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STOCK MARKET WATCH -- Thursday, 11 September 2014
[font size=3]STOCK MARKET WATCH, Thursday, 11 September 2014[font color=black][/font]
SMW for 10 September 2014
AT THE CLOSING BELL ON 10 September 2014
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Dow Jones 17,068.71 +54.84 (0.32%)
S&P 500 1,995.69 +7.25 (0.36%)
Nasdaq 4,586.52 +34.24 (0.75%)
[font color=red]10 Year 2.54% +0.01 (0.40%)
[font color=black]30 Year 3.27% 0.00 (0.00%) [font color=black]
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[font size=2]Market Conditions During Trading Hours[/font]
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(click on link for latest updates)
http://tools.investing.com/market_quotes.php?
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[font size=2]Euro, Yen, Loonie, Silver and Gold[center]
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[font color=black][font size=2]Handy Links - Market Data and News:[/font][/font]
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Economic Calendar
Marketwatch Data
Bloomberg Economic News
Yahoo Finance
Google Finance
Bank Tracker
Credit Union Tracker
Daily Job Cuts
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[font color=black][font size=2]Handy Links - Economic Blogs:[/font][/font]
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The Big Picture
Financial Sense
Calculated Risk
Naked Capitalism
Credit Writedowns
Brad DeLong
Bonddad
Atrios
goldmansachs666
The Stand-Up Economist
The Automatic Earth
Wall Street on Parade
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[font color=black][font size=2]Handy Links - Essential Reading:[/font][/font]
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Matt Taibi: Secret and Lies of the Bailout
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[font color=black][font size=2]Handy Links - Government Issues:[/font][/font]
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LegitGov
Open Government
Earmark Database
USA spending.gov
[/center][font color=black][font size=2]Handy Links - Videos:[/font][/font]
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Charlie Rose talks with Roubini
Charlie Rose talks with Krugman
William Black: This Economic Disaster
Bill Moyers with Kevin Drum and David Corn
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[font color=red]Partial List of Financial Sector Officials Convicted since 1/20/09 [/font][font color=red]
2/2/12 David Higgs and Salmaan Siddiqui, Credit Suisse, plead guilty to conspiracy involving valuation of MBS
3/6/12 Allen Stanford, former Caribbean billionaire and general schmuck, convicted on 13 of 14 counts in $2.2B Ponzi scheme, faces 20+ years in prison
6/4/12 Matthew Kluger, lawyer, sentenced to 12 years in prison, along with co-conspirator stock trader Garrett Bauer (9 years) and co-conspirator Kenneth Robinson (not yet sentenced) for 17 year insider trading scheme.
6/14/12 Allen Stanford sentenced to 110 years without parole.
6/15/12 Rajat Gupta, former Goldman Sachs director, found guilty of insider trading. Could face a decade in prison when sentenced later this year.
6/22/12 Timothy S. Durham, 49, former CEO of Fair Financial Company, convicted of one count conspiracy to commit wire and securities fraud, 10 counts of wire fraud, and one count of securities fraud.
6/22/12 James F. Cochran, 56, former chairman of the board of Fair, convicted of one count of conspiracy to commit wire and securities fraud, one count of securities fraud, and six counts of wire fraud.
6/22/12 Rick D. Snow, 48, former CFO of Fair, convicted of one count of conspiracy to commit wire and securities fraud, one count of securities fraud, and three counts of wire fraud.
7/13/12 Russell Wassendorf Sr., CEO of collapsed brokerage firm Peregrine Financial Group Inc. arrested and charged with lying to regulators after admitting to authorities he embezzled "millions of dollars" and forged bank statements for "nearly twenty years."
8/22/12 Doug Whitman, Whitman Capital LLC hedge fund founder, convicted of insider trading following a trial in which he spent more than two days on the stand telling jurors he was innocent
10/26/12 UPDATE: Former Goldman Sachs director Rajat Gupta sentenced to two years in federal prison. He will, of course, appeal. . .
11/20/12 Hedge fund manager Matthew Martoma charged with insider trading at SAC Capital Advisors, and prosecutors are looking at Martoma's boss, Steven Cohen, for possible involvement.
02/14/13 Gilbert Lopez, former chief accounting officer of Stanford Financial Group, and former controller Mark Kuhrt sentenced to 20 yrs in prison for their roles in Allen Sanford's $7.2 billion Ponzi scheme.
03/29/13 Michael Sternberg, portfolio mgr at SAC Capital, arrested in NYC, charged with conspiracy and securities fraud. Pled not guilty and freed on $3m bail.
