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« March 2009 | Main | May 2009 »
Latest Madoff Victim, Batman, Falls on Hard TimesApril 30, 2009 @ 09:39 PM | By Penny Crosman
Adam West, a.k.a. Batman, tries to recover from being Madoffed; a cat jumps in and out of a box.
Batman Holds A Garage Sale
How much would you pay for Bat Socks?
continued...
Comment on this blog entry
SEC Starts Tweeting In Effort To Revamp Image and Increase Transparency
April 28, 2009 @ 10:55 AM | By Melanie Rodier
S.E.C. chief Mary Schapiro is expanding the regulator's presence on Twitter in an effort to boost its transparency and update its image, the Los Angeles Times reported.
continued...Comment on this blog entry
Was AIG's Fall Criminal?
April 28, 2009 @ 10:04 AM | By Greg MacSweeney
New information has surfaced in the federal investigation of the collapse of insurance giant AIG. As CBS News chief investigative correspondent Armen Keteyian reports, investigators wonder if AIG’s downfall was due to criminal acts, such as securities fraud. CBS News is reporting that a Justice Department criminal investigation is trying to figure out just how AIG crumbled. According to Keteyian, sources say investigators are digging into whether Joseph Cassano, the former head of London-based AIG Financial Products, and two of his top deputies -- Andrew Forster, an executive vice president, and Thomas Athan, a managing director -- committed securities fraud and other federal crimes.
Comments(1)Investors Await Bank Stress Tests
April 24, 2009 @ 09:58 AM | By Greg MacSweeney
Crucial regional banks are expected to fail the Fed's "stress tests," reports CBS News’ Priya David and investors are waiting for more details that will be release later today. Wells Fargo, JPMorgan and Goldman Sachs are expected to pass. CBS’ Maggie Rodriguez speaks to Sen. Chris Dodd from the Senate Banking Committee.
Comments(1)TGIF: The Apps on Darth Vader's iPhone
April 24, 2009 @ 08:33 AM | By Penny Crosman
There's an app for everything, including galaxy domination.
Comment on this blog entryBIDS Chief Mahoney Says Fragmentation Distorts Volume and Volatility
April 23, 2009 @ 10:16 AM | By Greg MacSweeney
Today it's harder to rely on share volume as a stock-market indicator than it used to be, Tim Mahoney, chief executive of BIDS Trading, explains to MarketWatch's Greg Morcroft. Mahoney says we are witnessing a transformation in the marketplace as “the role of the market maker has moved from a person to a computer.” Mahoney estimates that 70 percent of the volume in the markets today comes from computerized trading. He also discusses how the fragmentation in the markets is skewing the traditional volume numbers — from NYSE and Nasdaq — that investors traditionally relied on.
Investigators Open 20 TARP-Fraud Criminal Probes
April 22, 2009 @ 09:54 AM | By Greg MacSweeney
Ever since taxpayer money was handed out to U.S. banks, the question has been "where did the money go?" TARP warns that one out of ten bailout dollars could be lost to fraud, amounting to possibly $100 billion or more. The lead investigator says that with so much money being handed out in such a short period of time, it is not surprising that schemes and criminals would try to benefit. Securities fraud and insider trading are just two types of crimes various government agencies are investigating. CBS News’ Chip Reid reports.
Comment on this blog entryMany Banks May Fail Stress Test as Toxic Assets Wreck Wall Street
April 21, 2009 @ 09:40 AM | By Greg MacSweeney
Many banks are expected to fail the "stress test," leading the market into a tumble, reports CBS News correspondent Priya David. Julie Chen talks to financial manager Art Cashin. A new report from JPMorgan states that there may still be $400 billion in bad assets on bank books, meaning that more bailout money may be required. What the markets really need is clarity from the government on the next steps it will take to mitigate the crisis, says Arthur Cashin, UBS Financial Services.
Comment on this blog entryGeithner Under Fire on Capitol Hill Today
April 21, 2009 @ 09:34 AM | By Greg MacSweeney
A critical watchdog report out this morning on the Troubled Asset Relief Program (TARP) says Tim Geithner’s Treasury Department needs to do a better job of tracking how banks are using TARP money.
