http://eesfx.com/eesfx/index.php/forum/22-drs-ct.html DRS CT
http://eesfx.com/eesfx/index.php/forum/22-drs-ct/62-drs-ct-13-support-issues.html Support Issues
http://eesfx.com/eesfx/index.php/forum/22-drs-ct/65-drs-ct-testing-and-optimization.html Testing and Optimization
http://eliteib.com/ - Features information for IBs, resources, information, and regulatory news
http://eesfx.com/eesfx/index.php/support/expert-advisor-trouble-ticket.html Submit an EA ticket
http://eesfx.com/eesfx/index.php/support.html General EES FX support area
http://myfxbook.wordpress.com/2010/03/07/developers-api-and-new-language-released/ The API allows programmatic access to your account's data, allowing to create iPhone/Android applications, Facebook applications, customized widgets and more. The API area is accessible from the bottom menu (http://www.myfxbook.com/api) .
http://www.washingtontimes.com/news/2010/mar/02/white-house-land-grab/
You'd think the Obama administration is busy enough controlling the banks, insurance companies and automakers, but thanks to whistleblowers at the Department of the Interior, we now learn they're planning to increase their control over energy-rich land in the West.
A secret administration memo has surfaced revealing plans for the federal government to seize more than 10 million acres from Montana to New Mexico, halting job- creating activities like ranching, forestry, mining and energy development. Worse, this land grab would dry up tax revenue that's essential for funding schools, firehouses and community centers.
http://skype-contact-explorer.com
The skype contact explorer is a companion for Skype that installs in Windows 7, XP, Server x. The companion is a powerful communication tool allowing you to maximize your skype account when using as your primary means of communication. Send messages faster, to more users. Tap the potential of the skype user base.
Features
http://skype-contact-explorer.com
Users of EES DRS CT EA can receive support in the following forum thread:
http://eesfx.com/eesfx/index.php/forum/22-drs-ct.html
When posting any issue please provide:
-Broker name and information (such as server)
-Experts Tab
-Journal
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-Description of issue
http://www.telegraph.co.uk/finance/comment/ambroseevans_pritchard/7338857/Dont-go-wobbly-on-us-now-Ben-Bernanke.html#comments
The state has been paying bills with unfunded vouchers since October. A fifth of buses have stopped. Libraries, owed $400m (£263m), are closing one day a week. Schools are owed $725m. Unable to pay teachers, they are preparing mass lay-offs. "It's a catastrophe", said the Schools Superintedent.
In Alexander County, the sheriff's patrol cars have been repossessed; three-quarters of his officers are laid off; the local prison has refused to take county inmates until debts are paid.
http://www.bloomberg.com/apps/news?pid=20601103&sid=axVyZwMB3FVU Nov. 3 (Bloomberg) -- The U.S. dollar may appreciate 10 percent against the euro in one to three months, said Marc Faber, the publisher of the Gloom, Boom & Doom report.
"Maybe the dollar has made a turn, it can easily rebound by 10 percent," Faber said in an interview in Istanbul. "It may have started already since the asset markets started to go down 10 days ago."
Elite E Services, Inc. is releasing its premier DRS system with other Expert Advisors for $99/month, including DRS CT hybrid scalping system, and access to eesfx.com.
Columbia, SC, March 01, 2010 --(PR.com)-- Elite E Services announces the release of an automated hybrid scalping system for the Forex market. Developed for the meta trader 4 platform, this expert advisor is designed as an ultra-high frequency scalping strategy. EES is including it with its other EAs for only $99/month. The strategy represents the core algorithm from the DRS system, which has been developed and traded over a period of years.
"Traders need a suite of tools to succeed in the FX markets, the DRS CT Hybrid Scalping system can represent a part of that arsenal," says Joseph James Gelet, President of Elite E Services.
The system has several iterations so the same strategy can be used as if it is several different systems. For example, one version trades only during the Asian session. To learn more about this system, please visit http://eliteetrader.com
Press Release on PR.com
http://www.pr.com/press-release/216136
Google News search for EES http://news.google.com/news/search?aq=f&um=1&cf=all&ned=us&hl=en&q=elite+e+services
http://www.digitaljournal.com/article/288143
Jim Rogers, Chairman of Rogers Holdings, has once again made a bold prediction and that is the British Pound could quite possibly collapse within the coming weeks.
