12/8 The Wikinvest Daily Angle

Please add updates@feedmyinbox.com to your address book to make sure you receive these messages in the future. The Wikinvest Daily Angle - Market Insight and Commentary from Wikinvest.com Newsweek:Goldman Supplied 9 Pages of Proposed Changes to Derivatives Legislation December 7, 2009 at 2:01 am Today's Daily Angle comes from Wikinvest Wire member Yves Smith of Naked Capitalism. You can read the full article on NakedCapitalism.com Flash Player 9 or higher is required to view the chart Click here to download Flash Player now View the full NYSE:GS chart at Wikinvest Newsweek's "Why is Barney Frank So Effing Mad?" is supposedly about the Congressman from Fidelity but is really about how the banksters are succeeding in neutering financial reform. One Congressional staffer has told me that everyone involved recognizes the measures don't go far enough, but feel they can't do much more (Congress can step out only so far ahead of the Executive, and this one clearly is in no mood to take a more aggressive stand). The article does not come down on Frank; in fact, it repeats some of his PR uncritically: Now, gazing from behind thick glasses, his mouth set in its trademark grimace, Frank fires back. "The big banks have no influence," he says. "They couldn't stop the credit-card [reform] bill. They get the full blast of the [new] Consumer Financial Protection Agency." Ahem, let's turn the mike over to Dick Morris: The widely heralded credit card reform legislation making its way through Congress is a sellout to the credit card companies. Obama has proposed and Congress has passed a series of minor reforms that deal with the fringes of the problem – late billings, retroactive interest rate hikes, misapplication of payments and such – but fail to reform the most basic offense of the companies: their usury. Congress explicitly rejected any limitation on the interest rate credit card companies can charge. It remains perfectly legal for them to charge rates that would make a loan shark blush. And let us not forget that the new rules phase in, with one set of changes already in force and more to come in February and August 2010. Issuers have been merrily jacking up interest rates in the meantime on wide swathes of customers, including those with pristine credit scores, even though the banks' funding costs have plunged. The House, frustrated with their conduct, voted to accelerate the implementation. And the consumer protection agency? Frank fails to mention that its most powerful provision, of requiring banks to offer plain vanilla products, was excised. WTF? Banks are not merely state-chartered franchises, they are state-backstopped franchises. They are utilities and should be treated as such. Requiring them to offer stripped down, simple products would send a powerful message: banks' first duty is to provide essential services. But no, we can't have anything that might interfere with their profits, now can we? But the article does rebut Frank's whopper, that the big bank have no influence: Not even critics accuse Barney Frank of being in the pocket of Wall Street. The real question is whether he and -others are being swayed by the legislative legerdemain that Wall Street lobbyists have long practiced. The story of how those loopholes got into the derivatives bill, even with Frank at the helm and the wind of public outrage at his back, shows just how powerful the Wall Street banking lobby remains—and how complex Wall Street's financial instruments have become. "I don't think he ever fully understood the legislation" in its early stages, says Greenberger. Many of the key lobbyists now are the same gang that helped get us into this mess before, and they're spending huge sums once again. In the first three quarters of 2009, financial-industry interests have spent $344 million on lobbying efforts, putting them on pace to break all records, according to the Center for Responsive Politics. That's just for lobbyists' and lawyers' salaries, junkets, and dinners, and doesn't include political donations and issue ads. Even more impressive is the lobbying strategy that money is buying. According to insiders and industry e-mails obtained by NEWSWEEK, the banks have sought to stay in the background and put their corporate customers—a who's who of American business, including Apple, Whirlpool, and John Deere—out in front of the campaign. "This is an orchestrated, well-funded effort by the banks to manipulate our legislation and leave no fingerprints," says a congressional staffer involved in drafting the legislation. The staffer, who would speak only on condition of anonymity, passed on to NEWSWEEK nine pages of proposed changes in the legislation intended to protect trading from open scrutiny—all of it on paper without a letterhead—that she says came from Goldman Sachs. Samuel Robinson, a spokesman for Goldman, says "it's not our document" but adds that Goldman has "an active and appropriate involvement in the process of government" and supports "sensible reform." Continue reading this article on the Naked Capitalism Blog…   This email was sent to gatdemit001@gmail.com.  Create Your Account Don't want to receive this feed any longer? Unsubscribe here.

