Earnings, Goldman, Reform Bill, and Taxes: Editor's Choice for the Week of April 19, 2010

The biggest market-moving news this week will likely be continued fallout from the SEC’s securities fraud case against Goldman Sachs related to CDOs and Goldman’s lack of disclosure on the role of John Paulson; SEC Chairman Mary Schapiro, in an exclusive interview with IA’s Melanie Waddell, talked about the SEC’s priorities.

One of those priorities has to do with making sure the financial services reform bill remains strong; Senator Chris Dodd said in an April 19 press conference that he plans on “moving forward this week with a bill” in the Senate. On “Meet the Press” on April 18, Treasury Secretary Timothy Geithner said he was very confident that “ we’re going to have the votes for a strong package of financial reforms.” Another Administration official, the chair of the Council of Economic Advisers, Christine Romer argued in an April 17 speech that the current high rate of unemployment was due to a drop in demand, not a “separate, structural problem.”

This week’s earnings include Citigroup on April 19, TD Ameritrade, and Bank of New York/Mellon on April 20, and Morgan Stanley and Wells Fargo on April 21.