Jim Rogers, co-founder of the Quantum Fund and founder of the Rogers Commodities Index, was quoted in a recent press release that the United Kingdom Pound is on the brink of utter collapse, which could happen within the coming weeks and there is nothing governments can do about it.
Rogers, making statements prior to delivering a keynote speech at next month's Global Trading Day seminar in Westminster, believes the collapse of the Pound could foreshadow a global economic disintegration before the end of the year. The last few months of increases in the markets have been a "false bounce" and occurred due to government interference in the market and throwing everything at it except for the kitchen sink.
http://abcnews.go.com/Business/wireStory?id=9958995
Dominique Strauss-Kahn, the head of the International Monetary Fund, suggested Friday the organization might one day be called on to provide countries with a global reserve currency that would serve as an alternative to the U.S. dollar.
"That day has not yet come, but I think it is intellectually healthy to explore these kinds of ideas now," he said in a speech on the future mandate of the 186-nation Washington-based lending organization.
Strauss-Kahn said such an asset could be similar to but distinctly different from the IMF's special drawing rights, or SDRs, the accounting unit that countries use to hold funds within the IMF. It is based on a basket of major currencies.
He said having other alternatives to the dollar "would limit the extent to which the international monetary system as a whole depends on the policies and conditions of a single, albeit dominant, country."
Strauss-Kahn, a former finance minister of France, said that during the recent global financial crisis, the dollar "played its role as a safe haven" asset, and the current international monetary system demonstrated resilience.
http://www.henrymakow.com/lamebook_--_revolt_of_the_stup.html
If you want a glimpse into the decadence and immorality of the next generation of Americans, look no further than lamebook.com.
This particular site, which gets 12 million hits a day, allows users to post their most "humorous" conversations from the social networking giant facebook.com. Needless to say, humor is in the eye of the beholder. While perusing this website, I didn't find much to laugh about. But I can almost see the smug smile on a social engineer's face.
The silent weapons used for dumbing down America are now humming along at full tilt. Education, feminism, and the mass media were designed to integrate America into the fast emerging global state. Facebook and Lamebook are an interactive extension of that most ruthless of weapons, television.
Financial Tracking Technologies, LLC is the proven leader in reducing costs through automated compliance software (patents pending) with modular features. The SEC is a client. Its solutions enable positive assertions and proof that policies, procedures and internal controls exist and are operating effectively.
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To register for the WebEx meeting, just email Insider@Financial-Tracking.com.
MTF's and Exchanges are much in evidence this week as Atrium Network and BATS announced Multicast PITCH data feed, Fixnetix offered direct market data feed and trading access to Burgundy, and Turquoise and EuroCCP introduced trading and clearing services for Hungary and Czechoslovakia.
In Japan QUICK and FXall launched QUICKFX, a new FX Trading Platform, ACTIV Financial exposed technology behind TSE Arrowhead, whilst in Europe Euroclear is to reduce its trade netting tariff from1st March, a move welcomed by the LSE which estimated a £10m saving as a result.
ICAP selected Tervela's TMX for ICAP Electronic Broking, Hibernia Atlantic's GFN platform became part of Switch and Data's GeoReach Program and CFN Services announced the completion of metro Toronto, NY/NJ and London execution venue connectivity.
Interactive Data expanded its ultra-low latency trading network Interactive Data 7ticks to the East Coast, The Goldman Sachs Group made a minority investment in Tora Holdings, and Fidelity brought us news of an iPhone App for brokers. Integral announced FX Inside Alpha, its on demand solution, whilst Progress and SRL teamed up to produce 'Broker in a box' and 'Hedge fund in a box', click here for more details on these.
