Dandelion Salad By Mike Whitney 09/15/08 “ICH” Bank of America is buying Merrill Lynch for $45 billion, ... The news of Wall Street’s Sunday night massacre has already send foreign stock markets into a deep ... it like this: “All of the independent broker dealers are going to disappear. In March it was Bear Stearns [more...]
Date: 2008-09-15 18:53:57
Blog posts
(27) |
Videos
(1)
The Monetary Base Finally Moves
The Federal Reserve has for a long time eschewed increasing the money supply directly, ... credit $80 billion for Primary dealer and other broker-dealer credit $70 billion for Asset-backed [more...]
Date: 2008-09-30 21:05:16
Energy/Credit/Currency Crisis Open Thread
In what feels like the middle of a multi-round heavyweight bout, the world financial markets continue to be buffeted tonight, ... energy and commodities prices and considerably less confidence in the overall system than in weeks ... banks. And since this liquidity goes only to banks and major broker-dealers, the rest of the shadow [more...]
Date: 2008-10-06 13:50:22
Lending Club is Back; Prosper Goes Quiet
Earlier this week Lending Club announced the end of their quiet period when their bid to host a secondary market for loans was approved by the SEC ... ., a registered broker dealer, Lending Club becomes the first social lending network where you have the option of a Trading Platform to put your notes up for sale in the event you need liquidity [more...]
Date: 2008-10-16 11:00:38
Gold, Silver and the Great UnwindOne person accused me of "Yellow Journalism" over the first post, ... on naked shorting for shares of the broker dealers, Fannie Mae, and Freddie Mac. That is just a partial ... , some gold-market analysts/observers have said that the catalyst for the rally was the purchase, by foreign [more...]
Date: 2008-08-16 16:12:12
Icap eyes indie film distribution market
Icap, the world’s largest inter-dealer broker, has set its sights on Hollywood and the $12bn market in independent film distribution as it seeks to reduce its reliance on bond and forex trading. The group, founded by Michael Spencer, has been hit by slowing volumes in its key markets amid heavy deleveraging of balance sheets at banks and hedge [more...]
Date: 2008-12-08 05:36:26
SIPC: Lehman To Be Liquidated
How did this little gem slip by unnoticed? Tomorrow at 4PM, Lehman is to be liquidated ... of the Securities and Exchange Commission, the Federal Reserve, the Commodity Futures Trading Commission ... in connection with a proposed sale of the business of the broker-dealer to Barclays Capital Inc. A hearing [more...]
Date: 2008-09-19 05:00:00
PIMCO's Bill Gross: The Fed Will Keep Lehman Afloat
Bill Gross just appeared on CNBC to crush the rumor that Pimco was diminishing its exposure to Lehman Brothers either by reducing its trading ... is influenced by the Federal Reserve's "temporary" broker-dealer discount window. Gross said ... on a booming real estate market and attendant mortgage boom has raised serious questions about the future [more...]
Date: 2008-07-10 18:29:09
GFI Group (GFIG) Reports Loss in Murphy’s Law Quarter
Investors weren’t expecting much in the way of good news as inter-dealer broker GFI Group reported earnings after the bell Thursday ... just what the new average trading volumes will be for credit derivatives, forex, and equity derivatives ... revenues were up 30% YoY. If uncertainty in the markets continues to lead to higher hedging activity [more...]
Date: 2008-10-31 09:39:08
City Leaders (Try to?) Reassure NYers Over Economy
The faltering economy and the fall of Wall Street banks has turned city leaders into counselors trying to calm New Yorkers ... about Barclays buying Lehman Brothers' broker-dealer business, pointing out how he said NYC ... with the state pension fund--it's fully funded "oday, tomorrow and well into the future." Add [more...]
Date: 2008-09-17 18:24:21
Stealing from the elderly It doesn't get much worse than this. The Arkansas Securities Department issued a cease and desist order to R ... whether Stewart's broker-dealer agent and investment adviser license should be revoked. Hmm [more...]
Date: 2009-01-07 22:29:39
Financials Got You Down? CME Pitches Credit-Default Swaps the Safer Way
The market for credit-default swaps is huge–$55 trillion–but was largely unknown to most of the populace until the downfall of Bear Stearns and the ... Mercantile Exchange that handles the bulk of U.S. futures trading. CME is trying to capitalize on the chaos in the market by grabbing more trading from broker-dealers like Goldman Sachs Group, Morgan [more...]
Date: 2008-10-09 16:35:40
AIG rescue hopes, Morgan Stanley earnings, ease markets
AIG rescue hopes, Morgan Stanley earnings, ease markets 16 Sep NEW YORK/LONDON (Reuters) - Growing expectations of a U.S ... came a day early and handily beat expectations. Its shares jumped 8 percent in after-hours trading. Both companies reaffirmed their faith in the independent broker-dealer business model despite [more...]
