So Long Tim Geithner, Early Bonus Billions For Goldman, GOP Muni Bond Nightmare, GM's $45 Billion Tax Break, & Obama The $200 Million Mumbai Man
7 stories total including a battle between Carney and Ritholtz.
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US to spend $200 mn a day on Obama's Mumbai visit
About 3,000 people including Secret Service agents, US government officials and journalists would accompany the President. Several officials from the White House and US security agencies are already here for the past one week with helicopters, a ship and high-end security instruments.
"Except for personnel providing immediate security to the President, the US officials may not be allowed to carry weapons. The state police is competent to take care of the security measures and they would be piloting the Presidential convoy," the official said on condition of anonymity.
http://www.ndtv.com/article/india/us-to-spend-200-mn-a-day-on-obama-s-mumbai-visit-64106
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By John Carney
We're starting a Tim Geithner death watch.
That sounds a bit morbid. So let's be clear. We do not think President Barack Obama will murder Tim Geithner following the devastation of his party in the midterm elections. He'll just toss the guy out of the Treasury Department.
There will be heavy pressure from within the Democratic party for the Obama administration to make changes that will both publicly mark a change of direction for the administration and privately send a message to party insiders that the White House is accepting its share of the blame for the loss of the House of Representatives.
http://www.cnbc.com/id/39987552
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Sorry, Barry Ritholtz, SIPA Was Totally a Bailout of Wall Street - John Carney
http://www.cnbc.com/id/39989255
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GM Tax Break Could Be Worth $45 BILLION
http://www.reuters.com/article/idUSTRE6A161020101103
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Banks May Face $97 Billion Loss From Mortgage Mess - CNBC
Don't count on it. I've seen estimates as high as $500 billion, and Chris Whalen thinks the losses will be great enough to push Citigroup and Bank of America into a 2nd round of bailouts.
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Goldman Sachs Has Considered Moving Up Bonus Payouts
- "...would be one way to combat the uncertainty hanging over income tax rates in 2011 and beyond by allowing employees to take advantage of the current tax rates. But an early payout could also be perceived by critics of the firm as a way to enrich Goldman employees by gaming the system."
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'Build America' Bonds Up in the Air After GOP Victory -- Muni Bond Nightmare
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Nov 3, 2010 at 4:46 PM
Reader Comments (11)
The central bank becomes a Treasury profit center—for now.
http://online.wsj.com/article/SB10001424052702304741404575564733097905488.html?mod=WSJ_newsreel_opinion
A crucial case on tax credits for scholarships to religious schools.
http://online.wsj.com/article/SB10001424052702303362404575580572837153924.html?mod=WSJ_newsreel_opinion
So much for "America the liberal."
http://online.wsj.com/article/SB10001424052748703506904575592341108343042.html?mod=WSJ_newsreel_opinion
Voters repudiate the Pelosi Democrats and the Obama agenda.
http://online.wsj.com/article/SB10001424052748704462704575590871101994524.html?mod=WSJ_newsreel_opinion
Taking on statism's pride and joy, the BBC.
http://online.wsj.com/article/SB10001424052702303284604575582773700520824.html?mod=WSJ_newsreel_opinion
http://online.wsj.com/article/SB10001424052748704462704575591002924825976.html?mod=WSJ_newsreel_lifeStyle
Obama Suggests He May Change His Tone On Business
http://www.huffingtonpost.com/2010/11/03/ny-juror-ejected-from-cit_n_778139.html
Currency competition is the only way to fix the world economy, says Jeremy Warner.
UK Telegraph
The rest of the world is now openly questioning the merits of a global currency whose value is governed by America's perceived domestic needs, while the growth that once underpinned confidence in its ability to repay its debts has never looked more fragile.
Already, there are calls for alternatives. Unwilling to wait for one, the world's central banks are beginning to diversify their currency reserves. This, in turn, will eventually exert its own form of market discipline on the US, whose ability to soak the rest of the world by issuing ever more greenbacks will be correspondingly harmed.
These are seismic changes, of a type not seen for a generation or more. I hate to end with a cliché, but we do indeed live in interesting times.
http://www.telegraph.co.uk/finance/comment/jeremy-warner/8111918/The-age-of-the-dollar-is-drawing-to-a-close.html