Articles

The Madoff whistleblower who was ignored by the SEC is testifying on Capital Hill today and he is a straight shooter.

The argument in almost all sectors, especially the financial, has always been that if you do not give highly-valued employees bonuses these same people will go elsewhere and productivity will drop measurably. Today, bonuses are the accepted currency for highly paid and valued employees. No one challenges the assumptions underlying them. But, they have always been a joke, and they are much more so today.

If you were hit with an overdraft fee from Bank of America or any of its acquired banks between 2000 and 2007 you can make a little easy cash.

The Fed is beginning the first meeting of 2009 and of the Obama Administration with absolutely no flexibility in setting the Fed Funds rate or articulating Federal Reserve policy.

I have written many times about CVTX, a small biotech specializing in cardiac drugs. I have beleived that the stock was undervalued for some time. Now Astellas has shown they agree.

We will get a new headline about an exposed hedge fund every day for most of 2009.

TD Ameritrade is offering 25,000 United Mileage Plus miles for opening a brokerage account and funding it with $50,000.

We've been told to buy and hold stocks; that it is the path to a better future. But the common person does not stand a chance in the stock market when CEOs and their executive team are siphoning the profits. Recent news about ex-Merrill (and now ex Bank of America exec) CEO John Thain only reinforce the point.

Nouriel Roubini, the Dr. Doom of economists, who correctly predicted the credit crisis 18 months ago, is now saying that US banks are insolvent.

South Korea's largest investor, the South Korea National Pension Service said it's time to sell US treasuries as it believes the stimulus plan being developed by Obama and the Congress will lead to higher inflation and higher treasury yields. It's strange that as we struggle with deflation there is now talk of inflation concerns on the horizon.

The $300 billion bailout has been great for banks. Many have taken the TARP money and set is aside for toughter times or for future acquisitions. Many banks admit the public money has been a windfall that they feel no pressure to spend in any particular way. Most are also saying that they have not changed their behaviour because of the money. And what was the point?

Ken Lewis saved Angelo Mozilo from doing a perp walk, and gave Merrill a sweetheart deal of century, but also took down the largest financial institution in the country and now has put the entire US economic in still further jeopardy.

Hank Paulson made a series of bad choices when he changed the focus of the $700 billion TARP. Here is what I think happened.