May 2002 - July 2002 (Many links will be dated)
Tuesday July 30
Bush to Sign Corporate Crackdown Bill Reuters
History of bull markets rife with folly CBS (Calandra)
Raging bull markets, when they crash, always end lower than where they started.
Consumer Confidence Falls Nine Points in July CB
Global Aftershocks Morgan Stanley (Roach)
Rational Saturninity AEI
Bull's Rebuttal GoldenBar
Why Monday was just another day CNNfn
NYT: Qwest Insiders Made Millions Reuters
Merrill analyst removal was 'key' to Enron deal FT
3 Brokers Get Jail Terms Newsday
All of the brokers were accused of helping to inflate prices of initial public offering and of helping to hide profits in offshore accounts
‘Dow 36,000’ gurus hold fast to belief in market’s potential WSJ
Bankrupt: Budget Group Vanguard Airlines Qwest?
Auto Market's Strength May Vanish Bloomberg
A Pro Gives Wall Street’s Crooks Some Sound Tips NY Post
Tech firms balk at expensing options USA Today
Tracking the incredible shrinking venture funds Boston Globe
Study: U.S. Economic Stability Just Luck Reuters
Banking crisis grips Uruguay BBC
In Brazil, 'Ill Will' Over O'Neill Washington Post
Treasury Chief's Remarks Cause Diplomatic Stir, Weaken Currency
Monday July 29
Wall Street gets a bull stampede CBS
Rational Pessimism? Contrary Investor
No One Need Apply Newsday
When Pots Call Kettles Black Bloomberg
The days when the U.S. could dictate business ethics to the world are fast drawing to a close
Does the stock market lead the economy? TheStar
As George Soros expounded in his ‘Theory of Reflexivity’, sometimes perception tends to lead to reality.
After the New Economy, Expect the New Recession Bloomberg
Qwest Admits Improper Accounting, to Restate Results Bloomberg
Markets taking more stock of rating agency decisions Globe & Mail
CNBC Struggles Even as Financial News Abounds NY Times (R)
Its daily, average audience of 233,000 people in the second quarter was 25 percent smaller than it was during the corresponding period last year.
Putting Retirement Off Takes Some Work CTNow
Research shows that higher-income workers expect to retire later, at age 65 instead of 63, which was what they thought in 1998.
Weekend
The Bears Are Starting to Buy Washington Post
Bears Call "Time Out" HD Brous
Debt fuels US gas and power bankruptcy fears Financial Times
Some industry insiders believe the write-offs faced by banks and bondholders could exceed the losses caused by the collapse of WorldCom and Global Crossing
Snap-back rally no cause for joy CBS MarketWatch
Several of the more important indicators that are found only before major market bottoms are still missing... Lowry
'Dr Doom' sees more market pain BBC
Trust Shattered, Wall Street Can't Afford Coincidences NYT (R)
How Wall Street could impoverish us all Independent
Footsie 'faces fall to 3,000' Guardian
Robert Shiller added to the gloom by saying that even after a 40 per cent fall in share prices since the dotcom boom, markets are still overvalued by historical standards. To be in line with historic ratios, “markets have to come down another 40 per cent,” he warned.
Keep it simple Financial Sense
JPM Derivatives Monster Crashes GoldSeek (Zeal)
Worsening Profit Outlook Threatens Gains Bloomberg
Clearly, companies are having trouble making money these days
Board Takes Up Options Issue Washington Post
A Sudden Rush to Declare Bankruptcy Is Expected NYT
Got Bear Market Depressive Syndrome? CNNfn
Symptoms include insomnia, upset stomach, loss of concentration and a screaming urge to throw all your remaining money into bonds or CDs.
'Stockalypse' Gives Sinking Feeling Reuters
Bond defaults hit record $52.1 bln in 2d qtr-S&P Reuters
Brazilian real hits new record low against dollar Financial Post
Friday July 26
Yen Heads for Biggest Weekly Drop in 4 Months Bloomberg
Caution: Energy Trading Washington Post
FERC plans to release next week its proposal for standardized power market rules, which could replace the patchwork of different market systems currently used across the county.
Last Line of Defense Morgan Stanley (Roach)
AOL In Freefall NY Post
Hill Set to Change Bankruptcy Laws Washington Post
The U.S. Economy Is Not Depression-Proof Ludwig Von Mises
Almighty dollar seems like petty cash St. Petersburg Times
Absolute disappointment Economist
Despite being in a bear market, hedge funds struggle to do well
Banks set out to soothe nerves BBC
Thursday saw persistent rumours that the banks are now being probed by the Securities and Exchange Commission (SEC) in addition to Congress.
Americans feel worse off than last year USA Today
Pension underfunding soars 425% Boston Globe
Pensions rocked by market slide (UK) BBC
Fat Americans sue fast food firms BBC
Nortel sinks 21 per cent to penny stock on NYSE Globe & Mail
Bad boys of Wall St. make good TV Globe & Mail
IMF officials are now in Argentina demanding that governors trim spending and stop printing money CSM
Argentina Says 50% Live in Poverty, Unemployment 22% Bloomberg
Thursday July 25
Hold on Superspan . . . for now Times
...we are not yet at the point where the system is on the verge of collapse.
US June durable goods orders plunge Census
Greenspan Haunted By 1990s Ghosts Bloomberg
Don't Bank on Problems Going Away Anytime Soon NY Post
Rally Won't Last Comstock If only this were the bottom CBS
A slow leak in the balloon Boston Globe
The bad news is the mutual fund business could look like a balloon with a slow leak for a long time.
