Markets Hub Goldman Greece Banks Fed nomination fight a new low in partisan politics 7 Unique EcoFriendly Company Transportation Alternatives 24 hours pictures Deals of the Day Jamie Dimon Losing Lieutenants Comment on Guest Commentary The first casualty climate change Florida Couple Gets Revenge On Bank Of America war Boston Private accuses First Republic having 'roadmap' alleged stolen documents suit HSBC's Mahendran Likes China Commodity Stocks UN report calls for regulation to curb speculators pushing up food prices PhillyDeals Will U.S. bust bank bad guys or grab cash and run You can't expect anyone investing $1bn be fully rational | Heather Stewart UK could leading with economic approach instead we follow Hutton US regulator 'almost ended Barclays' Protium deal' Credit Suisse dodge auctionrate payout Court Raided By Deputies Congressional Research Service Confirms Big Borrowed Cash For Next To Nothing Then Lent It Back Federal Government at Much Higher Rates chair pitches exports Charlotte Alpert Sees Global Economic Forces Behind Jobs Data

Bob O'Brien and Stephen Wisnefski discuss why stocks are moving lower. Plus, Goldman fights back again a Senate report, a new Greek debt plan gains support, U.S. companies race to catch up in Africa, a look at bank stocks and corporate profits. Nobal laureate Peter Diamond gives up fight for a seat on U.S. central bank board in face of sustained Republican opposition Sperm bikes, electric cars and biodiesels, oh my! Converting your company's transportation fleet to an environmentally friendly one can b… A selection of the best images from around the world All the finance news you need to feel smart this morning. What's really bad is that since Climategate the rest of the world is becoming more skeptical about the progressive political science. The world has become so divided it cannot even come close to an agreement. So now the American hating progressives are going to force their false climate religion on us whether we like it or not. The progressives can't get an agreement so a few elitist in a distant government capital are now going to tax and tell the USA what to do. Isn't it grand how the American hating progressives are selling out the USA. INTERVIEW-W.Bank to suggest CO2 levy on jet, shipping fuel http://af.reuters.com/article/energyOil ... 05?sp=true In fact, climate sensitivity to doubling of atmospheric carbon dioxide concentrations is fairly summarized as the whole shootin' match of the climate issue. Computer models on which policy types base their demands (and alarmists their prophesying) assume a climate sensitivity that is vastly greater than the les policy-relevant observations. You might know the latter as 'reality'. Bank of America had sent a foreclosure notice to a couple in a Naples, Fla, but the owners had paid cash for their home. They took the bank to court. When Bank of America failed to pay up, the couple's lawyer drove to the local branch with a moving truck and a court order. He said unless the bank paid up, he'd foreclose on it, and seize its assets, like furniture. Boston Private Bank & Trust Company now accuses First Republic Bank of working with one of Boston Private's former star bankers to target some of its best commercial lending clients. Boston Private said the larger competitor now has "a detailed road map of which employees and customers to target and when to target them." The bank also said it recently lost another key employee to First Republic. In an amended civil complaint in U.S. District Court in Boston, Boston Private named San Francisco-based First Republic (NYSE: FRC) as a defendant in a case originally filed against one of its former top... June 6 (Bloomberg) -- Arjuna Mahendran, Singapore-based head of investment strategy for Asia at HSBC Private Bank, talks about the outlook for global stocks. Mahendran also discusses the U.S. economy. He speaks with Susan Li on Bloomberg Television's "First Up." (Source: Bloomberg) Read full article >> • Investment in commodity funds has reached $270bn • Speculators blamed for putting staples out of reach of poor Government intervention may be needed to burst the huge bubble that has developed in the price of commodities such as food staples and oil, a UN report says . Prices have rocketed in response to dysfunctional commodities markets, according to the report, which also disputes the view of many senior economists and central bankers that commodity prices have jumped as a result of a surge in demand. "The changing role of commodity markets, which are turning into financial markets, has enormous repercussions for the economy," said one of the report's authors – Heiner Flassbeck, a director at the UN conference on trade and development (Unctad). "The possibility of allowing