Posts Tagged ‘U S Treasury’

This Day in Wall Street History 1895: U.S. gold supply running dry

The early 1890s were not kind to America’s gold reserves. The nation’s supplies of the precious metal swooned under the strain of the recently passed Sherman Silver Act as European investors, fearful that America was chucking gold for silver, increasingly sold their gold supplies overseas.

Coupled with declining revenues triggered by various protective tariffs, the reserves plummeted, taking a severe toll on the economy.

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Blackstone Group’s Byron Wien Announces Top Ten Surprises for 2010

Byron R. Wien, Vice Chairman, Blackstone Advisory Services, today issued his list of the Ten Surprises for 2010. This is the 25th year Byron has given his predictions of a number of economic, financial market and political surprises for the coming year. He started the tradition in 1986 when he was the Chief U.S.

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Fed Generates $46.1 Billion Profit in 2009

The Federal Reserve had its biggest bottom line ever in 2009, generating record profits as its holdings of Treasury, mortgaged-backed securities and agency debt grew.

The Fed last year generated a net income of $52.1 billion, of which it paid $46.1 billion to the U.S. Treasury, the Fed said Tuesday.

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SEC Charges Houston Broker Dealer with Defrauding Florida Municipalities

The Securities and Exchange Commission today charged a Houston-based broker with engaging in unauthorized and unsuitable trading on behalf of two Florida municipalities, putting them at risk of losing millions of dollars while he reaped commissions of more than $14 million for himself.

The SEC’s complaint alleges that Harold H.

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Geithner, Brown Split on Tobin Tax at G-20 Meeting

(Bloomberg) — Group of 20 governments split on whether to tax financial trading as part of a broader strategy to ensure the global economy’s expansion is less crisis-prone.

U.K. Prime Minister Gordon Brown told a meeting of finance chiefs in St. Andrews, Scotland yesterday that such a levy could prevent excessive risk taking and fund future bank rescues, adding momentum to a debate begun by France.

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FDIC to Consider Ways to Replenish Deposit Fund

WASHINGTON (Reuters) – U.S. bank regulators are considering tapping a line of credit with the U.S. Treasury Department and may explore other lesser-known options to replenish the dwindling fund that safeguards bank deposits.

Federal Deposit Insurance Corp Chairman Sheila Bair said on Friday that the agency would meet at the end of the month to discuss options to rebuild the fund, which has been significantly drained by a sharp increase in bank failures.

“We are carefully considering all our options, including borrowing from Treasury,” Bair said, referring to the agency’s $500-billion line of credit with the Treasury Department.

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Vanguard registers for seven bond ETFs

Some see filing as a challenge to iShares, as four of the funds would be cheaper
Vanguard today filed a registration statement with the Securities and Exchange Commission to offer seven new bond index exchange traded funds in what some industry experts believe to be a direct challenge to iShares, the dominant fixed-income ETF provider.

Three of the ETFs are expected to invest in U.S.

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CBOE’s Q2 profit up 11%

The Chicago Board Options Exchange said on Thursday second-quarter net income rose 11 percent as increased trading helped offset higher costs.

The largest U.S.

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Upstart ELX adding Morgan Stanley to its battle with CME

ELX Futures is preparing to sign Morgan Stanley to its list of big-name backers as the weeks-old competitor to CME Group Inc.

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U.S. urges EU to ease proposed regulations for hedge funds

The U.S. is quietly wading into the fight between the U.K. and Continental Europe over the strictness of regulations for hedge funds and private-equity firms, said a senior U.S. Treasury official. Hedge funds and private-equity companies that do business in Europe could be required to adhere to tough regulations under the proposals.


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