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September 5, 2012
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Daily newsletter from NYSSA for investment professionals

  Top Story 
  • Assessing litigation claims' effect on banks can be tricky
    Big banks don't have to say how much they have set aside to pay lawsuit claims, making it difficult for investors to tell how much a huge settlement would affect a company's finances. For example, Citigroup recently announced that it will pay $590 million to resolve litigation, but the market's reaction was subdued. The Wall Street Journal (9/4) LinkedInFacebookTwitterEmail this Story
  Industry Update 
  • Congress needs to address nation's malaise, el-Erian says
    Mohamed el-Erian, CEO and co-CIO of Pimco, suggests, through an imagined letter from concerned citizens to lawmakers, that Americans don't expect Congress to resolve the country's issues overnight. Instead, they want lawmakers to "overcome a prolonged period of congressional paralysis and polarization in order to address the country's malaise," el-Erian writes. The Guardian (London)/Economics blog (9/4) LinkedInFacebookTwitterEmail this Story
  • Group drafts guidelines for auditing banks' rate estimates
    Audits of banks' interest-rate estimates might be in store as the Institute of Chartered Accountants in England and Wales, a global accounting body in London, draws up guidelines for restoring confidence as concerns remain about setting the London Interbank Offered Rate. Iain Coke, the institute's head of financial services, said banks likely will either face regulations requiring external audits or voluntarily introduce them to build confidence. Reuters (9/4) LinkedInFacebookTwitterEmail this Story
  • Deutsche Bank's tradable index tracks U.S. core inflation
    Deutsche Bank on Tuesday rolled out the first tradable index based on U.S. core inflation. There is an expectation that the Federal Reserve will decide to exercise more stimulus measures, which will make inflation-protected products that much more in demand. "It makes sense to look at core inflation because it's a better reflection of persistent underlying inflation, and accordingly something the Fed focuses on," said Deutsche Bank's Allan Levin. Reuters (9/4) LinkedInFacebookTwitterEmail this Story
  New York Focus 
  • Booker calls for growth, inclusion in DNC speech
    In a speech presenting the Democratic Party's platform, Newark, N.J., Mayor Cory Booker delivered a rousing speech that repeatedly brought the delegates to their feet. "This platform is a clear choice between economic pathways. Forward or back -- inclusion or exclusion -- grow together as a nation or be a country of savage disparities that favor the fortunate few over the greatest driving force of any economy -- a large and robust middle class," he said. The Star-Ledger (Newark, N.J.) (9/4) LinkedInFacebookTwitterEmail this Story
  • N.Y. mayoral candidates campaign at Democratic Convention
    The politicians maneuvering in preparation for campaigns to be New York's next mayor are taking advantage of the high concentration of fellow politicians, activists and contributors at the Democratic National Convention in Charlotte, N.C. "This is a chance to actually see more New Yorkers in one place and catch up on a series of issues in a way you literally could never do anywhere in New York City," said Public Advocate Bill de Blasio, who is planning his own campaign for the mayor's office. The Wall Street Journal (9/4) LinkedInFacebookTwitterEmail this Story
  Career Development 
  • How collaboration makes companies more efficient
    Collaborative leadership is important to reducing organizational waste, write Ron Ricci and Carl Wiese. A culture of collaboration helps to ensure that individual managers don't hoard resources, helping the company as a whole to operate more efficiently. "By unlocking these trapped resources, organizations can more quickly and successfully pursue emerging market opportunities," Ricci and Wiese write. Strategy+Business online (free registration) (9/3) LinkedInFacebookTwitterEmail this Story
  On The Economy 
  Financial Products 
  Featured Content 

  NYSSA News 
  • Excel Fundamentals for the Finance Professional -- In-Person and Online
    Before you can crunch data and build effective models, you need to master the basics of Excel. Focusing on the essential features in Excel will build the skills required to utilize more advanced techniques and leverage the product’s full spectrum of features. This course is scheduled for 9 a.m. to 4 p.m. EDT Oct. 2. LinkedInFacebookTwitterEmail this Story
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--George Allen,
American football coach

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