12/19 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 On releasing Citi from TARP and banking by accounting subterfuge December 18, 2009 at 2:01 am Today's Daily Angle comes from Wikinvest Wire member Edward Harrison of CreditWritedowns.com. You can read the full article on Edward's blog. Flash Player 9 or higher is required to view the chart Click here to download Flash Player now View the full NYSE:C chart at Wikinvest Credit Writedowns has made it clear how little will there is in Washington for substantive reform in financial services. But, let's be more explicit in this post about what policy makers are doing. I will use the recent Citigroup TARPbrouhaha and changes to the implementation timetable of accounting rules as the vehicle for this discussion. The conventional wisdom about what is wrong Here is what I believe is the conventional wisdom in Washington, as voiced in my April post Channeling my inner Larry Summers in mock-Summers first person: Ultimately, the jump start from stimulus and quantitative easing will start to kick in while all of this is ongoing. The result will be a growing economy and healthier banks. Nevertheless, we should implement some stress tests on institutions to gauge how much capital each institution would need in a worst-case scenario. Those banks faring poorest will need to take remedial action as soon as possible. However, under no circumstances should we ever imply that any individual institution is insolvent. This creates doubt and during times of stress it is not the wisdom of crowds, but the panic of crowds that is on display. Doubts about one institution are likely to have knock-on effects for others creating a systemic problem. This must be avoided at all costs. Obviously, if these plans do not work out because the economy declines more than expected, we can always fall back to the more coercive, interventionist mode of nationalization. However, that is Plan B only – measures to be taken only if necessary. I am confident these plans will work. We are already seeing some faint signs of recovery. Mind you, unemployment will continue to rise at a devastating clip. But, by the second half of 2009, we should see some many more signs of recovery and with all of these plans in place, the liquidity crisis will be recede into the past. All actions by policy makers in the U.S. banking system stem from the views implicit or explicit in these paragraphs, namely: The banking system is at the heart of our economy and large financial institutions are more important to the U.S. economy and our standing as a financial center than small institutions. The status quo is not all bad. On the other hand, fundamental change is destabilizing, while incremental change is good. We experienced what was mostly a liquidity crisis in finance; The U.S. banking system is fundamentally sound. Government ownership and banks don't mix. Monetary and economic stimulus will be effective in the medium- and long-term, especially if asset prices stabilize. Time is our friend; buying time recapitalizes banking through the back door. So, the goal has been to end the banking system liquidity crisis first, right the economy again, and, once things are well in-hand, implement major tweaks to our regulatory system to prevent a repeat of this crisis. While this seems a reasonable strategy, it falls well short of what is necessary because it is predicated on flawed ideas. But, before I get into those flaws, let me point out how these ideas manifest themselves in policy on Citi and on accounting. Click here to continue reading this article on the CreditWriteDowns Blog…   This email was sent to gatdemit001@gmail.com.  Create Your Account Don't want to receive this feed any longer? Unsubscribe here.

12/19 DailyFinance

Please add updates@feedmyinbox.com to your address book to make sure you receive these messages in the future. DailyFinance Obama Clinches Non-Binding Climate Deal as Copenhagen Summit Ends December 18, 2009 at 6:21 pm After hours of frantic negotiations, President Barack Obama emerged from the Copenhagen climate talks holding an agreement with China, India, and other developing countries designed to fight global climate change. The agreement, which falls short of environmentalists' hopes, nevertheless represents a political victory for the American president. Appearing at a press conference a 11 p.m. Copenhagen time, a tired-looking Obama described the pact as a "meaningful and unprecedented breakthrough." Still, the agreement will face immediate criticism -- and relief from climate-change skeptics -- due to the lack of required emission-reduction targets. "It will not be legally binding," Obama conceded, adding that binding emissions targets were "not achievable at this meeting." Continue reading Obama Clinches Non-Binding Climate Deal