Economy & Markets
The important economic and stock market news that advisors need to know.
AIG Repurchase Bid Rejected by Fed
By Marlene Y. SatterAIG, which had attempted to repurchase the assets of Maiden Lane II, a package of securities it sold to the Federal Reserve in November 2008 when it needed to raise money, was rebuffed Thursday when the Fed said no to the deal.
March 31, 2011
Buffett Heir Sokol’s Resignation: What’s Next for Berkshire Hathaway?Heir-apparent’s departure in wake of Lubrizol acquisition catches Buffett by surprise and causes drop in Berkshire shares.
March 30, 2011
House GOP, Democrats Spar Over Cost of Dodd-FrankRepublican and Democratic members of the House Financial Services Subcommittee on Oversight and Investigations sparred Wednesday over the costs of implementing the Dodd-Frank Act.
March 30, 2011
Pessimistic Millionaires Drive Down Confidence Index: SpectremThe Millionaire Investor Confidence Index dropped 9 points in March to a level of 8, falling back to neutral territory, Spectrem Group reported.
March 30, 2011
Advisor Confidence Slips Further, Echoing Consumer UncertaintyThe drop marks the second month in a row that Rydex|SGI Advisor Confidence Index fell on the day after consumer confidence report showed a decline.
March 30, 2011
Japan Crisis and Financial Market Implications: Rogerscasey ReportExpect continuing near-term uncertainty leading to increased volatility for both Japan and the globein the aftermath of the 9.0 earthquake, subsequent tsunami and nuclear crisis that that have wreaked havoc in that country, a paper released Tuesday by Rogerscasey says.
March 30, 2011
Greek Woes Grow With New Downgrade; Ireland Expected to FollowTuesday was a day of discouraging news for Greece, which, along with Portugal, was hit by a Standard & Poor’s downgrade.
March 30, 2011
British Parliament Calls for Investigation of AuditorsOn Wednesday, a parliamentary report from Britain called for an investigation by the nation’s competition authorities to learn why the “Big Four” auditing firms did not warn supervisors regarding banks before the financial crisis hit.