Mutual-fund investors shifting, not bailing out AP
Blowing Bubbles: U.S. From Across the Pacific Bloomberg
Nobody on this side of the pond is even talking about the unsustainable current account deficit Americans are running.
Market Cries '98 Tears TheStreet
Blame Iacocca Slate
How the former Chrysler CEO caused the corporate scandals.
As Wall Street goes, so go world markets CS Monitor
Wall Street Securities Firms Bracing for New Round of Layoffs Dow Jones
Rumbles of double-dip recession CS Monitor
Trillions in stock-market losses and sagging consumer confidence threaten to repeat a pattern last seen in 1981.
The Only Option (For Stock Options, That Is) Fortune
The Revenge of Reality Ludwig Von Mises
Neither corporate scandals nor corporate failures are the main causes of the current stock market turbulence; these are just the symptoms of the disease...
The Surety Thing CFO
Two Lawsuits Add To Citigroup's Headaches Hartford Courant
NEC 'retires' 5,000 staff BBC
Banking crisis looms over Argentina talks BBC
German Business Confidence Drops Bloomberg
Wednesday July 24
Who Really Cooks the Books? NYT (Buffett)
Analysts see no need for Fed to act MSNBC
SEC conducting a ``fact-finding mission'' into AOL Bloomberg
SEC Chief Seeks Promotion and Raise Reuters
Fed ought to cut rates soon--economist Kaufman Reuters
A mad dash over the cliff for Wall St? Business Times
Cornered Animal GoldenBar
Senate Panel Says 2 Banks Helped Enron Hide Loans WP
Chase and Citicorp knew what Enron was doing, assisted in the deceptions, and profited from their actions. Levin
Former Adelphia Execs Arrested for Fraud Reuters
3 More Firms to List Options as Expenses Washington Post
Program trading rises again WSJ NYSE
Sandy’s Bad Year NY Post
Bear market likened to slump of 1973-1974 Baltimore Sun
Fears grow that this isn't usual bear market Knight Ridder
Investors Appreciate Dividends Again AP
So far this year, the 350 dividend-paying stocks in the S&P 500 have declined about 11 percent, less painful than the 29 percent drop among those that don't pay dividends.
Fed - No comment on market rumors of meeting Reuters
Tuesday July 23
C, JPM Tumble on Enron Finance Bloomberg
Joe Lieberman’s Cover-Up NRO
I Want The President To Certify The Govt’s Books NY Post
U.S. Regulators Tighten Policy on Problem Loans WP
Investors abandon stock funds CNNfn
Market flies in face of 'truths' Dallas Morning News
Fall was not without warning Bangkok Post
Citigroup Said to Mold Deal to Help Enron Skirt Rules NYT (R)
TD accused of helping Enron hide debt National Post
Companies Buying on the ‘Cheap’ CFO
WorldCom woes ripple across bank stocks USA Today
Party at The NYSE (2:00 PM) NYSE
Long live dividend yield! CBS MarketWatch
Business Lobbyists Lose Clout on Audit Reform WP
SEC considers rule on analysts’ picks WSJ
Lucent AT&T Tyco Novellus UPS Reuters/Cnn
Japan may relax bond cap AFP
Asia Pacific: Free-falling MS (Andy Xie)
Monday July 22
Dow Jones closes below 8,000 BBC
WorldCom Files Record Bankruptcy Case WP
NYSE's Grasso: Monday May Be Rough Day Reuters
Cracking Denial MS (Roach)
US retreat still has a way to go SMH
The most important date to remember is August 14...
Banking System in Trouble? Gold-Eagle
THE GREAT CRASH OF 2002 part ii 321Gold
The Real Price of the Slide Newsweek
'Paper' losses, real-world impact CS Monitor
As stocks losses mount – now $8 trillion since peak – tough choices face retirees, colleges, and nonprofits.
