STOCK MARKET WATCH -- Wednesday, 22 April 2015

[Tansy_Gold]

[font size=3]STOCK MARKET WATCH, Wednesday, 22 April 2015[font color=black][/font]

SMW for 21 April 2015

AT THE CLOSING BELL ON 21 April 2015
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Dow Jones 17,949.59 -85.34 (-0.47%)
S&P 500 2,097.29 -3.11 (-0.15%)
[font color=green]Nasdaq 5,014.10 +19.50 (0.39%)


[font color=red]10 Year 1.91% +0.03 (1.60%)
30 Year 2.58% +0.03 (1.18%) [font color=black]


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[font size=2]Market Conditions During Trading Hours[/font]
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(click on link for latest updates)
Market Updates
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[font size=2]Euro, Yen, Loonie, Silver and Gold[center]

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[font color=black][font size=2]Handy Links - Market Data and News:[/font][/font]
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Economic Calendar
Marketwatch Data
Bloomberg Economic News
Yahoo Finance
Google Finance
Bank Tracker
Credit Union Tracker
Daily Job Cuts
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[font color=black][font size=2]Handy Links - Economic Blogs:[/font][/font]
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The Big Picture
Financial Sense
Calculated Risk
Naked Capitalism
Credit Writedowns
Brad DeLong
Bonddad
Atrios
goldmansachs666
The Stand-Up Economist
The Automatic Earth
Wall Street on Parade
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[font color=black][font size=2]Handy Links - Essential Reading:[/font][/font]
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Matt Taibi: Secret and Lies of the Bailout


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[font color=black][font size=2]Handy Links - Government Issues:[/font][/font]
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LegitGov
Open Government
Earmark Database
USA spending.gov
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[font color=black][font size=2]Handy Links - Videos:[/font][/font]
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Charlie Rose talks with Roubini
Charlie Rose talks with Krugman
William Black: This Economic Disaster
Bill Moyers with Kevin Drum and David Corn
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[font color=red]Partial List of Financial Sector Officials Convicted since 1/20/09 [/font][font color=red]
2/2/12 David Higgs and Salmaan Siddiqui, Credit Suisse, plead guilty to conspiracy involving valuation of MBS
3/6/12 Allen Stanford, former Caribbean billionaire and general schmuck, convicted on 13 of 14 counts in $2.2B Ponzi scheme, faces 20+ years in prison
6/4/12 Matthew Kluger, lawyer, sentenced to 12 years in prison, along with co-conspirator stock trader Garrett Bauer (9 years) and co-conspirator Kenneth Robinson (not yet sentenced) for 17 year insider trading scheme.
6/14/12 Allen Stanford sentenced to 110 years without parole.
6/15/12 Rajat Gupta, former Goldman Sachs director, found guilty of insider trading. Could face a decade in prison when sentenced later this year.
6/22/12 Timothy S. Durham, 49, former CEO of Fair Financial Company, convicted of one count conspiracy to commit wire and securities fraud, 10 counts of wire fraud, and one count of securities fraud.
6/22/12 James F. Cochran, 56, former chairman of the board of Fair, convicted of one count of conspiracy to commit wire and securities fraud, one count of securities fraud, and six counts of wire fraud.
6/22/12 Rick D. Snow, 48, former CFO of Fair, convicted of one count of conspiracy to commit wire and securities fraud, one count of securities fraud, and three counts of wire fraud.
7/13/12 Russell Wassendorf Sr., CEO of collapsed brokerage firm Peregrine Financial Group Inc. arrested and charged with lying to regulators after admitting to authorities he embezzled "millions of dollars" and forged bank statements for "nearly twenty years."
8/22/12 Doug Whitman, Whitman Capital LLC hedge fund founder, convicted of insider trading following a trial in which he spent more than two days on the stand telling jurors he was innocent
10/26/12 UPDATE: Former Goldman Sachs director Rajat Gupta sentenced to two years in federal prison. He will, of course, appeal. . .
11/20/12 Hedge fund manager Matthew Martoma charged with insider trading at SAC Capital Advisors, and prosecutors are looking at Martoma's boss, Steven Cohen, for possible involvement.
02/14/13 Gilbert Lopez, former chief accounting officer of Stanford Financial Group, and former controller Mark Kuhrt sentenced to 20 yrs in prison for their roles in Allen Sanford's $7.2 billion Ponzi scheme.
03/29/13 Michael Sternberg, portfolio mgr at SAC Capital, arrested in NYC, charged with conspiracy and securities fraud. Pled not guilty and freed on $3m bail.
04/04/13 Matthew Marshall Taylor,fmr Goldman Sachs trader arrested, charged by CFTC w/defrauding his employer on $8BN futures bet "by intentionally concealing the true huge size, as well as the risk and potential profits or losses associated."
04/04/13 Matthew Taylor admits guilt, makes plea bargain. Sentencing set for 26 June; faces up to 20 years in prison but will likely only see 3-4 years. Says, "I am truly sorry."
04/11/13 Ex-KPMG LLP partner Scott London charged by federal prosecutors w/passing inside tips to a friend in exchange for cash, jewelry, and concert tickets; expected to plead guilty in May.
08/01/13 Fabrice Tourré convicted on six counts of security fraud, including "aiding and abetting" his former employer, Goldman Sachs
08/14/13 Javier Martin-Artajo and Julien Grout charged with wire fraud, falsifying records, and conspiracy in connection with JP Morgan's "London Whale" trade.
08/19/13 Phillip A. Falcone, manager of hedge fund Harbinger Capital Partners, agrees to admit to "wrongdoing" in market manipulation. Will banned from securities industry for 5 years and pay $18MM in disgorgement and fines.
09/16/13 Javier Martin-Artajo and Julien Grout officially indicted on charges associated with "London Whale" trade.
02/06/14 Matthew Martoma convicted of insider trading while at hedge fund SAC (Stephen A. Cohen) Capital Advisors. Expected sentence 7-10 years.
03/24/14 Annette Bongiorno, Bernard Madoff's secretary; Daniel Bonventre, director of operations for investments; JoAnn Crupi, an account manager; and Jerome O'Hara and George Perez, both computer programmers convicted of conspiracy to defraud clients, securities fraud, and falsifying the books and records.
05/19/14 Credit Suisse, which has an investment bank branch in NYC, agrees to plead guilty and pay appx. $2.6 billion penalties for helping wealthy Americans hide wealth and avoid taxes.
09/08/14 Matthew Martoma, convicted SAC trader, sentenced to 9 years in prison plus forfeiture of $9.3 million, including home and bank accounts