04/04/13 Matthew Marshall Taylor,fmr Goldman Sachs trader arrested, charged by CFTC w/defrauding his employer on $8BN futures bet "by intentionally concealing the true huge size, as well as the risk and potential profits or losses associated."
04/04/13 Matthew Taylor admits guilt, makes plea bargain. Sentencing set for 26 June; faces up to 20 years in prison but will likely only see 3-4 years. Says, "I am truly sorry."
04/11/13 Ex-KPMG LLP partner Scott London charged by federal prosecutors w/passing inside tips to a friend in exchange for cash, jewelry, and concert tickets; expected to plead guilty in May.
08/01/13 Fabrice Tourré convicted on six counts of security fraud, including "aiding and abetting" his former employer, Goldman Sachs
08/14/13 Javier Martin-Artajo and Julien Grout charged with wire fraud, falsifying records, and conspiracy in connection with JP Morgan's "London Whale" trade.
08/19/13 Phillip A. Falcone, manager of hedge fund Harbinger Capital Partners, agrees to admit to "wrongdoing" in market manipulation. Will banned from securities industry for 5 years and pay $18MM in disgorgement and fines.
09/16/13 Javier Martin-Artajo and Julien Grout officially indicted on charges associated with "London Whale" trade.
02/06/14 Matthew Martoma convicted of insider trading while at hedge fund SAC (Stephen A. Cohen) Capital Advisors. Expected sentence 7-10 years.
03/24/14 Annette Bongiorno, Bernard Madoff's secretary; Daniel Bonventre, director of operations for investments; JoAnn Crupi, an account manager; and Jerome O'Hara and George Perez, both computer programmers convicted of conspiracy to defraud clients, securities fraud, and falsifying the books and records.
05/19/14 Credit Suisse, which has an investment bank branch in NYC, agrees to plead guilty and pay appx. $2.6 billion penalties for helping wealthy Americans hide wealth and avoid taxes.
09/08/14 Matthew Martoma, convicted SAC trader, sentenced to 9 years in prison plus forfeiture of $9.3 million, including home and bank accounts
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[font size=3][font color=red]This thread contains opinions and observations. Individuals may post their experiences, inferences and opinions on this thread. However, it should not be construed as advice. It is unethical (and probably illegal) for financial recommendations to be given here.[/font][/font][/font color=red][font color=black]
34 replies
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= new reply since forum marked as read
I, too, couldn't believe it when he used Yemen and Somalia as prototypes..."we've been successful for years!" he said, or something very like it.
To me, PEACE and prosperity is success. Blowing people up is not. And nobody in his right mind would call present-day Yemen and Somalia successes for anyone. They are failed states in civil war. Just like the ISIS areas.
And I think we should stay out of other people's civil wars.
http://www.businessinsider.com/banks-planning-to-leave-scotland-if-it-goes-independent-2014-9
Scotland's largest banks will abandon the country for Britain if Scots vote "Yes" to independence on September 18th. The news adds to fears that independence could prove to be an economic disaster for Scotland.
Lloyds Banking Group and Royal Bank of Scotland (RBS) both confirmed their intention to re-domicile to England in the event of a break-up of the U.K., while Standard Life reiterated it was also looking at transferring its business south of the border. Elsewhere, The Lawyer reports that a leading Scottish law firm is already moving its money out of Scottish banks.
The moves throw the future one of Scotland's most success industries into doubt — and with it the Scottish government's post-independence budget plans. Financial services contributed £8.8 billion to the Scottish economy in 2010, or 1/8th of the country's total economic total activity, while one in seven Scots are employed either directly or indirectly by the sector.
In its statement, RBS cited "material uncertainties arising from the Scottish referendum vote which could have a bearing on the Bank’s credit ratings, and the fiscal, monetary, legal and regulatory landscape to which it is subject" as the reason for the move.
Scottish bank assets would be worth 12x independent Scotland's GDP
Read more: http://www.businessinsider.com/banks-planning-to-leave-scotland-if-it-goes-independent-2014-9#ixzz3Czwu5Hfp
Read more: http://www.businessinsider.com/banks-planning-to-leave-scotland-if-it-goes-independent-2014-9#ixzz3CzwhmOxb
Scotland's largest banks will abandon the country for Britain if Scots vote "Yes" to independence on September 18th. The news adds to fears that independence could prove to be an economic disaster for Scotland.
