Posts Tagged ‘Elizabeth Warren’

Tuesday Topics – Market Manipulation, Oil Inventories and the Death of Democracy

SPY 5 MINUTEIs this a joke?

As we thought, yesterday's volume was very low – it was actually the 2nd lowest day of the year,  that didn't stop the Nikkei and the Hang Seng from following us up half a point but Shanghai was flat at 2,008, dropping 10 points from its pumped up open and I'm sorry but you are NUTS to be too bullish in this market when that index is in danger of failing 2,000.  

I don't mean not bullish at all – our LTP is still 100% bullish but it's hedged by the STP, which is mostly bearish.  Just – BE CAREFUL!!!

Did you catch that news item above? "Shinzo Abe turned to Nobel laureate Robert Shiller to try to

restore a vital ingredient of his economic revolution: optimism."  That's the World we're living in now – Central Bankers aren't even ashamed to admit that they manipulate the news and take actions aimed at making you THINK the economy is recovering.  

That's based on the old "truism" that, if people are optimistic, the economy will improve but it's FLAWED because consumers no longer have any discretionary income to spend and they don't have any savings and small businesses, who still employ 80% of the workers, don't have any money to spend either.  

They have shifted the bulk of the discretionary GDP to the top 0.01% who don't spend it at all but use it to consolidate their empires.  All these old economic rules don't apply to an oligarchy – every act of stimulus only serves to make the rich richer and push the rest of the country further into debt.  Sure, the rich are in debt too but a guy with $1Bn owes the same $164,000 per family as the guy with $100,000 does.  

Not only that, but when you tax the top 0.01% 15-20% but tax the bottom 99.99% 35%, the money just keeps funneling to
continue reading


Tags: , , , , , , , , ,




Report: Bailout Money Ended Up in Foreign Hands

Report: Bailout Money Ended Up in Foreign Hands

Courtesy of Jr. Deputy Accountant 

The Congressional Oversight Panel has found (!) some disturbing new information surrounding 2008′s most not excellent bailout programs, among them, details on where exactly AIG’s cash infusions went. Here’s a hint: it wasn’t back into the system.

WaPo:

Members of the Congressional Oversight Panel, in a report due out Thursday, note that America’s broad financial rescues had more impact internationally than the narrower bailout programs of other countries had on U.S. firms.

They cite as a case study the bailout of insurance giant American International Group. While the Treasury committed up to $70 billion to AIG through its Troubled Assets Relief Program, the report states, much of that money ended up in the coffers of foreign trading partners in France, Germany and other countries. The cash that the United States poured into AIG alone equaled twice what France spent on its total capital injection program, and half what Germany spent.

"The point we make forcefully in this report is that there were no data about where this money was going, no information about where this money was going," said panel chair Elizabeth Warren, a Harvard law professor. "Without that information, no one could make a deliberate policy choice" about whether to ask foreign governments to contribute to the financial rescues.

Isn’t that why Warren has a job? To figure that out?

And yet for all her pristine carrying on over who got what, it appears as though someone forgot to turn off the spigot. But now instead of the banks and the auto companies, the bailouts are being pumped out to homedebtors, college students, whoever the hell is stupid enough to have a stake in Fannie and Freddie and of course broke ass state and local governments who can’t pay their bills.

The outrage over the bailouts of late 2008 and most of 2009 is obvious but where is the oversight committee to say enough is e-f*&king-nough already and cut it off?!

Reports. Meh. 


Tags: , , , , , ,




Why The Bankers, The Fed, and Their Allies In Washington Are Afraid of Elizabeth Warren

Why The Bankers, The Fed, and Their Allies In Washington Are Afraid of Elizabeth Warren

Courtesy of JESSE’S CAFÉ AMÉRICAIN

“Fascist regimes almost always are governed by groups of friends and associates who appoint each other to government positions and use governmental power and authority to protect their friends from accountability. It is not uncommon in fascist regimes for national resources and even treasures to be appropriated or even outright stolen by government leaders."

