Cesarnc's market talk, gossips, rumours & fun

Thanks.....it's always good to be recognized.

And next week should be............INTERESTING!!!!!!!


HOLLA

i P.M. you.

Yo.....did you guys hear about this yet???????? :surprised


Read an article in the AP news, but wanted more confirmation......


HOLLA

Check your box..............


HOLLA

No.

But I saw on Bloomberg TV that Congress is pissed off with the possibility of Bearn Stearns bailout with taxpayers money. They invited people related to this deal to testify this week, I guess it's on Thu.

Bernanke will also testify this coming week.

It's official now, Turtle. Next week WILL BE interesting

Famous Bank Robber Wiilie Sutton asked why he robbed banks said "that's where the money is". Nowadays he would say Wall Street is where the money is.

TOKYO (Reuters) 3/29/08 - U.S. investment bank Lehman Brothers was defrauded of some $353.1 million after it was caught in a scam in Japan, a source familiar with the situation told Reuters on Saturday, and trading house Marubeni said some of its staff were involved.

The never-ending story . :

Hey Cesarnc, here it is off of Bloomberg website........

Now the week will really be interesting........

HOLLA


Paulson to Propose New Financial Overseers, SEC-CFTC Merger

By Jesse Westbrook and John Brinsley
March 29 (Bloomberg) -- Treasury Secretary Henry Paulson is likely to call for the creation of new regulatory agencies with broad powers over lending, the securities industry and business conduct, according to the draft of a study he commissioned.
The report, which recommends more power for the Federal Reserve, also proposes combining the Office of Comptroller of the Currency -- which dates back to the Civil War -- and the Office of Thrift Supervision into a single banking overseer. In addition, the draft, which was circulated to government agencies this week and obtained by Bloomberg News, calls for the merging of the Securities and Exchange Commission and the Commodity Futures Trading Commission.
Such changes have been proposed in the past, only to be thwarted in Congress. ``We've had studies like this for the better part of 50 years, and nothing happens because there are a lot of vested interests in the status quo,'' said Bill Isaac, who was chairman of the Federal Deposit Insurance Corp. between 1981 and 1985 and now heads The Secura Group, a financial consulting firm in Vienna, Virginia.
At the same time, the credit crisis and market turmoil of the last half-year have fueled calls in Congress for an overhaul of the government's financial-regulatory apparatus by lawmakers who say the existing patchwork of regulators has proven inadequate to the task of monitoring a 21st-century financial system.
Overlapping Responsibilities
``With overlapping, multiple regulators supervising the same things, you've got three well-intentioned outfielders running after the same fly ball,'' said John Dearie, senior vice president of policy at the Financial Services Forum, a lobby group whose members include Wachovia Corp., Goldman Sachs Group Inc. and Lehman Brothers Holdings Inc.
Paulson, 62, a former chairman of Goldman who spent three decades on Wall Street, commissioned the study in June with the aim of increasing the competitiveness of American capital markets. The secretary, who has scheduled a speech on financial markets for March 31, said March 26 that the Fed ought to have greater sway over Wall Street firms now overseen by the SEC.
Treasury Department spokeswoman Brookly McLaughlin said the draft report ``is not current,'' but wouldn't comment on whether the final report will differ significantly in its recommendations. Paulson's speech begins at 10 a.m. in Washington.
New Authorities
The recommendations urge the formation of a ``Prudential Financial Regulator'' to oversee financial institutions that have an explicit government guarantee such as deposit insurance. The Treasury calls for a ``Business Conduct Regulator'' to monitor disclosures, business practices, chartering and licensing. It also suggests a ``Corporate Finance Regulator'' with ``responsibilities for general issues related to corporate oversight in public securities markets.''
The Securities Industry and Financial Markets Association, Wall Street's biggest lobbying group, praised Paulson's proposals. The plans would replace a regulatory framework that was ``born of Depression-era events and is not well-suited for today's environment where billions of dollars race across the globe with a click of a mouse,'' Sifma President Timothy Ryan said in a statement late yesterday.
The executive summary of Paulson's draft report calls for legislation that creates ``uniform minimum licensing qualification standards for state mortgage market participants.'' The authority to draft mortgage regulations would remain at the Fed.
President's Working Group
The report breaks down its proposals into short-, intermediate- and long-term recommendations. Under short-term suggestions, Treasury proposes turning the President's Working Group on Financial Markets, which has advised the president since 1987, into a government-chartered ``interagency body'' to coordinate financial regulatory policy.
The group's focus should be ``broadened to include the entire financial sector, rather than solely financial markets,'' the draft said. The President's Working Group is chaired by the Treasury Secretary and includes the heads of the Fed, the SEC and the CFTC. The report recommends expanding the body to include the heads of the OCC, the FDIC, and the OTS.
Hal Scott, a professor at Harvard Law School who heads the Committee on Capital Markets Regulation, a group of executives and academics whose efforts Paulson has endorsed, said it will be ``very hard'' to implement any of the recommendations.
``The political reality is that the merits will get lost in the argument,'' Scott said. ``They recognize it won't be done soon.''
The draft calls for the merger of the SEC, which regulates investment banks, securities and stock exchanges, and the CFTC, which oversees about $4.2 trillion of daily trades in products ranging from orange juice to foreign currencies.
Turf Wars
The two authorities have fought turf wars over instruments such as derivatives, which share characteristics of both securities and futures. The Treasury report said ``regulatory bifurcation'' has made separate oversight of securities and futures ``untenable, potentially harmful and inefficient.''
Treasury also endorsed the CFTC's use of so-called principles-based regulation, in which overarching guidelines trump specific rules. Treasury said the SEC should apply the principles approach to its oversight of stock exchanges.
Greater Fed Role
The study envisions the Fed with broader oversight powers, especially in the area of market stability, and possibly less powers for bank supervision. The study suggests that the FDIC could take on the role of supervising state-chartered banks.
In other areas, the Fed gathers more power. The study proposes that the Fed become a ``market stability'' regulator, with powers over insurance companies and securities firms with federal charters.
The study also suggests a distinction be made between the Fed's ``normal'' lender-of-last resort discount window to help banks meet short-term funding needs and ``market stability'' lending to help stave off severe funding shortages and panics. In that function, the loans could be extended to federally chartered insurance companies and financial institutions, the study says.
To contact the reporter on this story: John Brinsley in Washington at [color=#0000ff][email protected][/color]; Jesse Westbrook in Washington at [color=#0000ff][email protected][/color].
Last Updated: March 29, 2008 00:00 EDT

