Federal Reserve Sees No Need to Raise Interest Rates Soon
Until we see the government support of the economy withdrawn and the economy shows it can operate normally without that intervention, we will not see rates raising anytime soon. The Fed does not see inflation as a threat at this point as well.  The stock market is rising rapidly and with the amount of money and [...]

Fannie Mae Files $15.8 Billion in Claims in Lehman Brothers Bankruptcy
Now we are getting more information on the OTC derivative market and the different liabilities that the different players had with their counter-parties.  The more I am reading about these products (got a nice book on the subject that was written in 1993) and the more I read the more derivatives sound like insurance. You know [...]

New Program: Deed for Lease
First off, Representative Marcy Kaptur of Ohio mentioned this approach on Deed for Lease Program on Bill Moyer’s Journal when she interviewed with Simon Johnson of MIT.  This is an interesting program in the fact it would allow these owner occupied homes to continue to be filled and not have them foreclosed on and hit [...]

J.P. Morgan Securities Settles SEC Charges in Jefferson County Swap & Bond Case
Wall Street Journal, Washington - J.P. Morgan Securities Inc. and two of its former managing directors on Wednesday settled charges with the U.S. Securities and Exchange Commission for their roles in an unlawful payment scheme that enabled them to win business involving municipal-bond offerings and swap-agreement transactions with Jefferson County, Ala. J.P. Morgan Securities, a unit [...]

Bank of America’s Next CEO May Be Based in New York City
This is good news that they are looking to have their banking operations headed from NYC where many still see it as the financial center of the world.  Charlotte is suitable for handling overall operations but with trading and other financial product units becoming a larger portion of major banks revenue streams, it is very [...]