Surprise news this week as Hirander Misra resigned from Chi-X, however recruitment was also very much to the fore as Knight Capital Group hired a new sales and trading team, Citi India expanded its sales and equities team with over 25 new appointments, and in Australia Instinet announced additions to its new Sydney office.
http://www.bloomberg.com/apps/news?pid=20601087&sid=asBNXSLtlN9E&pos=2
Feb. 17 (Bloomberg) -- Goldman Sachs Group Inc. managed $15 billion of bond sales for Greece after arranging a currency swap that allowed the government to hide the extent of its deficit.
No mention was made of the swap in sales documents for the securities in at least six of the 10 sales the bank arranged for Greece since the transaction, according to a review of the prospectuses by Bloomberg. The New York-based firm helped Greece raise $1 billion of off-balance-sheet funding in 2002 through the swap, which European Union regulators said they knew nothing about until recent days.
http://www.ftc.gov/multimedia/video/business/endorsement-guides.shtm
http://ftc.gov/os/2009/10/091005revisedendorsementguides.pdf
http://www.ftc.gov/multimedia/video/business/red-flags-rule.shtm
The revised Guides provide directions for applying the Guides in the context of social media such as blogging and twittering. The FTC states that the revised Guides apply to blogging and the use of other forms of social media in advertising (e.g., micro-blogging, buzz, viral and word-of-mouth marketing). The revised Guides provide new direction as to how the requirement for disclosure of "material connections" will apply in the social media context. In fact, the FTC's commentary expressly notes that bloggers may be subject to different (and presumably heightened) disclosure requirements than reviewers in traditional media. Further, the revised Guides make no per se distinction between monetary compensation versus in-kind compensation (e.g., product giveaways) paid to the blogger, nor is there a per se distinction between professional versus amateur bloggers. The FTC's commentary emphasizes that advertisers using such forms of social media should establish procedures to advise endorsers to make the necessary disclosures of their material connections to the advertiser, and monitor their endorser's conduct.
http://www.mondaq.in/unitedstates/article.asp?articleid=88798
Using testimonials from customers and others can be a very effective way to promote your business. After all, everybody expects you will say great things about yourself in your advertising. But an unsolicited rave review from a satisfied customer or industry leader? Solid gold. Still, there are rules. Let's take these three items one at a time.
Letters from customers: Customers who are delighted at getting superior service often write thank-you letters, but that doesn't mean they are authorizing you to use those letters in your promotional efforts. Unless the letters state specifically that it's OK to use them in your marketing literature, I would write or e-mail them and ask for specific written permission to reproduce all or parts of the letter on your Web site. If they don't respond to your request for permission, I would view that as denying you the right to post the letters online.
In addition, the DMA is now considering changes to its guidelines for advance consent marketing, in light of a Senate inquiry that raised concerns about how best to obtain adequate and informed consent from consumers for post-transaction/negative option programs online.
http://www.the-dma.org/virtualseminars/advanceconsent/
http://branch.vimeo.com/9002248
http://www.youtube.com/watch?v=DBMlq3R85Xk&feature=related
http://www.adlawbyrequest.com/2009/02/articles/industry/ftc-endorsement-testimonial-guidelines/
The following experts have said that the economic crisis could be worse than the Great Depression:
HERE'S a new one for the hedgie lexicon: Valletta. The capital of Malta is not yet on a par with Mayfair or Geneva but it is fast becoming a second home for many of London's hedge funds.
Confused? Let me explain. The country offers all the perks of being offshore — low taxes and a favourable regulatory regime — but it's part of the European Union, which makes investors comfortable about handing over huge wads of cash. The operating costs are also seriously low. "Running an office there costs half as much as the rest of Europe — it's a poor man's Geneva," said one manager.
I'm told that the hedgies are colonising the waterfront offices in Valletta and the pretty resort town of Saint Julians — they always get the best bits. About 20 London-based firms set up an office there last year, including the £1 billion oil traders Bluegold, Pamplona Capital and Liongate. So, what do you do in Malta? A country that seems to be famous for two things: its honey (special because it hosts a unique species of bee) and because the artist Caravaggio spent 15 months there. "It's good for boating and fishing," said my local spy this weekend. "The weather is nice, it's not snowing here." There you have it: move to Malta because . . . it's not snowing.
http://business.timesonline.co.uk/tol/business/columnists/article6982388.ece
Elite E Services will be available for telephone support every Friday from 9am – 9pm, by Skype or Telephone 646 837 0059. EES continues email and eesfx.com support 24/7.
http://www.cbsnews.com/blogs/2010/02/17/politics/politicalhotsheet/entry6217403.shtml South Carolina Rep. Mike Pitts has introduced legislation that would mandate that gold and silver coins replace federal currency as legal tender in his state.
