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Credit Default Swaps

Mark Gongloff

3 Ways Dodd-Frank Could Have Saved JPMorgan $2 Billion

HuffingtonPost.com | Mark Gongloff | Posted 05.11.2012 | Business

Somebody throw some water on the irony meter because it's burning up: JPMorgan could have been spared the embarrassment and pain of its $2 billion tra...

Bank CEOs Try To Strong-Arm Fed

The Huffington Post | Mark Gongloff | Posted 04.27.2012 | Business

The banking industry is getting personal in its tireless fight against regulation. Jamie Dimon, chief executive of JPMorgan Chase and the industry'...

Derivates Torpedoed The U.S. And Apparently Europe, Too: Study

The Huffington Post | Mark Gongloff | Posted 04.27.2012 | Business

Complicated credit derivatives turned the financial crisis into a catastrophe back in 2008. Now comes a study claiming evidence that these financial i...

Yet Another Regulatory Retreat

Mark Gongloff | Posted 06.18.2012 | Business
Mark Gongloff

Corporate America, with help from the Obama administration, has struck yet another blow against the scary financial regulations it claims will hurt th...

When You Speculate With Financial Derivatives, You Hurt Society

Slate | Eric Posner and Glen Weyl | Posted 04.06.2012 | Business

On Monday, the U.S. Commodity Futures Trading Commission issued an order prohibiting the marketing of a new set of derivatives that would have enabled...

The Shadow Bailout: How Big Banks Bilk U.S. Towns and Taxpayers

Ellen Brown | Posted 05.26.2012 | Business
Ellen Brown

Banks and borrowers were supposed to be paying equal rates: the fat years would balance out the lean. But the Fed artificially manipulated the rates to the save the banks.

Greece and Credit Default Swaps: Bucking the ISDA Cartel

Janet Tavakoli | Posted 05.03.2012 | Business
Janet Tavakoli

The disputes over credit default swaps on Greece highlight the fact that most participants in the credit derivatives market are at the mercy of ISDA when it comes to interpretation of ISDA's language. The only solution to that is to exercise one's rights.

What America's Manufacturing Sector and Labor Policies Can Learn From Germany

Michael Shank | Posted 04.25.2012 | Business
Michael Shank

The German manufacturing strategy is based on making existing products better again and again, or as a Mercedes ad put it: "We are inventing the car. Since 1886."

How Greece Could Take Down Wall Street

Ellen Brown | Posted 04.22.2012 | Business
Ellen Brown

A definitive Greek default is thought by some analysts to be quite likely, and to be coming soon.

Again? Throw the Bums Out!

Michael Farr | Posted 01.21.2012 | Business
Michael Farr

What should we expect of firms like MF Global and Merrill Lynch and Morgan Stanley? It's really not that complicated. The ethical standards are pretty clear.

Abolish Credit Default Swaps

Robert Kuttner | Posted 12.31.2011 | Business
Robert Kuttner

It's time to abolish credit default swaps and similar exotic, impenetrable, essentially unregulated securities. They add nothing to economic efficiency, they line bankers' pockets, and they add massively to global financial risks. Swaps were only invented in the 1990s. Before swaps, investors were perfectly capable of evaluating risks -- and there was less systemic risk to evaluate. The entire banking system is overdue for a drastic simplification that puts banks back in their legitimate business of evaluating risks and then holding onto them, rather than passing the hot potato to someone else. This will require a revolutionary power shift, and it is one the Occupy Wall Street protests are already promoting.

"Standard" Credit Default Swaps on Greece Are a Sham and It's Not a Surprise

Janet Tavakoli | Posted 12.27.2011 | Business
Janet Tavakoli

Anyone that bought sovereign credit protection on Greece after accepting ISDA "standard" documentation without modifying the language will now find that they are on the wrong side of an "arbitrage."

Financial Fascism: Who Wins and Who Loses in the Economic War?

Vivian Norris | Posted 12.11.2011 | Business
Vivian Norris

So many people around the world support you. As your movement grows, it becomes the movement of ALL of us and the support is only growing. It is the humanity in the stories and the outrage which is beyond justified which is our strength.

Somethin's in the air: What Happened to Scruples?

Lydia Fisher | Posted 10.15.2011 | Business
Lydia Fisher

If financial warfare is here to stay, doesn't it behoove those who run banks and nations to manage well as any one is vulnerable? And now that we've created this global financial hydra, and global world at large, how's it being managed and is it even possible?

Europe: Lacking a Long-Term Solution

Gemma Godfrey | Posted 10.14.2011 | Business
Gemma Godfrey

Over the last few days we have seen a tremendous amount of volatility in the markets, epitomizing the lack of clarity with which many investors have struggled.

Are You Being Paid for the Risk in Money Markets?

Max Rudolph | Posted 10.05.2011 | Business
Max Rudolph

To ensure another AIG catastrophe doesn't threaten to topple the markets, and the market makers within them, reporting needs a much higher degree of transparency.

Goldman Sachs Wins Dismissal Of Lawsuit Alleging It Misled Investors

Posted 09.20.2011 | Business

NEW YORK (Jonathan Stempel) - Goldman Sachs Group Inc won the dismissal of a lawsuit accusing it of causing an investor to become insolvent by fra...

Pushing on a String?

Charles Kolb | Posted 08.31.2011 | Politics
Charles Kolb

The Obama administration is now out of ammunition: neither monetary nor fiscal policy options are available to stimulate economic growth, reduce unemployment, and encourage consumer spending.

Deutsche Fired Top Trader After Complaints Of 'Substantial' Anomalies

Posted 08.24.2011 | Business

NEW YORK (Matthew Goldstein) - In the fall of 2009, Deutsche Bank quietly fired one of its top derivative traders in London after a colleague in N...

The Contagion of Write-Offs in Europe

Robert Lenzner | Posted 08.19.2011 | Business
Robert Lenzner

There must be a contagion of write-offs, sooner or later. Take Greece for example; its 2 year notes are yielding over 29%, but the institutions holding that debt are still valuing the paper at 100 cents on the dollar. And that's just Greece, a small nation on the eastern border of Europe.

Two Areas Dominate Debate Over Financial Reform's Implementation

Posted 08.12.2011 | Business

WASHINGTON (Kevin Drawbaugh) - Global inconsistencies and industry resistance are clouding the outlook for world financial regulation reform in tw...

William Alden

Sorkin, Bove Flip On Senate's Goldman Sachs Report After Meeting With Firm

HuffingtonPost.com | William Alden | Posted 08.10.2011 | Business

NEW YORK -- Goldman Sachs is quietly pushing back against accusations that it may have broken the law, as employees of the firm have met with a pair o...

William Alden

'A Different World': U.S. Government Default A Possibility

HuffingtonPost.com | William Alden | Posted 07.27.2011 | Business

As lawmakers in Washington delay authorizing additional public debt, investors are treating the prospect of a U.S. government default -- while still h...

Frydman and Goldberg's Beyond Mechanical Markets

Robert Teitelman | Posted 07.25.2011 | Business
Robert Teitelman

How wrong were we? After several years of commentary on the causes of the financial crisis, we still struggle to plumb the full depths of the event. W...

The Emerging Bright Spot in Europe

Antonio Borges | Posted 07.18.2011 | Business
Antonio Borges

it will take a while before most crisis-hit countries will be able to reclaim the economic output that was lost as a result of the crisis. But things are definitely going in the right direction.