WSJ: Big Banks Face Fines on Role of Servicers

* 17 Feb 11: 02:45(SGA) - FX NOW! USD/CHF, USD/JPY Flows - WSJ: Big Banks Face Fines on Role of Servicers

USD/JPY finding some buying from Japanese mega-city banks, possibly importers and corporates, now at 83.55-60. USD/CHF at 0.9580-85, weighed by geopolitical M.E. concerns and EUR/CHF sales, now 1.3020-25. Some focus on US banks. WSJ: A review of mortgage-servicing practices by US regulators found serious problems with internal controls and staffing levels, likely to result in formal enforcement action against more than a dozen major financial institutions. The penalties against BoA., JP Morgan, Wells Fargo + 11 other home-loan servicers being investigated since last fall over breakdowns in procedures for payment collection, loan modifications and foreclosures could include fines and changes in how the companies operate. On FX, good to watch any impact on US banks stocks. Dow futures now -0.1%.USD/JPY offers ahead of 84 options. USD/CHF eye break of 0.9400, offers 0.9600-10. WL

* 17 Feb 11: 02:02(SGA) - FX NOW! GBP/USD, EUR/USD Flows - FT : Germany seeks deal on global imbalances/ G20

Some players are getting a touch bullish for EUR, AUD, GBP and bearish USD - some seeing a "break up" day for EUR, AUD, GBP today. More on G20: FT: The German govt expects G20 to agree on specific indicators to monitor the causes of global imbalances but does not see them setting quantifiable targets for individual countries, a senior unnamed German official said. A deal, which could be reached this weekend, would seek to reconcile the divergent views of the US, which has the world's largest trade deficit, with those of China and Germany, boasting two of the largest surpluses The German official said agreement was close on five indicators of the "causes of imbalances": c/a imbalances, real FX rates, public sector debt and deficits, currency reserves, and private sector savings rates. On FX, EUR/USD at 1.3595-97, offers 1.3600-20/ 50. Bids 1.3540-50. GBP/USD at 1.6108-10. offers 1.6130-50/ 1.6200. WL

Wikirebels: A Documentary about Information Brokerage

Sustainable family outside LA

List of Windows Services that can be safely set to manual

Here is a list of services that can be safely set to MANUAL:

Application Experience
Computer Browser (If your computer is not connected to any network)
Desktop Window Manager Session Manager (If you don't use Aero theme)
Diagnostic Policy Service
Distributed Link Tracking Client
IP Helper
Offline Files
Portable Device Enumerator Service
Print Spooler (If you don't have Printer)
Protected Storage
Remote Registry (Always disable it for Security purposes)
Secondary Logon
Security Center
Server (If your computer is not connected to any network)
Tablet PC Input Service
TCP/IP NetBIOS Helper
Themes ( If you use Windows Classic theme)
Windows Error Reporting Service
Windows Media Center Service Launcher
Windows Search (If you don't use Windows Search feature frequently)
Windows Time (If you don't want to update system tray clock time using Internet)
PS: You can see the details of each service to determine whether you should disable it or not.

Greenback remains firm

Greenback remains firm, helped by strong US ADP/ ISM data, and rising UST yields - eye tom key US NFP. Many houses are ramming up the NFP forecast from 140-150K after the "treble" surprise in ADP to 297K from 100K exp. Not surprised to hear calls for +300K NFP - though could be disappointed. USD/JPY fixing at 83.38, having hit fresh 2-week highs of 83.41 earlier on Japanese fixing demand, highest since Dec 23 83.57. Offers 83.30-50 from Japan exporters, mega-city banks, eye sovereign offers. China PBoC fixes USD/CNY firmer at 6.6322, from 6.6192 - again showing "Flexibility" - as seen in recent days - higher USD/CNY fixing, followed by lower closing, and then higher fixing the next day again. Eye any widening of the 0.5% trading band. USD/CHF at 0.9669-70, off yest 2-week highs 0.9686. WL

Feast in Time of Plague: Wall Street Art of Sucking Money

Wikileaks could take down a bank or two

http://blogs.forbes.com/andygreenberg/2010/11/29/an-interview-with-wikileaks-julian-assange/
So do you have very high impact corporate stuff to release then?
Yes, but maybe not as high impact…I mean, it could take down a bank or two.

'A Universe From Nothing' by Lawrence Krauss, AAI 2009

Soros Gold Bubble Expanding as ETPs Hold 9 Years of U.S. Output

Soros Gold Bubble Expanding as ETPs Hold 9 Years of U.S. Output
Soros Gold Bubble Expanding as ETPs Hold 9 Years of U.S. Output

Rothschild bolsters gold shelter in 'fragile' and 'unbalanced' times

Rothschild bolsters gold shelter in 'fragile' and 'unbalanced' timesRothschild bolsters gold shelter in 'fragile' and 'unbalanced' times

QE2 risks currency wars and the end of dollar hegemony

http://www.telegraph.co.uk/finance/currency/8103462/QE2-risks-currency-wars-and-the-end-of-dollar-hegemony.html

PUMP: Fed Likely to Announce $500 Billion of Purchases...

'Biggest decision in decades'...

Fed easing may means 20% drop of dollar value...

'The end of dollar hegemony'...

 

http://www.marketoracle.co.uk/Article23855.html

CURRENCY WARS, Debase, Debt Default and Deny!

Fraudclosure: $45 TRILLION DOLLARS nobody knows real owners

Pimco – Run Turkey Run

http://www.pimco.com/Pages/RunTurkeyRun.aspx#

• The Fed's announcement of a renewed commitment to Quantitative Easing has been well telegraphed and the market's reaction is likely to be subdued.
  
• We are in a "liquidity trap," where interest rates or trillions in asset purchases may not stimulate borrowing or lending because consumer demand is just not there.
  
• The Fed's announcement will likely signify the end of a great 30-year bull market in bonds and the necessity for bond managers and, yes, equity managers to adjust to a new environment.
  

NFA calls IKON on failure to maintain MetaTrader

The Complaint alleged that IKON engaged in certain price slippage practices on the MetaTrader platform that were favorable to IKON and caused disadvantageous trading conditions for certain customers. The Complaint also charged that IKON failed to supervise the MetaTrader platform used for their forex business, and failed to supervise the firm's operations.

http://www.nfa.futures.org/news/newsRel.asp?ArticleID=3679

NFA orders $459,000 monetary sanction against New Jersey forex firm Gain Capital Group LLC

October 28, Chicago - National Futures Association (NFA) has ordered Gain Capital Group LLC (Gain), a forex dealer member located in Bedminster, New Jersey, to pay a $459,000 fine as a result of an NFA Complaint issued and a settlement offer submitted by Gain and its chief executive officer, Glenn H. Stevens.

NFA's Business Conduct Committee alleged that Gain engaged in abusive margin, liquidation and price slippage practices that benefited Gain to the detriment of its customers. The Committee also alleged that Gain failed to maintain records for certain unfilled orders, failed to adequately review the activities and promotional material of the firm's unregistered solicitors, and failed to supervise the firm's operations.

In addition to the fine amount, Gain must also provide appropriate refunds to its customers as a result of these detrimental margin, liquidation and asymmetrical slippage practices.

Gain and Stevens neither admitted nor denied the charges. The complete text of the Complaint and Decision are available on NFA's website (www.nfa.futures.org).

NFA is the premier independent provider of innovative and efficient regulatory programs that safeguard the integrity of the futures markets.

http://www.nfa.futures.org/news/newsRel.asp?ArticleID=3676