as Copenhagen Summit Ends Obama Clinches Non-Binding Climate Deal as Copenhagen Summit Ends originally appeared on DailyFinance on Fri, 18 Dec 2009 18:21:00. Filed Under: Green Permalink | Tweet this! | Comments A Glaring Omission in Bank of America's Moynihan Announcement December 18, 2009 at 6:00 pm Sometimes, it's better not to leave things unsaid. Bank of America (BAC), which announced on Wednesday that Brian Moynihan will become the firm's new chief executive officer, made a glaring omission in its press release about Moynihan. Continue reading A Glaring Omission in Bank of America's Moynihan Announcement A Glaring Omission in Bank of America's Moynihan Announcement originally appeared on DailyFinance on Fri, 18 Dec 2009 18:00:00. Filed Under: Company News, Bank of America Permalink | Tweet this! | Comments SEC Requires More Details on Executive Compensation December 18, 2009 at 4:27 pm On Thursday, by a 4 to 1 vote, the SEC approved a series of changes to the way companies have to disclose compensation on those pesky proxy statements which have become something of a rite of spring in the investing world. Continue reading SEC Requires More Details on Executive Compensation SEC Requires More Details on Executive Compensation originally appeared on DailyFinance on Fri, 18 Dec 2009 16:27:00. Filed Under: Economy, Investing Permalink | Tweet this! | Comments Facebook's New Privacy Settings Spark a Public Spat December 18, 2009 at 3:45 pm It was only a matter of time until someone decided to challenge Facebook legally. Social media and privacy are constantly at odds, with service providers trying desperately to create boundaries and encourage users to blow past them. Bigger networks, more friends and boatloads of user-generated content translate to more traffic, eyeballs and cash in the bank. Continue reading Facebook's New Privacy Settings Spark a Public Spat Facebook's New Privacy Settings Spark a Public Spat originally appeared on DailyFinance on Fri, 18 Dec 2009 15:45:00. Filed Under: Technology, Media, Facebook Permalink | Tweet this! | Comments Scientists Map Cancer Genes; Personalized Treatments Could Be Next December 18, 2009 at 3:28 pm In what some call a win in the war on cancer, scientists in England have for the first time managed to decipher and map cancer genomes, potentially paving the way for treatments tailored to individual patients. Full genomes for lung cancer and melanoma, a skin cancer, were mapped. "These are the two main cancers in the developed world for which we know the primary exposure," explains Professor Mike Stratton, from the Cancer Genome Project at the Wellcome Trust Sanger Institute. Lung cancer also has the highest mortality rate among cancers worldwide. Continue reading Scientists Map Cancer Genes; Personalized Treatments Could Be Next Scientists Map Cancer Genes; Personalized Treatments Could Be Next originally appeared on DailyFinance on Fri, 18 Dec 2009 15:28:00. Filed Under: Healthcare Permalink | Tweet this! | Comments How Tiger Shook the Tabloids Off His Tail December 18, 2009 at 2:53 pm Too bad for John Edwards that he's a politician and not a famous athlete. If Edwards had been a sports star, perhaps he could have made like Tiger Woods and cut a deal to keep his marital indiscretions from going global, at least for a time. And Woods isn't the only one who's made such a deal. Continue reading How Tiger Shook the Tabloids Off His Tail How Tiger Shook the Tabloids Off His Tail originally appeared on DailyFinance on Fri, 18 Dec 2009 14:53:00. Filed Under: People, Media Permalink | Tweet this! | Comments Retailers Accept Food Stamps from More Consumers December 18, 2009 at 2:31 pm Food stamps aren't what they used to be. In this recession, they're appearing in the hands of people who never thought they would need them. And retailers are adjusting to that "new normal." Some stores have had to change they way to do business to accommodate shoppers on food stamps, Reuters reports. They're staffing up on the first day of the month -- when the benefits arrive -- by stocking up on more eligible items and updating their checkout technology. Continue reading Retailers Accept Food Stamps from More Consumers Retailers Accept Food Stamps from More Consumers originally appeared on DailyFinance on Fri, 18 Dec 2009 14:31:00. Filed Under: Company News, Economy, Wal-Mart Stores, Costco Wholesale Corp. Permalink | Tweet this! | Comments Harvard's Toxic Swaps: Interest Rate Bets Cost It Billions December 18, 2009 at 2:15 pm Everyone knows Harvard. The prestigious 373-year-old university rejects 95% of the people who apply. But the ones who get in usually end up doing pretty well. The Ivy League institution counts JFK and FDR among its alumni -- but that's ancient history. It also can claim such respected finance gurus as former