12/8 BusinessWeek.com -- Finance

Please add updates@feedmyinbox.com to your address book to make sure you receive these messages in the future. BusinessWeek.com -- Finance M&A: Hot Spots in 2010 December 7, 2009 at 9:11 pm Pros tell Bloomberg BusinessWeek which sectors could witness the most M&A activity in 2010 Options Send Bearish Signals for Stocks December 7, 2009 at 2:50 pm Rising prices for options to protect against losses in the S&P 500 over the next year show doubts about the market's ability to sustain its hefty gains Bernanke Sees Weak Jobs, Tight Credit December 7, 2009 at 2:01 pm The Fed chief says the central bank has the tools to keep price increases in check, and that inflation could keep subsiding Stocks on the Move: AmEx, AMD, Continental, Sprint December 7, 2009 at 11:41 am Plus more stocks making headlines in Monday's market Stocks Rise, Led by Health Insurers December 7, 2009 at 11:31 am Gains in the sector lifted indexes Monday, offsetting declines in financial shares on interest-rate worries Stock Picks: Discover, Akamai December 7, 2009 at 10:43 am Plus Wall Street analyst opinions on Brocade Communications and Advance Auto Parts 1980 Gold Investors Still Catching Up December 7, 2009 at 10:02 am Interest-bearing checking accounts have done better than the metal since its last peak in Jan. 1980, showing the costs of investing for safety TCW Fires Investment Chief Gundlach December 7, 2009 at 9:26 am The bond fund manager, who has outperformed Bill Gross's Pimco Total Return Fund over the last 10 years, was replaced in a surprise move on Dec. 5 Absolute Return: Preparing for an Uncertain 2010 December 7, 2009 at 12:01 am Worries about the direction of all asset classes may make an absolute return strategy a smart 2010 portfolio bet. Here's the long and the short of it Experts Talk Bernanke, Emerging Markets, Stocks December 7, 2009 at 12:01 am What Wall Street economists and strategists had to say about key developments on Dec. 7   This email was sent to gatdemit001@gmail.com.  Create Your Account Don't want to receive this feed any longer? Unsubscribe here.