Date: 2008-09-16 22:00:22
Why the Obama-Bernanke Meeting Really Matters
Yesterday, Senator Obama met Federal Reserve Chairman Ben Bernanke for a one-on-one meeting at the Federal Reserve Bank ... of the visit and what it might portend for the future. If you’re not aware, let me give you the scoop ... Facilities (or discount window) to broker dealers until January 30, 2009. Access to the TAF [more...]
Date: 2008-07-30 20:38:17
• The Bernie Madoff Ponzi Scheme: A Validation of our Blue Collar Philosophy plus Tony C. checks in on Cramer
______________________________________________________________________________________ Blue Collar Mission Statement 1- Become CEO of your own ... of two main branches: 1- The broker-dealer section which traded stocks for their own accounts. This part [more...]
Date: 2008-12-21 09:39:14
SEC Chair Calls For More Regulation
It is a bit late, but SEC chair Christopher Cox has discovered that our securities markets are under-regulated and announced this in an election day ... of broker-dealers under the Securities Exchange Act of 1934 and that of investment advisers under [more...]
Date: 2008-11-05 21:46:33
US Economy: Rudderless and Reeling From Direct Hits - A raid on private pensions? By Paul Craig Roberts
Dandelion Salad By Paul Craig Roberts 09/16/08 “ICH” We were promised a “New Economy” of high-tech tradable services to take the place of the ... offshore. All that’s left is finance, and it is crumbling before our eyes. Independent broker-dealers [more...]
Date: 2008-09-16 21:40:07
Housing recovery at least 1 year off, Insider Q&A told
Shopoff William Shopoff, CEO of the land-investment firm bearing his name, is a real estate man first and foremost ... we have added personnel in our broker dealer operation due to the launch of our public company Shopoff [more...]
Date: 2008-10-04 07:33:36
Pakistani stocks open down, rupee also lower
Pakistani shares opened lower in dull trade on Tuesday after the removal of a floor on its main index the previous day, ... they have big sell orders at their lower circuit breakers,” said Sajid Bhanji, a dealer at brokers Arif [more...]
Date: 2008-12-16 06:25:43
The SEC, Madoff and XBRL
You probably have never heard of XBRL. If you havent, and you are the least bit interested in how regulatory agencies can avoid future Madoff ... , to hedge funds, to mutual funds, to ETFs, brokers, dealers, market makers,to banks and each and every loan [more...]
Date: 2008-12-16 07:10:54
Nouriel Roubini Warns of Another Broker-Dealer Run
Perhaps it's merely the result of drafting in a bit more haste than usual, but the latest offering by Nouriel Roubini, " ... estimates them at $1 trillion and the hedge fund manager John Paulson (who made a fortune last year betting [more...]
Date: 2008-06-28 08:02:00
Hedge your real estate risk. For real this time!
The other day, I highlighted the announcement from Bob Shiller's MacroMarkets to list exchange traded funds on the housing market ... requirements, special trading accounts, most of the time you need a broker-dealer on the other side [more...]
Date: 2008-06-13 16:46:38
MetLife Registered Rep Settles Fraud Charges
The SEC settled administrative charges against Mark E. Salyer, a registered representative for MetLife Securities, Inc ... broker, dealer, or investment adviser. Salyer consented to the issuance of the Order without admitting [more...]
Date: 2009-01-12 21:00:27
Bernard Madoff — Hiding in plain sight under the cover of SEC regulation
When news broke of Bernard Madoff’s alleged $50 billion worldwide Ponzi scheme, ... , and had been under the SEC’s extensive regulatory framework for securities broker-dealers since he founded [more...]
Date: 2008-12-29 03:32:27
Forex Glossary
Forex Glossary December 3rd, 2008 Appreciation - A currency is said to “appreciate ” when it strengthens in price in response to market demand ... markets. Around - Dealer jargon used in quoting when the forward premium/discount is near parity ... . Broker - An individual or firm that acts as an intermedia [more...]
Date: 2008-12-03 18:01:19
Treasury Recap July 22 2008
Prices of Treasury coupon securities fell sharply today as supply fears and hawkish comments from a Federal Reserve official spooked the markets ... in commodities came at an inopportune time for taxpayers. The auction tailed 5 basis points. (Tail ... prevailed in the brokers market prior to the auction. A long tail indicates that neither the dealer [more...]
Date: 2008-07-22 19:56:00
Is Forex Trading Better Than Stocks
Stock ExchangesStocks are traded on stock exchanges. Most stocks are bought and sold through brokers who charge a commission or fee for this service ... Exchange, and the National Association of Securities Dealers Automated Quotation System (NASDAQ). Most stocks are listed only on 1 exchange.Long-Term Trading Vs. Day TradingStocks were traditionally [more...]
Date: 2009-01-05 02:41:00
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