As the Palmetto Scoop first reported, Pitts, a Republican, introduced legislation this month banning "the unconstitutional substitution of Federal Reserve Notes for silver and gold coin" in South Carolina.
In an interview, Pitts told Hotsheet that he believes that "if the federal government continues to spend money at the rate it's spending money, and if it continues to print money at the rate it's printing money, our economic system is going to collapse."
"The Germans felt their system wouldn't collapse, but it took a wheelbarrow of money to buy a loaf of bread in the 1930s," he said. "The Soviet Union didn't think their system would collapse, but it did. Ours is capable of collapsing also."
http://news.cincinnati.com/article/20100212/NEWS01/2130321 Toyota has been hit with a racketeering suit, alleging the car manufacturer participated in an ongoing fraud involving recent claims of stuck gas pedals.
http://www.google.com/hostednews/ap/article/ALeqM5jwhsZGkLiVy8vjdii7LLsWETrT3AD9DTGOI00
http://online.wsj.com/article/SB10001424052748704804204575069542501998792.html
http://www.dailyfinance.com/story/company-news/how-recall-plagued-toyota-lost-its-way/19357113/
http://apps.detnews.com/apps/blogs/danielhowesblog/index.php?blogid=355#ixzz0flHi9OfL
http://www.sfgate.com/cgi-bin/blogs/opinionshop/detail?entry_id=57352#ixzz0flGgvsyO
http://www.huffingtonpost.com/philip-g-baker/the-toyota-coverup_b_462187.html
http://www.ft.com/cms/s/0/15e1c63c-1b64-11df-838f-00144feab49a.html
http://www.usatoday.com/money/autos/2010-02-17-toyota17_ST_N.htm
http://hosted.ap.org/dynamic/stories/U/US_TOYOTA_RECALL_US?SITE=CAOAK&SECTION=HOME&TEMPLATE=DEFAULT
http://www.dailyfinance.com/story/company-news/how-recall-plagued-toyota-lost-its-way/19357113/ Toyota (TM) has now recalled about 9 million vehicles and counting, including the latest recall involving 8,000 2010 Toyota Tacomas to inspect their front drive-shaft which could contain a cracked part that could get even worse when customers drive the truck. When joined with the sudden acceleration problems and flawed breaking systems of various other Toyota models, it seems likely that Toyota has lost its way. The reason? Toyota abandoned the Toyota Way in its quest for growth.
The Toyota Way was a management method in which newly hired Toyota engineers would work closely for 10 years with experienced masters who taught the newbies how to make the trade-offs between the pressure to lower costs and the need to maintain high quality, according to the Washington Post. The Toyota Way enabled Toyota to produce high quality vehicles less expensively and charge a price premium, about which I wrote, since they lasted longer and cost less to maintain.
That strategy contributed heavily to Toyota's growth over many decades because that reputation for top quality attracted more satisfied customers who recommended Toyota to others. But all that changed in the early 2000s. As I posted, in 2002 Toyota saw a chance to overtake General Motors as the world's largest vehicle manufacturer which set Toyota on a too-rapid growth path -- it produced 60% more vehicles in 2008 than in 2000 -- that stressed the Toyota Way to its breaking point.
While all the details have yet to be unearthed, a general picture of what went wrong is emerging. The biggest problem is that as Toyota grew, it was unable to produce enough engineering mentors to train for 10 years the new engineers that it was hiring to design the new models needed to meet its corporate growth targets. The new engineers made bad design choices which lowered cost and quality -- under the Toyota Way, remember, engineers had been able to cut costs while maintaining or boosting quality.