NASD to take action on Grubman WSJ
For the Record Depression.tv
A Torrent of Loans Becomes a Trickle NY Times
An Excerpt from The Great 401(k) Hoax Business Week
The 401(k) represents an implicit promise to middle-class Americans that they can live off the income that they receive from stock ownership. Amazon
Watch Out For the Double Slump NY Post
Raising Fannie Mae's Shades CS Monitor
Retire at 65? Better Change Your Plans Business Week
This bear is here to stay, Mobius says National Post
Franklin Templeton equity guru says two more years of pain
Another fallen idol The Star
Fed Chief Now Blamed for Inflating Stock Bubble LA Times (R)
Greenspan Shrugged NY Times (R)
Q&A: Examining Greenspan’s Legacy Newsweek
Weekend
Confidence Is Not The Problem Comstock
A crash course in Galbraith The Observer
There must be some way out of here Economist
Q&A: Examining Greenspan’s Legacy Newsweek
Wall Street’s slide could tip U.S. back into recession MSNBC
Friday July 19
The Angry Bear Market Business Week
Still Blowing Bubbles MS (Roach)
Wall Street slump brings blues to Main Street IHT (WP)
CalPERS: Watchdog under watch CBS MarketWatch
U.S. turnaround stalls during June National Post
'Jobless, profitless recovery' continues
Magellan assets hit a 4-year low Boston Globe
We are in one of the greatest bear markets of all time - the third-worst bear market in stock market history
Where Did the Net's Wise-Cracking Stock-Pickers Go? Reuters
Cisco, Intel Unlikely to Join Coke, Dole in Expensing Options Bloomberg
WorldCom bankruptcy may be near WSJ
More gloom hits troubled Ericsson BBC
How Pitt Could Make Fraud Less Tempting NY Times
Fixed mortgages fall to record lows MSNBC
Wall Street hits Nikkei Globe & Mail
Thursdsay July 18
Stock Declines Prompt Lifestyle, Portfolio Changes WP
...4 out of 10 Americans said they are not confident they will have enough retirement income and assets -- almost double the number a year ago
The Cycles of Financial Scandal NY Times
Monitoring The Cycle of Deflation Comstock
Bubble Bubbles, Plenty More Troubles... Gold-Eagle
Grrr Economist
Credit card stocks dive on consumer default fears Reuters
Guess what? Investing is hard Globe & Mail
Firms face higher jobless fund payouts Boston Globe
Dividend Pledge Becomes Hard to Keep TheStreet
Lawsuit Says Salomon Gave Special Deals to Rich Clients NY Times
Sen. Corzine's Wall Street Sleaze Newsmax
Celestica to slash 6,000 jobs National Post
'We have not seen a second-half rebound,' CEO
"Everyone Is Selling, No One Is Buying" Business Week
Sinking stocks threaten Europe's growth--and the new shareholder culture
Bankruptcies possible as airlines' losses continue USA Today
Unconventional Transactions Boosted AOL Sales WP
Nokia sales take a hit BBC
2Q02 profits at technology giant IBM plummeted 97%... AP
Japanese Drop Plans to Invest in U.S. Bloomberg
Greenspan Predicts Companies Will Restate Earnings Downward Dow Jones
Wednesday July 17
Don’t Buy The Divergence Hype FallStreet
Investors dreaming of capitulation could be waiting in vain Globe & Mail
The big freefall in October (1929), when the Dow lost more than 20 per cent of its value, took four days -- and the brief spike that followed was just a prelude to another plunge.
Disclosure urged for U.S.-backed firms CBS MarketWatch
The way I see it, the GSEs are now our savings and loans of the late-1970s. You cannot keep a bubble going on forever. Ron Paul
Greenpan's Testimony-- Reading Between The Lines Comstock
Options Must Be Treated as Expenses, Global Panel Says WP IASB
Stock Options are most prized as an accounting loophole Bloomberg (PDF)
Bank One to Count Options as Expense Washington Post
Capital One to Boost Bad-Loan Allowances Washington Post
Sony Shares Drop on Accounting Questions Reuters
Raytheon Faces SEC Charge On Disclosure Washington Post
The Bear's Lair: What to do next UPI
For students, Accounting Fraud 101 WSJ
Bush sets a bad example SF Gate
Disbelief at lack of buyers and quality stock Irish Examiner
Pitt Blames ‘SoundBites’ For Stock Market Debacle
BBC
“I believe that if we keep getting the political soundbites that some few have been trying to perpetuate on the investing public, there's no telling how low the markets could go.”
Tuesday July 16
Foreign Investors May Be Saying Adios to U.S. Marts NY Post
The Bears Still Look Hungry TheStreet
Chillingly, even after this year's 30% drubbing, tech stocks must lose half their current value to reach sensible levels.
Panic of 1819--and 2002 Von Mises
Could the United States suffer as much as Japan has? CNNfn
All the economists are saying it's a normal cycle, it's time for the U.S. to recover.
They said that in Japan, too.
Salary deflation could slow recovery UPI
The Senate bill misses the point MSNBC
Congress ducked the key accounting issue by not barring the gimmick of treating stock options as ‘assets’
Senate Votes 97-0 To Rein In Firms Washington Post
Wild Wall Street Ride Slowed by Main Street NY Times
The last eight times they bought the dip, they lost money
Dollar sinks to fresh lows Reuters
Intel CEO’s planned speech fuels talk of big job cuts WSJ
Trust in corporations waning in wake of scandals USA Today (Gallups)
Coke's stock-option move pressures others AP
J.P. Morgan Denies Liquidity Rumors Reuters
In market dip, a calculation of uncertainty for politicians this fall Boston Globe
Bank of Canada Raises Rates To 2 3/4% BOC
French bank chief to stand trial BBC
Monday July 15
Asymmetrical Risks MS (Roach)
Bear market could last years WSJ
The Earnings Season of Discontent Business Week
Coca-Cola to Expense Stock Options as Income Washington Post
Buffett Says U.S. Companies Should Follow Coca-Cola Bloomberg
Euro powers to parity with dollar CNNfn
Is a "Triple-Digit Dow" Inescapable? Business Week
Feds stuck with $1 billion in surplus milk powder AP
Japanese banks 'exploit accounting loophole' Financial Times
Weekend
New Reasons to Wonder if the Worst Is Over NYT
How much worse could the bear market get? A lot.
Stocks' Slide Is Playing Havoc With Older Americans' Dreams NYT
Bad Times Get Worse Savings SF Gate
Falling stock forces retirees to reassess. No time to recoup
Blame The Fund Managers, Too NY Post
Bear for the very first time Guardian
Market fuels fears of 'double-dip' recession WT
Accounts must be brought to book Smithers
Flashback: The Risk of a US Liquidity Trap Smithers
Study shows 401(k) vulnerability Washington Post
Pension, health care funds may see shortfall USA Today
Friday July 12
Debt Valley Financial Sense
S&P 500 Slow-Motion Crash Zeal
Consumer Sentiment at 8-Month Low Reuters
Retail Sales Up 1.1% In June Census
0.4% Gain Excluding autos. May retail sales revised lower.
