Consumer confidence ticks up in October
By Annalyn Censky, CNN Money.com
Americans got slightly more optimistic about the economy in October, but still have an overwhelmingly gloomy outlook, according to the latest reading on consumer morale.
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TIPS auction reflects profound uncertainty Mark Hulbert
By Mark Hulbert, MarketWatch
How much should you have to pay for an insurance policy that protects you against both severe deflation and hyperinflation?
http://jlne.ws/d9RUw5
Banks spend $82 million to sell credit cards to students
By Amy Haimerl, CNN Money
The U.S. Marines recruit college students to become one of the few, one of the proud. Bank of America just wants their financial future. The Charlotte, N.C.-based bank spends exponentially more money than any other bank to recruit students for credit cards.
http://jlne.ws/c4ktkF
IMF Managing Director Dominique Strauss-Kahn Names Antonio Borges as Director of the European Department of the Fund
Press Release
Mr. Dominique Strauss-Kahn, Managing Director of the International Monetary Fund (IMF), announced today his intention to name Mr. Antonio Borges to the post of Director of the European Department of the Fund.
http://jlne.ws/96hVFy
Robert Shiller And Foreclosuregate: Playing With Systemic Fire? - Street Sweep: Fortune's Wall Street Blog
CNNMoney.com/Fortune
So say Robert Shiller, the Yale professor who was a leading skeptic of the financial bubbles of the past decade, and New York City Comptroller John Liu. They spoke Tuesday at The Economist magazine's annual Buttonwood conference, where they discussed how to manage systemic risk under the new world of regulatory reform.
http://jlne.ws/9O4Beo
Bernanke Asset Purchases Risk Unleashing 1970s Inflation Genie
By Craig Torres, Bloomberg
For the second time since he became chairman in 2006, Ben S. Bernanke is leading the Federal Reserve into uncharted monetary territory.
http://jlne.ws/caYAmJ
U.S. home prices fall 0.2% in August: Case-Shiller Economic Report
By Greg Robb, MarketWatch
Home prices fell 0.2% in August, according to the Case-Shiller home price index released Tuesday by Standard & Poor’s, in a report labelled “disappointing” by its compilers.
http://jlne.ws/9sloUm
Greece Likely to Default By 2013 as Debts Remain, El-Erian Says
By Susanne Walker, Bloomberg
Greece is likely to default over the next three years because budget-cutting won’t be enough to reduce the nation’s debt burden, Pacific Investment Management Co. Chief Executive Officer Mohamed A. El-Erian said.
http://jlne.ws/9ah6WF
`Black Swan' Author Taleb Says Financial Bonus Pay Should Be `Symmetric'
By Laura Marcinek, Bloomberg
Nassim Nicholas Taleb, author of the "The Black Swan," said bonuses to financial executives and traders should be "symmetric" with their performance to solve the problem of overconfidence in global markets.
http://jlne.ws/bsLqhY
MF Global Sees Barrier To CME's Interest-Rate Swap Clearing
By Jacob Bunge Of DOW JONES NEWSWIRES
Brokerage firm MF Global Holdings (MF) charged Monday that exchange company CME Group Inc. (CME) has set too high a threshold for participating in a new service for interest-rate swaps. MF Global, among the biggest independent futures commission merchants, said that tough capital requirements for firms looking to clear interest-rate swap deals at CME ensure that the $349 trillion market will continue to be dominated by big banks.
http://jlne.ws/bkpluW
Fed Won't Join Banks' Appeal to High Court Over Emergency-Loan Disclosures
Bloomberg
The Federal Reserve won't join a banking industry trade group in asking the U.S. Supreme Court to let the government continue to withhold details of emergency loans made to financial firms in 2008.
http://jlne.ws/9ATM1X
Shrinking Bank Revenue Signals Worst Decade of Growth
By Dawn Kopecki and Michael J. Moore, Bloomberg
Shrinking revenue at U.S. banks, led by Goldman Sachs Group Inc. and Citigroup Inc., may continue to fall as the industry heads into what could be its slowest period of growth since the Great Depression.
http://jlne.ws/90OoAv
Basel Could Make Credit Crunches Worse, Pandit Says
BusinessWeek
Citigroup Inc. Chief Executive Officer Vikram Pandit said many of the goals set by the Basel Committee on Banking Supervision are likely to be ineffective or make existing capital inequalities worse.
http://jlne.ws/cRWYAG
Vince Cable orders bankers back down to Earth on bonuses
Guardian Unlimited
Barclays' Bob Diamond mounts defence of the City as business secretary launches government review Vince Cable today warned bankers against embarking on a "self-indulgent bonus round" as he put soaring executive pay and potentially destructive takeovers at the heart of a new government review into the way the City operates. The business secretary's plea at the CBI conference followed an attempt ...