There were other problems as well -- from Toyota's decision-making style to ignoring customer complaints -- that allowed these bad design decisions to persist. For example, although most of Toyota's sales came from North America, all corporate decisions were made in Japan -- where Toyota executives lacked in-depth insights into the conditions in the U.S. market.
And as the Washington Post reported, Toyota's executives outlined specific process problems that contributed to the nine million vehicle recall:
So now that all this information is out, does this mean that Toyota stock -- now trading 43% below its December 2006 all-time high of $134 -- is a screaming buy? At a Price/Earnings to Growth (PEG) ratio of 2.1 -- on a forward P/E of 25.2 and average annual earnings growth of 12% for the next five years -- the stock is not cheap.
And since I believe it will take another year for Toyota to find all the problems and discover the underlying causes of all of them, I am not expecting Toyota to be able to redesign its management methods and fix all the problems it discovers for another three to five years.
Until then, its earnings growth forecasts are suspect and I would not be shocked to see more big recalls which could further sink its stock price.
http://www.breitbart.com/article.php?id=D9DSNHHG0&show_article=1
WASHINGTON (AP) - The government has received new complaints that bring to 34 the total number of alleged deaths in Toyota vehicles due to sudden acceleration since 2000, according to government data posted Monday.
The government has received complaints during the past three weeks alleging 13 deaths. The deaths allegedly tied to this problem happened in nine crashes between 2005 and 2010.
From 2000 to 2009, complaints alleging 21 deaths in Toyota vehicles had been filed with the government.
http://www.guardian.co.uk/commentisfree/2010/feb/13/toyota-innocent-age-motoring
http://www.printthis.clickability.com/pt/cpt?action=cpt&title=Toyota+Faces+Tough+Job+Rebuilding+Reputation+|+Economy+|+English&expire=&urlID=420788557&fb=Y&url=http%3A%2F%2Fwww1.voanews.com%2Fenglish%2Fnews%2Feconomy-and-business%2FToyota-Faces-Tough-Job-Rebuilding-Reputation-84388992.html&partnerID=571322&cid=84388992 A still image from Toyota's commercial addressing Recalls in the US
Japanese automaker Toyota has announced yet another recall. This time it is Tacoma pickup trucks sold in the United Sates. The announcement is the latest in a string of recalls that have hurt the company's image, and prompted concern among many in Japan.
The Toyota brand is an icon in Japan. Its global success is a source of national pride. So when the automaker announced plans to stop selling millions of its cars in the United States and Europe last month because of gas pedal defects, the Japanese were concerned. When the company expanded its recalls to Japan, the public reacted with disbelief.
Toyota was founded in the early 1930s but the its real success came after World War II when it developed something called "The Toyota Production System." The system focused on "kaizen" or continuous improvements. It called for flexibility on assembly lines, and mandated that problems be fixed as soon as they were discovered so mistakes would not be repeated.
Quality and reliability became Toyota's selling point. But with defective brakes, sticky gas pedals, and loose floor mats prompting recalls of Toyota cars worldwide, that reputation is falling fast.
Jeff Kingston teaches modern Japanese history at the Temple University branch in Tokyo. He says the company has lost its way.
"I think they've grown complacent, resting on their laurels," he noted. "I think their management system is antiquated. We've seen how slow decision making can be."
Kingston says the company waited too long to respond to the problems. It took weeks for Toyota President Akio Toyoda to speak publicly about the recalls. When he did hold a news conference, he apologized for "inconveniencing the customers." He also has vowed to "redouble the company's commitment to quality."
Kingston says that apology was not enough.
"Toyota has failed to measure up to international standards; it's also failed to measure up to Japanese expectations," he added.
Toyota's problems come amid a growing number of complaints, accidents, recalls and financial problems for several leading Japanese companies. The spike in complaints is partly the result of a new law that requires Japanese companies to report serious product-related accidents.
Government reports also say the number of domestic car recalls doubled between 2004 and 2008, compared with the previous five years. Last week, Honda recalled more than 400,000 cars worldwide because of defective air bags.
Waseda University Finance Professor Yukio Noguchi says Toyota's problems are a sign of arrogance, after years of global success. But he says it is unfair to compare its problems with those of other Japanese companies.