Still no panic in Detroit, or anywhere CBS MarketWatch
Wall Street uses 'upgrades' to defend withering stocks
The earnings investors base their valuations on could be wildly overstated Money
Taken for a ride Economist
The pay of chief executives can seem ridiculous. Often, it is
Drip, drip, drip CBS MarketWatch (Erdman)
Head-and-shoulders completed FT Investor
Bearish chart pattern suggests 600 point drop on S&P 500
White Collar Crime And The Ongoing Economic Depression Gold-Eagle
Breaking Records--For Bankruptcies Fortune
Americans are raising the white flag as never before.
These 25 companies lost the most money in 2001 Fortune
Hedge fund managers run for cover as investors take aim SA Business Report
No Shame NY Post
Corporate disgrace hasn't cramped the high-rolling lifestyle of Tyco's ex-CEO, L. Dennis Kozlowski.
Growing scrutiny of Bush business record CS Monitor
Deficit Estimate Goes Up Again Washington Post
National debt clock is restarted in New York AP
A Month Most Mutual Funds Flopped Business Week
“...investors pulled an estimated $21 billion dollars out of stocks in the month of June alone. This month, so far, they've taken out another $15.3 billion.” CBS
(Trimtabs)
“During the quarter, the company’s U.S. domestic package business experienced declines in package volume that accelerated as the quarter ended...” UPS
Thursday July 11
Bear market one of most painful yet MSNBC
Forget Enron - Congress is even worse Scripps Howard NS
In fiscal 2000 and 2001, the federal government increased total debt to another record high while claiming a surplus...
Gold gain points to market meltdown CBS MarketWatch
Will the bear maul the economy? CNNfn
SEC opens Bristol-Myers investigation Financial Times
WorldCom Leased Jet to Director for $1 Washington Post
No Cheer in Japan over America's Woes Business Week
Tokyo Nikkei closes 2.5 pct down in broad decline Reuters
Wednesday July 10
Bear market one of most painful yet MSNBC
Living With 1999's Evil Twin TheStreet
The Cycle of Deflation Comstock
Banks to Close NextCard Accounts AP
Some of NexCard Inc.'s 800,000 customers may be surprised when they try to swipe their Visa cards Wednesday — federal regulators are closing all accounts as a result of the online credit card issuer's financial failure.
The Risk of Financial Accidents Morgan Stanley (Roach)
A policy response, which may seem appropriate in the post-bubble era, cannot atone for the blunders that gave rise to the bubble itself.
Earnings, Earnings, Earnings Comstock
Would You Keep Investing In An Enterprise That Was Just Throwing Parties With Your Funds? Northern Trust
Judicial Watch suing Vice President Cheney Reuters
Moody's expects pressure on CDO Financial Times
Property market takes a beating WSJ
Corporate scandals mean problems for landlords
The hidden costs of stock options Globe & Mail
Hussman Hotline Update Hussman
I've noted before that I don't understand why Fannie Mae trades at all...
A grim scenario gains currency IHT
Dollar's rapid fall must be checked: Shiokawa Japan Times
Since there is a (pessimistic dollar) tendency, we must prevent the dollar from reaching that level by all means
Argentines protest in 'day of rage' BBC
Another Big Charge for AOL? BusinessWeek
Stocks do S&P shuffle CNNfn
“What did Enron in, and what at least almost did WorldCom in, was the sheer inability to keep paying the bills for huge debts. Accounting tricks were merely a cover-up to buy time (and postpone being fired) by hiding the problems. If we expect too much from accounting, we are sure to be disappointed. When there is a cyclical collapse in profits, firms with big debts go bankrupt...” Alan Reynolds NP
Tuesday July 9
Text of Bush Corporate Crime Speech AP
If the Fed didn't exist… GoldenBar
A central bank is to capitalism what the Trojan horse was to the mythological city of Troy. It's not a safety net, but rather a tool for plunder
THE GREAT CRASH OF 2002 321gold
The plan to reform Corporate America Financial Post
Clean Up Your Act or the Bull Gets It NY Post
TO: Wall Street, corporate and Washington fat cats.
From: Angry investors.
If you want your bull back alive, here are a dozen demands.
The Bear's Lair:Exponential or asymptotic? UPI
Fed Research Is Window Into Greenspan's Thinking Bloomberg
How can a model that never predicts growth in the U.S. correctly predict growth in Japan with another 200 basis points of easing?
Pimco's Gross Says Hedge Funds' Sales Hurting Bonds Bloomberg
Goldman Says Fed Will Wait Until 2003 to Raise Rates Bloomberg
Falling dollar's far-reaching effect CS Monitor
Tourists and investors feel the pinch – and home-buyers might soon
Support grows for expensing options SF Gate
So far, only two companies in the Standard & Poor's 500 index -- Boeing and Winn-Dixie -- expense options.