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[font size=3][font color=red]This thread contains opinions and observations. Individuals may post their experiences, inferences and opinions on this thread. However, it should not be construed as advice. It is unethical (and probably illegal) for financial recommendations to be given here.[/font][/font][/font color=red][font color=black]

[Demeter]

1. but Tansy, that's ALWAYS the case! The Real Criminal (tm) Walks Free

I've got a slightly different one in my card case:



and I didn't even have to go to church to get it. Come to think of it, I have no idea where it came from...but if I ever end up on a road trip north and west....



I'll have a chance of getting home!

I've been to Paradise, Michigan, too, and it really is.

[Fuddnik]

3. Been to Hell on Grand Cayman.

But I can't get into my $%&*!@& Picasa account to post any pics.

[Demeter]

2. URGENT NEED! I'm leaving town this Weekend

anybody want to sub on the thread, get it started? Your choice of focus/distraction topic.

I'm going to hobnob with my fellow Mensans, blow off a little steam from the condo board...R&R!

I'm even going to stay overnight two nights! Since I don't have a paper route to worry about anymore, this is an option...

And yes, the condo meeting went just about as expected....but I'm 100% Polish, too stupid (or stubborn) to die.

[Fuddnik]

4. I'd help any other time, but I'm going to the big Sun & Fun Airshow in Lakeland this week-end.

Polish Mensa? Isn't that Densa?

[MattSh]

5. I can sub...

Even got a topic in mind. I'll likely post that early so y'all have time to prepare!

Let me know!

[Demeter]

6. You got it! Thanks, Matt!

I should be able to drop in...the hotel has terminals for guests.

[Demeter]

7. Paging Hotler, please pick up the courtesy phone

I have no hope, I see no future, and it's only Wednesday....and it's not going to be a nice one.

