Linkfest: Credit rating agencies mixed ratings, profits; How Wall Street wins over DC; Japan’s new high
Categories: Linkfest
Today’s most shared: Credit rating agencies violated their own rules, mingled business and analysis, SEC says… Bart Chilton on how Wall Street steamrolls attempts to regulate it… Japan hits new high… China pre-announces GDP growth (the ‘Department Of Made-up Numbers’ doesn’t need to wait for yearend or actual data for its estimates)… Snowden revelations chill international sales of US communication equipment, cloud services… Rates, bank regs may chill housing revival… Tracking Target hackers… Late Web retail orders swamp UPS, Amazon compensates customers… Death of a financier… Economists’ take on Christmas: The greatest gift, from an economic theory standpoint, is cash.
Raters Fail to Follow Criteria, Keep Adequate Records, SEC Says
Bloomberg
Credit raters failed to follow their own criteria, allowed research analysts to discuss fees with issuers and kept incomplete records, according to a report from the U.S. Securities and Exchange Commission.
shared by @AmyResnick, @BarbarianCap, @victorricciardi, @Kiffmeister
Bloomberg
Credit raters failed to follow their own criteria, allowed research analysts to discuss fees with issuers and kept incomplete records, according to a report from the U.S. Securities and Exchange Commission.
shared by @AmyResnick, @BarbarianCap, @victorricciardi, @Kiffmeister
Angry Bart Takes His Parting Shot
Bloomberg
“The lesson for me is: The financial sector is so powerful that they will roll things back over time.”
shared by @LaurenLaCapra, @BarbarianCap, @AlephBlog, @JohnLothian, @nasiripour, @ThemisSal
Bloomberg
“The lesson for me is: The financial sector is so powerful that they will roll things back over time.”
shared by @LaurenLaCapra, @BarbarianCap, @AlephBlog, @JohnLothian, @nasiripour, @ThemisSal
Banks’ Suit Tests Limits of Resisting Volcker Rule
New York Times
Banks are testing the legal climate by challenging an obscure provision of the Volcker Rule that affects mostly small banks, for relatively small amounts of money.
shared by @IvanTheK, @MattGoldstein26
New York Times
Banks are testing the legal climate by challenging an obscure provision of the Volcker Rule that affects mostly small banks, for relatively small amounts of money.
shared by @IvanTheK, @MattGoldstein26
Nikkei 16,000!
Marketplace
Japan’s Nikkei stock index closed about 16,000 for the first time since 2007.
shared by @AmyResnick, @ReformedBroker
Marketplace
Japan’s Nikkei stock index closed about 16,000 for the first time since 2007.
shared by @AmyResnick, @ReformedBroker
Japan’s stock rally might not be finished
Wall Street Journal
Nikkei to finish above the psychological barrier of 16000 for the first time in six years Wednesday, but many money managers are holding on for even loftier heights.
shared by @ritholtz, @saraeisenFX, Crossing Wall Street, @Kelly_Evans
Wall Street Journal
Nikkei to finish above the psychological barrier of 16000 for the first time in six years Wednesday, but many money managers are holding on for even loftier heights.
shared by @ritholtz, @saraeisenFX, Crossing Wall Street, @Kelly_Evans
China’s economy likely grew 7.6% in 2013
Wall Street Journal
China’s economy will post growth of 7.6% for all of 2013, a top planning official said, indicating that the world’s second-largest economy will exceed Beijing’s 7.5% target but that it also lost momentum in the final months of the year.
shared by Business Insider, Crossing Wall Street
Wall Street Journal
China’s economy will post growth of 7.6% for all of 2013, a top planning official said, indicating that the world’s second-largest economy will exceed Beijing’s 7.5% target but that it also lost momentum in the final months of the year.
shared by Business Insider, Crossing Wall Street
A New Twist in International Relations: The Corporate Keep-My-Data-Out-Of-The-U.S. Clause
Bloomberg
Tech companies such as Facebook, Google and Cisco Systems say the National Security Agency’s spying poses a threat to their international business and, in Cisco’s case, is already hurting it.
shared by @TomLasseter, Naked Capitalism, reddit/Economics
Bloomberg
Tech companies such as Facebook, Google and Cisco Systems say the National Security Agency’s spying poses a threat to their international business and, in Cisco’s case, is already hurting it.
shared by @TomLasseter, Naked Capitalism, reddit/Economics
Housing Recovery May Be Running Out of Steam
New York Times
There’s little to comfort the average buyer, Daniel Indiviglio of Reuters Breakingviews writes. Banks are likely to tighten lending standards once new rules come into place. And rising interest rates may drive down home loan volume.
shared by @NickTimiraos, @iSharesETFs
New York Times
There’s little to comfort the average buyer, Daniel Indiviglio of Reuters Breakingviews writes. Banks are likely to tighten lending standards once new rules come into place. And rising interest rates may drive down home loan volume.
shared by @NickTimiraos, @iSharesETFs
Who’s Selling Credit Cards from Target?
Krebs on Security
Journalist tracks black market in stolen credit card data to a man in Odessa.
shared by @newsycombinator, @Techmeme, @AntDeRosa
Krebs on Security
Journalist tracks black market in stolen credit card data to a man in Odessa.
shared by @newsycombinator, @Techmeme, @AntDeRosa
Late surge in web buying blindsides UPS, retailers, and some Christmas packages go undelivered
Wall Street Journal
A surge in online shopping this holiday season left stores breaking promises to deliver packages by Christmas, suggesting that retailers and shipping companies still haven’t fully figured out consumers’ buying patterns in the Internet era.
shared by @ReformedBroker, @Techmeme, @Dasan
Wall Street Journal
A surge in online shopping this holiday season left stores breaking promises to deliver packages by Christmas, suggesting that retailers and shipping companies still haven’t fully figured out consumers’ buying patterns in the Internet era.
shared by @ReformedBroker, @Techmeme, @Dasan
Robert Wilson, Hedge Fund Founder, Leaps to His Death at 87
Bloomberg
Robert W. Wilson, a retired New York hedge-fund founder who committed his life to giving the fortune he made from investing to charities, has died. He was 87.
shared by Here Is The City, @hedge_funds, @JohnLothian, Naked Capitalism, @SconsetCapital
Bloomberg
Robert W. Wilson, a retired New York hedge-fund founder who committed his life to giving the fortune he made from investing to charities, has died. He was 87.
shared by Here Is The City, @hedge_funds, @JohnLothian, Naked Capitalism, @SconsetCapital
The Greatest Gift of All (Economically Speaking)
Bloomberg
In January 1993, Joel Waldfogel asked 86 undergraduate students whether they liked their Christmas gifts. The students estimated that their gifts had cost $438.20 — but they said the most they would have been willing to pay for them was $313.40.
shared by reddit/Economics, Free Exchange, @AlephBlog
Bloomberg
In January 1993, Joel Waldfogel asked 86 undergraduate students whether they liked their Christmas gifts. The students estimated that their gifts had cost $438.20 — but they said the most they would have been willing to pay for them was $313.40.
shared by reddit/Economics, Free Exchange, @AlephBlog
The economics of Christmas, a holiday satire
CNBC
What would it look like if the biggest names in economic punditry decided to debate Christmas?
shared by @TheStalwart, @JustinWolfers, EconLog, Marginal Revolution
CNBC
What would it look like if the biggest names in economic punditry decided to debate Christmas?
shared by @TheStalwart, @JustinWolfers, EconLog, Marginal Revolution
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