Echoing Obama, Bernanke Presses China on Imbalances
By JACK EWING and SEWELL CHAN, Newe York Times
Ben S. Bernanke, the Federal Reserve chairman, argued Friday that currency undervaluation by China and other emerging markets was at the root of “persistent imbalances” in trade that “represent a growing financial and economic risk.”
http://jlne.ws/a1a5s8
China to raise bank reserve requirement ratio
BEIJING (AFP) - China's central bank said on Friday it would raise the amount of money that lenders must keep in reserve as officials step up efforts to contain rising inflation and soaring housing costs.
http://jlne.ws/cAMJfL
CDS Have Edge on Taxables
By Dan Seymour
Anyone considering buying a taxable municipal bond might want to get a quote on some municipal credit-default swaps first. Chances are, the CDS is a higher-yielding way to play the municipal market.
http://jlne.ws/bf4dYh
Lippmann Focuses Hedge Fund Buying on Subprime Debt
BusinessWeek
Greg Lippmann, the former Deutsche Bank AG trader who gained fame for his bets against subprime- mortgage securities, focused his hedge fund's buying on the debt in its first month.
http://jlne.ws/aqtroG
No joke, Will Ferrell fined as Finra case flops
New York Post
Funnymen Will Ferrell and Larry David were laughed off the stage recently by Wall Street's self-policing arm, the Financial Industry Regulatory Authority, for their slapstick effort to sue brokerage firm JPMorgan Securities. Movie star Ferrell, and David, of "Seinfeld" and "Curb Your Enthusiasm," lost an $18 million arbitration case...
http://jlne.ws/9WvGLU
Top Barclays bank analyst heads for French Broker
eFinancial News
Tom Rayner, Barclays' highly-regarded UK banks analyst, has quit for French broker Exane BNP Paribas, in a team build headhunters say could cost more than L6m.
http://jlne.ws/bkGLRD
NYSE Euronext Plans to Clear OTC Equity Derivatives, Jones Says
By Nandini Sukumar
NYSE Euronext, the world's largest stock exchange, is examining "opportunities" to clear over- the-counter equity derivatives, as regulators push banks to process more trades through clearinghouses to reduce risk.
Bloomberg
http://jlne.ws/9qJcGo
Lawmakers hit banks, regulators on foreclosures
By Dave Clarke and Corbett B. Daly
WASHINGTON (Reuters) - Lawmakers hauled the top U.S. mortgage lenders and their regulators to Capitol Hill on Thursday to chastise them for widespread flaws in foreclosure documents, but failed to extract any promises of fines or fresh loan modification programs.
http://jlne.ws/bz6fzn
Bernanke hits back at critics of bond-buying plan
By JEANNINE AVERSA, AP Economics Writer
WASHINGTON - Federal Reserve Chairman Ben Bernanke has sought to defuse criticism of the Fed's $600 billion bond-purchase plan by arguing that it's needed to boost the economy and reduce unemployment. But he warned that the Fed's program can't succeed on its own.
http://jlne.ws/dei4au
U.S. Regulators Consider 15-Minute Delay in Swaps Block Trades
By Silla Brush and Matthew Leising
The U.S. Commodity Futures Trading Commission is proposing a 15-minute delay for reporting prices of block trades of standardized swaps on exchanges or so-called swap execution facilities.
Bloomberg
http://jlne.ws/cTtysU
Meredith Whitney Seeks to Launch New Credit Rating Agency
By MELLY ALAZRAKI
Meredith Whitney rose to fame as one of the few people who predicted the financial crisis ahead of time, with her bearish calls on banks and warnings about the dangers to the economy from the housing bubble. As such, she's probably one of the more-qualified people to head a credit agency -- and now she plans to start one, the Financial Times reports.
http://jlne.ws/9WI0eW
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