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September 10, 2012
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  Top Story 
  • U.S. Treasury plans to sell $18 billion of its AIG stock
    In a surprise move, the U.S. Treasury Department said it will sell $18 billion of shares in American International Group this month, reducing its ownership from 53% to about 20%. The government will become a minority shareholder for the first time since it rescued the company four years ago. AIG said it will buy as much as $5 billion worth of shares in the offering. Reuters (9/10), Bloomberg (9/10) LinkedInFacebookTwitterEmail this Story
  Industry Update 
  • IPO market in U.S. may spring back to life this month
    After an extended summer dry spell, the U.S. market of initial public offerings is showing surprising signs of life. Banco Santander hopes to raise $4.28 billion at the end of this month when it sells a big block of shares in Grupo Financiero Santander Mexico, its Mexican unit, in an offering that is listed in Mexico and on the New York Stock Exchange. At least three smaller IPOs are in the pipeline and set to come to market this month. The Wall Street Journal (9/9) LinkedInFacebookTwitterEmail this Story
  • Uneven capital-market reform creates confusion
    A worldwide push for capital-market reform is uneven, as some countries act, others lag, and investors and bankers are left in the middle dealing with a confusing array of rules, Boyd Erman writes. The uneven playing field pits safer banks in newly regulated regions against banks that face no additional constraints and are more profitable. The Globe and Mail (Toronto) (9/8) LinkedInFacebookTwitterEmail this Story
  • BoE's King leads central bankers' discussion about Libor
    Mervyn King, governor of the Bank of England, led fellow central bankers in a discussion about issues related to the London Interbank Offered Rate. King added Libor to the agenda after Barclays reached a settlement regarding rate manipulation. "The central banks have somehow got to get moral integrity back in the financial system, and King will feel this himself," said Marcus Miller, an economics professor at the University of Warwick. "If you can't trust London to fix the rate, what's the banking system all about?" Bloomberg Businessweek (9/10) LinkedInFacebookTwitterEmail this Story
  • Government needs to get out of securitization
    Amar Bhide, a professor at Tufts University’s Fletcher School of Law and Diplomacy, argues the government has no business being involved in securitization. Bhide discusses the history of securitization and writes government sponsorship of the practice must end in order to fundamentally overhaul the financial system. Bloomberg (9/10) LinkedInFacebookTwitterEmail this Story
 
  New York Focus 
  • Some Wall Street scandals end CEO's career, but some don't
    Many Wall Street executives are allowed to keep their jobs after they are hit by scandal, but some finance executives like Bob Diamond, the CEO of Barclays, are sent packing. Regulators often make the difference. The U.K.'s regulators have been far tougher on executive misconduct than the agencies that oversee Wall Street. Bloomberg (9/9) LinkedInFacebookTwitterEmail this Story
  • Other News
  Career Development 
  • How to deliver a speech like Bill Clinton
    Former President Bill Clinton earned rave reviews for his speech at last week's Democratic convention, but can business leaders learn to deliver a speech like Bubba? Clinton uses multiple techniques to make his public speaking more effective, writes speaking coach Sam Harrison, including carefully judged pauses, expansive body language and subtle facial expressions that complement the words he's saying. Fast Company online (9/6) LinkedInFacebookTwitterEmail this Story
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  SmartQuote 
Spend the afternoon. You can't take it with you."
--Annie Dillard,
American author


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