U.S. Treasury Secretary and current Obama economic advisor Larry Summers, and current U.S. Fed Chair and Time Person of the Year Ben Bernanke. Continue reading Harvard's Toxic Swaps: Interest Rate Bets Cost It Billions Harvard's Toxic Swaps: Interest Rate Bets Cost It Billions originally appeared on DailyFinance on Fri, 18 Dec 2009 14:15:00. Filed Under: Economy, People, Investing Permalink | Tweet this! | Comments Ardath Rodale, Health Publishing Matriarch, Dies at 81 December 18, 2009 at 2:09 pm A week of change at Rodale Inc. concluded Friday with one very sad one: Ardath Rodale, former chairman and longtime matriarch of the health-publishing family, has died, according to a statement from the company. No cause of death was given. She was 81. Rodale spent more than 50 years working for the company that bears her family's name. Rodale Inc. publishes such titles as Prevention, Organic Gardening and Men's Health. Continue reading Ardath Rodale, Health Publishing Matriarch, Dies at 81 Ardath Rodale, Health Publishing Matriarch, Dies at 81 originally appeared on DailyFinance on Fri, 18 Dec 2009 14:09:00. Filed Under: People, Media Permalink | Tweet this! | Comments Pepsi Ditches Super Bowl Ads for Social Networking Campaign December 18, 2009 at 2:00 pm While watching the Super Bowl this upcoming February, some viewers may notice a conspicuous absence: PepsiCo (PEP), which has advertised during the past 23 Super Bowl shows, won't be running any Pepsi commercials, according to The Wall Street Journal. Before you brush this off as a non-event, let me remind you of some of the Pepsi commercials of Super Bowl past. The beverage maker has long paraded a series of A-listers to entertain us between plays. Puff Daddy (P Diddy, whatever you call him), Jackie Chan, Cindy Crawford (I will never forget that ad), and Ozzy Osbourne. Continue reading Pepsi Ditches Super Bowl Ads for Social Networking Campaign Pepsi Ditches Super Bowl Ads for Social Networking Campaign originally appeared on DailyFinance on Fri, 18 Dec 2009 14:00:00. Filed Under: Columns, Pepsico Permalink | Tweet this! | Comments Are Actively Managed ETFs Right for You? December 18, 2009 at 1:00 pm The term "actively managed exchange-traded fund" sounds like a contradiction in terms. A chief selling point of ETFs, after all, is that they're indexed, or passively managed, which keeps a lid on costs. But now asset managers including Putnam Investments, T. Rowe Price (TROW), Vanguard, and Pimco are racing to cash in on the growing interest in actively managed ETFs. So just what's the appeal of having a real live portfolio manager at the helm of an ETF? Continue reading Are Actively Managed ETFs Right for You? Are Actively Managed ETFs Right for You? originally appeared on DailyFinance on Fri, 18 Dec 2009 13:00:00. Filed Under: Investing, ETFs Permalink | Tweet this! | Comments Insurers Will Come Back to Hedge Funds in 2010 December 18, 2009 at 12:30 pm Insurance companies cut their hedge fund allocations in 2009, but the sting of the financial crisis will wear off next year. Look for more insurance money to flow into the hedge fund sector in 2010, as carriers seek to take advantage of an economic recovery. Continue reading Insurers Will Come Back to Hedge Funds in 2010 Insurers Will Come Back to Hedge Funds in 2010 originally appeared on DailyFinance on Fri, 18 Dec 2009 12:30:00. Filed Under: Investing, Marsh & McLennan Cos., American International Group, INC., One Year Later Permalink | Tweet this! | Comments Twitter Attacked by 'Iranian Cyber Army' December 18, 2009 at 11:45 am Twitter, the Web wunderkind with a $1 billion valuation, was attacked Thursday night by a group calling itself the "Iranian Cyber Army." The cyber attack was an alarming injection of apparent geopolitics onto the world's biggest social messaging service. The hackers, who took over Twitter's website for several hours, left a somewhat incoherent message that seemed to threaten the U.S. Continue reading Twitter Attacked by 'Iranian Cyber Army' Twitter Attacked by 'Iranian Cyber Army' originally appeared on DailyFinance on Fri, 18 Dec 2009 11:45:00. Filed Under: Company News Permalink | Tweet this! | Comments No Sale: GM Will Send Saab to the Scrapyard December 18, 2009 at 11:40 am General Motors plans to begin winding down operations of its Saab unit, after it was unable to reach a deal to sell the brand to Dutch concern Spyker Cars, the company said in a brief statement Friday. The announcement followed last month's collapse of a bid by Swedish luxury carmaker Koenigsegg Group to buy the 72-year-old automaker. Continue reading No Sale: GM Will Send Saab to the Scrapyard No Sale: GM Will Send Saab to the Scrapyard originally appeared on DailyFinance on Fri, 18 Dec 2009 11:40:00. Filed Under: Company News, General Motors Permalink | Tweet