Savings industry faces shake-up BBC
UK business failures on the rise BBC
The executive piggy bank Miami Herald
Merck's Accounting Raises Questions About a Stock Offering NY Times
Every Up-Tick Is Not A New Bull Market! Cornerstoni
On the Hill, a Taciturn Ebbers WP
Former WorldCom CEO's Silence Enrages Some Committee Members
Bush to seek jail time CNN Fraud Inc
Stewart's Broker Subpoenaed WP
'Telecom Junkie' Is Unmoved WP Grubman Sat In FT
Monday July 8, 2002
Numbers game and blame Denver Post
We are going to see an avalanche of (financial) restatements between now and the end of the year
Dollar Has Steepest Drop in Two Months Versus Euro Bloomberg
Merck booked $14 billion that it never collected Bloomberg
Noted economist saw this coming Dallas News
The Drumbeat of Systemic Risk Morgan Stanley (Roach)
With credit spreads widening, battered equities still tender, the dollar under pressure, and the Fed likely to hold its fire, the drumbeat of systemic risk is getting louder by the day.
Aim of the game for the Fed is to avoid deflation Independent
Central Bankers Are Only Human... Reuters
How many WorldComs does it take? Contarian Chronicles (Fleck)
The worst isn't over until everyone fears the worst is yet to come.
A Rally Crumbles, a Debt-Doomsday Warning Appears TheStreet
Fed Focus: Say A Prayer, He Won't Be The Pretender Pimco
Rich Lost $2.6 Trillion in 2001 Reuters
Recent scandals call regulators into question Denver Post
AOL Bonds Slump to Junk Levels, Cost of Default Insurance Rises Bloomberg
IBM's Cash Flow Is Weaker Than It Looks TheStreet
GATA Urges Congressional Support for Monetary Reform and Accountability Act on Gold Business Wire
The Stock Market: Beyond Risk Lies Uncertainty Federal Reserve Bank of St. Louis
Top fund manager sees stock markets halving Financial Times
Bears rule in the 2nd quarter Orlando Sentinel
Friday July 5
U.S. Stocks Surge Bloomberg
A money manager who overseas $7 billion heralds “It is time to jump into the market”
Employment Report BLS
A Time for Leadership Morgan Stanley (Roach)
Wall Street Still Over Its Head in Overhead TheStreet
Plunge Protection Gold-Eagle (Saville)
Creditworth Not Worth Much CFO
Foreign Direct Investment Slid 56% to $565 Billion in 2001 WSJ
New SEC Order Forces CEOs to Swear Firm's Numbers are Correct WSJ
A tear for Argentina's pension funds Financial Times
Flashback: September 7, 2000 - CPAs' Tricks May Burst Market Bubble Parish
Thursday July 4
Acts of individuals at root of most current problems in the markets Chicago Sun-Times
Rather than the markets failing, they are working
Papers' gloom over market crash BBC
Is the market set to crash? NewsWeek
Everyone Is Outraged NY Times (Krugman)
401(k) proves risky business Boston Globe
Mutual Fund Net redemptions soar National Post ICI
Pension Funds Plan to Sue Investment Banks Over WorldCom Bonds Dow Jones
Bush in shares embarrassment BBC
In 1990, when he was a Texas businessman, Mr Bush sold a large number of shares in the Harken Energy Corporation, just before the company announced news that made the share price fall.
Watching out for the great bear Economist
So far, the bear market has not had too dramatic an impact on America...
The short-term picture of world share prices BBC
The Picture that says it all
Wednesday July 3
Hedge fund manager warns of a derivatives time bomb Telegraph
Why It's Not A Bottom Comstock
A Bubble In Reverse Comstock
Swaps And Options: The Next Investor Time Bombs? Forbes
Bankruptcy Filings Continue to Surge Bloomberg
On the trail of the bear bottom CBS MarketWatch
Absolute Wealth Corrupts Absolutely Time
The boom of the 1920s spawned corporate misdoings that were ultimately unveiled when the economy fell to pieces. Sound familiar?
How many Enrons? More than people may think CSM
A new study shows that the Securities and Exchange Commission (SEC) finds mistakes in 25 percent of the public companies whose annual reports it looks at.
Double Whammy Cornerstoni
All of a sudden high yielding stocks are fashionable again.
Colorado on pace to set bankruptcy record RYMN
In 30 years in bankruptcy practice, I've never been busier than I am right now
AMD Cuts Sales Forecast Again Reuters
Shares slip deeper into abyss BBC
If we go through the Sept lows it could be a bottomless pit
Andersen's Top Clients Paid Twice as Much for Non-Audit Work Bloomberg
Pace of sales of patriotic items seen subsiding Business First
S&P takes action on Brazilian financial institutions Reuters
Brazil’s Foreign Debt Rating Cut Bloomberg
Brazil's real chalks up new record low BBC
President say sharp declines a "flagrant exaggeration".
Germany's Ver.di Says Bundesbank Should Sell Gold Bloomberg
Remaining U.S. CEOs Make A Break For It Satirewire
The mood is grim, and Wall Street is laughing Bloomberg
Tuesday July 2
Layoff Plans Rose 12 Percent in June Reuters
Grim and Bear It Fortune
Accounting 'scandal' threatens Vivendi BBC
Vivendi's master loses grip National Post
Fed’s To Finger Blodget & Co. NY Post
Pension funds move to curb conflicts WSJ
States Ready to Sue For Pension Losses Washington Post
On The Precipice Comstock
Bear still bullying the Baby Boomers National Post
Will It Work Again? GM, Ford offer big discounts WSJ
WorldCom wrecks Bush strategy UPI
Does anyone -- apart from Bush, his political strategy Karl Rove and his exceptionally complacent and inept team of economic advisers -- believe that business confidence sufficient to prevent a recession can be maintained in such a climate and with such policies?
