Economy & Markets
The important economic and stock market news that advisors need to know.
JPMorgan’s Dimon Blasts Banking Rules, Krugman Blasts Dimon
By Gil WeinreichJPMorgan Chase CEO Jamie Dimon called Basel III capital rules blatantly anti-American and suggested the U.S. should consider withdrawing from the group. Times Columnist Paul Krugman then took a shot at Dimon.
September 12, 2011
BofA to Slash 30,000 Jobs, $5 Billion a Year in CostsBofA's restructuring comes six days after Sallie Krawcheck was let go as head of wealth management, but company says it will continue to hire FAs.
September 12, 2011
PIMCO’s Gross Enduring Worst Year Since ’95PIMCO Total Return Fund, the worlds largest mutual fund, is having its worst year relative to rivals in 16 years.
September 12, 2011
Greece Worries Set Markets TumblingWorries that Greece might default on its mountain of sovereign debt sent global markets steeply downward on Monday, with bank stocks in France leading the plunge.
September 12, 2011
German Rift Threatens Euro ZoneJuergen Stark's sudden departure from his post at the European Central Bank (ECB) over the issue of buying bonds from troubled euro zone countries has led to wider problems, both in the zone and at home in Germany.
September 10, 2011
Using REITs for Current Yields: Portfolio FixREITs offer a compelling blend of decent current yield and future price appreciation.
September 09, 2011
Fannie, Freddie Subprime Settlement Could Say Mea CulpaThe Securities and Exchange Commission may be close to a settlement with Fannie Mae and Freddie Mac over their descent into subprime housing loans and lack of disclosure surrounding them, but the path to resolution is not smooth.
September 09, 2011
Plan to Rescue German Banks Stokes Fears of CrisisNew German government plans to rescue its banks and insurers sent the clearest signal yet that a European banking crisis could be imminent.