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ECB revises estimated T2S fees
By Jeremy Grant
FT.com / FT Trading Room / Clearing & Settlement
The European Central Bank has come up with a more precise estimate for how much the planned pan-European settlement system - known as Target2Securities (T2S) - will cost, setting a fee of 15 euro cents per transaction.
http://jlne.ws/dnYnHQ
Geithner's Global Central Planning
The Chinese government's accumulation of U.S. debt represents a tragic investment decision, not a currency-manipulation effort.
By JOHN H. COCHRANE, WSJ.com
Economists are full of bad ideas. Terrible ideas seem to emerge when the gurus get together to talk about coordinating their bad ideas. Last week's public letter from Treasury Secretary Tim Geithner to the G-20 finance ministers is a great example.
http://jlne.ws/a0k6jF
US Treasury: Oversight Council Taking Next Steps On Nonbank Rules
Dow Jones
The new Financial Stability Oversight Council at its second meeting next month will further discuss the criteria for identifing when a financial firm outside the banking system becomes large or complex enough to threaten markets, Deputy Treasury Secretary Neal Wolin said Monday.
http://jlne.ws/dk4kF8
Geithner's Global Central Planning
By JOHN H. COCHRANE, WSJ.com
Economists are full of bad ideas. Terrible ideas seem to emerge when the gurus get together to talk about coordinating their bad ideas. Last week's public letter from Treasury Secretary Tim Geithner to the G-20 finance ministers is a great example.
http://jlne.ws/a0k6j
Iceland Wants Failed Banker Criminal Probes Sped Up
BusinessWeek
Iceland's parliamentary committee in charge of probing the country's financial collapse wants to speed up investigations of former bank executives and ensure criminal acts are prosecuted soon.
http://jlne.ws/bgCw9z
Goldman Launches 50-Year Bond Sale
By KATY BURNE
NEW YORK-Goldman Sachs Group Inc. launched a $1.3 billion sale of 50-year bonds Tuesday, its longest senior bond ever. The sale was targeted at private, also known as retail, investors rather than institutions.
WSJ.com
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UBS reports $1.7 bln net; outflows are halted
Market Watch
UBS reports a $1.7 billion profit and halts the outflow of cash from its private- banking arm, though the group's shares drop as its investment-banking unit disappoints investors.
http://jlne.ws/asdYcO
Deutsche Bank's Biggest Deal in Decade May Hurt Profit
BusinessWeek
Deutsche Bank AG's plan to build a German consumer-banking powerhouse with the $8.9 billion purchase of Deutsche Postbank AG, its biggest takeover in a decade, may end up weighing on profitability.
http://jlne.ws/a2aM0O
BankServ's Corporate SWIFT Service Bureau to Be Offered by Bank of America Merrill Lynch
Marketwire
BankServ and Bank of America Merrill Lynch today announced an agreement to create a Global SWIFT Service Bureau solution for the bank's many Fortune 1000 clients worldwide.
http://jlne.ws/bDqUSK
OTC Derivatives May Face Curbs as FSB Seeks Central Clearing
By Jim Brunsden and Abigail Moses
Regulators should consider limiting trades in some derivatives that aren't centrally cleared in a bid to cut excessive risk, the Financial Stability Board said.
Bloomberg
http://jlne.ws/dl9E7x
Greenspan's Niece Fires Back at Hedge Fund
New York Times
It seems one hedge fund employee recently let go from Kingdon Capital wasn't going gently into that dark night.
http://jlne.ws/cFEo37
Qatar Bourse Expects to Start Bond Trading, Short-Selling in First Quarter
Bloomberg
Qatar Exchange expects to start trading in bonds in the first quarter of next year, Saif Al- Mansoori, deputy chief executive officer, said in Beirut today.
http://jlne.ws/bQQnh9
Barclays named 'Best Bank in Botswana'
Mmegi Online
For the second year running, Barclays Bank of Botswana (BBB) has been named 'Best Bank in Botswana' by emeafinance Magazine.
http://jlne.ws/bTNu0n
Abu Dhabi Islamic Bank Hires HSBC, Barclays, StanChart to Sell Dollar Bond
Bloomberg
Abu Dhabi Islamic Bank PJSC's sale of five-year Islamic bonds in dollars may be priced to yield about 3.625 percent, according to two people with knowledge of the sale.
http://jlne.ws/aJ1Nmb
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