Goldman Sachs raised its rating on the shares to "buy" on the news.
Bloomberg News reported that U.S. Rep. Barney Frank said in an interview that GE's ownership of GE Capital was "not part of the problem" that caused the financial crisis.
Many investors had feared that the Obama administration's planned overhaul of the system could compel Fairfield, Connecticut-based GE to spin off the finance unit. That business over the past year has become the company's Achilles heel, and GE management was working to downsize it in the face of falling profits
One of the many mysteries swirling around high-frequency trading is just how profitable the lightning-fast buying and selling of stocks, options and commodities really is. Most prefer to say simply nothing on the subject, leaving us in a very dark pool on the issue of high-frequency profits.
To be fair, Goldman Sachs (GS.N) recently came out and said "even using the broadest definition, high-frequency shares trading accounted for less than one percent of Goldman Sachs' total revenue in the first half of 2009."
But Goldman is talking only about high-frequency trading of stocks, not options and commodities. In options trading alone, Goldman's algorithmic-driven platform is estimated by a market source to account for 15 percent of the daily trading volume.
Judge Thomas Goethals said the “significant medical public health event” in the men’s jail is good cause to temporarily suspend constitutional guarantees to speedy trials, preliminary hearings and arraignments for some criminal case defendants.
An Internet radio host pleaded not guilty today to threatening to kill three federal appellate judges in Chicago and then sought his release from custody, saying he has been an informant for the FBI.
WASHINGTON
-Advocacy researchers concluded late last week that only 13 out of 25
States were recognized for rejecting federal Real ID Act. The flaw was
first noticed during a hearing where legislation was reconsidered for
replacement by the PASS Act, July 15th.
Misinformation
is currently billed as the primary cause of confusion. Local
Turnover in the American real-estate market may be bottoming, but prices are unlikely to do so for some time. History suggests they’ll keep drifting for another year or two before they find a floor.
The strategy ... is aimed at selling the most distressed hunks of failed banks to private-equity firms and other types of investors who may be more willing than traditional banks to take a flier on bad assets.
And speaking of the Fed's balance sheet (and not the public side but the $9 trillion in off-balance sheet voodoo), here is some good reading, especially with certain politicians hell bent to prevent HR1207 from occurring...
It appears to be that traders in the FX market (who by the way tend to be smarter than the average equity or bond trader) have deduced that the entire "improvement" in 2Q GDP came from government spending.
Why do we have Washington DC continuing to dissemble and BS while these firms implode one by one, taking down the FDIC's insurance fund - money that we should not lose as taxpayers if they would do their damn jobs!
The nanoparticles are made with a commercially available product known as "liposomes" -- small chemical spheres made of fatty molecules that can package drugs and other chemicals. Liposomes are a powerful emerging tool in medicine because they can be designed to carry many different drugs and manipulated to control how long they stay in the bloodstream
That's not an oversight. Telling people to give up burgers doesn't poll well. Ben Adler, an urban policy writer, explored that in a December 2008 article for the American Prospect. He called environmental groups and asked them for their policy on meat consumption. "The Sierra Club isn't opposed to eating meat," was the clipped reply from a Sierra Club spokesman. "
Tonight, Aug 3 - 7-9pm PDT. Iranians protesting the results of the recent election found an outlet
and a means of organizing with the Internet, and showed that new
digital media can help free speech and fight repression globally. But
what happens now the headlines and the Twitter trends have died down?
The House of Representatives this week passed a bill that would authorize federally-insured depository institutions and banks to lease real estate-owned homes for a limited period of time — up to five years.
If it seems weird to you that the ratio of domestic and overseas shrinking economies and their reduced consumption somehow turned into a positive GDP contributor, well, welcome to the wonderful world of government statistics.
The restaurant business is still contracting, and although not contracting as fast as late last year, the pace of contraction has picked up over the last two months.
Northcom has a plan “on the table” for “five regional military teams” to back up FEMA when the pandemic hits. Fox’s Brain Wilson reports the military will be involved in imposing “mass quarantines,” that is to say martial law.
Andrew Cuomo has once again turned the bright glare on Wall Street bonuses, giving everyone a fresh chance to jeer and offer their ideas about how compensation will be reformed.
But the obsession with bonuses is a big distraction whichever side you're on.
If there's something to be enraged about, it's not the bonuses, it's the profits in the banking sector.
Because shareholders of companies like JPMorgan (JPM) and Goldman Sachs (GS) are perfectly happy fattening up their big earners.
"Pensions will be a major issue, sooner more likely than later, because they're going to bankrupt many jurisdictions," said Bob Stern of the Center for Governmental Studies in Los Angeles.
Altinum plays a major role in Venice's history -- it was one of the richest Roman settlements but inhabitants fled before the advance of the armies of Attila the Hun. Then as water levels rose, the abandoned city sank into the lagoon...
To question the legitimacy of the governors is to question the legitimacy of the government — and to question the legitimacy of the government is to invite reconsideration of the legitimacy of government itself.
Whitney Tilson of T2 Partners calls the May numbers "the mother of all head fakes." He--and the two analysts below--think house prices will resume their decline in the fall
Just when you thought the bond bubble was being saved for another day…
The government managed to auction $39 billion worth of 5-year debt yesterday… barely. Wednesday’s debt sale drew a bid-to-cover ratio of 1.92, the lowest investor demand since September 2008. Low demand forced Uncle Sam to jack up interest rates at the last minute in two separate bond auctions this week — yesterday’s sale and Tuesday’s $42 billion auction of 2-year notes.
So what’s an indebted government to do? Manipulate the market, of course.
A young Guantanamo detainee appears likely to be sent home after a federal judge concluded he'd been held
illegally and ordered him released after almost seven years.
"After this horrible, long, tortured history, I hope the government
will succeed in getting him back home," U.S. District Judge Ellen Segal
Huvelle told Justice Department lawyers during a court hearing. "Enough has been imposed on this young man to date."
U.S. House of Representatives Speaker Nancy Pelosi ramped up her criticism of insurance companies, accusing them of unethical behavior and working to kill a plan to create a new government-run health plan.
“It’s almost immoral what they are doing,” Pelosi said to reporters, referring to insurance companies. “Of course they’ve been immoral all along in how they have treated the people that they insure,” she said, adding, “They are the villains. They have been part of the problem in a major way. They are doing everything in their power to stop a public option from happening.”
oh, but…she’ll still take their money
Pelosi Will Keep “Villains” Campaign Contributions
This video features Mike Wallace and covers the consequences of the 1976 Swine-Flu vaccine known as X53A. The vaccine was known to have neurological side-effects but was given to 46 million Americans starting Oct. 1st, 1976
U.S. Senator Byron Dorgan (D-ND) called on the
Treasury Department to axe a job opening seeking an applicant who can
“create cartoons on the spot” in order to introduce “humor in the
workplace.”