Same shit in the last 12 months or so. The more they shake it, the more it stinks.

Never ending story

I know....let's see how the markets take a hold of this one come Monday.

Enjoy the rest of the weekend gang.....

HOLLA

will do.

It's really funny, coz, when the big banks are in the profit, the speech is "market can regulate itself".

When the market finally regulates itself - by bursting the bubbles and eating part of the profits - then the speech changes to "this market needs regulation".

Big banks are fatass starving babies and when the lollipop ends, they scream and cry and beg for more - and more and more.

The taxpayers are the diapers. It's awesome to have their support, but when something goes wrong, their interests are dismissed.

And the world keeps spinning around and around and around.

Yep, I pay taxes and watch the greedy waste my money. They then send a check to say here is $600 to make you feel better. Then all of a sudden my taxes get raised again. And these folks are in charge?????

Something's not right here......

HOLLA

BWR spotted

http://img.terra.com.br/i/2008/03/29/730090-1991-ga.jpg

Hasn't found his teeth yet, but he sure has our prayer over here.

Keep in mind, if you snore, don't bike, if you bike, don't snore

Hey guys, have you watched "Mad Money" (I mean the movie, not Cramer's show) ? It's about those 3 women and their boyfriends robbing the FED and there was a line, where the one guy told the another how he should explain his income, if someone asks him: "And what you need is a job. Day trading, online. If anybody asks, you are in the short term futures, if someone wants a tip just tell them "the market is too volatile" " Kind of reminded me of our forum right here, where everybody uses this line, as if we all were bank robbers
http://www.iwatchstuff.com/2007/11/2...ney-poster.jpg

Didn't see the movie yet, but it's on the list...

Actually it's kinda wierd that financial market is not explored in Hollywood, isn't it? Since Gekko, I can't remember anything else...

Here in Brazil the Warner Channel is showing Bull again. I didn't see before and it's really nice show.

The cast of that movie was on CNBC months ago I won't bother watching it, I hate stupid movies.

I think the latest "close to" the financial market movie is "Pursuit of Happyness" by Will Smith..

Yo guys..
any "interesting" news over the weekend that we should aware of?
Lehman sh*tting on the japs?
Paulson playing with his "regulation"?

or zimbabwe...

Long Rand!!!