- Opinion: Inside the Pelosi Sausage Factory
- Fate of Volcker Rule May Hinge on Dodd’s ‘Shall’ Becoming ‘May’
- Obama Pays More Than Buffett as U.S. Risks AAA Rating
- Greece’s Woes Will Keep Euro Under Pressure
- Citi to Double Team Helping Institutional Hedge Fund Investment
- Tiger Woods Is ‘Nervous’ About Fan Reception for Masters Return
Opinion: Inside the Pelosi Sausage Factory – Wall Street Journal
Last week Republican Rep. Mike Pence posted on his Facebook site that famous Schoolhouse Rock video titled “How a Bill Becomes a Law.” It’s clearly time for a remake.
Never before has the average American been treated to such a live-action view of the sordid politics necessary to push a deeply flawed bill to completion. It was dirty deals, open threats, broken promises and disregard for democracy that pulled ObamaCare to this point, and yesterday the same machinations pushed it across the finish line……
Fate of Volcker Rule May Hinge on Dodd’s ‘Shall’ Becoming ‘May’ – Bloomberg
The fate of the Volcker rule, which would ban proprietary trading at U.S. banks, may hinge on the word “shall.”
Lobbyists for financial firms are seeking to water down language in Section 619 of the 1,336-page bill proposed last week by Senate Banking Committee Chairman Christopher Dodd. Their message: Study the issue first to see if it’s needed, then give regulators the option of imposing a ban.
The current language in the draft says federal agencies “shall issue final regulations implementing” the Volcker rule, which was proposed by the Obama administration in January and named after former Federal Reserve Chairman Paul A. Volcker, now a presidential adviser…..
Obama Pays More Than Buffett as U.S. Risks AAA Rating – Bloomberg
The bond market is saying that it’s safer to lend to Warren Buffett than Barack Obama.
Two-year notes sold by the billionaire’s Berkshire Hathaway Inc. in February yield 3.5 basis points less than Treasuries of similar maturity, according to data compiled by Bloomberg. Procter & Gamble Co., Johnson & Johnson and Lowe’s Cos. debt also traded at lower yields in recent weeks, a situation former Lehman Brothers Holdings Inc. chief fixed-income strategist Jack Malvey calls an “exceedingly rare” event in the history of the bond market…..
Greece’s Woes Will Keep Euro Under Pressure – Wall Street Journal
More volatility and weakness are in store for the euro this week as European Union leaders debate whether to offer a lifeline to debt-strapped Greece.
Currency markets aren’t expecting the EU summit this Thursday and Friday to yield a specific plan to support Greece, but contradictory statements in the run-up to the event will whip around the currency. Even if an agreement is reached, the euro may not necessarily benefit for long, as problems of deflation and weak growth will continue to hold it down…..
Citi to Double Team Helping Institutional Hedge Fund Investment – Bloomberg
Citigroup Inc., the bank 27 percent owned by the U.S. government, plans to double the size of a team helping pension and government-backed funds manage direct hedge fund investments, said Nick Roe, its global prime finance head.
The targeted increase of the now 30-person consulting team may be completed within 18 to 24 months, London-based Roe said in an interview in Hong Kong on March 19. Asia may get a disproportionate number of the additions as the bank expands the services from Europe and the U.S. to the region, he added…..
Tiger Woods Is ‘Nervous’ About Fan Reception for Masters Return – Bloomberg
Tiger Woods said he’s concerned about the reception he’ll get from fans when he returns to competition at golf’s Masters Tournament next month after almost four months away from the sport.
“I’m a little nervous about that,” Woods said in an interview with ESPN yesterday. “It would be nice to hear a couple claps here and there.”
Woods, 34, spoke with ESPN and the Golf Channel in his first interviews since admitting marital infidelity and taking a break from golf…..
Tags: Barack Obama, Citigroup, Dirty politics, Fed, Financial reform; Warren Buffett, Golf, Greece, Hedge funds, Obamacaare, Politics, Sovereign debt; Euro, Tiger Woods
