Sunday, November 15, 2009

Sunday reading November 15th

10 Years Later, a Much Less Expensive Dow 10,000 : Investors may take some comfort now that the Dow Jones industrial average is back above 10,000 after slipping to around 9,700 at the end of October. But the return to 10,000 also serves as a bitter reminder that stocks have gone virtually nowhere, on balance, for more than a decade.

UK to Propose Legislation to Contain Banker Pay, Make Suits Against Banks Easier: In the UK a very serious proposal to rein in banker pay is about to be put forward. If this were the US, one would assume that this is mere showmanship, a nice bit of grandstanding for something certain to be diluted into irrelevance.

Discretion and financial regulation: An enduring truth about financial regulation is this: Given the discretion to do so, financial regulators will always do the wrong thing.

Obama says China not a threat: America will not try to contain a rising China, Barack Obama, the US president, told an audience in Japan on Saturday on the eve of his first visit to the world’s most populous nation.

Buffett: Put out economic fire then deal with deficit: Investor says he has faith that U.S. economy will create jobs and it will fare well against China.

Derivatives: over the Counter, out of Sight: Derivatives are extraordinarily useful – as well as complex, dangerous if misused and implicitly subsidized. No wonder regulators are taking a close look.

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