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Alan Greenspan Regrets Rien
In light of the recent barrage of criticism of him, and in light of the fact that Greenspan is 82, the former Fed chairman tries to defend himself against all the bad things people are saying about him.
Posted 04/08/08 in Daily Intel : White Men With Money
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New ‘Sex and the City’ Tour Will Stimulate Economy, Foreigners
The old 'Sex and the City' tour is not quite luxurious enough for travelers from abroad, so one travel company has come up with a tour that helps them take advantage of our weak dollar — and morals?
Posted 04/01/08 in Daily Intel : In Other News
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The Epic Battle for Bear Stearns’ Soul, and Other Day-Three Stories
It's been two days since Bear Stearns was sold in a fire sale to JPMorgan, and things are still messy and emotional. Whose fault was all of this, and if it's no one's fault, whom can we blame? What will happen next? And what will the impact be, not just on Wall Street, but on the little people? Several stories in the papers today shed light on these questions, even as they raised more questions. Below, a handy cheat sheet to keep you current:
Posted 03/19/08 in Daily Intel : White Men With Money
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Fed Lowers Interest Rate; Senate Teases Us by Holding Up the Stimulus Package
Well! Well! After their agressive three-quarter-point rate cut last week, the largest cut in 20 years, Fed chairman Ben Bernanke and his merry Board of Governors decided to cut the interest rate again today, by half a point, to 3 percent. "It is clear that the Fed has moved into a crisis-fighting posture," David Jones, chief economist at DMJ Advisors, told the AP. Great! Meanwhile, Bush was just on TV, and he was extremely put out that the Senate was cockblocking the $146 billion stimulus package, which sailed through the House yesterday. Seriously, he was PO'd at the Senate. ""Ah I understand that people have got different opinions, and we welcome different opinions in Washington," he said. "But they have a lot of 'em." Also, he really wants us to get that $300. "The sooner you get a check, the more likely it is that the stimulus package will break through and make a difference," he said. Right? Give us our cash, dudes. We've got some credit-card bills that have minimum payments coming due. Fed Statement Fed Cuts Interest Rates by 1/2 Point [AP] $146 Billion Stimulus Plan Passes House [WP]
Posted 01/30/08 in Daily Intel : It Just Happened
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Can Eli Manning Save the Stock Market?
It's another bum Monday on Wall Street, and market watchers are glumly certain that when the Fed meets on Wednesday, they'll bow to pressure and offer another rate cut, which could have some nasty long-term effects on the economy. So maybe they should hold off until after the Super Bowl? After all, according to Super Bowl Stock Theory by legendary Times sports writer Leonard Koppett, the market is likely to surge if the Giants beat the Patriots. Koppett's theory holds that if the January Super Bowl winner was in the NFL before it merged with the AFL in 1970, the market will rise. The Giants have been a part of the NFL since 1925; the Patriots joined the AFL in 1960. If the Patriots win, the theory holds, the market will drop. We have no idea why this is, but according to Business Week, the Super Bowl hypothesis has had a 75 percent success rate. Which means that if they win, the Giants will not only be saving New York's sports record; they might save America, and by extension, the global economy, from a terrible recession! But, you know, no pressure or anything. The Super Bowl Stock Indicator [Business Week] What the Fed is considering at its meeting. [Reuters] Related: Underdog [NYM]
Posted 01/28/08 in Daily Intel : The Sports Section
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