The Trouble with Debt Ludwig Von Mises
Moody’s Boss Missed Call: B-School Dean NY Post
Foreclosures soar Rocky Mountain News
Cheap Gold GoldenBar
Bank retracts gold price-fixing report Telegraph
European Business, Consumer Confidence Fell in June Bloomberg
Currency intervention costs 3.3 trillion yen Japan Times
Monday July 1
Double-Dip Tedium MS (Roach)
Double Trouble Contrary Investor
Fannie Mae Distorts Markets Ludwig Von Mises
Quo Vadis Greenback? Gold-Eagle
Where are the stars? Boston Globe
Patience, Patience Newsday
Oracle counts on trader gullibility Money (Fleck)
The prophet whose warnings over Wall Street were ignored Independent
Musical Chairs Financial Sense
America counts the cost of betraying our trust Telegraph
Accounting concerns focus on GE BBC
Big-buck scandals smack small-town America CS Monitor
Retirement boom? Not likely CS Monitor
Ayn Rand’s Hymn To Money Gold-Eagle
End Game as Nasdaq Tide Goes Out Reuters
The cheerleaders on Wall Street are finally realizing they've flown their clients into the eye of a huge storm.
Weekend
Stock Market Stinker NY Post
Computers and Tech Stocks 321Gold (Zeal)
Central banks sell yen on Japan's behalf National Post
Bush scolds big business Globe & Mail
Tech firms let $10 billion slip away CBS MarketWatch
CEOs Open Treasury for Themselves Bloomberg
Tweaking Numbers to Meet Goals Comes Back to Haunt Executives NY Times
Soros blames "Bush factor" for dollar's fall Reuters
Friday June 28
Accounting panic hits Xerox BBC
Personal Spending Drops In May (-0.1%) - Savings Up BEA
That '90s boom? It seemed so real at the time CS Monitor
So why did the SEC fail American investors? Independent
Former SEC boss admits reforms were stymied by intense lobbying on Capitol Hill
How far to the bottom? CNNfn
WorldCom's Tumble Leads Junk Bonds to Worst Monthly Showing Bloomberg
Accounting worries hit Kwik-Fit sale BBC
Companies stop spending (UK) BBC
SEC reported probing 'number of' audit cases Bloomberg
There may well be audit-independence cases coming down soon, including some involving the Big Five Four accounting firms
GOP Pushes $450 Billion Debt Limit AP Debt To the Penny
If we're doing so good, if this plan is working so well, how come we're broke? Rep. Marion Berry
Uncle Sam's Audit Gap Forbes
Worldcom Aching Banks NY Post
How much new money do they have to lend WorldCom to get their old money back? Related
Bankers Charged with Enron-Related Fraud Reuters
Ex-Royal Bank trio charged with fraud National Post
Martha Stewarts New Show (Humour)
Pensions scandal costs £11.8bn BBC
Program Trading Hits Record High -- Averaged 44.9% of Volume (June 17-21)
NYSE Historical
Brazil's Bonds, Currency Surge as Soros Calls for World Support Bloomberg
Bank of England warns of risks BBC BOE Financial Stability Review
Thursday June 27
1Q01 GDP Up 6.1% BEA
House of Mirrors Morgan Stanley (Roach)
Washington statisticians seem poised to join the restatement sweepstakes with a stunning rewrite of the recent performance of the US economy
Losing faith in the US miracle Financial Times
UPI Exclusive: Greenspan and the Devil UPI
Economists see 'negative' bubble Boston Globe
Late rallies rouse suspicions CBS MarketWatch
Worldwide web of debt unravelling Telegraph
Global Mergers Decline to Lowest Level in Five Years Bloomberg
Dollar slides to brink of free fall Independent
Are Others Rotten to the Core? NY Post
The death of confidence CNNfn
Are we a nation of greedy cheaters? MSNBC
Public Pension Losses on WorldCom Securities May Exceed $1 Bln Bloomberg
US O'Neill: SEC Needs To Go After Money In Fraud Cases Dow Jones
We want the law to be strong enough so that the SEC could go in and freeze accounts and freeze assets
GM falls amid rumors of accounting problems - GM Denies Rumors Reuters
Motorola to Cut 7,000 Workers Bloomberg
Cap Gemini to Eliminate 5,500 Jobs as Demand Slumps Bloomberg
We can no longer wait for a hypothetical recovery at some point in the future
Playboy's 'Women of Enron' Issue Out AP
Markets In Crisis (info page) CNNfn
Wednesday June 26
FOMC Statement FDRB 2:15 PM
Worldcom Bomb NY Post
It's going to be a tough day for WorldCom
Markets: WorldCom cracks confidence Globe & Mail
Tokyo's Nikkei average tumbled 4 per cent to close at a four-month low... Dealers said the FT-SE now looked poised to topple through September's four-year low of 4,219.8.
Point by falling point, stock losses sap economy's spunk CS Monitor
If they all (foreign investors) ran for the door at the same time, and started to sell Treasury bonds, it would be too much for the economy to bear
The S&P 500 is a mutual fund – and a bad one MSN
Corporate Scandals Taking Toll on Markets Washington Post
Dilemma for fund managers over conflict of interest Smithers
Ellison Warns BBC
Biggs Touts ‘Double Bottom’ Business Week
Poll finds wealthy wary about economy Reuters
NASD fines Piper Jaffray $250,000 WSJ
Japan's Choices AEI
Tuesday June 25
WORLDCON
“Our senior management team is shocked by these discoveries” WCOM PR
Consumer Confidence Declines Four Points Conference Board
Consumer confidence in posted its largest one-month drop since after Sept. 11
Score one for the bears CNNfn
Adelphia Communications Seeks Bankruptcy Protection Bloomberg
Greenspan runs out of answers DT
Profits: Dubious milestone CNNfn
The Bear's Lair: Decline's strange shape UPI
Jack: It’s Capacity, Stupid! NY Post
2003 is too soon for telecoms Financial Post
IBM's got the Big Blues CNNfn
Without Trust, Free Market System Won't Work Bloomberg
Monday June 24
The Trees or the Forest? MS (Roach)
...my macro lens continues to see the movie of the 1990s running in reverse.
