brokers

Glass-Steagall is dead. Rather like Soviet-era Communist leaders, it has been officially dead since 1999, and actually dead for much longer. Though there was no state funeral, the body was not embalmed or put on display and few people…

Bloomberg TV spoke to Goldman Sachs CEO Lloyd Blankfein today in a much discussed interview. Below is the video and partial transcript of that interview. I provide it without comment.

Bloomberg News allegedly has an e-mail demonstrating that Jon Corzine, MF Global's CEO, gave “direct instructions” to his underlings to transfer $200 million from one customer account to another account in order to meet an overdraft in one…

Here's another appearance by Bill Black spoke to RT's Lauren Lyster this past Wednesday about regulatory action in the MF Global case.

This daily commentary is a bronze-level post for Pro subscribers. Two articles worth reading on the 2004 change in net capital rules for investment banks are highlighted in today's links.

As Eurocrats dissemble, ratios that quantify U.S. financial system exposure to European insolvency are dated, even as they are published.

The downfall of MF Global has exposed yet another patch of the underbelly of the brokerage industry. Practices that are routine and legal – and hitherto largely unknown to most investors – can leave a company vulnerable when abused.

Here's what I'm listening to right now. Prince rocks the house in the video below. Eat your heart out, Jon Corzine.

Bill Black was on Capital Account talking to Lauren Lyster about MF Global. As usual, Capital Account delves deep into the real issues. Black never disappoints. Video below

Financial news links for 6 December 2011 featuring stories on MF Global, Facebook, class divides and retail sales.