The Dodd Bill is a Conestoga Wagon

A lot of people are finding comfort in the fact that big companies seem to be doing better.  Their balance sheets are accumulating cash, and they seem to be on good footing. There are several reasons for this.  First, the …

Euro Falling-UPDATED

The Euro set fresh lows against the dollar overnight.  At some point, the ECB and Eurozone governments will punish the speculators.  They think they can dictate to markets.  Merkel lost a lot of political footing in this crisis.  Axel Weber …

Immigration Story

Too often, fights about immigration in the US get ground into soundbites.  “We are all immigrants.”  “All Hispanics are illegal.”  “Fence the borders”  “On the Statue of Liberty, it says give us your tired, your poor, your hungry.” Well, I …

Nothing Going On This Weekend

Working on an ebook.  So, decided to post this video of the A-10 Thunderbolt.  The US  Air Force has a great slogan, “When it absolutely positively has to be blown up overnight.”!  A-10 is lethal.  Many are flying in the …

CME Says There Was A Big Seller-updated

The Chicago Mercantile Exchange said Waddell and Reed was a big seller of emini futures on May 6. FYI, if they held them, they aren’t even on the trade yet. CME spokesperson Allan Schoenberg said that there is no evidence …

Danger Will Robinson, Danger

Today’s early stock market action could be a prelude of things to come. Virtually every pro I know is thinking the same thing. The European bailout while noble just suspends the inevitable. The Euro experiment is over. How long before …

10 Steps to Wall Street Reform

The Dodd bill is one of the worst financial bills that has ever been presented to Congress. Cliff Asness in the Wall Street calls it the step to “create the largest and most powerful crony system in the world.”. You …

Listen to this Video Until the End-I Guess it is "Why We Fight."

This is extremely scary. I would expect more local homegrown terrorism from radicalized American citizens. We have had a murder spree at a military base, a couple of failed bomb attempts(only one by an naturalized American). Listen to the hate …

Dumbest Solution to the Flash Crash

Professor Larry Harris of the USC Marshall School of Business penned an article for the Wall Street Journal. It may be the dumbest article I have ever read in the Journal. That is saying something, since Thomas Frank writes there …

Hearing Before the Financial Services Committee 5-11-2010

Today they had a hearing on the Flash Crash from May 6. Very interesting the statements, and the positioning of all the players. First, the politicians got to make statements. Some clearly don’t understand what the heck is going on. …

The American Taxpayer and the European Bailout

There are politicians that are playing politics with the European bailout. What a surprise. The US is part of the International Monetary Fund(IMF). We happen to be the biggest backer of the fund. The EU and the ECB bailed out …

Circuit Breakers?

The big exchanges met the SEC. No one was taken out to the woodshed. Instead of actually changing the structure of the market, they decided to try and keep the old backroom games alive. Circuit breakers on individual stocks. This …

Liquidity, Who Has It, and Who Doesn't

One term everyone is throwing around these days is liquidity.  Different people define liquidity differently.  To a risk taking trader, it’s the amount of contracts bid for, and offered at, plus the width of the spread between the bid and …

CFO Talk

After seeing the “flash crash” of last week, you have to wonder what is going through the minds of US Chief Financial Officers(CFO). Suppose you were a CFO at a growing company that was beginning to analyze a major decision …

Tumultuous

Wow, what a week.  Never underestimate the power of a bear market.  The real rough ride is going to continue.  Hope you brought your dramamine. First, let’s clear up some misconceptions out there.  This was not caused by a fat …

From a Squawk Box next to the CME S+P Pit

This is how it used to be.  Crazy.  If the market was all open outcry, the break would have been much slower-and it may be doubtful that it would have happened at all.  Tip of the hat to zerohedge.com http://www.zerohedge.com/sites/default/files/Market%20Crash.mp3

Snicker Going Around the Floor

Hey, that’s what you get with government employees. They turn millions into billions….. Since Citi is owned by the government now!