Don't be so sure rate-setters have secured recovery Independent
O'Neill Calls U.S. Corporate Scandals an `Outrage' Bloomberg
Jan 14 - Enron's fall shows 'genius of capitalism' BBC
Debt-heavy will get splattered when real-estate bubble pop PI
Exploding myths that sap investors CBS MarketWatch (Calandra)
Will Savings Save Us? Ludwig Von Mises
Insurers Take Aim at J.P. Morgan WSJ
Dollar hits new two-year euro low BBC
Japan moves to stem dollar slide BBC
The Insiders NewsWeek
Martha Stewart Shares at All-Time Low Reuters
Brazil Bond Slips on Lula Debt Pledge Skepticism Bloomberg
What else would he’s say, they he is going to default? Lula Vowes Stability
U.S. banks have more than $25 billion in Brazil Reuters
Weekend
- Rich sell dollars, take shelter in hedge funds
- Stocks Face 3rd Down Year. Anyone for 4?
- Indexes May Fall Past Post-Sept. 11 Lows
- Lessons of The Past Are Not Working
- Dollar on the Rocks, Charts Show No Pause
- The bubble deflates UPI
Saturday June 22
Changing Preferences Financial Sense
The Velocity of Money & The Short Seller's Nightmare - Part 2
3 Former Rite Aid Officials Indicted Washington Post
Stewart's Broker Placed on Leave Washington Post
Gold believers wage war against dollar CBS MarketWatch
Real Rates and Gold 2 321Gold (Zeal)
Adelphia to seek protection Monday AP
Global Crossing Workers Say Documents Were Shredded Bloomberg
”we have no rabbits to draw out of the hat” Central Bank President Arminio Fraga
Brazil's Currency Hits All-Time Low AP
U.S. Would Oppose More IMF Brazil Aid, O'Neill Says Bloomberg
Nouriel Roubini Brazil Resource*
Friday June 21
Global Risks Are Mounting Morgan Stanley (Roach)
And so, once again, it all hinges on the ability of the once-proud American growth engine to save the world...
A giant thumbs down for stocks? Financial Post
Calpers considers selling shares to buy private equity
Boom-Era Valuations Are Creating Fake Stock Bargains TheStreet
Stocks and the Dollar Walk the Plank Together TheStreet
An economy singed Economist
What Earnings Recovery? Forbes
These guys simply look at the operating earnings delivered last year and add a large growth factor plucked out of the optimism in the air.
Double dip recession in U.S. feared National Post (Roach)
The Coming U.S. Dollar Implosion 321Gold (Alf Field)
The Stock Market's Next 10 Years Business Week
Insurer Refusing Some New Homeowners AP
Growth in insurance is not always a good thing
Economists warn of long-term impact of ballooning gaps MSNBC
NYSE Monthly Short Interest Report NYSE
2001 S&P Core Earnings Business Week
Here are traditional earnings (reported) and Core Earnings (based on S&P's analysis) last year for companies in the S&P 500-stock index
WorldCom throws debt weight at banks TheDeal
Brazil's Companies Face Cash Crunch as Bonds, Currency Tumble Bloomberg
Brazilian economy stumbles on Moody's ratings drop AP Moody’s
Idiots on Wall Street Crawling Out of the Woodwork Once Again SS
Thursday June 20
Dollar's woes threaten fiscal fabric CBS MarketWatch
Dollar takes it on the chin CBS MarketWatch
Lowering Our Sights on Global Trade MS (Roach)
Trade Deficit Hits Record in April Reuters
Helping Fat Cats Dodge the Taxman Business Week
On top of hefty compensation packages for top execs, many corporations pay their taxes, too, and pass the tab to shareholders
Poor management produces junk CBS MarketWatch
Bad corporate governance is producing an unexpected byproduct -- companies being downgraded to junk-bond status, according to a Pax World mutual fund manager.