[Hotler]

9. I'm here for you........

PM me if you need to vent.

[Demeter]

8. Trade rumble: Democrats stuck between Elizabeth Warren, Barack Obama / Adam Behsudi and Doug Palmer

At issue is the future of the 12-nation Trans-Pacific Partnership.

President Barack Obama on Tuesday took aim at his prime antagonist on free trade: “Elizabeth Warren is wrong on trade,” he told MSNBC’s Chris Matthews on “Hardball.” Obama’s tough comments capture the challenge in selling the Democratic Party on free trade, where strong attacks by Warren, labor leaders and other trade skeptics have put pro-trade Democrats on the defensive.

Sen. Warren (D-Mass) declared she was “ready for a fight” during an anti-trade rally last week in front of the Capitol.

Democratic lawmakers like Rep. Suzan DelBene of Washington now find themselves caught in the crossfire between Obama and Warren. But which direction she chooses will go a long way toward determining whether the 12-nation Trans-Pacific Partnership ever comes into being. DelBene, who is facing her first trade vote since being elected in 2012, is one of several dozen House members who could provide the White House the margin it needs to obtain so-called fast-track authority, which would enable Obama to more freely negotiate the massive Pacific trade deal. Her Seattle-area district is typical of those of other Democrats targeted by the White House. It’s evenly split between liberals and conservatives, but includes many political progressives who are pressuring DelBene to vote against giving the administration the authority necessary to negotiate the biggest trade deal in history. They say it’s a raw deal for workers. Her district, which stretches from the Seattle suburbs to the Canadian border, is also home to Microsoft and a robust farm exporting industry that includes the nation’s top raspberry-producing county. It’s not clear whether DelBene is one of the 10 to 15 members that another Democratic House member says are in the White House cross hairs. But she could be.

“There is a target group of people that are probably going to keep their powder dry until the vote,” the member said.

DelBene’s decision — and the votes of a few dozen Democrats in Congress — will make or break Obama’s legacy on trade as he tries to win so-called fast-track trade negotiating authority to wrap up a five-year effort to close the TPP and other pending deals.

“As I have said all along, for any trade promotion authority bill to gain my support, it must require strong, enforceable environmental and labor protections,” she told POLITICO Pro in an email.

************************************

The fast-track bill, introduced last week by Sens. Orrin Hatch (R-Utah) and Ron Wyden (D-Ore.), is scheduled for a markup on Wednesday in advance of a full floor vote as early as late April. The House Ways and Means Committee, where Chairman Paul Ryan (R-Wis.) is a fast-track champion, will review legislation on Wednesday ahead of an expected markup on Thursday...U.S. Trade Representative Michael Froman and other senior administration officials are making both an economic and national security case for the legislation as they scramble for Democratic votes, congressional aides said. They’re telling lawmakers that a vote for fast track is key to passing the giant Asia-Pacific trade deal, which is important because it would be the most progressive trade deal in history and because it would stop China from setting the rules on trade in the region.

The business community, meanwhile, is hunting for votes on both the right and the left, with the U.S. Chamber of Commerce focusing mainly on Republicans, while the less partisan Business Roundtable handles many of the Democrats. The White House would love to get at least as many Democratic votes for the trade promotion authority bill as it got for a free-trade pact with Colombia in 2011. That agreement, one of the most controversial in recent history, passed with the support of 31 Democrats in the House and 21 Democrats in the Senate. But even those tallies could be too high for TPA.

“China is a gigantic, a gigantic force sitting on top of all nations smaller, except India, in the region and is able to do what Russia is able to do in Europe with regard to oil. … They have significant economic power to deny access to their markets or open access to their markets for all of those regional powers,” Vice President Joe Biden told 29 lawmakers at the New Democrat Coalition PAC retreat Friday.

A senior Democratic aide who attended the retreat said some members on the fence indicated that the national security message is resonating with their constituents.

“The fact that they have pretty skillfully woven in the national security message has been a lift to some members,” the aide said.

