Whitney's Latest Concern: Pulled Consumer Credit Lines

The latest prognostication from the Credit Cassandra AKA Meredith Whitney is alarming to say the least.  It concerns the fact that she sees up to 50% of all consumer credit lines being yanked at exactly the worst time for any prospects of a recovery…which would mean now. From Forbes (FP): Whitney discussed credit card lines…

The Somali Pirate Takes Manhattan!

This has FARCE written all over it… From the New York Times: A Somali teenager has arrived to face what are believed to be the first piracy charges in the United States in more than a century…Abduhl Wali-i-Musi, the sole surviving Somali pirate from the hostage-taking of an American ship captain, was handcuffed with a…

Market Recap: Stocks Go Their "Separate Ways"

[youtube=http://www.youtube.com/watch?v=lUYe0XLe4o8&feature=PlayList&p=F5713BA3870442B9&index=0&playnext=1] Stocks and investors went their “Separate Ways” today, so I thought it appropriate to pass along this video of the band Recess doing a cover of Journey‘s hit by that name.  The singer is 9 years old, guys. Today, the 6 week stock market rally stalled as investors digested the earnings from Bank of…

Goldman & Citi: The Pot and The Kettle

So Goldman Sachs (GS) doesn’t like how Citigroup (C) made it’s numbers last week.  Well neither do the rest of us, but we also don’t like how Goldman made their own numbers! From Bloomberg:  While Citigroup posted first-quarter net income of $1.6 billion last week, the New York-based bank suffered an “underlying” loss of 38 cents a…

Stress Test: Capitalism Without Competition?

We’ve removed competition from just about every facet of American life for our children: No dodgeball or football in elementary school for fear of the more aggressive kids dominating the meeker kids Everyone who shows up to a spelling bee or a sporting event gets a ‘participant” award, just for having a pulse There is…

Why 10% Of Us Are Unemployed, Exhibit A

Hey Kids, I’m an ardent patriot and as American as apple pie, or the apple-flavored pie they serve at McDonalds.  That said, I came across the below video, not exactly flattering to Americans in general, and thought I’d pass it on.  For my friends who don’t feel like reading the Wall Street Journal, here’s a…

Bail-ski: A Toast to the Russian Oligarchs, They're Gonna Need It

    Forbes Russia just put out its 100 Wealthiest Russians lists and in the spirit of Glasnost, I thought I’d open up the discussion here. The numbers are out and the news is uglier than that thing on Gorbachev‘s head for Russia’s billionaire oligarch class… From Forbes Russia via The Guardian UK: The number…

Hot Links: CNBC, Positivity, Thomas Weisel & Credit Cards

Hot Links for Weekend Reading Ever wondered what CNBC actually stands for?  Its their 20 year anniversary, so check out The Business Insider (the old Clusterstock) for the answer and amaze your friends and co-workers! Also on TBI, James Cramer breaks his silence on his appearance with The Daily Show’s Jon Stewart.  Twas an ambush….

TGIF Market Recap: 6th Straight Winning Week, Now Its On!

The Reformed Broker, AKA Sir Ticks-a-Lot, here with today’s Market Recap… OK, listen up! I want to see all the sectors who went up this week take one step forward…Not so fast Metals and Miners! The 2:30 Look: Worst Performing Industries % Change Silver -4.67% Gold -3.47% Jigginess is in the air this Spring, whether…