"This problem is a very special problem and you cannot draw general conclusions from this about Japanese manufacturers as a whole," he explained.
Toyota is trying to restore its image with a massive public relations campaign. The company has placed full-page ads in newspapers and is airing TV commercials in the U.S., vowing to put quality and customers first.
But Kingston says Toyota must go further than that. He says the company must become more transparent and accountable, and reconnect with customers.
"Look at [South] 5-Korean companies," added Kingston. "Look at how they're charging ahead. Look at how they've got that competitive edge. Japan needs to regain that."
With increasing competition from South Korea, Kingston says Toyota and other Japanese companies must change fast.
http://www.sfgate.com/cgi-bin/blogs/gsindell/detail??blogid=182&entry_id=57101
Guess Who's The Test Dummy Now?
Edwards Deming would be so proud. The man who endowed the Japanese with a passion for quality after the Second World War might appreciate the level of perfection his protege Toyota now brings to the fine art of corporate self-destruction. At every step of the way Toyota has outperformed all competitors. They have made the Ford Firestone tire recall catastrophe look like a mere firecracker in the plumbing. Even Enron, in the rearview mirror, looks like a mild case of the flu.
Read more: http://www.sfgate.com/cgi-bin/blogs/gsindell/detail??blogid=182&entry_id=57101#ixzz0fdTaPROn
http://www.reuters.com/article/idUSTRE6183KG20100209 BEIJING (Reuters) - Senior Chinese military officers have proposed that their country boost defense spending, adjust PLA deployments, and possibly sell some U.S. bonds to punish Washington for its latest round of arms sales to Taiwan.
now we're in trouble when we're told that the economic problems in Greece, Portugal and Spain, the most indebted countries in the euro zone, are likely to remain safely contained in those nations... http://www.nytimes.com/2010/02/07/business/economy/07gret.html
If Greece wants to avoid an Argentine-style meltdown, it needs to stay clear of the restructurings and IMF programmes... http://www.guardian.co.uk/commentisfree/2010/feb/07/greece-default-debt-eu/print
http://www.easternshoretoyota.com/articles/est-toyota-recall-accelerator-pedal.cfm It is no secret that Toyota has encountered massive media attention over the past few weeks with the release of a temporary suspension to a line of their selected vehicles due to a "sticking accelerator pedal" recall. The announcement, on January 21, 2010, launched a mission by the Toyota Motor Corporation to cease manufacturing and suspend sales pending further investigation and remedy to the problem. With daily updates and continuing press releases flying through the airwaves, Toyota Motor Corp. is making an amazing effort to provide assistance, updates and information to the consumer on this pedal flaw.
In the Google era, how do you manage a product recall and a public-relations fiasco? Don't do what Toyota's done.
http://www.theatlanticwire.com/opinions/view/opinion/Americas-Most-Expensive-Real-Estate-Deal-Goes-Bust-2293 It's official: the biggest real estate deal of all time has gone bust. Tishman Speyer Properties and Black Rock Realty have surrendered Stuyvesant Town and Peter Cooper village, two sprawling Manhattan housing complexes they bought for $5.4 billion for in 2006. This comes as no surprise to residents, real-estate watchers, and economists who have been awaiting the implosion of plans to turn the rent-stabilized haven for middle-class New Yorkers into another condo complex for young investment bankers.
http://banktech.com/management-strategies/showArticle.jhtml;jsessionid=E5QHIGBXVT0AJQE1GHPSKH4ATMY32JVN?articleID=222400245&_requestid=415282 Goldman to Pay Staff "Restrained" $16.2 Billion
http://en.wikipedia.org/wiki/Jacob_A._Frenkel
Jacob Aharon Frenkel (Hebrew: יעקב אהרן פרנקל; born in 1943) is an Israeli economist and businessman. A former Governor of the Bank of Israel, Frenkel currently serves as Chairman of JPMorgan Chase International, which executes the international strategy of the American financial services firm.[1]
http://en.wikipedia.org/wiki/Paul_Volcker
Paul Adolph Volcker (born September 5, 1927) is an American economist. He was the Chairman of the Federal Reserve under United States Presidents
Jimmy Carter and Ronald Reagan (from August 1979 to August 1987). He is currently chairman of the newly formed Economic Recovery Advisory Board under President Barack Obama.[2]
An 80-page report produced by Volcker and Jacob Frenkel (former Bank of Israel governor) and released in January 2009 called for a clear separation between investment banking activities (like lending to hedge funds) and normal commercial banking.
