"There is light at the end of the tunnel, but it is still rather dim"
Investors know that those willing to make big bets as stock markets show signs of bottoming out after big declines can make outsized returns. via Dubuque Telegraph Herald
"The financial industry blew it, did not exercise any restraint, and now the financial system is at risk"
While Wall Street faces the biggest overhaul of its regulatory structure since the Great Depression, analysts are already wondering if the plan to be announced by Treasury Secretary Henry Paulson on Monday would help prevent the kind of risky investments that led to the near-collapse of Bear Stearns Cos.
The plan maps out a course for broader oversight of the nation's financial markets by consolidating power into the Federal Reserve. It will eliminate overlapping state and federal regulators and give the central bank an expanded role in looking at the books of investment banks and brokerages. Read more
"We saw the US dollar perform okay and the yen strengthen while we saw high-yield currencies come under heavy pressure"
THE dollar has opened the week lower after high yielding currencies were sold off after Friday's local session closed. via News.com.au
"We were told all of our lives, 'Don't go in the river. Don't touch it. Stay away.' Now, we have the city on board. It's a big change"
Parks officials hoping to promote public access to one of the city's least-used recreational zones - its waterways - have created its first formal network of kayak and canoe launches. via Monterey County Herald
"If you start seeing deterioration in employment, it's very, very hard not to have a recession"
By MADLEN READ The Associated Press Sunday, March 30, 2008; 1:40 PM NEW YORK -- Stocks may already be pricing in a recession, but they haven't priced in a very deep one. via Washington Post
US stocks fell overnight as a profit warning from JC Penney raised concerns about slowing consumer spending while persistent worries about credit-related problems throttled financial stocks. via NEWS.com.au
The U.S. dollar was down against the euro but higher against other major currencies in European trading Friday morning. Gold fell in London.
The euro traded at $1.5798, up from $1.5780 late Thursday in New York.
Other dollar rates:
_100.01 Japanese yen, up from 100.00
_0.9951 Swiss francs, up from 0.9949
_1.0170 Canadian dollars, up from 1.0165
The British pound was quoted at $1.9944, down from $2.0036.
Gold traded in London at $944.50 per troy ounce, down from $945.40 late Thursday. Read more
"It doesn't look good that the Government appears to be sanctioning payouts of this size to someone who played a big role in the bank's demise"
Payoff: Adam Applegarth will collect the full 760,000 if he does not find a new job in the next year The controversial chief executive who led Northern Rock to the brink of collapse has received a 760,000 ... via This Is London
"Basically, what the feds are doing is cutting interest rates aggressively so you have to find higher interest rates elsewhere"
Investing in overseas stocks has been like a whirlwind trip abroad for U.S. investors the past few years. via Medford Mail Tribune
The U.S. investment bank Lehman Brothers Holdings Inc. plans to file a lawsuit against a Japanese trading company to recover hundreds of millions of dollars it lost to alleged investment fraud, a company official said Sunday.
Lehman is seeking to recoup $350 million it loaned to a fund run by a unit of Japanese biotechnology company LTT Bio-Pharma Co., a Lehman official said on condition of anonymity, citing the sensitivity of the case. The funds were secured by the trading company Marubeni Corp. Read more
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