this! | Comments Going Local: Why Google Wants to Buy Yelp December 18, 2009 at 11:10 am Google (GOOG) is in talks to buy local business-review site Yelp for as much as $500 million, or at least that's what tech industry website TechCrunch is reporting. Yelp, which lets reviewers rate local businesses, has over 9 million unique visitors a month according to Internet research company Comscore. The purchase hasn't been finalized, but it appears the deal is imminent. Continue reading Going Local: Why Google Wants to Buy Yelp Going Local: Why Google Wants to Buy Yelp originally appeared on DailyFinance on Fri, 18 Dec 2009 11:10:00. Filed Under: Company News, Technology, Google , Microsoft, Yahoo Permalink | Tweet this! | Comments The Doctor Is In: Why Support for Heath Reform Is Crumbling December 18, 2009 at 11:00 am Support for President Obama's health care reform plan has hit an all-time low. Only 32% of Americans say the president's health reform proposal is a good idea, compared with 47% who now say it's a bad idea, according to a Wall Street Journal/NBC News poll released on Dec. 16. In addition, 44% of those surveyed say they prefer status quo over reform. As I watch my own patients struggle on a daily basis, whether it's fighting with insurers for approval for care or trying to pay bills for services rendered, I find myself wondering, "Where have things gone wrong?" Continue reading The Doctor Is In: Why Support for Heath Reform Is Crumbling The Doctor Is In: Why Support for Heath Reform Is Crumbling originally appeared on DailyFinance on Fri, 18 Dec 2009 11:00:00. Filed Under: Columns, Healthcare Permalink | Tweet this! | Comments Boards of Directors Are Doing More to Earn Their Keep December 18, 2009 at 11:00 am Sitting on a corporate board of directors has always been great work if you can get it, especially if it's with a company that's generous with its board member compensation. But these days, directors are doing a little more to earn their keep. Continue reading Boards of Directors Are Doing More to Earn Their Keep Boards of Directors Are Doing More to Earn Their Keep originally appeared on DailyFinance on Fri, 18 Dec 2009 11:00:00. Filed Under: Energy, Economy, Goldman Sachs , Morgan Stanley , Apple, American International Group, INC., One Year Later Permalink | Tweet this! | Comments Ryanair Decides Not to Buy 200 Boeing Planes December 18, 2009 at 11:00 am Boeing (BA) is seeing plenty of turbulence these days. No sooner does it get some good news than it gets smacked with bad. The good news was that on Tuesday, Boeing managed to get a partially successful test flight of its 787 off the ground. The bad news Friday, according to Bloomberg News, is that Ireland's Ryanair (RYAAY) has ended discussions regarding an order for 200 Boeing 737s valued at $1.4 billion (representing 0.55% of Boeing's $254 billion backlog) for delivery between 2013 and 2016. Continue reading Ryanair Decides Not to Buy 200 Boeing Planes Ryanair Decides Not to Buy 200 Boeing Planes originally appeared on DailyFinance on Fri, 18 Dec 2009 11:00:00. Filed Under: Boeing Permalink | Tweet this! | Comments Will Time's Person of the Year Lose His Job as Fed Chair? December 18, 2009 at 10:15 am Time chose Fed Chair Ben Bernanke as its Person of the Year Wednesday. Sure, his expertise in the economics of the Great Depression gave him the intellectual confidence to flood the financial system with cash and cut interest rates to the bone. And, yes, the financial system appears to have survived what appeared in 2008 to be a global meltdown. Continue reading Will Time's Person of the Year Lose His Job as Fed Chair? Will Time's Person of the Year Lose His Job as Fed Chair? originally appeared on DailyFinance on Fri, 18 Dec 2009 10:15:00. Filed Under: Economy, People Permalink | Tweet this! | Comments Low Holiday Inventory Means IOUs Under the Tree December 18, 2009 at 9:45 am Shoppers looking to buy popular toys, clothes and electronics as gifts this holiday season may end up leaving stores with rain checks instead. It looks like retailers weren't kidding when they warned earlier this year that they were cutting back on inventory to avoid markdowns. Those sale laptops and cashmere sweaters will run out quickly this year and likely won't be restocked. Continue reading Low Holiday Inventory Means IOUs Under the Tree Low Holiday Inventory Means IOUs Under the Tree originally appeared on DailyFinance on Fri, 18 Dec 2009 09:45:00. Filed Under: Economy Permalink | Tweet this! | Comments Stocks in the News: Research in Motion, Oracle, Boeing, Take-Two December 18, 2009 at 9:15 am Research in Motion (RIMM) shares surged more than 10% in pre-market trading after the Canadian smartphone maker posted a big jump in profits Thursday and issued an even stronger outlook, topping analysts' estimates