Breaking News Real Time News items

• LEH files chapter 11 Re-Org w/ Bankruptcy CourtPosted:15/03/2010 21:06 GMT by NeedToKnowNews
• VP Biden in Cinnci, OH - You are going to see NET PLUS JOBS THIS QUARTER - White House Pool ReportPosted:15/03/2010 21:02 GMT by NeedToKnowNews
• Toyota finds California Man's Prius story ......unlikely...Posted:15/03/2010 20:34 GMT by NeedToKnowNews
  Toyota engineers believe that it would be extremely difficult for the Prius to be driven at a continuous high speed with more than light brake-pedal pressure, and that the assertion that the vehicle could not be stopped with the brakes is fundamentally inconsistent with basic vehicle design and the investigation observations. Full story here
• Obama sees Dodd Bill as strengthening the FED's oversight of the largest financial firmsPosted:15/03/2010 19:59 GMT by NeedToKnowNews
• President Obama says pay day loan firms, debt collectors cannot be excluded from Consumer Financail Protection oversightPosted:15/03/2010 19:58 GMT by NeedToKnowNews
• President Obama will work with Senate to strengthen Financial Regulation....will fight off attempts to weaken legislationPosted:15/03/2010 19:57 GMT by NeedToKnowNews
• President Obama pleased that Volcker Rule is in Dodd Legislative ProposalPosted:15/03/2010 19:56 GMT by NeedToKnowNews
• Dodd - we have 60 -70 days in this Congress; not many days to get job done; there is a sense of urgencyPosted:15/03/2010 19:17 GMT by NeedToKnowNews
• Dodd - my hope is Democrats on Senate Banking will support the bill; 1/4 of Senate sits on CmtePosted:15/03/2010 19:16 GMT by NeedToKnowNews
• Dodd leaves door open for more input from Senator ShelbyPosted:15/03/2010 19:15 GMT by NeedToKnowNews
• Dodd - "hotel california" provision will keep firms from escaping FED oversightPosted:15/03/2010 19:14 GMT by NeedToKnowNews
  Dodd - "hotel california" provision will keep firms from escaping FED oversight
• Dodd - FED will have no authority over Consumer Protection Agency...they will have no budgetary say..the CFP will be independent of the FEDPosted:15/03/2010 19:13 GMT by NeedToKnowNews
• Dodd - bill aims at getting back to 'core functions'Posted:15/03/2010 19:11 GMT by NeedToKnowNews
• Dodd - GS, MS will not be able to back out of Bank Holding Co status to avoid regulationPosted:15/03/2010 19:10 GMT by NeedToKnowNews
• Dodd believes this bill...reform of finanical system...will help economyPosted:15/03/2010 19:10 GMT by NeedToKnowNews
• Dodd - non bank fin'l institutions...hedge funds, private equity...others will have Restrictions on Proprietary TradingPosted:15/03/2010 19:08 GMT by NeedToKnowNews
• Dodd sees the root of the Financial Crisis as a lack of Consumer Protection; this bill addresses thatPosted:15/03/2010 19:07 GMT by NeedToKnowNews
• Dodd - apptd by President, confirmed by Senate, funding authority and enforcment will be 4 principles at regulatorsPosted:15/03/2010 19:06 GMT by NeedToKnowNews
• Dodd - President will appoint the head of the Consumer Financial Protection Agency..that person will be confirmed by SenatePosted:15/03/2010 19:05 GMT by NeedToKnowNews
• Dodd - bill does not yet have bipartisan supportPosted:15/03/2010 19:04 GMT by NeedToKnowNews
• Dodd - this bill is to plug in gaps where regulation did not exist; this bill will make Regulators more responsiblePosted:15/03/2010 19:03 GMT by NeedToKnowNews
• Dodd - we will have Financial Reform adopted this year in the United StatesPosted:15/03/2010 19:02 GMT by NeedToKnowNews
• Dodd - we will reign in compensation that causes wild risk takingPosted:15/03/2010 19:00 GMT by NeedToKnowNews
• JPM shaves Charge Off rate to 9.21% from 10.91% in January; Delinquency Rate at 4.67% versus 4.75% in JanuaryPosted:15/03/2010 17:02 GMT by NeedToKnowNews
• Toyota addresses Event Data Recorder issuesPosted:12/03/2010 20:37 GMT by NeedToKnowNews
  ...several models have EDRs that do not record pre-crash data. Therefore, data regarding vehicle speed, engine speed, accelerator angle and brake application is not available in every make and model. However, by the end of 2010, all newly-manufactured Toyota and Lexus vehicles will have EDRs that can record both pre- and post-crash data. Toyota has always provided all data recorded by the EDRs to the National Highway Traffic Safety Administration (NHTSA), law enforcement authorities, and courts when requested or ordered to do so. We provide the authorities with both the raw readout data and a printout of the readout. Contrary to some media reports, Toyota does not deliberately provide printouts of data with key columns left blank. The software used to