Promising Year Ahead for Wealth Management, Thomson Reuters Says
April 20, 2009 @ 01:48 PM | By Penny Crosman
"The finger's come off the panic button," says John Fennelly, global managing director of the wealth management markets division at Thomson Reuters, of the economic environment surrounding the wealth management business. "In September through January, everybody was extremely nervous; who knew what equilibrium would look like?"
continued...TGIF: The Effects of Replacing Workers with Computers
April 17, 2009 @ 07:25 AM | By Penny Crosman
An office replaces workers with boxes; a parking attendant validates more than stubs.
Boxed Out Office replaces workers with boxes. continued...Jon Stewart Rates Bear Stearns Book A "Buy"; Flutter, the New Twitter
April 10, 2009 @ 10:08 AM | By Penny Crosman
The latest book about Bear Stearns gets a bullish recommendation from Jon Stewart; Flutter, the new microblogging site for those too lazy to Twitter; Wall Street's Trinity Church to perform the story of Jesus Christ via Twitter.
Jon Stewart is Bullish On New Bear Stearns Book
Daily Show host says "Booyah!" to a new book about Bear Stearns.
| The Daily Show With Jon Stewart | M - Th 11p / 10c | |||
| Intro - Buy Bear Stearns Book | ||||
| ||||
Ex-Deutsche Bank Trader Launches New Social Networking Site for Retail Traders
April 09, 2009 @ 05:19 PM | By Melanie Rodier
A few months ago, as the economy went into a tailspin and public sentiment turned against Wall Street, people angrily accused banks of taking advantage of Main Street.
Restructuring and Job Losses in the Financial Sector
April 07, 2009 @ 10:49 AM | By Greg MacSweeney
John Garvey, partner at PricewaterhouseCoopers, discusses whether more job losses lie ahead, specifically in the financial sector, as well as how financial firms are completely restructuring their business. MarketWatch’s Kelsey Hubbard reports.
Unemployment May Peak at 10%
April 03, 2009 @ 07:34 AM | By Greg MacSweeney
A little more than 11 months ago (May 29, to be exact) I wrote a blog that called for 9 percent unemployment by April 2009, when the official numbers are reported in early May of this year. At the time, the forecast received some criticism — mostly from people in denial about the severity and depth of the financial crisis. Well, it looks like 9 percent national unemployment is a reality, but if you read on, there is good news to report as well.
continued...Daily Show Trounces Congress; T. BearSachs, SouthPark Bank Advise Investors
April 02, 2009 @ 06:03 PM | By Penny Crosman
Jon Stewart trashes Congressional debates over Barack Obama's budget; two firms, T. BearSachs Financial and SouthPark Bank, try to guide investors through these uncertain times.
The Ever Spending Story
Jon Stewart flogs Congress over its budget debates.
| The Daily Show With Jon Stewart | M - Th 11p / 10c | |||
| The Ever Spending Story | ||||
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At Long Last, a Facelift for Mother Merrill
April 02, 2009 @ 11:39 AM | By Michael Ellison
At Corporate Insight, we have been tracking and monitoring brokerage websites since 1996 and rarely has one gone so long without a major upgrade as Merrill's client site. While their public website has evolved over the years into an aesthetically pleasing and modern-looking website, the client site has largely languished in a late '90s design, creating a major disconnect between the public face and the private one.
continued...G-20 Takes Shape Around Regulation
April 02, 2009 @ 09:52 AM | By Greg MacSweeney
As the G-20 gets underway, regulation is the big theme, and countries are starting to pledge their support to do what's necessary to help their economies. American Public Media’s Steve Chiotakis reviews other decisions being made with Stephen Beard in London.
Comment on this blog entryGoogle Forms $100 Million Venture Capital Fund
April 01, 2009 @ 10:47 AM | By Greg MacSweeney
Google has formed Google Ventures, a $100 million venture capital fund that will invest in new technology companies in a broad range of industries, according to Google. Unlike some venture capital funds that specialize in a certain type of technology or a specific sector, Google Ventures will target many technologies, including clean technologies and healthcare, according to Rich Miner, co-manager of Google Ventures. Miner will manage Google Venture with Bill Maris.
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