Dr. Lawrence Britt

WASHINGTON - FEBRUARY 25: Congressional Oversight Panel chair Elizabeth Warren asks a question during a hearing on GMAC Financial Services and the Troubled Asset Relief Program on Capitol Hill February 25, 2010 in Washington, DC. The Panel heard from the U.S. Department of Treasury, GMAC Financial Services, and industry analysts about their perspectives on GMAC's current and future financial stability, the structure and staging of Treasury's investments in GMAC, the rationale behind that support, and GMAC's strategic initiatives and plans to repay the taxpayers' investment. (Photo by Ann Heisenfelt/Getty Images)

The Nation
The AIG Bailout Scandal
William Greider
August 6, 2010

The government’s $182 billion bailout of insurance giant AIG should be seen as the Rosetta Stone for understanding the financial crisis and its costly aftermath. The story of American International Group explains the larger catastrophe not because this was the biggest corporate bailout in history but because AIG’s collapse and subsequent rescue involved nearly all the critical elements, including delusion and deception. These financial dealings are monstrously complicated, but this account focuses on something mere mortals can understand—moral confusion in high places, and the failure of governing institutions to fulfill their obligations to the public.

Three governmental investigative bodies have now pored through the AIG wreckage and turned up disturbing facts—the House Committee on Oversight and Reform; the Financial Crisis Inquiry Commission, which will make its report at year’s end; and the Congressional Oversight Panel (COP), which issued its report on AIG in June.

The five-member COP, chaired by Harvard professor Elizabeth Warren, has produced the most devastating and comprehensive account so far. Unanimously adopted by its bipartisan members, it provides alarming insights that should be fodder for the larger debate many citizens long to hear—why Washington rushed to forgive the very interests that produced this mess, while innocent others were made to suffer the consequences. The Congressional panel’s critique helps explain why bankers and their Washington allies do not want Elizabeth Warren to chair the new Consumer Financial Protection Bureau.

The report concludes that the Federal Reserve Board’s intimate relations with the leading powers of Wall Street—the same banks that benefited most from the government’s massive bailout—influenced its strategic decisions on AIG. The panel accuses the Fed and the Treasury Department of brushing aside alternative approaches that would have saved tens of billions in public funds by making these same banks “share the pain.”

Bailing out AIG effectively meant rescuing Goldman Sachs, Morgan Stanley, Bank of America…
continue reading


Tags: , , , , ,




Tim Geithner Backtracks on Elizabeth Warren

Tim Geithner Backtracks on Elizabeth Warren

Courtesy of Jr. Deputy Accountant 

Less than a week ago, reports were that Tim Geithner opposed Elizabeth Warren to head financial reform’s new consumer protection agency. Now word is out that he’s all for it:

U.S. Treasury Secretary Timothy Geithner said on Wednesday that Elizabeth Warren has the credentials needed to head the new Bureau of Consumer Protection set up as part of a landmark financial reform overhaul.

In an interview on PBS’ "Charlie Rose Show," Geithner was asked whether Warren was Treasury’s top candidate for the consumer watchdog post but said it was President Barack Obama’s decision to make.

"Let me just say she is an incredibly capable, effective advocate for reform," Geithner said. Treasury has denied rumors of conflict between Geithner and Warren, a Harvard law professor who heads a congressional panel overseeing the 2008 bank bailout program and who has sharply criticized banks.

Then again that doesn’t sound like anything but a half-assed through-the-teeth endorsement to me. Either he is really that easily flip-flopped or completelyfull of sh*t. I think a nice little mix of both. 

*****

Change of Heart- Tom Petty


Tags: , , , ,




The Real Reason Geithner Is Afraid of Elizabeth Warren

The Real Reason Geithner Is Afraid of Elizabeth Warren

By John R. Talbott writing at Huffington Post

Elizabeth Warren, chairman of the Congressional Oversight Panel for TARP, testifies before the Senate Banking, Housing and Urban Affairs Committee hearing on how TARP (Troubled Asset Relief Program) funds have been used on Capitol Hill in Washington on February 5, 2009. (UPI Photo/Roger L. Wollenberg) Photo via Newscom Photo via Newscom

As reported on HuffPost last week, Treasury Secretary Timothy Geithner has expressed opposition to the possible nomination of Elizabeth Warren to head the Consumer Financial Protection Bureau, according to a source with knowledge of Geithner’s views.

One can assume that Geithner, being very close to the nation’s biggest banks, is concerned that Warren, if chosen, will exercise her new policing and enforcement powers to restrict those abusive practices at our commercial banks that have been harmful to consumers and depositors.

