In a recess appointment, President Obama thwarted the Republicans who have successfully blocked the appointment of Richard Cordray to direct the consumer protection bureau set up in part by Professor Elizabeth Warren.   The opposition to the appointment is less about Cordray’s qualifications and more about opposition to the bureau itself, according to reports.  There are legal [...]

“Newt Gingrich made between $1.6 million and $1.8 million in consulting fees from two contracts with mortgage company Freddie Mac, according to two people familiar with the arrangement.

The total amount is significantly larger than the $300,000 payment from Freddie Mac that Gingrich was asked about during a Republican presidential debate on Nov. 9 sponsored by [...]

“SAN LUIS OBISPO, Calif. (MarketWatch) — Worst-case scenario’s closing fast: Occupy Wall Street growing. But no political power or allies yet. Feared yes, attacked by GOP proxy tea party. Soon the Occupation will explode into a new American Revolution.

When? A string of European bank collapses is dead ahead. And like the Arab Spring, they will [...]

Is this 5 billion dollar investment just the financial bridge which Bank of America needs to tide it over and increase investor confidence until the good times return?  Or is this a typical top of the market over ripe investment based on an illusion?  “Bank of America, under fire from shareholders and analysts, is getting a $5-billion investment [...]

The authors of The Socionomics (www.socionomics.net ) have tied feelings of good will toward others and reduced fear generally to rising markets.  The same public mood causes both actions.  The opposite is now under way, again according to the folks at Socionomics.  That is, there is a negative fearful mood which will drive all markets vastly [...]

AIG, the massive insurance company is suing Bank of America for 10 billion dollars.   The stated basis of the suit is fraud committed by firms purchased by BoA.  For example, BoA is being sued for fraud allegedly committed by Countrywide when it was making its home loans during the housing bubble and alleged fraud by Merrill [...]

The European economic crisis started with smaller countries, like Greece, but is now expanding to include larger economic countries, like Italy.  Although endowed with different powers, like the federal reserve in the US, the European central banking organization is trying to act to stem the crisis. 

“The European Central Bank reportedly held a meeting Sunday evening to [...]

The world’s richest man lost 8 billion dollars in four days.   I have read that the key to “investing” during a bear market is this: quit trying to make money for now; focus on not losing money.  I suspect that this kind of story will be repeated many times during the next few years.

Here is a [...]

Social mood is turning further down.  There are news reports of events (e.g., riots, disturbances, protests) and political themes arise with greater frequency (”throw the bums out” mentality, whomever the so called bums may be) all of which is caused by a negative social mood.   According to the Elliottwave folks, this negative mood will eventually lead us all into a [...]

The recently created Consumer Financial Protection Bureau needs a formal head; Professor Elizabeth Warren is the clear choice.  However, she has ruffled many feathers on Wall Street in the wake of the financial melt down, publicly asking such questions as: “where did the TARP money actually go?”  Here is an article/video which speaks to her appointment [...]