Posts Tagged ‘economy’

Debt Ceiling Deadline Delayed: Good News and Bad

Who would have thought that Fannie Mae (FNMA) , once the recipient of $116 billion in government bailout funds, would one day be the reason the government could delay its debt ceiling deadline by almost four months? U.S. Treasury Secretary Jack Lew told CNBC Friday that a one-time payment of $59.4 billion from Fannie Mae pushes back the debt ceiling deadline effectively from May 19 “until at least Labor Day,” which falls on September 2

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SEC Charges Against Harrisburg ‘Good News’ for Muni Market: Matt Fabian

The Securities and Exchange Commission (SEC) has charged a municipality for allegedly making misleading financial statements outside of the usual securities filings. The SEC faulted Harrisburg, Pennsylvania , the state’s capital, for misleading statements in the city’s budget report and the mayor’s state-of-the-city address during the 2009-2011 period. At the time, Harrisburg was teetering on the brink of bankruptcy, and it remains in financial straits today, with a state-appointed receiver overseeing its finances.

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JP Morgan Shareholders Might Fire Jamie Dimon From One Of His Jobs

During the financial crisis, JP Morgan Chairman and CEO Jamie Dimon was the golden boy of Wall Street.

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Next 5 Months Are Critical For Budget Reform: Maya MacGuineas

Maya MacGuineas, president of the bipartisan Committee for a Responsible Federal Budget, a non-profit organization committed to analyzing and influencing fiscal policy, says the next five months are critical for budget reform. In an interview at the Milken Institute's 2013 Global Conference, MacGuineas argues that Washington needs to replace the sequester with a bigger debt deal – one that tackles the “real problem areas of the budget” such as health care, aging and an outdated tax code

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Rep. Eric Cantor Sees “Real Potential” for Immigration Reform But Obamacare Poses a Challenge

An estimated 11 million immigrants are living illegally in the U.S. That could change if Congress approves immigration reform, now making its way on the Hill. The Senate has a bill developed by a bipartisan group of eight including Republican John McCain of Arizona and Democrat Michael Bennett of Colorado that would put undocumented immigrants on a 13-year path to U.S

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Everything You Always Wanted to Know About P/E (But Were Afraid to Ask)

One of the most common numbers you hear if you listen to stock forecasts is the "P/E ratio"--the price of the stock or market relative to the company's earnings. Sometimes, the P/E ratio can be very useful for getting a sense of whether a stock or market is cheap or expensive. At other times, however, the number can be highly misleading

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The “Most Overpriced, Oversupplied, Over-owned Market in History”

The U.S. Treasury this week announced plans to retire $35 billion in notes , the first time the government has paid down debt since 2007. It’s a significant milestone for Treasury and $35 billion is a lot of money for mere mortals, but barely a drop in the $16.7 trillion bucket of our nation’s debt.

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CFTC Commissioner on #HackCrash: Beware of a Rise in Twitter Arbitrage

The Commodity Futures Trading Committee is currently holding a hearing on the market impact of the April 23 rd Twitter attack.

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Robert Shiller: Home Prices Will Remain Relatively Stagnant For Next 10 Years

More good news on the housing market.

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CFTC Holds Twitter #HackCrash Hearing Tomorrow

It was one week ago this Tuesday that a hacked AP account tweeted, “Breaking: Two Explosions in the White House and Barack Obama is injured” to its 1.9 million followers. Moments later, the @AP twitter handle released a statement saying they had been hacked and that President Obama was fine, but the markets had already reacted. The Dow Jones Industrial Average plummeted 150 points and lost $136 billion in value before rebounding.

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