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finance reform posts

Closing Bell: End of Day Cheers (GS, BRCD, DELL, V, GOOG)

Posted May 21st 2010 4:20PM by Jon Ogg (RSS feed)
Filed under: Google (GOOG), Goldman Sachs Group (GS), Visa Inc. (V)

With no economic data we focused at first on Europe, then on finance regulation, and then on bargain hunting. Very few earnings were out and very little corporate news was out. Today was about raw supply and demand mixed with a big short squeeze with the bulls having a winner.

Here were the unofficial closing bell levels:

Dow 10,193.39 +125.38 (1.25%)
S&P 500 1,087.69 +16.10 (1.50%)
Nasdaq 2,229.04 +25.03 (1.14%)

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Concerning system risk, connections, practices matter almost as much as size

Posted Dec 8th 2009 6:30PM by Joseph Lazzaro (RSS feed)
Filed under: Citigroup Inc. (C), Bank of America (BAC), Federal Reserve, Financial Crisis

Upcoming financial service reforms led by U.S. Rep. Barney Frank, D-Massachusetts and chairman of the House Financial Services Committee, are likely to address, among other concerns, one longstanding flaw in the U.S. financial system -- the 'too big to fail' condition.

Further, while it is appropriate to empower federal monetary officials, such as the U.S. Federal Reserve, and other federal regulators, to set limits on firms -- Citigroup, Inc. (C) or the Bank of America Corporation (BAC), for example -- which are so big or whose situation is so uncertain/unstable that their collapse would jeopardize the U.S. financial system, lawmakers should also write into the legislation the power to modify the business model of other firms: namely, those 'too interconnected to fail.'

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