Certainly, Warren is not the commercial banking industry’s first pick to serve in this new role. And unlike other legislation in which an industry’s lobbying effort would naturally slow or cease once the legislation is passed, the new financial reform bill is continuing to attract enormous lobbying action from the banks. The reason is simple. The bill has been written to put a great deal of power as to how strongly it is implemented in the hands of its regulators, some of which remain to be chosen. The bank lobby will work incredibly hard to see that Warren, the person most responsible for initiating and fighting for the idea of a consumer financial protection group, is denied the opportunity to head it.

But this is not the only reason that Geithner is opposed to Warren’s nomination. I believe Geithner sees the appointment of Elizabeth Warren as a threat to the very scheme he has utilized to date to hide bank losses, thus keeping the banks solvent and out of bankruptcy court and their existing management teams employed and well-paid.

Full article here.>


Tags: , , , , , ,




ND20 Interview: Elizabeth Warren Says Big Banks Must Stop Blocking Reform

ND20 Interview: Elizabeth Warren Says Big Banks Must Stop Blocking Reform

Courtesy of Lynn Parramore at New Deal 2.0

elizabeth-warren-150Senate Dems are making the final push on financial reform this week, but will big banks really change the way they do business? Or will we still be pawns in a game rigged in their favor?  I caught up with Elizabeth Warren to talk about the need to reform Wall Street culture, the pernicious influence of bank lobbies, and the debt-fueled threat to America’s middle class. **Warren will discuss these issues and more at this weekend’s Hamptons Institute symposium, sponsored by Guild Hall in collaboration with the Roosevelt Institute (details below).

LP: Has the financial crisis changed the culture of Wall Street?

EW: I would have expected the financial crisis to sweep through Wall Street like a hundred-year flood — wiping out old business practices and changing the ecology profoundly. So far, the financial services industry has seemed to treat the crisis like a little rainfall — inconvenient, but no significant changes needed. The real question moving forward is how the industry will respond to Wall Street reform and growing public anger. Will it react to all the new cops on the beat just by hiring more lobbyists? Will it continue to spend $1.4 million a day to beat back anything that could mean more accountability and oversight? Or will the financial services industry finally begin to rethink its business models, lobbying approach, and attitude toward the public?

LP: Have unregulated financial products slowed our economic recovery?

Let me put it differently: meaningful rules in the consumer credit market can accelerate economic recovery, I really believe that. Rules would increase consumer confidence and, more importantly, weed out all the tricks and traps that sap families of billions of dollars annually. Today, the big banks churn out page after page of incomprehensible fine print to obscure the cost and risks of checking accounts, credit cards, mortgages and other financial products. The result is that consumers can’t make direct product comparisons, markets aren’t competitive, and costs are higher. If the playing field is leveled and the broken market fixed, a lot more money will stay in the pockets of millions of hard-working families. That’s real stimulus — money to families, without increasing our national debt.

LP: Why is marketplace safety so much harder for people to accept than safety in…
continue reading


Tags: , , , , , , , , , , , , ,




Government for Sale: How Lobbyists Shaped the Financial Reform Bill

Government for Sale: How Lobbyists Shaped the Financial Reform Bill

By Steven Brill, courtesy of TIME 

government for sale, time

The following is an abridged version of an article that appears in the July 12, 2010, print and iPad editions of TIME.

Two weeks ago, along a marble corridor in the Rayburn House Office Building in Washington, I watched about 40 well-dressed men (and two women) delivering huge value for their employers. Except that we, the taxpayers, weren’t employing them. The nation’s banks, mortgage lenders, stockbrokers, private-equity funds and derivatives traders were.

They were lobbyists — the best bargain in Washington. Capitol Tax Partners, for example, is one of 1,900 firms that house more than 11,000 lobbyists registered to operate in Washington. Last year, according to the Center for Responsive Politics (CRP), firms like Capitol Tax were paid a total of $3.49 billion for unraveling the mysteries of the tax code for a variety of businesses. According to Capitol Tax co-founder Lindsay Hooper, his firm provided "input and technical advice on various tax matters" to such clients as Morgan Stanley, 3M, Goldman Sachs, Chanel, Ford and the Private Equity Council, which is a trade group trying to head off a plan to increase taxes on what’s called carried interest, a form of income enjoyed by the heavy hitters who run venture-capital and other types of private-equity funds. (Time Warner, the parent company of TIME magazine, is also a client of Capitol Tax Partners.)

