The Independent

Government won't prosecute Goldman Sachs in probe – USATODAY.com

WOW! My previous futures broker (PFGBest)... thank God I am no longer with them... and those that think "Obamacare", run by our government, is going to turn out swell this is what you can expect... AS USUAL OUR REGULATORS ARE ASLEEP AT THE WHEEL! WHEN ARE AMERICANS GOING TO WAKE AND DEMAND CHANGE! OH, THAT'S RIGHT, YOU DID IN THE LAST PRESIDENTIAL ELECTION! THE CORRUPTION AND ROT RUN TO THE CORE NOW... LEHMAN BROS BERNIE MADOFF MF GLOBAL (Corzine) GOLDMAN SACHS (Lloyd Blankfien) JP MORGAN/CHASE (Jamie Dimon) PFGBest (Russell Wasendorf Sr.) WHERE IS THE JUSTICE DEPARTMENT ~ OH, THATS RIGHT ~ THEY TOO ARE ABOVE THE LAW NOW! SAD TO SAY... I SMELL A SYSTEMIC FAILURE AND THEN REVOLUTION IN OUR FUTURE... http://online.wsj.com/article/SB10001424052702304022004577518680956762826.html

“Has there been one financial leader to say this is really excessive? Wake up, gentlemen. Your response, I can only say, has been inadequate.” Paul Volcker, former Fed Chairman, Dec 8, 2009From The Times: ‘Wake up, gentlemen’, world’s top bankers warned by former Fed chairman Volcker “I wish someone would give me one shred of neutral evidence that financial innovation has led to economic growth — one shred of evidence,” said Mr Volcker ... He said that financial services in the United States had increased its share of value added from 2 per cent to 6.5 per cent, but he asked: “Is that a reflection of your financial innovation, or just a reflection of what you’re paid?” And from the Telegraph: Ex-Fed chief Paul Volcker's 'telling' words on derivatives industry    "You can innovate as much as you like, but do it within a structure that doesn't put the whole economy at risk." ... Mr Volcker argued that banks did have a vital role to play as holders of ...

The MBA reports a record 14.4 percent of mortgage loans were either one payment delinquent or in the foreclosure process in Q3 2009. This is an increase from 13.2% in Q2 2009.

by CalculatedRisk on 11/15/2009 09:20:00 AM From Bloomberg: China’s Liu Says U.S. Rates Cause Dollar Speculation “The continuous depreciation in the dollar, and the U.S. government’s indication, that in order to resume growth and maintain public confidence, it basically won’t raise interest rates for the coming 12 to 18 months, has led to massive dollar arbitrage speculation,” [Liu Mingkang, chairman of the China Banking Regulatory Commission said] ... Liu said this has “seriously affected global asset prices, fuelled speculation in stock and property markets, and created new, real and insurmountable risks to the recovery of the global economy, especially emerging-market economies.” President Obama will be in China today, and there will probably be some dicussion of China's exchange rate policy.