Topic: U.S. Federal Reserve

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Briefing
Five things Ron Paul wants from the Republican National Convention

It looks as if Ron Paul is going to be an active participant in the Republican National Convention in Tampa this August. Here’s our take on the five things Paul hopes to gain from staying within his party’s tent in 2012.
Can the national debt be cut? How Republican candidates' plans compare.

Here's a comparative look at the candidates based on the group's numbers.
Five budget realities no politician will talk about (not even Ron Paul)

Ron Paul deserves credit for making the boldest proposals of any candidate in the presidential race. The astonishing reality of the federal government’s budget situation, however, is that even his plans might not be enough to keep Uncle Sam out of bankruptcy. While President Obama offers a $3.8 trillion budget that optimistically might cut the federal deficit to $575 billion by 2018, federal data suggest the United States is already broke. The Federal Reserve estimates that the net value of all private assets, including real estate, stocks, bonds, businesses, cash, etc., is $57 trillion. But the Treasury Department estimates the federal government’s net worth is a negative $61 trillion. Here are five budget realities that no candidate wants to acknowledge:
What can be done to create jobs? Six leading ideas.

The job market has shown some very welcome signs of improvement lately, but it still has a long way to go before approaching something Americans would call normal. Here’s a look at some of the proposed solutions out there.
Europe's debt crisis: 5 ways it's been put to good use

Europe’s debt crisis has roiled financial markets and populations. But beyond nationwide strikes and gyrating markets, Europe has put its crisis to good use. Here Jacob Funk Kirkegaard, a research fellow at the Peter G. Peterson Institute for International Economics points out five trends that will ultimately strengthen the European Union and the euro currency.

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The Daily Reckoning
Facebook IPO: The end of an era

The failure of Facebook's public debut may signal the end of the pie-in-the-sky tech start up, as well as the possibility that the post-crisis recovery rally is screeching to a halt.
Gas prices lower on Memorial Day: How much will you save?

Gas prices have fallen an average 27 cents a gallon since April and are 12 cents lower than last Memorial Day. With gas prices down, experts predict more Memorial Day travel, dining, and shopping.
Federal Reserve official: If Congress dawdles, economy will fall 3 percent

Congress must sort out a raft of fiscal issues before Jan. 1, or it will cost the US economy dearly, said New York Federal Reserve President William Dudley.
Robert Reich
Obama should attack what Bain and JPMorgan have in common

Rather than lobbing generalized  attacks at Mitt Romney and American business, Obama should attack a particular kind of capitalism that Romney and JPMorgan both practice: using other peoples’ money to make big bets which, if they go wrong, can wreak havoc on the economy.
Briefing
Five things Ron Paul wants from the Republican National Convention

It looks as if Ron Paul is going to be an active participant in the Republican National Convention in Tampa this August. Here’s our take on the five things Paul hopes to gain from staying within his party’s tent in 2012.
The Reformed Broker
Explaining the bumpy stock market

US stocks are being pushed lower by factors like uncertainly in Europe, and pulled higher by better jobs data and good news on the housing market. It can be hard to see from a day to day perspective.
Ron Paul 'bloodless coup' in Minnesota takes most delegates. Now what?

Ron Paul won 12 of 13 delegates in Minnesota's state GOP convention. If Mitt Romney has the nomination all but tied up and Paul has effectively ended his campaign, why continue the fight?
The Circle Bastiat
Let's leave the labor market alone

The US labor markets are enormously flexible and dynamic. So why regulate them?
Facebook IPO: Can it survive a downbeat market? (+video)

Facebook IPO likely to do well on its first day of trading. But Facebook IPO would do much better in a stronger stock market.
Robert Reich
Obama's disappointing response to JPMorgan Chase

Even if he didn't want to criticize Jamie Dimon, the president could have used the occasion of JPMorgan Chase's $2 billion trading loss to come out squarely in favor of tougher financial regulation. He didn't.
JPMorgan Chase trading fiasco: What to do about big banks?

JPMorgan's loss of $2 billion shows that the forces that unleashed the recession remain partially untamed – and that Congress is still struggling to get a handle on the solution.
How Greek economic woes could help US consumers

Fears that Greece may default on its debt are spurring interest in US Treasury bonds, driving down interest rates on mortgages and auto loans – but not (alas) for credit card debt.
JP Morgan chief apologizes for $2 billion loss

Jamie Dimon, the CEO of the bank, told shareholders that the loss should have never happened.
Decoder Wire
Could Ron Paul really have an impact on the GOP convention?

The Ron Paul campaign issued a memo outlining its strategy to secure 'the greatest possible impact' on the GOP convention. But its influence may be more symbolic than practical.
JPMorgan Chase's Dimon survives pay, chairmanship votes (+video)

JPMorgan Chase shareholders voted Tuesday at the bank's annual meeting to keep CEO Jamie Dimon in his role as chairman of the board, in addition to his pay package.
JP Morgan loss: Did US regulators know what CEO Jamie Dimon apparently didn't? (+video)

Federal regulators embedded at JP Morgan are supposed to get the reports that CEO Jamie Dimon gets. But in the case of JP Morgan's $2 billion loss, that might not have been much help.
Ina Drew retiring after JPMorgan losses. Will she get $14.7 million?

Ina Drew, at the center of JPMorgan's stunning loss, was among its highest-paid executives. Proxy statement says Ina Drew would be entitled to nearly $14.7 million if she met 'full-career eligibility.'
JP Morgan losses send Wall Street back to Capitol Hill (+video)

Congressional critics plan hearings to probe how America's largest bank posted $2 billion in trading losses – and whether new financial regulations, still being implemented, go far enough to rein in Wall Street abuses
JPMorgan reveals huge $2 billion trading loss

JPMorgan stock drops nearly 7 percent in after-hours trading. JPMorgan CEO Dimon blames 'errors, sloppiness, and bad judgment.'
Stocks slide as doubts about Europe simmer

Stocks pitched down Wednesday in the US as borrowing rates climbed for Spain and Italy, a sign that investors are losing confidence in those countries' finances. The Dow lost 97 points to close at 12835 – its sixth consecutive day of losses.
Greek political disarray, worries about Spain push euro to three-month low

Greece has still not formed a government, imperiling its bailout and increasing the chances of it being forced out of the eurozone.
The Daily Reckoning
Will austerity come to the US?

The United States may be headed for the same belt-tightening austerity that has caused an uproar across Europe. Done right, it could actually work.
Decoder Wire
Sen. Rand Paul knows how to fix the TSA: end it

Freshman Sen. Rand Paul, backed by GOP presidential candidate Ron Paul, aims to abolish the TSA – and its intrusive searches of air travelers – and to establish a passenger bill of rights.
The Daily Reckoning
The dollar is in decline. So how to invest it?

The Federal Reserve's role should be to protect the value of the dollar.  But the dollar has been in decline for most of the last century.
Cleveland anarchists' getaway plan: a box full of thumbtacks

Five men were arrested Monday for an alleged conspiracy to blow up a bridge near Cleveland. Their purported discussions about their plans are detailed in a 22-page affidavit.