Another key point of concern for undecided Democrats is the inclusion of trade adjustment assistance, a program that provides job retraining benefits to workers displaced by trade deals. Wyden and Ryan agreed to move the fast-track bill simultaneously with the renewal of the assistance program, which has become a prerequisite for Democratic votes on a trade bill.
Full coverage of trade policy

*************************************


The fast-track bill is expected to easily pass its first test on Wednesday in the Senate Finance Committee with support from most, if not all, of the panel’s 14 Republicans. If the legislation were to barely squeak through, it would raise questions about its chances of getting 60 votes needed on the floor to block any filibuster effort. One wild card, Sen. Tim Scott, a South Carolina Republican, has not yet said how he intends to vote on the bill. Republicans control the Senate with 54 seats, most of whom are expected to vote for TPA. But every vote that they lose on the Republican side is one more that they need from Democrats. Four of the chamber’s Republicans — Alabama Sens. Richard Shelby and Jeff Sessions, South Carolina Sen. Lindsey Graham and West Virginia Sen. Shelley Moore Capito — voted against the authority in 2002, but it’s not clear yet where they stand on this year’s version of the bill. Only one Finance Committee Democrat — Sen. Tom Carper of Delaware — has publicly endorsed the Hatch-Wyden-Ryan bill. But at least five other Democrats on the panel are seen as potential yes votes based on their support for earlier trade deals. Those include Sens. Maria Cantwell of Washington, Bill Nelson of Florida, Michael Bennet of Colorado and Mark Warner of Virginia. One more possible yes could come from Sen. Ben Cardin, but that largely depends on whether the Maryland Democrat decides that new human rights provisions in the TPA bill are strong enough to address his concerns. He told POLITICO on Monday that he is “not fully satisfied” with the provisions but said he is working with the USTR to see whether some improvements can be made...Anywhere from five to 10 other Democrats could back the bill when it hits the Senate floor, especially if the worker assistance program is approved alongside the fast-track legislation. The Senate’s No. 1 and No. 2 Democrats — Harry Reid of Nevada and Dick Durbin of Illinois — are expected to oppose TPA along with the Democratic-leader-in-waiting, Sen. Chuck Schumer of New York.

Reid said he doesn’t plan to twist the arms of other Democrats to deny Obama a legislative victory. GOOD OLD BENT AND HAIRY REED, NOT COMING THROUGH, AS USUAL...

The real battle for fast track is expected in the House of Representatives. The White House needs a simple majority, or 217 votes currently, to win approval in the lower chamber. Republicans control the House with 244 votes, but could struggle to come up with more than more 200 votes for the bill because of the distrust many party members feel for Obama. Only 35 of the 244 Republicans now in the House were members of Congress in 2002, when TPA was last approved, and seven of them voted to deny giving George W. Bush the authority. More than a dozen Republicans wrote a letter to Obama in 2013, saying they planned to oppose TPA because it undermines Congress’ constitutional authority over trade. One Republican who might vote for the fast-track bill is Rep. Tim Huelskamp, a Kansas Republican with tea party affiliations...So far, only 13 Democrats have indicated they could support the legislation, well short of the 66 who voted for trade deals with South Korea and Panama in 2011 or even the 31 who backed the Colombia pact. A solid 14 Democrats in the House have confirmed they are voting against the measure, while another 119 seem unlikely to support it based on previous statements. The White House is targeting more than 40 Democrats who voted for at least the South Korea and Panama agreements in 2011, as well as a dozen or so newer members of Congress who come from districts that depend on trade for economic growth. Those include Texas Rep. Joaquin Castro, whose twin brother, Julian, serves in the Obama administration. At least one Texas Democrat with a record of supporting trade deals will not be voting for fast track, however.

“While I have voted for many trade agreements, I do not believe that Congress should relinquish its trade oversight authority,” Rep. Lloyd Doggett (D-Texas) told POLITICO. “This really is a fast track — seeking to railroad the Trans-Pacific Partnership through while USTR hides from Congress the most important details.”

Read more: http://www.politico.com/story/2015/04/dems-stuck-between-warren-obama-in-trade-rumble-117211.html#ixzz3Y2IQ50iX

[Hotler]

10. Dear President Obama,

if the TTP is a good deal for working Americans post the document, the names of the people and corporations negotiating the deal on line.

[DemReadingDU]

11. +

[Fuddnik]

12. What was that old saying about the 3 biggest lies?