Chopshop's picture

Though the Greek push-of-war between the ECB and IMF has been postponed until Wednesday, a new FTSE/ATHEX-CSE Banking index futures contract begins trading on Monday. With the fiscal future of Greece literally hanging in the balance, what could possibly be more fitting in the interim than the launch of a new futures contract containing the words 'Greek' and 'bank' ?

asiablues's picture

Crude futures ended at their lowest point this month Friday, as investors fled riskier assets after regulators charged Goldman Sachs with fraud. Nonetheless, industry insiders are fully expecting this still intact seasonal pattern: a rise in gas prices in the months ahead during the summer driving season (from April 1 to Sept. 30).

Leo Kolivakis's picture

Don't hold your breath on any meaningful financial reform. I know, I am a cynical bastard, but the banksters control the US government, just like they control the Canadian government. It's all smoke & mirrors to appease the masses who are waking up to the fact that the greatest wealth transfer in the history of mankind continues totally unabated.

Chopshop's picture

" in 2007 the liabilities of Barclays exceeded the UK’s GDP, the liabilities of Deutsche Bank stood at 80% of Germany’s GDP, and the liabilities of Fortis were several times larger than the GDP of its home country, Belgium ... such financial institutions may not just be “too big to fail”, but in fact “too big to exist” ... It was irrational to let Lehman Brothers fail, but it happened. Those who bet on that failure earned a substantial amount of money. So why not bet on a possible irrationality of European decision-making? "

asiablues's picture

Although it would seem that the Goldman-linked SEC case single-handedly killed the price of gold, it was only a catalyst to a technical correction that was overdue. Furthermore, gold’s long term outlook is further solidified by a couple of new “China factors.”

Econophile's picture

The Goldman Thing

The SEC is the Administration's hit squad to find a capitalist to scapegoat for the Great Recession. The found one in Goldman Sachs, the arch-capitalist of our time.

George Washington's picture

Goldman Sacked?

Is someone finally standing up to the vampire squids of the world?

Or is this yet another p.r. stunt, where deals will be cut, a few low-level patsies will be convicted, and business as usual will continue?

Only time will tell ...

Leo Kolivakis's picture

The Growing Pension Divide?

Kevin Gaudet, federal director of the Canadian Taxpayers Federation, isn't surprised that there is a growing frustration felt by private-sector workers who must work longer and pay high taxes longer to provide for public- sector workers who work shorter careers and receive significantly better benefits in retirement. But the solution he proposes isn't going to rectify this great inequity - it will only ensure pension poverty for the masses.