• Paul Krugman tells b'berg Yuan policy stunts Global GrowthPosted:12/03/2010 20:01 GMT by NeedToKnowNews
• White House says there are other names under consideration in addition to Yellen, Raskin and DiamondPosted:12/03/2010 19:31 GMT by NeedToKnowNews
• White House says Raskin (MD), Diamond (MIT) under consideration for "other" FED vacanciesPosted:12/03/2010 19:12 GMT by NeedToKnowNews
  White House says Raskin (MD), Diamond (MIT) under consideration for "other" FED vacancies
• LEH comes blasting back into the collective consciousness - Banks are distancing themselves from LEH dealingsPosted:12/03/2010 16:16 GMT by NeedToKnowNews
  Citi said early this morning that they see nothing in the 2000 page LEH post-mortem that worries them. They acted properly - period. Now Jamie Diamond, JPM's CEO, is saying "there's plenty of blame to go around"...not exactly the same thing as "we did nothing wrong". More than that, Dimon sees the need for regulatory overhaul...this is akin to ..'if we did something wrong, it's due to the regulation issues'. Dimon goes further, casting JPM as having itself been in a precarious position in 2008 which may be leading to ..'it was us or them, there were no regulations specifically against it..so we took the shot'. In fact, Dimon says, banks back "70 to 80%" of consumer protection proposals..and not only that, JPM is lending money. On the implicit govt guarantee of TBTF firms..he says banks should be allowed to fail. The LEH report is bound to inspire this ..'not our fault, we're all good now' talk from alot of CEOs that fear the LEH autopsy may lead to assigning blame.
• U Mich Current Conditions 80.8 vs 81.8 in FEBPosted:12/03/2010 14:44 GMT by NeedToKnowNews
• U Mich Consumer Expectations for March 67.2 vs 68.4 in FEBPosted:12/03/2010 14:43 GMT by NeedToKnowNews
• University of Michigan Consumer Confidence 72.5Posted:12/03/2010 14:41 GMT by NeedToKnowNews
• EUREX mulling 2nd U.S. based Options platformPosted:12/03/2010 14:33 GMT by NeedToKnowNews
• Pandit says their TRUPS (Trusts Preferred) not related to U.S. Citi ownership stakePosted:11/03/2010 18:22 GMT by NeedToKnowNews
• Dodd - Administration "cares deeply" about this Financial Regulation billPosted:11/03/2010 18:18 GMT by NeedToKnowNews
  Dodd - Administration "cares deeply" about this Financial Regulation bill
• Dodd does not buy that notion that no one saw the Financial Crisis ComingPosted:11/03/2010 18:17 GMT by NeedToKnowNews
• Dodd to speak at 1:20pm this afternoon on Financial RegulationPosted:11/03/2010 17:53 GMT by NeedToKnowNews
• President Obama praises Tsy Sec Geithner's work w/G-20; expresses confidence Tsy Sec will continue efforts re rebalancing global demandPosted:11/03/2010 15:02 GMT by NeedToKnowNews
• President Obama - China move to more market-oriented exchange rate would make essential contribution to global rebalanceing effortPosted:11/03/2010 15:00 GMT by NeedToKnowNews
• President Obama - need to rebalance; economies w/ external surpluses need to boost conusmption, domestic demand; w/ external deficits need to save, export morePosted:11/03/2010 14:57 GMT by NeedToKnowNews
• Geithner on the Hill - business credit much more accessiblePosted:10/03/2010 19:25 GMT by NeedToKnowNews
• Little Equity or Bond market reaction to 17th straight month of Treasury Budget deficit; Dow Futures down 8; 10yr off 6 ticks basis MarchPosted:10/03/2010 18:52 GMT by NeedToKnowNews
• Senator Corker - FED did terrible job of protecting Consumers - regulation panel remarksPosted:10/03/2010 13:53 GMT by NeedToKnowNews
• Toyota says WSJ recall of Prius over Floormats Incorrect - link belowPosted:09/03/2010 20:43 GMT by NeedToKnowNews
  link text
• PM Papandreou says G-20 will address "speculation"Posted:09/03/2010 19:49 GMT by NeedToKnowNews
  PM Papandreou says G-20 will address "speculation"
• Greek PM speaking outside White House, post Obama meeting - PM says he spoke with President Obama regarding European attempts to deal with regulationPosted:09/03/2010 19:44 GMT by NeedToKnowNews
• Barclays seeking another acquisition according to WSJ; looking for deposits, expansion of BARCAP; Western Europe is hunting ground, not U.S. firmPosted:09/03/2010 18:17 GMT by NeedToKnowNews
• EU's Barroso proposes discussion of CDS on Sovereign Debt at next G-20 meetingPosted:09/03/2010 14:25 GMT by NeedToKnowNews
  Greek PM Papandreou will speak with President Obama today and discuss both the situation in Greece and regulation of derivatives markets.
