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November 29, 2012
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Daily newsletter from NYSSA for investment professionals

  Top Story 
  • Judge keeps FHFA lawsuits against lenders alive
    U.S. District Judge Denise Cote ruled the Federal Housing Finance Agency can proceed with its lawsuits against Credit Suisse Group, Bank of America and other banking giants. The lawsuits allege the banks misled Fannie Mae and Freddie Mac into buying mortgage-backed securities that led to huge losses for the housing finance giants. The banks have refuted the allegations. Reuters (11/28) LinkedInFacebookTwitterEmail this Story
 
Crafting Your Company's Story
Call it an elevator pitch or your company's story. However you describe it, being able to quickly summarize your business can help you engage with customers, partners and investors. Click here to read Boomtown: Think Like a Startup

  Industry Update 
 
  • CFTC finalizes clearing rule for swaps dealers
    The Commodity Futures Trading Commission unanimously approved a rule that will require Goldman Sachs Group, JPMorgan Chase and other swaps dealers to guarantee certain swaps at clearinghouses beginning in March. The rule outlines which interest-rate and credit default swaps must be processed through a clearinghouse. "Central clearing lowers the risk of the highly interconnected financial system," CFTC Chairman Gary Gensler said in statement. "It also democratizes the market by eliminating the need for market participants to individually determine counterparty credit risk, as now clearinghouses stand between buyers and sellers." Bloomberg (11/29), FuturesMag.com (11/28), International Financing Review (free content)/Reuters (11/29) LinkedInFacebookTwitterEmail this Story
  • FSOC will meet 11 days before Schapiro's departure
    The Financial Stability Oversight Council is scheduled to meet Monday in a closed session. At a Nov. 13 meeting, the council drafted three proposals for how the Securities and Exchange Commission could overhaul money market mutual funds. The Treasury Department didn't release an agenda for Monday's meeting, which will come 11 days before council member Mary Schapiro steps down as the SEC's chairwoman. Bloomberg Businessweek (11/28) LinkedInFacebookTwitterEmail this Story
  • Volcker rule finalization is unlikely before next year
    Regulators are not expected to meet a Dec. 31 deadline for issuing the final draft of the Volcker rule. Previous drafts have been several hundred pages long, and the rule requires approval by five agencies, including the Federal Reserve and the Federal Deposit Insurance Corp. CNBC (11/28) LinkedInFacebookTwitterEmail this Story
[Free eBook] Hacking Value Delivery: The CIO and the Age of the Customer
CIOs today have a wealth of opportunity available to them in the Age of the Customer, and they play an even more paramount role in their organization as enterprises become increasingly digital and customer-centric. Unfortunately, CIOs are also up against outdated notions of their role - and limited budgets. As a result, too few CIOs have fully embraced the opportunity to drive their businesses into the customer age. Learn how to make the cultural change to a customer-first approach with this free eBook. Get it now.

  New York Focus 
 
  • Sen. Sweeney considers run for N.J. governor's job
    New Jersey Senate President Stephen Sweeney, D-Gloucester, is telling potential supporters in the Democratic Party that he will run for governor in the next election if Newark Mayor Cory Booker doesn't enter the race, the Newark Star-Ledger reported. Sweeney's spokesman wouldn't comment on the report. The Star-Ledger (Newark, N.J.) (11/28) LinkedInFacebookTwitterEmail this Story
Lessons Learned from the European Financial Crisis
What can we learn from the ongoing European Financial Crisis? Economist Athanasios Orphanides dives in and shares his take on the crisis in our complimentary whitepaper "Why the European financial crisis is still a problem: The narrative is all wrong," brought to you by Johns Hopkins Advanced Academic Programs and Smartbrief.

  Career Development 
  • How leaders can overcome their fears
    Many bosses have fears that hold them back, writes Mary Jo Asmus. Overcoming them requires having a clear moral compass and using that conviction to work past jitters. "If you are a leader who has a solid value system in place ... fear becomes a non-issue," Asmus writes. Aspire-CS.com (11/26) LinkedInFacebookTwitterEmail this Story
  On The Economy 
  Financial Products 
  SmartQuote 
We acquire the strength we have overcome."
--Ralph Waldo Emerson,
American writer


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