Finance Info Blog Mortgage and Financial information

29Feb/120

Exclusive: U.S. conducting criminal Libor probe

NEW YORK - The Justice Department is conducting a criminal probe into whether the world's biggest banks manipulated a global benchmark rate that is at the heart of a wide range of loans and derivatives, from trillions of dollars of mortgages and bonds to interest rate swaps, a person familiar with the matter said.

reuters.com

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29Feb/120

Goldman manager investigated for insider trading role: report

- Federal authorities are investigating David Loeb, a managing director of Goldman Sachs Group Inc, as part of an insider trading probe focusing on technology stocks and the company's hedge fund clients, the Wall Street Journal reported on Wednesday, citing people close to the matter.

reuters.com

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29Feb/120

Are bonds only for scaredy cats?

If you're investing for retirement that is still more than 20 years away and you do not have inclination to sell when stocks take a dive, is there any advantage to owning bonds at all? Or are bonds only for scaredy cats who will sell their stocks during a market plunge? -- Tom McCarthy, Wilmington, Delaware

CNNMoney.com

28Feb/120

Exclusive: U.S. conducting criminal Libor probe

NEW YORK - The Justice Department is conducting a criminal probe into whether the world's biggest banks manipulated a global benchmark rate that is at the heart of a wide range of loans and derivatives, from trillions of dollars of mortgages and bonds to interest rate swaps, a person familiar with the matter said.

reuters.com

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28Feb/120

Cut Social Security for the rich? We already have.

It's almost time for one of Washington's rites of spring: the arrival of the new Social Security trustees' report. The report, which is usually issued in April, will show Social Security's finances deteriorating because of a higher-than-projected inflation adjustment for 2012. This is likely to touch off a debate over whether to help fix Social Security's financial problems by denying retirement benefits to "the rich." On the surface, this approach, known as "means testing," sounds great. Eliminating payments to retirees with incomes above a certain level would make more available for folks in need. Those greedy rich need to pay their fair share, right? But here's a dirty little secret: Social Security is already seriously means-tested. And my situation shows it.

CNNMoney.com

28Feb/120

What makes a master B-school professor?

(Poets&Quants) -- The day's assigned case, "The Weekend That Changed Wall Street," is meant to provoke a thoughtful discussion. It is a deep dive into the 2008 bankruptcy of Lehman Brothers, an event that shocked the financial world and helped trigger a severe global recession. So the first question that finance professor Yiorgos Allayannis scribbles on the blackboard in classroom 190 at the University of Virginia's Darden School of Business evokes Shakespeare: "To bail out or not to bail out." It certainly won't be the only question asked on this Monday morning in late February, but it is the first one that MBA students in this highly popular elective course on financial institutions and markets must consider. Most of the students who raise their hands favor the government's decision to let the investment banking firm go bust. Only eight students believe it was a mistake.

CNNMoney.com

28Feb/120

Dirty little secrets of Help Wanted ads

FORTUNE -- Read enough help-wanted advertisements, and you'll soon realize that they all basically sound the same. Jargon like "detail-oriented" and "self-starter" is so overused that the positions advertised begin to sound unremarkable: part of the expected landscape of hunting for a job. But if you stop and think about what all of these buzzwords are signaling, you'll realize how much information you just might miss if you fail to read between the lines. First of all, when employers fall back on the same old jargon to advertise positions, it could very well be that they actually have no idea what they are looking for. They just know they have a spot to fill. "Jargon is our way to grow lazier decision making in corporate cultures," says Kevin Fleming, owner of Grey Matters, a neuroscience-based executive development and coaching firm based in Jackson Hole and Tulsa, Ariz. "We use these words to cover up something. It could also be a way to hide some ambivalence."

CNNMoney.com

28Feb/120

5 tricky tax challenges

With the Bush tax cuts slated to expire at the end of this election year, consider this filing season the calm before the tax storm: You'll face few new rules, tax rates are the same as last year, and popular deductions are still in place.

CNNMoney.com

26Feb/120

U.S. gasoline hits $3.69/gallon on Iran jitters: survey

- The average U.S. price of gasoline jumped 18 cents a gallon in the past two weeks due to rising costs of crude oil and related concerns about tensions in the Middle East, although supplies of fuel remained plentiful in most of the country, according to the nationwide Lundberg Survey.

reuters.com

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25Feb/120

BRICS call for open selection of next World Bank chief

MEXICO CITY - A meeting of BRICS major emerging countries discussed the selection process of the next head of the World Bank and emphasized it should be open to all countries, rejecting the tradition that the job automatically goes to an American, a senior BRIC official said on Saturday.

reuters.com

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