12/7 The Financial Daily News Ticker

Please add updates@feedmyinbox.com to your address book to make sure you receive these messages in the future. The Financial Daily News Ticker - All News and Information about the Capital Market Lloyds 'breathing life' into ghost bank December 7, 2009 at 12:00 am Lloyds 'breathing life' into ghost bank... Cabinet nods insurance cover for the disabled December 7, 2009 at 12:00 am Cabinet nods insurance cover for the disabled... AIA Group to raise $10bn in IPO December 7, 2009 at 12:00 am AIA Group to raise $10bn in IPO... Insurance stocks sluggish December 7, 2009 at 12:00 am Insurance stocks sluggish... The Spirit of Takaful - TAKAFUL TALK December 7, 2009 at 12:00 am The Spirit of Takaful - TAKAFUL TALK... Greenback likely to rally this week December 7, 2009 at 12:00 am Greenback likely to rally this week... Sterling logs gains for week vs euro December 7, 2009 at 12:00 am Sterling logs gains for week vs euro... Peso leads Asian currency gains as recovery builds December 7, 2009 at 12:00 am Peso leads Asian currency gains as recovery builds... Specs increase short bets on USD: CFTC December 7, 2009 at 12:00 am Specs increase short bets on USD: CFTC... Canadian $ falls as US data sparks rate woes December 7, 2009 at 12:00 am Canadian $ falls as US data sparks rate woes... Corn, wheat plunge 2pc as $ soars December 7, 2009 at 12:00 am Corn, wheat plunge 2pc as $ soars... Cocoa pares gains; sugar, coffee decline December 7, 2009 at 12:00 am Cocoa pares gains; sugar, coffee decline... Copper slips as US data boosts $ December 7, 2009 at 12:00 am Copper slips as US data boosts $... Crude sheds $1 on strong greenback December 7, 2009 at 12:00 am Crude sheds $1 on strong greenback... USD rally, jobs data shove gold into reverse December 7, 2009 at 12:00 am USD rally, jobs data shove gold into reverse... US cotton drops as resurging dollar hurts December 7, 2009 at 12:00 am US cotton drops as resurging dollar hurts... Asif takes Pakistan to Test win after 3 years December 7, 2009 at 12:00 am Asif takes Pakistan to Test win after 3 years... Khan destroys Salita to secure WBA title December 7, 2009 at 12:00 am Khan destroys Salita to secure WBA title... Kaneria becomes Pakistan's best spinner December 7, 2009 at 12:00 am Kaneria becomes Pakistan's best spinner... Australia win record 10th CT December 7, 2009 at 12:00 am Australia win record 10th CT... Pak hockey must get into top 6 December 7, 2009 at 12:00 am Pak hockey must get into top 6... India win Lanka series, ICC top spot December 7, 2009 at 12:00 am India win Lanka series, ICC top spot... PCB, ICC mull using 2 balls in ODIs December 7, 2009 at 12:00 am PCB, ICC mull using 2 balls in ODIs... Abu Dhabi leads Gulf rebound December 7, 2009 at 12:00 am Abu Dhabi leads Gulf rebound... Wall Street seeks Santa Claus rally December 7, 2009 at 12:00 am Wall Street seeks Santa Claus rally... Weaving economy from carpet industry December 7, 2009 at 12:00 am Weaving economy from carpet industry... Less than what meets the eye December 7, 2009 at 12:00 am Less than what meets the eye... Farm-boom in five years? December 7, 2009 at 12:00 am Farm-boom in five years?... Let there be light - Founder of LEDtronics - Pervaiz Lodhie December 7, 2009 at 12:00 am Let there be light - Founder of LEDtronics - Pervaiz Lodhie... NRO cases' hearing commences today December 7, 2009 at 12:00 am NRO cases' hearing commences today... 3 retired judges to assist larger bench December 7, 2009 at 12:00 am 3 retired judges to assist larger bench... Shahbaz to move SC on political loans December 7, 2009 at 12:00 am Shahbaz to move SC on political loans... Gilani names new chief of FIA December 7, 2009 at 12:00 am Gilani names new chief of FIA... Altaf demands Nat'l Counter Terrorism Policy December 7, 2009 at 12:00 am Altaf demands Nat'l Counter Terrorism Policy... Mild quake jolts parts of country December 7, 2009 at 12:00 am Mild quake jolts parts of country... Afghan mission, an abortive try: Gates December 7, 2009 at 12:00 am Afghan mission, an abortive try: Gates... Commander among five terrorists killed in Swat December 7, 2009 at 12:00 am Commander among five terrorists killed in Swat... Parade Lane attack report sent to Punjab govt December 7, 2009 at 12:00 am Parade Lane attack report sent to Punjab govt... NSC moot convened on 16th December 7, 2009 at 12:00 am NSC moot convened on 16th... President promulgates 2 Ordinances December 7, 2009 at 12:00 am President promulgates 2 Ordinances... Malik gives heads up on India terror hand December 7, 2009 at 12:00 am Malik gives heads up on India terror hand... Sindhi Topi, Ajrak Day celebrated for first time December 7, 2009 at 12:00 am Sindhi Topi, Ajrak Day celebrated for first time... India minister contradicts colleagues on Pak nukes December 7, 2009 at 12:00 am India minister contradicts colleagues on Pak nukes... Joint session on B'stan Package today December 7, 2009 at 12:00 am Joint session on B'stan Package today... SECP doubts First Women Bank audit report December 7, 2009 at 12:00 am SECP doubts First Women Bank audit report... Bourses suffer $5.32mn outflow December 7, 2009 at 12:00 am Bourses suffer $5.32mn outflow... Kamal inaugurates Rs80mn projects December 7, 2009 at 12:00 am Kamal inaugurates Rs80mn projects... Govt decides to reduce cabinet volume December 7, 2009 at 12:00 am Govt decides to reduce cabinet volume... Plan to set up 200 trade centres in the offing December 7, 2009 at 12:00 am Plan to set up 200 trade centres in the offing... Indo-Pak painting exhibition held December 7, 2009 at 12:00 am Indo-Pak painting exhibition held...   This email was sent to gatdemit001@gmail.com.  Create Your Account Don't want to receive this feed any longer? Unsubscribe here.

12/7 Finance Roll - Business, Finance, News and more ...

Please add updates@feedmyinbox.com to your address book to make sure you receive these messages in the future. Finance Roll - Business, Finance, News and more ... Japanese companies sales overseas, yen gain December 6, 2009 at 10:33 pm Financeroll.com - The yen strengthened for the first time in five days against the euro and the dollar on speculation Japanese companies are bringing back overseas earnings.   This email was sent to gatdemit001@gmail.com.  Create Your Account Don't want to receive this feed any longer? Unsubscribe here.

12/7 Yahoo! Finance: PFE News

Please add updates@feedmyinbox.com to your address book to make sure you receive these messages in the future. Yahoo! Finance: PFE News - Latest Financial News for PFIZER INC UPDATE - Bayer, J&J take more time in bid to convince FDA (at Reuters) December 6, 2009 at 6:09 pm [video] Stocks Under $10: 2 Potential Buys (at TheStreet.com) December 6, 2009 at 12:00 pm [video] Stocks Under $10: Two Buys (at TheStreet.com) December 6, 2009 at 12:00 pm Astra-Zeneca Flies to JUPITER on Drug Results (at Seeking Alpha) December 6, 2009 at 9:04 am Boehringer's blood-thinner also fights clots-study (at Reuters) December 6, 2009 at 8:56 am   This email was sent to gatdemit001@gmail.com.  Create Your Account Don't want to receive this feed any longer? Unsubscribe here.