Since 2009, the Private Equity Council has paid Capitol Tax, which has eight partners, a $30,000-a-month retainer to keep its members’ taxes low. Counting fees paid to four other firms and the cost of its in-house lobbying staff, the council reported spending $4.2 million on lobbying from the beginning of 2009 through March of this year. Now let’s assume it spent an additional $600,000 since the beginning of April, for a total of $4.8 million. With other groups lobbying on the same issue, the overall spending to protect the favorable carried-interest tax treatment was maybe $15 million. Which seems like a lot — except that this is a debate over how some $100 billion will be taxed, or not, over the next 10 years.

And what did the money managers get for their $15 million investment? While lawmakers did manage to boost the taxes of hedge-fund managers and other folks who collect carried interest as part of their work,…
continue reading


Tags: , , , , , ,




Why Jamie Dimon is Afraid of Elizabeth Warren

Why Jamie Dimon is Afraid of Elizabeth Warren

By STEPHEN GANDEL at Curious Capitalist, courtesy of TIME

There are a lot of reasons to like the idea of a consumer financial protection agency. My colleagues Barbara Kiviat and Michael Grunwald have made the more substantive ones herehere and here. But I think I have stumbled across possibly the most telling data point yet on why the CFPA is likely a good idea: Jamie Dimon is scared of debating Elizabeth Warren on the topic. It’s not because Dimon is not passionate about the topic. Privately, Dimon and other JP Morgan exeuctives have been strongly making their case in Washington against starting a new agency, even one housed at the Fed, to monitor consumer protection in the banking business.

But when White House Chief of Staff Rahm Emanuel called a top J.P. Morgan executive to ask for the bank’s support in creating a new consumer-protection agency, the executive—former Commerce Secretary William Daley—said no, according to people familiar with the conversation. His boss believed that sufficient consumer safeguards were already on the books.

Nonetheless, I have put some phone calls in and Dimon is unwilling to take Warren on in person and debate the topic. Dimon is a smart guy. So the fact that he is scared to debate Warren on the topic means that he knows he can’t win. Here’s why:

First a recap. Elizabeth Warren is a Harvard law professor that also heads up the Congressional Oversight Panel, which has monitored the TARP program with hearings and studies. A few years ago, after studying a number of abusive lending practices regularly engaged in by the nation’s largest banks, she came up with the idea of launching a Consumer Financial Protection Agency. In Warren’s vision, it would be federally funded and separate from other regulators. It’s only job would be to assess whether the loans and other products sold by banks are fair and safe for consumers. Much like the FDA does for drugs. Obama loves the idea. And so it has been batted around as part of the reform effort, and is included, in a weaker form, in Dodd’s reform bill. Here’s what FDIC chief Sheila Bair had to say about Warren and her proposal in the TIME 100 this week:

Elizabeth


continue reading


Tags: , , , , ,




Hollywood for CFPA

Hollywood for CFPA

Courtesy of Eric at FALKENBLOG

A bunch of legendary comedians got together to make a sketch, where the punchline is: "establish a Consumer Financial Protection Agency". It’s kinda a funny, but mostly because of the Darrell Hammond’s imitation of Clinton making sexual innuendos, and Fred Armisen’s impersonation of Barack Obama. It seems director Ron Howard was trying to find something to ‘do good’, so he chatted with the earnest and overeducated Elizabeth Warren, and decided consumer financial regulation was the kind of smart idea that would obviously work. After all, who’s against consumer protection? 


I am! This is the same government that goaded banks to lower standard to lend more to historically damaged communities, and then when those borrowers defaulted, blamed such lending on the banks. Avoiding the poor is redlining, targeting the poor is predatory, which means, whatever goes wrong can be blamed on the banks. Government always wants to have its cake and eat it too: low taxes & high spending, high growth and union-type work rules, banks lending more today and raising their capital. 

