Top Interest Rate Headlines 01-28-11: Economists React: ‘The U.S. Economy Is Back’

Economists React: ‘The U.S. Economy Is Back’
By Phil Izzo, WSJ.com
Risks are now moving from the downside to the upside. If the forecast is off it will most likely be because hiring kicks in faster than expected. Firms have the cash to hire; they just need the confidence to do so, and that could develop quickly. The major downside risk remains a global sovereign debt crisis that would roil financial markets, cause businesses and consumers to cut back, and reduce exports.
http://jlne.ws/h4ZjvE


The 2011 World Economic Forum in Davos, Switzerland
Dignitaries, economists, and business leaders from around the world gather in Davos, Switzerland, for the annual World Economic Conference. They will discuss free markets and the global economic recovery during the five-day conference.
http://jlne.ws/ikmYU8

Ardian Fullani, Governor of Bank of Albania, analysis of domestic economic developments, banking sector
BIS
Ladies and Gentlemen,
The Bank of Albania considers its communication with the public a key element to an effective communication of its decision-making. To serve this purpose, it makes use of all forms and types of communication. However, direct contact with the people provides us with a real perception and interpretation of their position and expectations and supports a more effective decision-making process. Therefore, I am pleased to be again in your city, the centre of a region of well-known intellectual, cultural and patriotic...
http://bis.org/review/r110128e.pdf


Chapdelaine Credit Partners Said to Close as Primus Deal Fails
By Lisa Abramowicz, Bloomberg
Chapdelaine Credit Partners, the bond broker started two years ago when debt markets seized up, will close next week after failing to raise capital, according to people with direct knowledge of the matter.The firm held a meeting in New York today to inform employees that the unit of Chapdelaine & Co., a municipal bond broker founded in 1966, will close as soon as Jan. 31, said the people, who declined to be identified because they aren’t authorized to discuss the changes publicly.

Few Signs of United Approach to Financial Regulation
By JACK EWING - NY Times
DAVOS, Switzerland - This heavily guarded ski village is probably the only place on the planet where you can get the world's top central bankers, regulators, economists and business leaders to sit down together in the same room.
http://jlne.ws/gX4Er4

Merkel Defies Deutsche Bank as Ackermann Frets Over Sinking Bonds in Davos
Bloomberg
The leader of Europe's biggest economy and the head of Germany's largest bank, partners in a financial rescue two years ago, are rattling investors with their feud about how to manage the sovereign-debt crisis.
http://jlne.ws/i5ta9S

Experts predict eurozone debt reforms
By Chris Giles in Davos - Financial Times
The financial markets may have offered a recent respite to highly indebted eurozone members but they will still be forced into early sovereign restructuring, said leading economists at the World Economic Forum in Davos.
http://jlne.ws/e8BMAK

Citigroup Chief Pandit Sees `Robust' Capital Markets, Support for the Euro
Bloomberg
Client flows are strong and stable for Citigroup, and credit quality is a "lot better than a year ago," Pandit said today during an interview in Davos, Switzerland, on Bloomberg Television's "Inside Track."
http://jlne.ws/i5yZAt

BofA, Barclays, Credit Suisse, JPMorgan Confer in Davos About Rules, Risk
Bloomberg
Robert Diamond, chief executive officer of Barclays Plc, talks about winning back the public's trust and market share in the bank's merger and acquisition advisory business.
http://jlne.ws/fRYMhj

Sarkozy tells G20 'dare to dream'
By Chris Giles in Davos
The legitimacy of the Group of 20 leading economies rests on "its abilities to take decisions", Nicolas Sarkozy, the French president, told the World Economic Forum on Thursday.
http://jlne.ws/dO5T7S

Harsh Words for Regulators in Crisis Commission Report
By BEN PROTESS and SUSANNE CRAIG - NY Times
The Congressional commission's scathing account of the financial crisis casts regulators in a rather unflattering light, as the sheriff who didn't stop Wall Street from becoming the Wild West.
http://jlne.ws/gnxzV2

New York Fed Weighed Ousting Fuld, Helping Pick His Successor
By Craig Torres and Caroline Salas
Federal Reserve officials considered the need to fire Lehman Brothers Holdings Inc. Chairman Richard Fuld just before the firm collapsed in 2008, an e-mail released by the Financial Crisis Inquiry Commission showed. "Does Fuld have to be replaced on Sunday?" the e-mail memo, dated Sept. 10, 2008, asks. "If so, do we exercise influence over the choice of his successor?"
http://jlne.ws/gu0hIG

Goldman Got $2.9 Billion for Own Bets in AIG Bailout, FCIC Says
BusinessWeek
Goldman Sachs Group Inc. received $2.9 billion for its own account as a taxpayer bailout enabled American International Group Inc. to make good on credit-default swaps linked to mortgages, a congressionally appointed panel said.
http://jlne.ws/foqgfI

La Caixa banking unit to be listed group
By Victor Mallet, Financial Times
La Caixa, the unlisted Barcelona-based savings bank that has the biggest domestic retail network in Spain, will move its banking operations into a listed company as part of a plan to strengthen its capital base and continue growing.
http://jlne.ws/go3tEL


Morgan Stanley Names 232 Managing Directors, the Largest Number Since 2007
Bloomberg
Morgan Stanley , owner of the world's largest brokerage, appointed 232 new managing directors, the most to achieve the company's highest rank since 2007.
http://jlne.ws/ed683Y

RBS fights for universal cause
eFinancial News
Financial institutions with investment banking and retail banking divisions are less risky than narrow banks. Or at least that is what this chart argues. Author of the chart? Well, the Royal Bank of Scotland, a universal bank.
http://jlne.ws/f9kJgX

Schwab Declares Regular Quarterly Dividend
Business Wire
SAN FRANCISCO--(BUSINESS WIRE)--The Board of Directors of The Charles Schwab Corporation has declared a regular quarterly cash dividend of $0.06 per common share. The dividend is payable February 25, 2011 to stockholders of record February 11, 2011. About Charles Schwab The Charles Schwab Corporation (NYSE:SCHW) is a leading provider of financial services, with more than 300 offices and 8.0 ...
http://jlne.ws/gwbbwJ