The G30 wanted a more robust resolution regime which made it easier to close down big financial institutions. It also wanted a regulatory regime where the central banks have 'the authority and capacity' to deal with financial stability-Clearly, Volcker et al had little-time for the kind of split in regulation which Alistair Darling and the Treasury are seeking to renew with their banking reforms.
It is in the nature of the American system that the White House proposes and Congress legislates. On banking reform there is a clear common cause between a President, after the setback in Massachusetts, and members of the House and Senate who will be up for election in November.
Banks are deeply unpopular and measures to separate the Wall Street titans from their bonuses, and the commercial banks from their risk taking and speculation will have widespread support.
When Mervyn King suggested similar reforms last October Angela Knight, of the British Bankers' Association, said the 'key issue was not one of breaking up the banks'.
The momentum has significantly shifted and this was to be seen on the stock market in latest trading where Barclays - which would have most to lose from separation - fell 6pc, dragging the sector down.
The Rubicon has been crossed and the complacency of the banks has been punctured.
Read more: http://www.dailymail.co.uk/money/article-1245399/ALEX-BRUMMER-Volcker-artillery.html#ixzz0dOx642id
http://news.yahoo.com/s/ap/20100120/ap_on_bi_ge/us_congress_debt_limit_11 The unpopular legislation is needed to allow the federal government to issue bonds to fund programs and prevent a first-time default on obligations. It promises to be a challenging debate for Democrats, who, as the party in power, hold the responsibility for passing the legislation.
http://www.ft.com/cms/s/0/22f1bd26-05db-11df-8c97-00144feabdc0.html?nclick_check=1
https://creditexpirationclassaction.com/
Plaintiffs Holly Barker and Brian Carness have filed lawsuits against defendants Skype Communications, S.a.r.l. ("Skype Communications"), Skype Technologies S.A., Skype, Inc. and eBay Inc., on its own behalf and as successor by merger to Skype Delaware Holdings, Inc. (collectively, the "Defendants") challenging the Skype Credit expiration policy. Plaintiffs allege that Skype User Accounts and Skype Credit constitute "gift certificates" that cannot expire or be subject to inactivity fees under various states' laws and that Defendants unlawfully applied the Skype Credit expiration policy against their Skype Credit balances after 180 days of inactivity in supposed violation of these various states' laws, including applicable "gift certificate," consumer protection and/or unfair and deceptive practices laws.
Defendants deny that they did anything wrong whatsoever, and contend that plaintiffs' claims are meritless. No court has decided which side is right, and both sides have agreed to resolve the cases and provide relief to the Settlement Class instead of litigation. There is a proposed settlement on behalf of a nationwide class of current and former United States resident purchasers of Skype Credit from Skype Communications, which, if approved, will provide that Skype Communications shall discontinue its Skype Credit expiration policy and implement a Reactivation Policy whereby Skype Credit will no longer expire after 180 days of inactivity, but rather be deemed "inactive" and subject to reactivation. In addition, Skype Communications, on behalf of itself and the other Defendants, has agreed to pay a Settlement Amount of $1,850,000 in full and complete settlement of the Released Claims, which shall include: (i) attorneys' fees and costs and named plaintiffs' incentive awards not to exceed $1,000 each, which collectively shall not exceed 25% of the Settlement Amount subject to Court approval; and (ii) availability, on a claims made basis, of an electronic voucher for $4.00 of Skype Credit per claimant from the Net Settlement Amount.