The CFPA tries to do what most regulators try to do: improve efficiency, eliminate waste, consolidate regulations,simplify regulations, protect consumers, and protect jobs! It seems banks are greedy and basically uregulated, leading directly to the 2008 housing crisis. There are seven government bodies already regulating banks, highlighting how incredibly naive this proposal is. If there’s a magic bullet for improving efficiency, etc., share it with existing regulators…unless you think that all the regulators have been captured by some interest group, which if true just means we are bringing in one more interest group to advocate why they should get a better deal.

More importantly, if your concern is about the irrational poor people easily duped by huckster bankers, lower prices and penalties on the poor doesn’t help them, it enables them. Life has carrots and sticks, and one definition of a vice is that which generates bad outcomes in the long run. If you are constantly overdrafting your account, don’t have enough money to make a 20% down payment on a property, you need better financial discipline. Helping the poor from being trapped by debt should try to minimize they amount of debt they have, say by increasing rather than lowering prices on credit cards.…
continue reading


Tags: , , , , , , , , , ,




Elizabeth Warren on the Coming Commercial Real Estate Crisis; 3000 Community Banks at Risk

Elizabeth Warren on the Coming Commercial Real Estate Crisis; 3000 Community Banks at Risk

Courtesy of Mish 

Here are a couple of stories similar to thousands playing out across the country, and tens of thousands more to come. The second article gets to the heart of the upcoming commercial real estate bust.

The Minneapolis Star Tribune is reporting Brookdale Mall sold at auction for big markdown.

A sheriff’s foreclosure auction produced just one bid — from the mall’s mortgage-holders, who bid $12.5 million.

Photo By Glen Stubbe, Star Tribune

Brookdale Center went on the auction block at a sheriff’s foreclosure sale Friday, netting just one bid of $12.5 million from the shopping mall’s lenders.

The bid from Brookdale Mall HH LLC was well below the $51.8 million owed on a $54.2 million mortgage by the property’s owners, Brooks Mall Properties of Coral Gables, Fla.

Sears is its sole remaining anchor. In the last couple of years Macy’s, Barnes & Noble and Mervyn’s have all closed their stores. The mall also has lost other key tenants, such as Steve & Barry’s. Almost 60 percent of its space is vacant, according to recent figures from NorthMarq.

Commercial Real Estate Crisis Coming

The following story headline masquerades as a local (D.C.) problem but the real story buried in the article is a few select quotes from Elizabeth Warren.

Please consider In D.C., more evidence that commercial real estate headed for foreclosure crisis.

A mortgage crisis like the one that has devastated homeowners is enveloping the nation’s office and retail buildings, and few places are likely to be hit as hard as Washington.

The foreclosure wave is likely to swamp many smaller community banks across the country, and many well-known properties, including Washington’s Mayflower Hotel and the Boulevard at the Capital Centre in Largo, are at risk, industry analysts say.

"There’s been an enormous bubble in commercial real estate, and it has to come down," said Elizabeth Warren, chairman of the Congressional Oversight Panel, the watchdog created by Congress to monitor the financial bailout. "There will be significant bankruptcies among developers and significant failures among community banks."

Nearly 3,000 community banks — 40 percent of the banking system — have a high proportion of commercial real estate loans relative to their capital, said Warren, whose committee issued a report on commercial real estate last week. "Every


continue reading


Tags: , , , , ,




 
 
 

Zero Hedge

Sanders Surges As 1 Million Fake Hillary Followers Exposed

Courtesy of ZeroHedge. View original post here.

Submitted by Tyler Durden.

"This feels like 2008 all over again," as NPR reports the latest Iowa Poll showed Sanders just 7 points behind Hillary Clinton, who leads 37 to 30 percent among likely Democratic caucus-goers. Why 2008? As NPR notes, that's when a heavily favored Clinton stumbled and lost to Barack Obama, then a young senator whose middle name, Hussein, was the same as a dictator the U.S. had just overthrown and whose last name rhymed with America's Public Enemy No. 1. And while the socialist septuagenarian continues to surge, Hillary faces yet...



more from Tyler

All About Trends

Mid-Day Update

Reminder: David is available to chat with Members, comments are found below each post.

Click here for the full report.




To learn more, sign up for David's free newsletter and receive the free report from All About Trends - "How To Outperform 90% Of Wall Street With Just $500 A Week." Tell David PSW sent you. - Ilene...

more from David

Phil's Favorites

Nicole Foss Talks Energy Industry Issues and Oil Price Collapse

Courtesy of The Automatic Earth.


