Libor lawsuits should be dismissed, banks argue
JPMorgan Chase, Bank of America and other banks are being sued by local governments, community banks and customers regarding possible manipulation of the London Interbank Offered Rate. The defendants have asked U.S. District Judge Naomi Reice Buchwald to dismiss the cases, arguing there is no evidence they broke the law. Reuters
(3/5), The Wall Street Journal
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Congressional inquiry on HFT is needed, NASAA says
Congress should investigate high-frequency trading, the North American Securities Administrators Association says. NASAA wants Congress to identify high-frequency traders and look at how their actions affect the markets. Reuters
Dow closes at record high
The Dow Jones industrial average closed at an all-time high of 14,253.77 on Tuesday, topping a record set in October 2007. "I'm surprised at the speed of the gains, which have come at a pace that we can't annualize," said Jim McDonald of Northern Trust Global Investments. "But stocks are still not expensive, and we can expect to continue getting a reasonable advance from here." Reuters
(3/6), Barron's (subscription required)/Stocks to Watch blog
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