U.S. lawmakers squandering gift from markets 21 Nov 2011 Global investors have given Congress lots of rope to rein in long-term deficits before they enter crisis mode. The committee charged with the task failed to make any progress. So far, markets are enabling such inaction. Washington, and the world, won’t always be so lucky.
Jefferson County isn’t a recession victim 10 Nov 2011 The Alabama county’s bankruptcy stands to be the largest in U.S. history, but investors shouldn’t see it as a sign of more to come as municipalities suffer in the wake of the recent downturn. Corruption and woeful mismanagement sank the county, not recession and falling revenue.
Jefferies’ differences with MF Global are notable 3 Nov 2011 Both Wall Street brokers took advantage of larger rivals’ regulatory pain - and bragged about it. But Jefferies has stressed client, rather than prop, trading. Its finances are clearer too. These are important distinctions getting lost in the panic after MF’s failure.