Face to face with Sheila Bair on financial reform

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FDIC Chairman Sheila Bair talks to WSJ economics editor David Wessel about the financial-regulatory legislation pending in Congress, the current health of the banking business and what it’s like to be the sole woman among a band of powerful men.

Source: MarketWatch, June 25, 2010.

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Bill Gross: Rating agencies – no common sense or intelligence

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Bill Gross, co-founder and co-CIO of PIMCO, is to my mind one of the shrewdest money men around. His monthly newsletter, this month entitled “Lovin’ Spoonful”, therefore always makes for thought-provoking reading.

The following are a few excerpts from the report:

“ … if a chef were to concoct a gourmet investment recipe, he would likely blend a teaspoon of intelligence with a tablespoon of common sense …

“No one or no one company has a monopoly on investment or ratings expertise. Second grade intelligence and a high Common Sense Quotient (CQ) are a rare combination for an individual rating agency or an investment management firm as well. Still, the rating agencies in recent years have displayed little of either. In addition, they have brazenly sold their reputations for unbiased judgment to the very companies they were standing in judgment upon. Don’t bury them however; like vampires in the dead of the night they will outlast us all. Those looking to profit at their expense, however, will dismiss them. They no longer serve a valid purpose for investment companies free of regulatory mandates that can think with a teaspoon of IQ and a tablespoon of CQ.”

Click here for the full article.

Source: Bill Gross, PIMCO – Investment Outlook, May 2010.

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Veteran regulator Bill Black on Bill Moyers Journal

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As President Obama makes the case for strong financial reform, Bill Moyers discusses these issues with veteran regulator William K. Black, who says Wall Street is breaking current rules.

Click here or on the image below to view the video.

Click here for a transcript of the interview.

Source: PBS Bill Moyers Journal, April 23, 2010.

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Charlie Rose: Face to face with Mr Blankfein

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Charlie Rose sits down with Lloyd Blankfein, CEO and Chairman of Goldman Sachs, to discuss the firm’s testimony before lawmakers regarding the SEC’s fraud allegations.

Click here or on the image below to view the video.

Source: Charlie Rose, April 30, 2010.

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Angry Americans march on Wall Street

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The largest anti-Wall Street rally since the credit crunch has taken place in New York. Thousands of workers and trade union leaders marched in anger over lost jobs and ruined lives, demanding answers from the source of the trouble – the banks.

Source: Russia Today (via YouTube), April 30, 2010 (hat tip: The Market Oracle).

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Charlie Rose: Analysis of the Goldman Sachs Senate hearings

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Charlie Rose discusses the Goldman Sachs Senate hearings with Gretchen Morgenson of “The New York Times”. Also weighing in are William Cohan “The New York Times”, Gillian Tett of the “Financial Times” and Evan Thomas of “Newsweek”.

A link to the transcript of the interview follows at the end of the post.

Click here or on the image below to view the discussion.

Click here for a transcript of the interview.

Source: Charlie Rose, April 27, 2010.

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