Does Congress Want Another Economic Meltdown? – Bloomberg 06-10-12

Predictions: Wall Street lawyers and lobbyists continue to mock re-regulation. Expect fewer substantive rules and limitations on risks than now. Nine bills presented in Congress this year are designed to weaken the already weak Dodd-Frank law, mostly by holding off real accountability until the public has lost interest.  Barney Frank has succumbed to pressure from Wall Street. Read the full article

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Making Banking Boring Is the Wrong Way to Make It Safer – Bloomberg 06-10-12

Salient to Investors: Banking by nature is and always has been, risky. Banks diversified to keep up with American corporations. A new Glass-Steagall isn’t the solution. The bulk of bank losses during the postwar financial crises came from bad loans, this time on residential real estate. Investment banking contributed. More bank capital is the solution. Read the full article

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Workers Lost Ground During Recession As Bosses Gained – Bloomberg 06-07-12

Salient to Investors: The worst recession in six decades is hurting workers while leaving bosses almost unscathed. Between 2007 and 2010, people in nonprofessional occupations without college degrees saw median earnings fall 4.6 percent versus a 1.9 percent rise for college-educated professionals or managers. BLS reports 8.1 percent of workers with a high school degree

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Obama Seeking Ally on Europe Finds Merkel a Tough Sell – Bloomberg 06-08-12

Salient to Investors: Obama cannot afford a European financial meltdown. In 2008, Merkel rejected Obama’s request to speak at Brandenburg Gate. Obama has courted Merkel since, but the European Centre for International Political Economy said Germany is tired sick of the complaining and lecturing from Obama and Geithner. American Academy said helping Obama is not a Merkel priority

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Trade Gap in U.S. Probably Shrank on Cheaper Crude Oil Imports – Bloomberg 06-07-12

Salient to Investors: Article lists Bloomberg’s survey of economist estimates of the U.S. trade gap. Predictions: Credit Suisse said trade is not going to be a big swing factor for U.S. economic growth because the world is slowing down. Read the full article at http://www.bloomberg.com/news/2012-06-08/trade-gap-in-u-s-probably-shrank-on-cheaper-crude-oil-imports.html

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