on both counts. Sturdy demand from holiday shoppers helped the BlackBerry maker fend off its competition. Continue reading Stocks in the News: Research in Motion, Oracle, Boeing, Take-Two Stocks in the News: Research in Motion, Oracle, Boeing, Take-Two originally appeared on DailyFinance on Fri, 18 Dec 2009 09:15:00. Filed Under: Company News, Investing Permalink | Tweet this! | Comments PetSmart Could Make You a Wise Investor December 18, 2009 at 8:50 am If you have a pet, chances are you know PetSmart (PETM) well enough. If not, you should at least be aware of its stock, which has outsmarted the market so far this year. Shares of the largest provider in North America of almost every product and services that pets need to live -- or luxuriate -- have skyrocketed 45% this year, to $27 from a 52-week low of $15 on Dec. 15, 2008. Continue reading PetSmart Could Make You a Wise Investor PetSmart Could Make You a Wise Investor originally appeared on DailyFinance on Fri, 18 Dec 2009 08:50:00. Filed Under: Company News, Investing, Earnings, Stock Picks, PetSmart Permalink | Tweet this! | Comments Icahn Buys Big Stake in Video-Game Maker Take-Two December 18, 2009 at 8:40 am Take-Two Interactive (TTWO), which publishes several popular video games such as Grand Theft Auto, is supposed to be a turnaround story, but management can't seem to find the formula to make it a success. On Thursday, Take-Two announced disappointing earnings, and on the same day, Carl Icahn took an 11% position in the company. Continue reading Icahn Buys Big Stake in Video-Game Maker Take-Two Icahn Buys Big Stake in Video-Game Maker Take-Two originally appeared on DailyFinance on Fri, 18 Dec 2009 08:40:00. Filed Under: Company News, Technology, People, Media, Electronic Arts Permalink | Tweet this! | Comments Stocks Set for a Higher Start December 18, 2009 at 7:55 am U.S. stocks are poised to start Friday's session on a high note, after several days of generally gloomy markets. Surprisingly strong corporate reports and outlooks from several companies late Thursday contributed to the changing atmosphere, as investors regained confidence in companies' profit prospects. More here: Before the Bell: Futures Point to Higher Start Continue reading Stocks Set for a Higher Start Stocks Set for a Higher Start originally appeared on DailyFinance on Fri, 18 Dec 2009 07:55:00. Filed Under: Investing Permalink | Tweet this! | Comments Daily Blogwatch: AMZN to Reach $170? Top Stocks of the Decade December 18, 2009 at 7:50 am Below are some of the best reads for investors from around the Web: This is very important to know if you are a day trader (to get the long-term perspective): How shellfish saved the human race. ___________ The 15 blown tech deals of the decade. What would've happened if ...? ___________ What's the unemployment situation ... for teens. ___________ Continue reading Daily Blogwatch: AMZN to Reach $170? Top Stocks of the Decade Daily Blogwatch: AMZN to Reach $170? Top Stocks of the Decade originally appeared on DailyFinance on Fri, 18 Dec 2009 07:50:00. Filed Under: Columns, Investing, Amazon.com Inc. Permalink | Tweet this! | Comments   This email was sent to gatdemit001@gmail.com.  Create Your Account Don't want to receive this feed any longer? Unsubscribe here.

12/19 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 Picks of the Week: Citi, Exxon, RIM, Visa December 18, 2009 at 4:12 pm Wall Street analysts give their buy, sell, or hold views on various stocks in the news this week Celent: High-Frequency Trading to Grow Even With New Rules December 18, 2009 at 2:37 pm The consultant says the high-speed trading favored by hedge funds and other firms will account for over half the U.S. market by next year, undeterred by planned regulation Stock Picks: Research In Motion, Continental December 18, 2009 at 11:18 am Plus Wall Street analyst opinions on Take-Two Interactive and Darden Restaurnats Stocks on the Move: Accenture, Nike, RIMM December 18, 2009 at 7:26 am Plus more stocks making headlines in Friday's market U.S. Stock-Index Futures Gain December 18, 2009 at 6:14 am Oracle and Research In Motion were among the names leading index futures higher ahead of Friday's open Pimco's Gross Boosts Cash to Most Since Lehman Failed December 17, 2009 at 10:45 pm Gross takes U.S.'s biggest bond fund to 7% cash in November; some see 2010 GDP growth spurring a Fed rate hike Investing: Six People Who Helped Shape a Tumultuous Decade December 17, 2009 at 8:06 pm Bloomberg BusinessWeek identifies the people who had the greatest impact on the investing arena in the past decade 2010 Investment Outlook December 17, 2009 at 5:00 pm Advice for next year: Go global   This email was sent to gatdemit001@gmail.com.  Create Your Account Don't want to receive this feed any longer? Unsubscribe here.