Financial Meltdown Was ‘Avoidable,’ Inquiry Concludes
By SEWELL CHAN, The New York Times
The 2008 financial crisis was an “avoidable” disaster caused by widespread failures in government regulation, corporate mismanagement and heedless risk-taking by Wall Street, according to the conclusions of a Congressional inquiry.
http://jlne.ws/esD8T7
Traders Laying Groundwork For New Type Of Credit Derivative
By Katy Burne
A clutch of traders at big investment banks is trying to get a new kind of derivative instrument off the ground that would help them mitigate the risk of a growing correlation between interest rates and risk premiums in the credit markets.
http://jlne.ws/eTj0pW
NYSE Euronext Bond-Trading Venture To Go Live In March
By Jacob Bunge, Dow Jones Newswires
NYSE Euronext (NYX) aims to launch a new bond-trading effort in March after securing approval from U.S. securities market regulators, according to the exchange company. The Securities and Exchange Commission last week cleared NYSE Euronext to move ahead with a program that will see major brokers and electronic trading firms make a new market in the debt of companies listing shares on NYSE Euronext.
http://jlne.ws/fZnki7
Newedge appointed swap counterparty by Aspect Capital on new UCITS launch
Press Release
Newedge, a global leader in multi-asset brokerage and clearing, announces its appointment by Aspect Capital Limited, as swap counterparty to the Aspect Diversified Trends Fund, a Dublin domiciled UCITs-compliant fund with daily liquidity.
http://jlne.ws/dxcSLk
Wall Street Partying in Davos as Bankers Overcome Crisis Angst
Bloomberg
As Wall Street chief executive officers flock to the World Economic Forum, they'll be breathing a sigh of relief along with the Swiss mountain air: There are no panels on compensation or redesigning financial regulation.
http://jlne.ws/fiCEN4
JPMorgan Refused Mortgage Repurchases It Also Sought, Ambac Assurance Says
Bloomberg
JPMorgan Chase & Co. demanded that a lender repurchase bad mortgages even as it resisted calls to buy back the loans from bonds created by Bear Stearns Cos., an insurer said in court papers.
http://jlne.ws/e5ADoT
Citigroup Bailout Warrants Will Be Auctioned by U.S.
BusinessWeek
The U.S. Treasury Department announced plans to auction warrants to purchase stock in Citigroup Inc. that taxpayers received as part of the bank's $45 billion rescue during the financial crisis.
http://jlne.ws/f7gv9r
HSBC chief drops Hong Kong move
Channel NewsAsia
HONG KONG: The new chief executive of HSBC has dropped plans to relocate to Hong Kong, where his predecessor was based to push the bank's Asia business, and will stay in London, a report said Tuesday.
http://jlne.ws/f9MYkY
Madrid tells banks to boost core capital
By Victor Mallet in Madrid - Financial Times
Spain will force its weaker savings banks to raise more capital or face nationalisation in an effort to restore confidence in the Spanish economy.
http://jlne.ws/f5VEnd
American Express Falls Short With 48% Profit Jump
Forbes
In the fourth quarter of 2010, American Express saw profits shoot higher but not as high as analysts had forecasted.
http://jlne.ws/gs4QmW
Paulson posts more than $1bn in Citi gains
By Sam Jones in London and Dan McCrum in New York - Financial Times
Paulson & Co, the world's third-largest hedge fund manager, has told clients it has made more than $1bn from its stake in Citigroup over the past 18 months and expects US growth to accelerate this year.
http://jlne.ws/edPMRf
Morningstar adds OTC Markets Group data to Quotes feed
Press Release
Morningstar (NASDAQ: MORN), a leading provider of independent investment research, today announced that the company has added OTC Markets Group data (previously known as Pink OTC Markets) to its Morningstar Quotes Data Feed.
http://jlne.ws/eaPQ4R
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