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November 9, 2012
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  Top Story 
  Industry Update 
  • Regulators cool to industry's money funds plan
    Federal regulators are not bowled over by the money market industry's proposal to head off government-imposed rules. The industry has suggested a fee for those who withdraw money during a crisis. The Securities and Exchange Commission fears it could trigger bank runs and that the measure could do more to protect investors. The Wall Street Journal (11/8) LinkedInFacebookTwitterEmail this Story
  • Warren might land on Senate banking committee
    U.S. Sen.-elect Elizabeth Warren, D-Mass., has a good chance of securing a seat on the Senate banking committee, senior Senate Democratic aides say. It is rare for a freshman senator to get such a highly coveted spot, but Warren is seen as a logical fit. "The leadership and committee chairmen usually work together to try to accommodate incoming senators' preferences, within reason," an aide said. "If Sen.-elect Warren indicates she'd like to serve on the banking committee, given her prominent work on those issues, she would certainly have a very good shot." Reuters (11/8) LinkedInFacebookTwitterEmail this Story
 
  New York Focus 
  • Cities hit by Sandy might face higher borrowing costs
    The damage caused by last week's Superstorm Sandy is drawing investors' attention to the financial condition of some local governments in the Northeast, particularly those with debt maturing within a year or less. More than two dozen communities in Connecticut, New Jersey, New York could see their borrowing costs go up. The Wall Street Journal (11/8) LinkedInFacebookTwitterEmail this Story
  • Mayor Bloomberg orders gas rationing
    New York Mayor Michael Bloomberg said gasoline rationing will be imposed within the city in an effort to help motorists deal with the persistent shortage of fuel. Gas will be sold to cars with even-numbered license plates on even days and to cars with odd-numbered plates on odd days. Plates ending with letters will be considered odd-numbered. The New York Times (tiered subscription model) (11/8) LinkedInFacebookTwitterEmail this Story
  • Commentary: Superstorm Sandy could affect carbon policy
    The devastation Superstorm Sandy inflicted upon Wall Street could affect the U.S. government's policies on climate change and carbon emissions, Tina Rosenberg writes. "Just three days after Sandy hit, Mayor Michael Bloomberg decided to make it the focus of his endorsement of President [Barack] Obama," she noted. "All of a sudden, climate change was the phrase of the day: New York’s governor, Andrew Cuomo, and Senator Charles Schumer and former President Bill Clinton were all talking about it." The New York Times (tiered subscription model)/Opinionator blog (11/7) LinkedInFacebookTwitterEmail this Story
  On The Economy 
  • World needs Obama to make a good budget deal
    The most important challenge that re-elected President Barack Obama faces is concluding a bipartisan compromise to prevent the U.S. from going over the "fiscal cliff," according to The Economist. "A budget deal would act as a reminder that democracy works, especially at a time when China is changing its leadership in a more dictatorial way," the magazine notes. "The alternative, of four more years of angry stasis, would do America, and the world, huge damage." The Economist (11/10) LinkedInFacebookTwitterEmail this Story
 
  Financial Products 
  • Radiance aims to launch actively managed equity ETF
    Radiance Asset Management and U.S. Bancorp filed with the Securities and Exchange Commission to market an actively managed exchange-traded fund that would invest in U.S. companies with growth potential. The Domestic Equity ETF would be authorized to invest in equities, other ETFs, common stocks, preferred shares, convertible debt and equity interests in partnerships, joint ventures and trusts. IndexUniverse.com (11/8) LinkedInFacebookTwitterEmail this Story
  SmartQuote 
A man who does not read good books has no advantage over the man who can’t read them."
--Mark Twain,
American writer


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