rcwhalen's blog

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The Fed has never met a large bank merger that it did not like and has never been willing to deny such an application by a bank holding company, especialy a BHC that houses a primary dealer. 

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The departure of Vikram Pandit as CEO of Citigroup (C) should come as a relief to the markets, regulators and customers – indeed, just about everybody besides the volatility junkies who like to trade this very liquid, very unstable stock.

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Reports that the housing sector is recovering has generated more than a little irrational exuberance among investors regarding financials. 

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The consensus view of China is that the country is imploding due to the collapse of the export sector.  Such arguments make sense.  But they may also be dead wrong. 

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Without justice for investors, pension funds and banks defrauded to the tune of hundreds of billions of dollars, there can be no investor confidence to support private finance.