governments' direct intervention in the physical and financial markets needs to be considered," the study concluded. Investors are encouraged to behave like a herd, says the report, with few incentives to arbitrage or bet against the tide of rising prices. Without checks and balances in the system, investors create price bubbles that put many basic foodstuffs out of the reach of millions in the developing world. Oil may be as much ... When should the government file criminal charges against powerful corporations - and when is it enough to accept cash and a promise not to break the law again? David Tuckett's new book argues that contemporary economics fatally underestimates the importance of the emotions With the Greek debt crisis hurtling towards yet another nerve-shredding denoument, many City wheeler-dealers could do with a session on the analysts' couch – but a new book suggests that psychoanalysis can offer insight into what's happening in the minds of even the most "rational" investors. In _Minding the Markets_ Prof David Tuckett, from University College London, argues that contemporary economics, with its neat mathematical models and fully rational robot-like decision-makers, fatally under-estimates the importance of emotions. There is plenty of economic research – by George Akerlof and Robert Shiller, for example – on the psychology of market bubbles. But Tuckett's insight, based on in-depth interviews with more than 50 investors, each managing more than $1bn, is that stocks, shares and derivatives are a special kind of asset, and decisions about whether to buy and sell them are particularly subject to stories and emotions. For one thing, the value of financial assets is prone to extreme uncertainty: thousands of unpredictable events can affect the profitability of a company, for example, from the collapse of a key supplier to a sudden change in the cost ... A consensus in favour of stimulus has disappeared – and Britain is leading the way in the wrong direction Two years ago the world was agreed that the aftermath of the banking crisis required the most delicate handling. World leaders were alert to the example of the United States in the 1930s and Japan in the 1990s after its financial crash. In both cases a too-early return to the principles of good housekeeping and premature public belt-tightening caused a terrible wobble in the recovery. This time it would be different. Governments would spend and borrow to keep the recovery going, recognising their special responsibilities while both consumers and businesses were carrying enormous levels of private debt – and banks were crippled. They would spend to compensate. Today that consensus has vanished. The varying stimulus packages in 2009, along with a worldwide bank bailout that cost some $14 trillion, worked almost too well. Everybody believes recovery is established and that they can focus on restoring their national balance sheets to order. European governments, quailing before the markets' assault on Greece, Portugal and Ireland – with Spain and even Italy facing the tremors – are united in a belief ... US regulators would have shut down Barclays' controversial Protium deal over questionable accounting practices had the bank not moved first, regulatory filings show. Credit Suisse must pay hundreds of millions of dollars to a semiconductor manufacturer over failed auction-rate securities, though a U.S. appeals court on Thursday reduced an arbitrator's award against the bank by roughly $75 million. As I've noted for years, the government has been guaranteeing that the big banks make money at taxpayer expense by loaning money at very low interest rates, and then letting the banks loan the money back to the government at much higher interest rates. For example, as I pointed out in January: Bloomberg notes: "The [...] (By Rick Rothacker, rrothacker@charlotteobserver.com) Fred Hochberg tells people he's in the sleep business. As chairman of the U.S. Export-Import Bank, his job is to help business owners rest comfortably when they ship goods overseas. His agency provides loan guarantees and other services to ensure they get paid by their international customers. June 3 (Bloomberg) -- Dan Alpert, managing partner at Westwood Capital Management, David Semmens, U.S. economist at Standard Chartered Bank, and Michael Purves, chief market strategist and head of derivatives research at BGC Financial LP, talk about today's May U.S. jobs report and the outlook for the labor market. They speak with Pimm Fox on Bloomberg Television's "Taking Stock." Duke Lane, president of Lane Packing Co., and Fort Worth, Texas, Mayor Mike Moncrief also speak. (Source: Bloomberg) Read full article >>
Key Words: us bank

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