• Papandreou at Brookings admits Greece has hit bottom, saying now is the time to implement changesPosted:08/03/2010 16:41 GMT by NeedToKnowNews
• Greek PM calls CDS "scourge" that threatens Greece, all of Europe" - CNBCPosted:08/03/2010 15:23 GMT by NeedToKnowNews
  Greek PM calls CDS "scourge" that threatens Greece, all of Europe" - CNBC
• White House - no decisions taken on FED nominationsPosted:08/03/2010 15:16 GMT by NeedToKnowNews
• White House will make FED nominations by the June DeadlinePosted:08/03/2010 15:16 GMT by NeedToKnowNews
• Merkel says "we" want to contain CDS; Eurozone Econ development should be harmonisedPosted:05/03/2010 18:07 GMT by NeedToKnowNews
  Merkel says "we" want to contain CDS; Eurozone Econ development should be harmonised
• Pandit - focus on core banking business ....means shrinking loans are due to shrinking of non-core businessesPosted:04/03/2010 16:34 GMT by NeedToKnowNews
• Citi - Pandit - we do business w/ alot of sovereign countries; we have been doing business w Greece but it's not a meaningful amountPosted:04/03/2010 16:23 GMT by NeedToKnowNews
• Hoenig - need leverage rulesPosted:02/03/2010 19:10 GMT by NeedToKnowNews
• Hoenig - unwinding of leverage did contribute to financial crisisPosted:02/03/2010 19:10 GMT by NeedToKnowNews
• Hoenig - have to consider Volcker RulePosted:02/03/2010 19:09 GMT by NeedToKnowNews
• Japan issue local tsunami wanrings; waves expected on Okinawa, Anami, Tokara IslandsPosted:26/02/2010 20:59 GMT by NeedToKnowNews
• USGS - 7.3 Quake off Japanese coastPosted:26/02/2010 20:24 GMT by NeedToKnowNews
• White House says Obama will lay out "way forward" on Healthcare next weekPosted:26/02/2010 20:18 GMT by NeedToKnowNews
  White House says Obama will lay out "way forward" on Healthcare next week
• NY Gov Patterson "being realistic about politics" ; he's ending guber campaign..says he can't run for office and run state at same timePosted:26/02/2010 20:02 GMT by NeedToKnowNews
  NY Gov Patterson "being realistic about politics" ; he's ending guber campaign..says he can't run for office and run state at same time
• Dodd - legislation will not include Volcker Rule but will allow for agencies to enforce Volcker Rules at their discretion - b;berg tvPosted:26/02/2010 19:50 GMT by NeedToKnowNews
• NAPM- Milwaukee at 56, unchanged from prior readingPosted:26/02/2010 14:46 GMT by NeedToKnowNews
• Senator Shelby: Consumer Protection Agency is probably the last sticking point in fin'l reform billPosted:25/02/2010 16:32 GMT by NeedToKnowNews
• Sebellius invites AET, CI, WLP, UNH CEOs to meeting on March 3, 2010Posted:24/02/2010 20:31 GMT by NeedToKnowNews
• SEC delays plan to allow US companies to use international accounting standards to 2015 from 2014Posted:24/02/2010 16:55 GMT by NeedToKnowNews
• CFTC is fining UBS $130k for exceeding natgas, heating oil, and platinum futures limitsPosted:24/02/2010 16:50 GMT by NeedToKnowNews
• Bernanke - there's no silver bullet to create jobsPosted:24/02/2010 16:23 GMT by NeedToKnowNews
• Bernanke - TARP money was to stabilize banks and help w/ lending; Congress has stimitized banks that got TARP funds so they paid back the TARP funds...so TARP funds are not available for lendingPosted:24/02/2010 16:22 GMT by NeedToKnowNews
• S&P corrects Seasonally Adjusted National 2009 Q4 to Q3 change from up 1.6% to up 0.3% and NSA 2009 Q3 from Q2 from 3.3% to 2.2%Posted:23/02/2010 16:31 GMT by NeedToKnowNews
  S&P corrects Seasonally Adjusted National 2009 Q4 to Q3 change from up 1.6% to up 0.3% and NSA 2009 Q3 from Q2 from 3.3% to 2.2%
• NY FED UPDATES information on Frequency of GSE Purchases; A/O FEB 23, Purchases will be ONCE every 2 wks - "to promote a smooth transition in markets"Posted:23/02/2010 16:07 GMT by NeedToKnowNews
  NY FED UPDATES information on Frequency of GSE Purchases; A/O FEB 23, Purchases will be ONCE every 2 wks - "to promote a smooth transition in markets"
• White House on Job Creation bill, amendmentPosted:22/02/2010 20:50 GMT by NeedToKnowNews
  The Administration strongly supports Senate passage of the Reid Amendment to H.R. 2847 as one important step forward in the ongoing effort to help put Americans back to work. The amendment includes several of the Administration
• Senator Dodd sends letter to regulators asking for report on CRE weakness, says issues require prompt responsePosted:22/02/2010 19:40 GMT by NeedToKnowNews
• WMT to buy Vudu, online movie service --NY TimesPosted:22/02/2010 18:29 GMT by NeedToKnowNews