Archive - Mar 2, 2009 - Story

As DJ50 futures are well into 6 handle territory, more bad news out of Asia: HSBC has been suspended from trading in Hong Kong pending the "announcement of a corporate action." MarketWatch claims the announcement is the revelation of the company's pullback from U.S. consumer lending. As no consumer in the U.S. is borrowing currently, this will likely not be a major financial event.

Tonight's late thoughts are again from the pen of one of our favorites, BTIG strategist Mike O'Rourke. Highly recommended reading.

Much has been written about the staggering losses of Saudi Prince Alwaleed Bin-Talal in Citi's common stock. The amount of money he has dropped on Pandit's titanic may have easily funded GM's operations.... for about a day.

Much has been written about the staggering losses of Saudi Prince Alwaleed Bin-Talal in Citi's common stock. The amount of money he has dropped on Pandit's titanic may have easily funded GM's operations.... for about a day.

Much has been written about the staggering losses of Saudi Prince Alwaleed Bin-Talal in Citi's common stock. The amount of money he has dropped on Pandit's titanic may have easily funded GM's operations.... for about a day.

When the execs of the biggest banks came to congress two weeks ago to be on the wrong end of some populist lynching, one of the questions asked was how much money had the banks earned by collecting underwriting fees by issuing FDIC-backed bank bonds, i.e. debt in which there is no risk.

When the execs of the biggest banks came to congress two weeks ago to be on the wrong end of some populist lynching, one of the questions asked was how much money had the banks earned by collecting underwriting fees by issuing FDIC-backed bank bonds, i.e. debt in which there is no risk.

When the execs of the biggest banks came to congress two weeks ago to be on the wrong end of some populist lynching, one of the questions asked was how much money had the banks earned by collecting underwriting fees by issuing FDIC-backed bank bonds, i.e. debt in which there is no risk.

The rapid increase in consumer savings has become a major topic of contention, and could easily be the biggest headwind facing Obama's stimulus package, and the threat to reducing the near $2 trillion upcoming budget deficit.

The rapid increase in consumer savings has become a major topic of contention, and could easily be the biggest headwind facing Obama's stimulus package, and the threat to reducing the near $2 trillion upcoming budget deficit.