Tim Geithner: Financial Crisis Amnesia
WSJ.com
Four years ago, on an evening in March 2008, I received a call from the CEO of Bear Stearns informing me that they planned to file for bankruptcy in the morning. Bear Stearns was the smallest of the major Wall Street institutions, but it was deeply entwined in financial markets and had the perfect mix of vulnerabilities. It took on too much risk. It relied on billions of dollars of risky short-term financing. And it held thousands of derivative contracts with thousands of companies.
http://jlne.ws/w6Mi81
GFI Group Announces the Departure of James Higgins and Appointment of Richard Giles
Press Release
GFI Group Inc. (NYSE: "GFIG"), a leading provider of wholesale brokerage, electronic execution and trading support products for global financial markets, today announced the departure of James Higgins as Head of its North American Fixed Income brokerage operations. Mr. Higgins is leaving to pursue new business opportunities. GFI also announced that Richard Giles, Managing Director and North American Head of Commodities and Energy Brokerage, will assume additional duty as Head of GFI’s North American Fixed Income Brokerage, succeeding Mr. Higgins.
http://jlne.ws/A7DNS8
Sarah Bloom Raskin: Accommodative monetary policy and its effects on savers
Speech by Ms Sarah Bloom Raskin, Member of the Board of Governors of the Federal
Reserve System, at the Y’s Men and Y’s Women of Westport, Westport, Connecticut,
1 March 2012.
http://jlne.ws/yT9Bbl
Fed’s Bullard: Good Time to Wait and See - Real Time Economics
WSJ.com
St. Louis Federal Reserve Bank President James Bullard said Friday he’s hopeful of “moderate” economic expansion in the U.S. after better-than-expected data in recent months. The U.S. Federal Open Market Committee must be prepared to adjust the rate path it has provided “if necessary,” Bullard said in an interview with Canada’s Business News Network. Bullard isn’t currently a voting member of the rate-setting FOMC.
http://jlne.ws/x6hMEi
Dodd-Frank Debate Continues
NYSE Eurex
A recent Economist editorial critical of Dodd-Frank has drawn a heated response from the Act’s co-authors, as well as other Washington policymakers. In its Feb. 18 editorial, the Economist writes there is “an ever-more-apparent risk that the harm done by the massive cost and complexity of [Dodd-Frank’s] regulations, and the effects of its internal inconsistencies, will outweigh what good may come from it.”
http://jlne.ws/AslO9G
Morgan Stanley banker placed on leave after alleged stabbing
Chicago Tribune
Morgan Stanley has placed a senior investment banker on leave following his arrest this week on assault and hate crime charges for allegedly stabbing a taxi driver over a fare dispute.
http://jlne.ws/wwmADf
Fed’s Bullard: Good Time to Wait and See
WSJ.com
St. Louis Federal Reserve Bank President James Bullard said Friday he’s hopeful of “moderate” economic expansion in the U.S. after better-than-expected data in recent months.
http://jlne.ws/x6hMEi
Business cycles: Tracking the euro-zone economy in real time
The Economist
THE short-term outlook for the world economy seems to hinge on whether a resolution to Europe's debt crisis can be found. A resolution, in turn, will be difficult to come by if the euro zone falls back into recession. If output is shrinking and unemployment rising, then austerity measures are likely to make economic conditions worse while raising very little new revenue. The euro zone may fall ever deeper into a hole.
http://jlne.ws/xPB231
Fed Shrugged Off Warnings, Let Banks Pay Shareholders Billions
Pro Publica
In early November 2010, as the Federal Reserve began to weigh whether the nation’s biggest financial firms were healthy enough to return money to their shareholders, a top regulator bluntly warned: Don’t let them.
http://jlne.ws/yk7FDm
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