Friday, May 21, 2010

Crude Oil, Metals Suffer Meltdown Amid Investor Concern

An ugly week for commodities

May 21 (Bloomberg) -- Bloomberg's Sara Eisen reports on the performance of commodities this week. (Source: Bloomberg)


Scotia's Sutton Sees Euro Falling to $1.18 in Short Term

Scotia's Sutton Sees Euro Falling to $1.18 in Short Term

May 21, 2010May 21 (Bloomberg) -- Camilla Sutton, director of foreign exchange at Scotia Capital Inc., talks with Bloomberg's Julie Hyman and Mark Crumpton about the outlook for the euro. Sutton also discusses the Canadian dollar and emerging markets. (Source: Bloomberg)

French, German Divisions Top Concerns for Euro Stability

May 21 (Bloomberg) -- Bloomberg's Eric Coleman reports on divisions in the European Union over the costs of helping fellow member states pay off their budget deficits to defend the euro.


U.S. Stocks Rebound From Biggest Decline in a Year

May 21 (Bloomberg) -- Bloomberg's Deborah Kostroun reports on the performance of the U.S. equity market today. U.S. stocks rose, rebounding from the markets biggest drop in a year, as investors speculated equities may have fallen too much this week on concern about Europes debt crisis. Bloomberg's Pimm Fox also speaks. (Source: Bloomberg)

Bob Chapman on Goldman Sachs proprietary trading


"Goldman Sachs is ceasing proprietary trading in one type of structured debt. A group of traders who were focused on making bets on collateralized loan obligations with the New York-based firm’s own money are now handling trades for clients.
Morgan Stanley Chief Executive Officer James Gorman denied allegations the U.S. bank misled investors about mortgage derivatives it sold them. The firm is being probed by U.S. prosecutors over whether the bank misled clients when it sold them collateralized debt obligations as its own traders bet that the value of the securities would drop. Wall Street firms are facing unprecedented scrutiny from lawmakers and prosecutors over whether they mis-sold CDOs linked to the subprime mortgages that caused the credit crisis.
The fallout from the European debt crisis raises the risk of a ‘double dip’ recession for the global economy, said Stephen Roach, chairman of Morgan Stanley Asia Ltd. ‘When you have a vulnerable post-crisis economic recovery and crises reverberating in the aftermath of that, you have some very serious risks to the global business cycle,’ Roach said. This concept of the global double dip which no one wants to talk about is alive and well." extract from the International forecaster of 19 May 2010

Oil Leak The Greatest environmental catastrophe in the history of the United States

Oil Leak Estimate Dead Wrong; View Live Feed


A live video feed that shows the oil gushing from the blown-out well in the Gulf of Mexico is now available online. Congressman Ed Markey of Massachusetts pushed BP to make the video available to the public. Live video feed available to public oil spill gulf of mexico congressman ed Markey Massachusetts BP dispersants epa florida keys gulf stream Louisiana Alabama
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