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The SEC’s Day in Court
Judge Jed S. Rakoff of the United States District Courts of the Southern District of New York struck a blow against the Securities and Exchange Commission and in support of the "public interest." The Securities and Exchange Commission had…
Chart of the day: the graph that shows why the central banks had to act
What is clear is that, with the U.S. dollar as the world’s major reserve currency, this move to lower the price on U.S. dollar liquidity swap arrangements is due to the world’s banks being short U.S. dollars. In the past few days, there…
Full Text: FRB Statement on Coordinated Central Bank Action on Currency Swaps
"The Bank of Canada, the Bank of England, the Bank of Japan, the European Central Bank, the Federal Reserve, and the Swiss National Bank are today announcing coordinated actions to enhance their capacity to provide liquidity support to the…
Official Action and Why Italy is Still at the Vortex
The EU Summit is the last opportunity of the year, and some observers say the last opportunity period,
for action that will begin seriously addressing the crisis. Tomorrow France's Sarkozy is expected to present his proposals tomorrow and…
Credit Writedowns Weekly Report, Vol 1 Issue 2: Solutions in Europe?
Below are the five ways now being discussed to tackle the euro zone sovereign debt crisis. I should say that overall, it is still unclear how far along European leaders are in defining a mutually agreeable outcome. Just this morning, I have…
News Links: Central Banks Take Joint Action
Financial news links for 30 November 2011
Managing the 99 Percent
The McCourtny Consulting Group: We are witnessing a simmering backlash in the face of the widening class distinction. It is wise to address the fundamental issues behind the backlash and consider approaches to deal with the problem,…
Choppy Market: Push Me Pull You
There have been several developments and they have imparted conflicting impulses into the market. The S&P downgrade of a number of large banks based on a new methodology that has been unfolding over the past couple of years comes at a…
France and Germany want the stability and growth pact hurdle to move to zero percent by 2016
According to Spanish website Cinco Dias, France and Germany want to move from a 3% deficit target to balanced budget by the year 2016. This aim points to a clear intention by the two countries to present a deal on fiscal integration and…
We’re American Airlines, doing what we do best
Here's the message from AA: "American Airlines filed for reorganization under Chapter 11. We took this action as part of our efforts to secure our long-term success in delivering the highest standards in air travel. We are committed to…