Bank Tax May Get Axed

    Updated: 2010-06-29 19:37:00
    Democrats are re-opening negotiations today on the finance-reform bill.

  • What the Future Holds

    Updated: 2010-06-29 01:33:34

  • Gold Popular with Central Bankers

    Updated: 2010-06-24 01:07:23

  • Investment Book Log Updated

    Updated: 2010-06-22 23:51:48

  • China – Rising Costs, Lower Returns

    Updated: 2010-06-21 23:20:30
    , Toro's Running of the Bulls Market Blog Commentary on investments , finance and economics you probably should ignore . Bernanke Doesn't Understand Why the Price of Gold is Going Up Main June 21, 2010 China Rising Costs , Lower Returns I am seeing all sorts of commentary regarding the de-pegging of the RMB to the dollar as being positive for risk . assets And it is , long-term . Over the long-term , a floating Chinese currency is enormously positive as it will help alleviate the enormous imbalances in the world . economy Simply put , the imbalances are that the US consumes too much and China produces too much , which has led to an unstable build-up of foreign currency reserves in . China China must consume more and the US must produce . more A rebalancing of the Chinese currency will help

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