Lloyds Banking Group and Royal Bank of Scotland (RBS) both confirmed their intention to re-domicile to England in the event of a break-up of the U.K., while Standard Life reiterated it was also looking at transferring its business south of the border. Elsewhere, The Lawyer reports that a leading Scottish law firm is already moving its money out of Scottish banks.
The moves throw the future one of Scotland's most success industries into doubt — and with it the Scottish government's post-independence budget plans. Financial services contributed £8.8 billion to the Scottish economy in 2010, or 1/8th of the country's total economic total activity, while one in seven Scots are employed either directly or indirectly by the sector.
In its statement, RBS cited "material uncertainties arising from the Scottish referendum vote which could have a bearing on the Bank’s credit ratings, and the fiscal, monetary, legal and regulatory landscape to which it is subject" as the reason for the move.
Scottish bank assets would be worth 12x independent Scotland's GDP
Read more: http://www.businessinsider.com/banks-planning-to-leave-scotland-if-it-goes-independent-2014-9#ixzz3Czwu5Hfp
Read more: http://www.businessinsider.com/banks-planning-to-leave-scotland-if-it-goes-independent-2014-9#ixzz3CzwhmOxb
http://www.businessinsider.com/world-economy-year-1-2014-9
Have you ever wondered what the economy looked like in the year 1 AD?
Deutsche Bank released a note that included a chart of major global economies in the first year of the common era.
They're ranked by "economic power," which is measured in terms of economic output compared to the total world output.
Unsurprisingly, Augustus' Roman Empire ranked first. It controlled slightly over 25% of total world output. Rome's largest competitors, Parthia (whose modern territory is roughly modern day Iran) and Germany controlled only 2% and 1%, respectively, of the global economic output.
Deutsche Bank's note added that, "whilst economic output is not the only important variable in understanding the ability of a nation or empire to exert global power, it is probably the most important basic element as it determines the total pool of resources that can be devoted to war."
Read more: http://www.businessinsider.com/world-economy-year-1-2014-9#ixzz3D03gnOuF
Have you ever wondered what the economy looked like in the year 1 AD?
Deutsche Bank released a note that included a chart of major global economies in the first year of the common era.
They're ranked by "economic power," which is measured in terms of economic output compared to the total world output.
Unsurprisingly, Augustus' Roman Empire ranked first. It controlled slightly over 25% of total world output. Rome's largest competitors, Parthia (whose modern territory is roughly modern day Iran) and Germany controlled only 2% and 1%, respectively, of the global economic output.
Deutsche Bank's note added that, "whilst economic output is not the only important variable in understanding the ability of a nation or empire to exert global power, it is probably the most important basic element as it determines the total pool of resources that can be devoted to war."
Read more: http://www.businessinsider.com/world-economy-year-1-2014-9#ixzz3D03gnOuF
http://www.businessinsider.com/chart-rise-and-fall-of-modern-empires-2014-9
The U.S. economy is the largest economy in the world.
But it wasn't always the largest.
And it's unlikely to remain the largest economy for much longer.
The chart above comes to us via Deutsche Bank's Jim Reid.
"As Alexander, Rome and Britain fell from their positions of absolute global dominance, so too has the US begun to slip," Reid writes in a new note to clients. "America’s global economic dominance has been declining since 1998, well before the Global Financial Crisis. A large part of this decline has actually had little to do with the actions of the US but rather with the unraveling of a century’s long economic anomaly. China has begun to return to the position in the global economy it occupied for millennia before the industrial revolution."
One look at the chart and it's pretty clear that it may not be very long before we start saying the U.S. is No. 2.
Read more: http://www.businessinsider.com/chart-rise-and-fall-of-modern-empires-2014-9#ixzz3D06bOc6b
The U.S. economy is the largest economy in the world.
But it wasn't always the largest.
And it's unlikely to remain the largest economy for much longer.
The chart above comes to us via Deutsche Bank's Jim Reid.
"As Alexander, Rome and Britain fell from their positions of absolute global dominance, so too has the US begun to slip," Reid writes in a new note to clients. "America’s global economic dominance has been declining since 1998, well before the Global Financial Crisis. A large part of this decline has actually had little to do with the actions of the US but rather with the unraveling of a century’s long economic anomaly. China has begun to return to the position in the global economy it occupied for millennia before the industrial revolution."
One look at the chart and it's pretty clear that it may not be very long before we start saying the U.S. is No. 2.
Read more: http://www.businessinsider.com/chart-rise-and-fall-of-modern-empires-2014-9#ixzz3D06bOc6b
