Goldman Sachs' announcement that it netted $1.81 billion in its fiscal quarter ended March 27 was "amazing," as Bernstein analyst Brad Hintz put it in a research note this morning. (Fixed income trading was credited with providing the fuel to...
Once again, President Obama has got his facts wrong. In Strasbourg the other day, Obama said that the recession was caused by the "reckless speculation of bankers," particularly of American bankers, he implied. Not so. According to a convincing...
In today's Investor's Business Daily, there is a wonderful quotation from a bank CEO that, I think, neatly sums up the problem caused by an activist government. The quotation can be found buried in a story about how banker pay curbs (passed in the...
I guess it wins votes: Exploiting the outrage a populace who loves to hate failed Wall Street fat cats. But the vicious moralizing is revealing. What it says about politicians is actually very scary indeed. In case you had any doubts about the...
Bear market rally or the beginning of a new bull market? Who the heck knows, but there is good news out there. The S&P extended it's rally and is now up about 17 percent since hitting 12-year-lows last week. Today's market was fueled by the...
So sang the great country music pioneer Maybelle Carter of the Carter Family. As the 1936 song goes, “This dark hour of midnight [is] nearing/And tribulation time will come.” ...
Yesterday, the Wall Street Journal posted a story on its website, “Pension Bills to Surge Nationwide.” (Click here to read, if you are a subscriber.) The point of the article is no surprise: Stock market declines have wacked the value of state and...
