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December 10, 2012
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Daily newsletter from NYSSA for investment professionals

  Top Story 
  • Banks face additional mortgage securities lawsuits
    The biggest banks in the U.S. may be forced to pay tens of billions of dollars, on top of what they have paid already, in response to a new round of claims brought against them over mortgage securities. Investors, insurers, regulators and prosecutors have initiated dozens of lawsuits related to losses on more than $1 trillion of securities backed by residential mortgages. The New York Times (tiered subscription model) (12/9) LinkedInFacebookTwitterEmail this Story
  Industry Update 
  • U.K., U.S. offer joint plan for "too big to fail" banks
    U.S. and U.K. regulators have made public their common view of how to cope with financial institutions considered "too big to fail." The Federal Deposit Insurance Corp. and the Bank of England discussed the problem in a joint paper. "We believe that, for many [global systemically important financial institutions], this strategy holds the best possibility of preserving stability while removing taxpayer support," Martin Gruenberg, chairman of the FDIC, and Paul Tucker of the Bank of England wrote in the Financial Times. "It holds shareholders, creditors and management in a failed GSifi accountable for its losses." The Telegraph (London) (tiered subscription model) (12/10), Financial Times (tiered subscription model) (12/10) LinkedInFacebookTwitterEmail this Story
  New York Focus 
  Career Development 
  • How to lead like a Zen master
    When someone presents you with an idea, you should take a deep breath and wait 24 seconds before letting yourself criticize it, Cue Ball CEO Tony Tjan says. If you can manage 24 seconds, then try 24 minutes. "Then if you become a Zen master of optimism, you could wait a day and spend that time thinking about why something actually might work," he says. The New York Times (tiered subscription model) (12/8) LinkedInFacebookTwitterEmail this Story
  People & Personalities 
  On The Economy 
  • Fed widely expected to roll out more bond-buying Wednesday
    Many economists are predicting the Federal Reserve will announce a new round of bond-buying, aimed at stimulating the U.S. economic recovery, at the end of its two days of policy meetings this week, ending Wednesday. Operation Twist, under which the central bank sells short-term Treasurys and uses the proceeds to buy long-term bonds, is set to end this month. CNNMoney (12/9) LinkedInFacebookTwitterEmail this Story
  Financial Products 
  • Fund managers say alternative investments can manage volatility
    Used correctly, alternative investments can be used to control volatility, but it is uncertain whether they reduce risk, fund managers say. "Transparency, liquidity and cost -- those are advisers' biggest concerns," said Edward Eglinsky, Direxion's managing director of alternative investments. AdvisorOne (12/7) LinkedInFacebookTwitterEmail this Story
Alas for those that never sing, But die with all their music in them."
--Oliver Wendell Holmes Sr.,
American physician, writer and poet

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