Worldwide
Janet Yellen Said to Be Obama Pick for Fed Vice Chairman to Replace Kohn Federal Reserve Bank of San
Francisco President Janet Yellen is President Barack Obama’s
pick for vice chairman of the central bank in Washington, two
people with knowledge of the selection process said.
Japan Stocks Gain on Speculation Central Bank to Add Funds; Ringgit Rises Japanese stocks gained and the yen
weakened on speculation the central bank will add more funds to
its financial system. Emerging-market currencies strengthened as
rising confidence in Greece’s ability to pay its debt shored up
demand for riskier assets.
Junk Bonds Beating Investment Grade as TXU, Freescale Soar: Credit Markets High-yield, high-risk bonds are
beating investment-grade debt for the first time this year as
confidence in the U.S. economic recovery gains strength.
Inflation Eroding China's Bank Deposits Signals Zhou Must Increase Rates China’s accelerating inflation has
started to erode household savings, threatening to spur
purchases of property and stocks and fuel asset-price pressures.
Japan May Cushion BOJ Balance-Sheet Contraction, `Preserve' Easing Options Japan’s central bank may seek next
week to counter a contraction of its balance sheet caused by the
month-end expiration of an emergency-credit program as deflation
persists in the world’s second-largest economy.
JPMorgan, Citigroup Helped Cause Lehman's Collapse, Examiner's Report Says JPMorgan Chase & Co. and Citigroup
Inc. helped cause the failure of Lehman Brothers Holdings Inc.
by demanding more collateral and changing guarantee agreements,
according to a court-ordered report on the biggest bankruptcy in
U.S. history.
Dodd's Quest for Financial Overhaul Set Back as Bipartisan Talks Collapse The most ambitious attempt to
overhaul U.S. financial rules since the 1930s suffered a setback
as the third bipartisan push collapsed, setting the stage for
wrangling that could delay a final bill for months.
Gates Sees Saudi Help, International Support for Tougher Sanctions on Iran Defense Secretary Robert Gates said
yesterday the U.S. has enough backing from other nations to make
tougher sanctions work against Iran and signaled that Saudi
Arabia may try to persuade China, its biggest oil customer, to
go along.
Democrats' Election-Year Jobs Push Recalls Nixon's '72 Toilet-Paper Gambit In 1972, when he was trying to spur
the economy to win re-election, President Richard Nixon’s
Defense Department bought a two-year supply of toilet paper.
Allawi's Bloc Raises Suspicion of Iraq Vote Tampering Amid First Results Former Iraqi Prime Minister Ayad
Allawi complained about possible vote-tampering as the first
results from Iraq’s election showed blocs led by Allawi and
Prime Minister Nouri al-Maliki leading in their areas of core
support.
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