Arctic permafrost leaking methane at record levels, figures show Guardian (hat tip reader John D)
FCIC hearings must shatter the 'sociopathic nature' of Wall Street Rob Johnson, New Deal 2.0
Europe cannot afford a Greek default Simon Tilford Financial Times (hat tip Swedish Lex)
So what are banks for, anyway? Marshall Auerback, New Deal 2.0
It's Not About Interest Rates Yet Tim Duy
Google vs. CCP: All the possible WHYs Chinayouren (hat tip Michael T) and Google's fight: US-China lock horns Sydney Morning Herald (hat tip reader Crocodile Chuck)
UK banks face $10bn bill from US over bailouts Times Online (hat tip Swedish Lex)
Reply to Krasting's reply to Coberly's reply to Krasting Dale Coberly Angry Bear
Why are we letting Wall Street off so easy? Joseph Stiglitz, Mother Jones (hat tip reader John D). Why is Stiglitz having to say this in Mother Jones?
Proof of Martians 'to come this year' Scientific American.
Scanners aren't the solution Josh Fulton
Groups ask U.S. to regulate shipping of commercial bumblebees Washington Post (hat tip reader John D)
The Sky Is Falling Before Schedule. Again Dale Coberly, Angry Bear and I'm No Chicken Little Bruce Krasting. A running slugfest dialogue about Social Security. Bruce has the latest salvo; I'll link to any update from Angry Bear.
Rehn to propose economic 'high representative' EurActiv (hat tip reader Swedish Lex)
If you could write a song about the financial meltdown, what would you say? Tim Solanic
The future of Tim Geithner James Pethokoukis
Too Big Too Fail Tax Barry Ritholtz. Far from the first argument along these lines, but Barry, as always, is colorful
John Paulson's high-risk hubris Felix Salmon. High time SOMEONE is saying this! I just wish he had been even more pointed
The Carter Syndrome Walter Mead, Foreign Policy
http://www.ft.com/cms/s/0/1c13f7f2-fe16-11de-9340-00144feab49a.html ...Chinese banks have cemented their position as the most highly valued financial institutions, taking four of the top five slots in a ranking of banks' share prices as a multiple of their book values.
http://www.bloomberg.com/apps/news?pid=20601087&sid=adDyiqWUZXuQ&pos=3 Dollar Falls Most Since November on Surprise Payrolls Drop
http://www.commodityonline.com/futures-trading/currency/Malaysia-c-bank-warns-against-forex-fraudsters-3660-2.html Malaysia's central bank, Bank Negara Malaysia has advised the public to not participate in any illegal investment or training programme on foreign currency trading offered by individuals or companies.
In a statement here on Monday, it said members of the public are usually enticed to attend such investment or training programmes with promises of quick and good returns.
World Financial Crisis Links
China Becomes World's Bigger Gold Buyer
Goldman Sachs To Give Employees 23 Billion In Bonuses
Third Bailout For GMAC With Another $3.8b
Arabia Takes The New Silk Road To China
2010 - China Continues Its Unstoppable Economic Charge
UK Plans 'Greenwash New Deal' To Refloat Economy
Bankers Get Potential $4 Trillion
Eurozone Credit Contraction Accelerates
'Carousel' Frauds Plague Euro Carbon Trading Markets
Rusal First Russian Company To List On HK Exchange
The Economic 'Experts' Who Stopped Making Sense
Banks Accused Of Profiteering In 2009
Taxpayers Hit Harder As Bank Shares Nosedive
20 Million In US Got Unemployment Checks In 2009
G. Edward Griffin Discusses The Fed - Vid
http://www.usatoday.com/money/economy/employment/2009-12-29-laid-off-executives_N.htm HILLSBOROUGH, N.J. — As chief financial officer of a top New York advertising agency, Jeff Boose boasted annual pay exceeding $400,000, a spacious office and a lifestyle to match.
Boose and his family live in a sprawling house in this affluent suburb, belonged to a country club and took numerous lavish vacations each year.
But since he was laid off in late summer 2008, they've made a head-spinning pivot. It's no surprise the country club membership, the vacations and a Volvo sport-utility are history. More tellingly, the Booses question every dollar they spend, sometimes eating pancakes for dinner and borrowing from their parents to pay the bills.
