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- House Democrats propose financial-transaction tax
A group of House Democrats introduced a bill that would subject stock, bond and derivatives trades to a transaction tax. "A financial-transaction tax protects our financial markets from speculation and provides the revenue needed to invest in the education, health and communities of the American people," said Rep. Keith Ellison, D-Minn. The Hill/Floor Action Blog
(9/17)      
| Industry Update | | |
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- Treasury is urged to release guidance on rules for FX swaps
Participants in the foreign exchange market are asking the Treasury Department for guidance regarding a possible exemption for currency swaps to new derivatives rules. The Treasury has previously assured the industry that foreign exchange swaps would get an exemption to the rules. Reuters
(9/17)
- Fed bashers have it all wrong
 Those who have painted the Federal Reserve's recent plans to pursue more quantitative easing as reckless are missing the point, columnist Paul Krugman writes. Granted, he notes, the Fed doesn't explain itself very well, but the upshot is that it vows to hold interest rates low until the economy picks up and won't waver until inflation becomes significant. The New York Times (tiered subscription model)
(9/16)
| New York Focus | | |
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- Long Island congressional race looks like presidential campaign
The race to fill Long Island's seat in Congress bears a similarity to the presidential campaign being fought by President Barack Obama and Republican challenger Mitt Romney. The Democratic incumbent Timothy Bishop, who sometimes assumes a professorial tone, is being challenged by Randy Altschuler, a Republican with a master's degree in business administration from Harvard who says his opponent isn't giving enough attention to helping the U.S. economy get back on its feet. The Wall Street Journal
(9/17)
- Doe Fund founder files paperwork to join N.Y. mayor's race
George McDonald, the founder of a nonprofit group that works to deal with the problems of homelessness and addiction, filed documents with the New York City Campaign Finance Board that allow him to begin fundraising for what could become a campaign for the New York City mayor's job. He is the founder and president of the Doe Fund. The Wall Street Journal
(9/17)
| Career Development | | |
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| On The Economy | | |
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- Data point to slowdown in U.S. manufacturing
 A growing body of data suggests that the U.S. manufacturing sector is headed into a slump. A decline in manufacturing activity in the New York region is part of a broader trend showing up in Federal Reserve data nationwide. Manufacturing data often are a leading indicator of what will happen with the economy overall. Bloomberg Businessweek
(9/17), Bloomberg
(9/17)
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 | The secret of managing is to keep the guys who hate you away from the guys who are undecided."
--Casey Stengel,
American baseball player and manager
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