Unknown California State Automobile Association signage 1925
 

Nicole Foss recently participated in a live Skype ‘forum’ discussion at the Doomstead Diner site that also included, among others, Gail Tverberg, Steve Ludlum, Norman Pagett and Ugo Bardi. Apologies for the fact that I haven’t watched the videos yet and I’m getting the details as I go, so my info may be a bit sketchy. And so is the order the episodes come in here. I understand episode 3 is not even available yet.

I’ll run this in episodes. Today’s post contains episode 1. Yesterday I posted episode 2, ...



more from Ilene

Market News

News You Can Use From Phil's Stock World

 

Financial Markets and Economy

After all that, the stock market finished the week higher (Business Insider)

The stock market had a wild ride this week. And it ultimately ended up even better than it started. 

This week we saw a 1,000 point drop in the Dow in minutes, another drop of around 600 points in an hour of trading, and another day that saw one of the largest single-day point gains for the Dow in history.

Worried about your investments? Here’s the best advice (Market Watch)

The market is on a ...



more from Paul

Chart School

Gann Angles advise which stocks should be in your portfolio

Courtesy of Read the Ticker.

Gann Angles are great for stock selection, the momentum trader, and judging corrections.

Here is a winning stock, Gann Angle 4x1 is holding the trend of PriceLine. Amazing trend!

Other stocks in this 7 year bull market like AAPL and SBUX have had great Gann angle supporting trends.

Click for popup. Clear your browser cache if image is not showing.



NOTE: readtheticker.com does allow users to load objects and text on charts, however some annotations are by a free third party image tool named Paint.net

Investing Quote...

...“Stocks create their own field of action and power; power to attract and repel,which principle explains why certain stocks at times lead the market...



more from Chart School

Kimble Charting Solutions

Dangerous Place for a kiss of resistance, says Joe

Courtesy of Chris Kimble.

Anyone noticed its been a wild week? Has anything been proven with all the volatility the past 5-days?

What happens at (1) below, could tell us a good deal about what type of damage did or didn’t take place this week!

CLICK ON CHART TO ENLARGE

The large decline on Monday cause the S&P 500 to break support of this rising channel.

The mid-week rally pushed the S&P higher and as of this morning it is kissing the underside of old support as resistance now, near the 50% retracement level of the large decline over the past few weeks.

Why could th...



more from Kimble C.S.

Sabrient

Sector Detector: Finally, market capitulation gives bulls a real test of conviction, plus perhaps a buying opportunity

Reminder: Sabrient is available to chat with Members, comments are found below each post.

Courtesy of Sabrient Systems and Gradient Analytics

The dark veil around China is creating a little too much uncertainty for investors, with the usual fear mongers piling on and sending the vast buy-the-dip crowd running for the sidelines until the smoke clears. Furthermore, Sabrient’s fundamentals-based SectorCast rankings have been flashing near-term defensive signals. The end result is a long overdue capitulation event that has left no market segment unscathed in its mass carnage. The historically long technical consolidation finally came to the point of having to break one way or the other, and it decided to break hard to the downside, actually testing the lows from last ...



more from Sabrient

OpTrader

Swing trading portfolio - week of August 24th, 2015

Reminder: OpTrader is available to chat with Members, comments are found below each post.

 

This post is for all our live virtual trade ideas and daily comments. Please click on "comments" below to follow our live discussion. All of our current  trades are listed in the spreadsheet below, with entry price (1/2 in and All in), and exit prices (1/3 out, 2/3 out, and All out).

We also indicate our stop, which is most of the time the "5 day moving average". All trades, unless indicated, are front-month ATM options. 

Please feel free to participate in the discussion and ask any questions you might have about this virtual portfolio, by clicking on the "comments" link right below.

To learn more about the swing trading virtual portfolio (strategy, performance, FAQ, etc.), please click here ...



more from OpTrader

ValueWalk

Some Hedge Funds "Hedged" During Stock Market Sell Off, Others Not As Risk Focused

By Mark Melin. Originally published at ValueWalk.

