"Many People on Wall Street Knew" Bernie Was a Crook, Madoff Author Says

"Many People on Wall Street Knew" Bernie Was a Crook, Madoff Author Says

Roubini: New Regulations "Go in the Right Direction," But Not Far Enough

Roubini: New Regulations "Go in the Right Direction," But Not Far Enough

The new Wall Street regulations announced by President Obama yesterday "go in the right direction" but only accomplish about "75% of what needs to be done," says Nouriel Roubini, professor at NYU's Stern School and chairman of RGE Monitor.

For example, making the Fed the systemic risk regulator makes sense from an institutional standpoint, "but have to have individuals committed to making sure the systemic risks are controlled," Roubini says, recalling the Greenspan Fed had the power -- but not the will -- to regulate mortgage lending during the housing boom.

"They allowed all this toxic underwriting because they did not believe in supervision," he says of the Greenspan Fed. "They were in favor of any kind of financial 'innovation'."
http://finance.yahoo.com/tech-ticker/article/266396/Roubini-New-Regulations-%22Go-in-the-Right-Direction%22-But-Not-Far-Enough?tickers=XLF,FAS,FAZ,SKF,AIG,BAC,JPM

Nouriel Roubini's Three Reasons Why Stocks Are Bound to Fall

US stock futures soar on fewer job losses

US stock futures soar on fewer job losses
Wall Street heads to higher open as report says employers cut fewer-than-expected jobs in May

NEW YORK (AP) -- U.S. stock futures surged Friday as investors cheered a government report that said employers cut fewer jobs than expected last month.

The Labor Department said 345,000 jobs were lost in May, significantly less than the half-million job losses economists had been expecting and the fewest job losses since September.

However, the unemployment rate surged to a slightly higher-than-expected 9.4 percent from 8.9 percent in April, proving that companies are still reluctant to hire back laid off workers.
But investors looked beyond the higher unemployment rate and instead took the slower pace of layoffs for a fourth month in a row as a sign that unemployment is stabilizing.

Unemployment has been one of the most closely watched gauges of the economy's health throughout the recession. Rising job losses affect vast areas of the economy, including consumer spending, retail sales and the housing market.

Ahead of the market's open, Dow Jones industrial average futures rose 113, or 1.3 percent, to 8,843, after being up about 33 points prior to the report. Standard & Poor's 500 index futures jumped 13.70, or 1.5 percent, to 954.20, while Nasdaq 100 index futures gained 14.25, or 1.0 percent, to 1,507.25.

Bet on Wall Street hyping a recovery, big earnings, new bull in 2009

10 clues: A new bubble is blowing
Bet on Wall Street hyping a recovery, big earnings, new bull in 2009

10 clues from PAUL B. FARRELL is an entertaining and challenging article. Worth reading and sifting through, to be informed before the next bubble (Art?) bursts.

ARROYO GRANDE, Calif. (MarketWatch) -- No bottom yet? No problem! Wall Street needs another bull, is already secretly blowing a newer, bigger bubble. How do we know? Simple. They're bubble-blowers by nature. It's locked in their DNA, controls their brain waves. It's the divine spark that guides their destiny and America's too.

Wall Street's year in turmoil

Wall Street's year in turmoil (Reuters Video, 03:47 Report)
Dec 30 - 2008 was a roller coaster ride of bad news leaving investors bracing themselves for what's next.
2008 went from bad to worse. The housing crisis led to a devastating credit freeze that spread to the banks and eventually infected the entire U.S. financial system, crushing confidence in the U.S. economy.