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FINANCIAL-MARKETS

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Everyman's Financial Meltdown
Source: The New York Times

By RON CHERNOW Published: October 22, 2009

Cap and Trade Changing Everything--Dr. Daniel Fine explains
Source: New Mexico Center for Energy Policy

Cap and trade legislation may be one of the biggest issues facing the oil and gas industry according to Dr. Daniel Fine, Associate of Policy, Strategy and Development at New Mexico Tech.

Energy Center Hosts Interactive Event With Leading Statesman
Source: New Mexico Tech Newswire

HOBBS, N.M. September 14, 2009 – New Mexico Tech's Center for Energy Policy will present a special presentation about the future of energy in the 21st century at 6:30 p.m. Tuesday, Oct. 13.

Ex-American Express Executive Sues Firm - Justice Department
Source: MiamiHerald.com

Sergio Masvidal says he just wants the Justice Department to give him back his name. Good luck with that, Sergio. American Express has hung many former employees out to dry.

Secrets of Alleged Oil Price Manipulation Exposed: Software
Source: CNBC Top News and Analysis

And Goldman Sachs... and so on and so forth.

Study Finds World's Stocks Are Controlled by Select Few; Anglo-American Entities Have Most Concentrated Financial Power
Source: Inside Science

A recent analysis of the 2007 financial markets of 48 countries has revealed that the world's finances are in the hands of just a few mutual funds, banks, and corporations.

America, Smitten with Financial Sector, Must Build True Wealth
Source: Common Dreams

The unemployment rate at the end of July was 9.4 percent and is expected to reach 10 percent by year's end. If part-time workers who want full-time jobs and those who have given up hope for a new job are included, the current jobless rate jumps to 16 percent.

World's Stocks Controlled by Select Few
Source: Live Science

A recent analysis of the 2007 financial markets of 48 countries has revealed that the world's finances are in the hands of just a few mutual funds, banks, and corporations.

5,000 USA Rich's Worst Monday - UBS Naming Names on Accounts
Source: CNBC Top News and Analysis

My Monday is pretty much planned out. Aside from a natural disaster or other altering event, assuredly my Monday will be much better than these 5,000 UBS offshore banking customers. Hopefully there's enough to cover back tax in each.

Amex cardholders' data stolen by employee months ago - just now notifying cardmembers
Source: Google

A lonely entry sits in a security database about the employee data theft at American Express in Phoenix. Phoenix houses most of the technology workers, contractors and is home to the primary data center.

Bail-Out Bonuses at Banks that Got the Most $ from U.s. - $1 Million a Head...Hundreds and Hundreds of Heads
Source: The New York Times

Thousands of top traders and bankers on Wall Street were awarded huge bonuses and pay packages last year, even as their employers were battered by the financial crisis. More Articles

Fine: Lehman Brother's, others drove oil barrel prices up Expert blames speculation for price volatility
Source: Congress.org

Expert blames speculation for price volatility, supports regulation The sudden crash in oil prices might be the smoking gun that shows speculation, rather than supply and demand, drove the huge run-up in oil futures last year.

Ameriprise Pays $17.3M To Settle SEC Charges
Source: Wall Street Journal

Isn't that nice when the former parent company owner leaves you in a lurch and you get stuck with the bad karma? That's exactly what has happened to Ameriprise.

Lawsuit against Former Subsidiary of American Express Bank International for Negligent Participation in Wake of Madoff Scandal
Source: Business Wire

There were inklings and hints of Madoff connections to American Express, whether it be former or present. The iceberg is melting, folks.

White House Details Financial Revamp Plan - WSJ.com
Source: Wall Street Journal

WASHINGTON -- President Barack Obama plans to release his administration's proposal to revamp supervision of financial markets on Wednesday.

U.S. Program to Help Banks Sell Bad Assets Is Halted
Source: The New York Times

...some analysts said the banks' reluctance to clean up their balance sheets meant they were merely postponing their day of reckoning. Indeed, some analysts said government policies had made it easier for banks to gloss over their bad loans. More Articles

Cheney: Bush Shouldn't Have Bailed Out GM
Source: NewsMax

Former Vice President Dick Cheney said the Bush administration should have let General Motors go bankrupt instead of bailing out the troubled auto giant, according to The Hill.

On Consumers and Credit

Not so long ago we experienced one of the biggest financial expansions in American history. Credit was not only easily and readily available; it was also cheap.

Reflections on Our Toxic Waste
Source: Back to basics and economic realities

In the same manner we handle toxic waste, we will handle toxic assets: we will bury them in a bad bank for 20 years and forget about them until better times arrive. This is the current world plan to jump-start our economies and credit markets; however, this plan has no future.

CEO Security Systems & Other Compensation Perks
Source: Consumer Reports dot org

I'd like to see an itemized list that falls into the "other expenses" category.

Harvard Law Professor: American Trust Shattered & CEOs in Denial
Source: Yahoo! Finance TechTicker

Warren acknowledges that some Wall Street CEOs keep acting as if the old rules apply.

Beware Crisis' Next Wave: Option ARM Foreclosures, More Debt Defaults
Source: Yahoo! Finance TechTicker

Credit Card Debt: With unemployment rising and home equity loans unavailable to most Americans, this is a "major problem that's going to take down major lenders."

Fuzzy Math & Accounting Tricks - Will Investors Be Fooled Yet Again?
Source: The Minneapolis Star Tribune

I concur that magical mathematics and twisting accounting rules like Geller bending metal are giving the smaller investors a little too much optimism.

Friedman, Retired Chair of Goldman & NY Fed Chair Resigns - Stock Purchase Oops!
Source: Yahoo! News

""Although I have been in compliance with the rules, my public service motivated continuation on the Reserve Bank Board is being mischaracterized as improper," he said in a letter of resignation to New York Fed President William Dudley.

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