With the VIX index jumping 120 percent on a weekly basis, the most in its history, and with the index measuring volatility or "fear" up near 47 percent on the day, one might think professional investors might be concerned. While the sell off did surprise some, certain hedge fund managers have started to dip their toes in the water to buy stocks they have on their accumulation list, while other algorithmic strategies are actually prospering in this volatile but generally consistently trending market.

Stock market sell off surprises some while others were prepared and are hedged prospering

While so...



more from ValueWalk

Digital Currencies

Bitcoin Battered After "Governance Coup"

Courtesy of ZeroHedge. View original post here.

Naysyers are warning that the recent plunge in Bitcoin prices - from almost $318 at its peak during the Greek crisis, to $221 yesterday - is due to growing power struggle over the future of the cryptocurrency that is dividing its lead developers. On Saturday, a rival version of the current software was released by two bitcoin big guns. As Reuters reports, Bitcoin XT would increase the block size to 8 megabytes enabling more transactions to be processed every second. Those who oppose Bitcoin XT say the bigger block size jeopardizes the vision of a decentralized payments system that bitcoin is built on with some believing ...



more from Bitcoin

Pharmboy

Baxter's Spinoff

Reminder: Pharmboy and Ilene are available to chat with Members, comments are found below each post.

Baxter Int. (BAX) is splitting off its BioSciences division into a new company called Baxalta. Shares of Baxalta will be given as a tax-free dividend, in the ratio of one to one, to BAX holders on record on June 17, 2015. That means, if you want to receive the Baxalta dividend, you need to buy the stock this week (on or before June 12).

The Baxalta Spinoff

By Ilene with Trevor of Lowenthal Capital Partners and Paul Price

In its recent filing with the SEC, Baxter provides:

“This information statement is being ...



more from Pharmboy

Mapping The Market

An update on oil proxies

Courtesy of Jean-Luc Saillard

Back in December, I wrote a post on my blog where I compared the performances of various ETFs related to the oil industry. I was looking for the best possible proxy to match the moves of oil prices if you didn't want to play with futures. At the time, I concluded that for medium term trades, USO and the leveraged ETFs UCO and SCO were the most promising. Longer term, broader ETFs like OIH and XLE might make better investment if oil prices do recover to more profitable prices since ETF linked to futures like USO, UCO and SCO do suffer from decay. It also seemed that DIG and DUG could be promising if OIH could recover as it should with the price of oil, but that they don't make a good proxy for the price of oil itself. 

Since...



more from M.T.M.

Promotions

Watch the Phil Davis Special on Money Talk on BNN TV!

Kim Parlee interviews Phil on Money Talk. Be sure to watch the replays if you missed the show live on Wednesday night (it was recorded on Monday). As usual, Phil provides an excellent program packed with macro analysis, important lessons and trading ideas. ~ Ilene

 

The replay is now available on BNN's website. For the three part series, click on the links below. 

Part 1 is here (discussing the macro outlook for the markets) Part 2 is here. (discussing our main trading strategies) Part 3 is here. (reviewing our pick of th...

more from Promotions

Help One Of Our Own PSW Members

"Hello PSW Members –

This is a non-trading topic, but I wanted to post it during trading hours so as many eyes can see it as possible.  Feel free to contact me directly at jennifersurovy@yahoo.com with any questions.

Last fall there was some discussion on the PSW board regarding setting up a YouCaring donation page for a PSW member, Shadowfax. Since then, we have been looking into ways to help get him additional medical services and to pay down his medical debts.  After following those leads, we are ready to move ahead with the YouCaring site. (Link is posted below.)  Any help you can give will be greatly appreciated; not only to help aid in his medical bill debt, but to also show what a great community this group is.

http://www.youcaring.com/medical-fundraiser/help-get-shadowfax-out-from-the-darkness-of-medical-bills-/126743

Thank you for you time!




FeedTheBull - Top Stock market and Finance Sites



About Phil:

Philip R. Davis is a founder Phil's Stock World, a stock and options trading site that teaches the art of options trading to newcomers and devises advanced strategies for expert traders...

Learn more About Phil >>


As Seen On:




About Ilene:

Ilene is editor and affiliate program coordinator for PSW. She manages the site market shadows, archives, more. Contact Ilene to learn about our affiliate and content sharing programs.

Market Shadows >>