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February 27, 2013
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  Top News 
  • Fed will stick with bond-buying program, Bernanke says
    The Federal Reserve plans to continue buying bonds at its current pace, Chairman Ben Bernanke said in testimony to the Senate banking committee. The Fed's stimulus efforts aren't creating asset bubbles or raising the risk of inflation, he said. "We do not see the potential costs of the increased risk taking in some financial markets as outweighing the benefits of promoting a stronger economic recovery," Bernanke said. Bloomberg (2/27) LinkedInFacebookTwitterEmail this Story to auction $110 MM in Commercial Properties, the Nation's Leading Online Real Estate Marketplace, are pleased to auction 105 commercial properties nationwide., LLC. 1 Mauchly, Irvine, CA 92618, (800) 499-6199. Visit our site for licensing information and to see more info about our auctions.
  Capital Markets 
  • Hedge funds reportedly plan foray into CMBS market
    The commercial mortgage-backed securities market traditionally has been controlled by a handful of firms, but several hedge funds are said to be considering buying the high-risk, high-yield vehicles. "Funds are increasingly getting more creative in terms of complexity and illiquidity," said Rael Gorelick, co-founder of Gorelick Brothers Capital. "This is a rates-are-low story. Where else are you going to go?" Bloomberg (2/27) LinkedInFacebookTwitterEmail this Story
  • Regulators want feedback on changes for benchmark rates
    The Commodity Futures Trading Commission says it will seek more public input on how to repair financial benchmarks, such as the London Interbank Offered Rate, before releasing a report in late spring or summer. "What we're collectively looking at is how to enhance the rules around conflicts of interest, governance, submitters, administrators," Chairman Gary Gensler said. Meanwhile, regulators want to settle with some banks regarding Libor manipulation by the end of summer, sources say. Reuters (2/26), Bloomberg Businessweek (2/26), The Wall Street Journal (2/27) LinkedInFacebookTwitterEmail this Story
  Investment News 
  Real Estate Marketplace 
  • JPMorgan looks to shed almost 7% of staff by 2015
    JPMorgan Chase is prepared to cut 17,000 jobs by the end of 2014 as it rebalances its workforce by dropping employees responsible for home loans gone bad. While the company plans to add workers in banking departments, the hiring will not offset jobs shed. As regulatory changes encourage banks to build equity, many lenders are accumulating significant amounts of capital, CEO Jamie Dimon says. "I don't think it's just JPMorgan," he said. "I think all banks will have too much capital in 2½ years. And they're not going to know what to do with it." Reuters (2/27), Bloomberg Businessweek (2/27), The Wall Street Journal (2/26) LinkedInFacebookTwitterEmail this Story
  NAREIT News 
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  Policy Watch 
  • European transaction tax could have worldwide effect
    Europe's proposed financial-transaction tax could affect investors worldwide. The levy would apply to a wide range of activities, including stock and bond purchases and many transactions with banks. Eleven nations, including Germany and France, have agreed to the tax. The Washington Post (2/26) LinkedInFacebookTwitterEmail this Story
If you want to truly understand something, try to change it."
--Kurt Lewin,
German-American psychologist

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