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November 15, 2012
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Daily newsletter from NYSSA for investment professionals

  Top Story 
  • "Fiscal cliff" brings Wall Street and Obama together
    The need to head off the "fiscal cliff" might already be bringing Wall Street and President Barack Obama back together in the interest of the nation. Goldman Sachs CEO Lloyd Blankfein has spoken about the need for a "spirit of compromise and reconciliation." JPMorgan Chase CEO Jamie Dimon is talking privately with the White House and congressional leaders. Los Angeles Times (tiered subscription model) (11/15) LinkedInFacebookTwitterEmail this Story
  Industry Update 
  • NYSE trade interruption might bring scrutiny
    A New York Stock Exchange server problem temporarily halted trading in more than 200 companies Monday morning, a hiccup expected to heighten scrutiny over self-regulation. It was the latest of many such glitches during the past few months. "Reliance on technology has enabled the markets to achieve extraordinary levels of speed and efficiency," Securities and Exchange Commission Chairman Mary Schapiro said. "But with technology comes a responsibility for getting it right, minimizing errors and protecting the interests of investors." The Trade News (U.K.) (11/14) LinkedInFacebookTwitterEmail this Story
  • FERC suspends JPMorgan from energy trading
    The Federal Energy Regulatory Commission suspended JPMorgan Chase's energy-trading unit from some activities in the electricity markets for six months. The regulator said the bank provided false information in connection with an investigation into possible energy market manipulation. The Wall Street Journal (11/15) LinkedInFacebookTwitterEmail this Story
  • Analysis: U.S. regulators are likely to step up their efforts
    U.S. financial regulators are expected to have more of a will to be vigorous in their jobs and to speed up the rate of rule writing during President Barack Obama's second term. However, the core problems are just as intractable as ever, writes Jesse Eisinger of ProPublica. One area the Dodd-Frank Act failed to address was the independence of regulatory agencies, particularly the Securities and Exchange Commission and the Commodity Futures Trading Commission, Eisinger writes. The New York Times (tiered subscription model)/DealBook blog (11/14) LinkedInFacebookTwitterEmail this Story
  New York Focus 
  • Christie defends his praise for Obama after Sandy
    New Jersey Gov. Chris Christie said people who say he gave President Barack Obama too much praise during his inspection of damage from Superstorm Sandy don't understand the governor's job. "I understand that everything’s political," Christie said. "But the fact of the matter is when we have people dying and suffering in our state, it’s not about politics." New Jersey Online (11/14) LinkedInFacebookTwitterEmail this Story
  • Other News
  Career Development 
  • The best leaders know how to say "thank you"
    Good bosses say "thank you" to their workers often and with real sincerity, writes Art Petty. Expressing gratitude for a job well done is a quick way to motivate your team and show them that you're aware of their hard work, Petty explains. "Saying 'thank you' is one of the simplest forms of showing respect and one of the most powerful forms of letting your team members know that you are watching and that you genuinely care," he writes. (11/13) LinkedInFacebookTwitterEmail this Story
  On The Economy 
  • Most Americans are optimistic about future, poll finds
    About 54% of Americans expect the nation to be better off in four years than it is today, according to the USA Today/Gallup Poll. About 41% of respondents said things will get worse in that period. And 74% of those surveyed said President Barack Obama should strongly back programs with bipartisan support. USA Today (11/15) LinkedInFacebookTwitterEmail this Story
  Financial Products 
  • Blackstone plans ETF focused on corporate loans
    Blackstone Group aims to launch an actively managed exchange-traded fund that would invest principally in corporate loans. Blackstone and State Street are developing the Blackstone/GSO Senior Loan Portfolio, which would allocate at least 80% of funds to leveraged loans, according to a filing with the Securities and Exchange Commission. Bloomberg (11/13) LinkedInFacebookTwitterEmail this Story
Keep your fears to yourself but share your courage with others."
--Robert Louis Stevenson,
Scottish novelist, poet and essayist

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