A long Rant from a Major stock bear... 321Gold
U.S. Consumer Confidence Falls to 9-Month Low in Bloomberg Poll Bloomberg
Reader Can't Adjust to Having Bubble Burst TheStreet
Telecom market too crowded Financial Post (Canada)
States deem Microsoft 'thuggish' IHT
Nokia sharply cuts sales forecast, again BBC
Goldman's 2nd-Qtr Profit Falls, 7th Straight Drop Bloomberg
Morgan Stanley cuts GM, Ford on 2003 growth risk CBS MarketWatch
FTC filing lawsuit against Rambus AP
SEC Considers Charges Against ImClone AP
4,000 H-P contractors in limbo Cnet
Jun 19 Tech stocks tank Globe & Mail
Jun 19 O'Neill Warns of Debt Crisis Washington Post
Jun 19 11 September costs soar BBC
Jun 19 More Merrill Cuts New York Post
“Apple's numbers confirm that a recovery in the U.S. is still slow and may be delayed” Bloomberg
Jun 19 State owes $325m in tax refunds Boston Globe
Jun 19 Japan Stocks Decline 364 Points, Dollar Falls Against Yen AP
Jun 19 Germany's Teetering Banks Business Week
Jun 19 Argentina offers bonds for savings BBC
“The story that it is possible to isolate the Argentine crisis has no basis. In reality, it is generating contagion in the region ”
Jun 19 IMF moves to bolster financial resources of Argentina's neighbors Reuters
“Brazilian authorities said they would use the new IMF loan money as part of a program to help calm jittery financial markets”
Jun 18 A Comparison: 1974 And Now Comstock
Jun 18 It Looks Like the 1970s All Over Again on Wall Street NYP
Jun 18 Stopped Clocks? GoldenBar
Jun 18 Stock stillness St.Petersburg Times
Jun 18 System Failure Fortune
Jun 18 Still too much optimism -- and complacency CBS
Jun 18 Breaking the Bank NBO
Jun 18 SEC chairman sat out 29 votes Business Times
Jun 18 $5 Billion In Debt, XO Files Chapter 11 Washington Post
Jun 18 KirchMedia officially goes under TheDeal
Jun 18 'Fallen angels' to rival last year, says S&P Financial Times
Jun 18 Morgan Stanley Negative on IBM, Industry PC Sales TheStreet
Jun 18 Lehman Net Falls 31% for Fifth Drop in Six Quarters Bloomberg
Jun 18 Investors sell mutual funds Globe & Mail
Jun 18 Burgeoning Debt Worries in Brazil AP
Jun 18 Japan won't cut Botswana aid despite Moody's rating cut Japan Times
Jun 18 Bush war has heart of gold Russian Journal
Jun 18 A Top in Gold at $330 Financial Sense
Jun 17 Shares 'may crash to six-year low' The Observer
Jun 17 Missing Piece(s) to the Global Growth Puzzle MS (Roach)
Jun 17 For the markets, how far is down? Financial Post
“Why many analysts are still waiting for a 'cathartic' selloff”
Jun 17 Intel proves there's no such thing as a safe tech Money
Jun 17 Is Greenspan boxed in on interest rates? IHT
Jun 17 No Market Rebound Until Companies Come Clean WP
“The most negative interpretation of the market's decline is that the stock market is indeed a leading indicator; Wall Street is warning investors that a double-dip recession is ahead.”
Jun 17 Deficit now looks `well above $100 billion' AP CBO
Jun 17 More Firms Taking A Break In Summer WP
Jun 17 Pensions peril for millions as shares plummet Times
Jun 17 All is not OK with the 401(k) S.D. Union-Tribune
Jun 17 Cash drought exposes firms with weak roots IHT (NYT)
Jun 17 Greenback's slide likely to continue: poll Financial Post
Jun 17 Further Dollar Selling Seen Reuters
Jun 17 Cleaning Up The Street Newsday
Jun 16 Stocks: From Business to Funny Pages
“More people are now latching on to the idea that a speculative bubble that took years to create can't be undone overnight.” Reuters
Jun 16 Looking the other way TheStar
Jun 16 Plutocracy and Politics NY Times (Krugman)
“It's true that wages of ordinary workers roughly doubled over the same period (1981-2000), though the bulk of that gain was eaten up by inflation. But earnings of top executives rose 4,300 percent.”
Jun 15 Changing Preferences Financial Sense
Jun 15 NASDAQ 1929 Bears On 321Gold (Zeal)
“Either NASDAQ earnings must rocket or NASDAQ stock prices will plunge...”
Jun 15 Capitulation Remains Elusive HD Brous
Who's going to be buying stocks when you're going to hell in a hand basket?
Jun 15 Two-pronged worry for US shares Times
Jun 15 Shares plunge - and there's worse to come Times
Jun 15 Andersen guilty in Enron case BBC
Jun 15 Wall Street May Cut More Jobs in Worst Year Since `97 Bloomberg
Jun 15 More telecom job cuts expected Reuters
Jun 14 Samuel Waksal Pleads The Fifth Boston Globe
- Martha Stewart's dumping of ImClone stock questioned SF Gate
- ImClone, Bristol Had Discussed Vague Disclosure of FDA Ruling
Jun 14 The Greed That Is Ruining America Mirror.uk
Jun 14 Value confusion behind global equity bear markets BT
Jun 14 Whatever Happened to the Recovery Rally? NYT
Jun 14 Consumer Confidence Falls, Output Growth Slows as Recovery Falters
Jun 14 What Recovery? MS (Raoch)
Jun 14 Rotor Tilling Behind Bill's Tractor Pimco (McCulley)
Jun 14 What's Crippling Capital Spending? Business Week
“Stock options now account for 80% of executive compensation.”
Jun 14 Please understand this time it is truly different Prudent Bear
Jun 14 Futures tumble after Pakistan bomb blast, downgrade of wireless CNN
Jun 14 Glut of new cars could mean price war later USA Today
Jun 14 A price crunch in the PC industry MSNBC
Jun 14 Moody's Downgrades H-P's Debt TheStreet
Jun 14 Nikkei at 3-month low Globe FTSE hits fresh 8-month lows Reuters
Jun 14 Japan could be 'bankrupt within 10 years' Financial Times
Jun 13 May Retail Sales Down 0.9% -- Producer Prices off 0.4%
Jun 13 The Dirt a Bull Market Leaves Behind Business Week
“Boom periods and ethical lapses tend to go hand-in-hand. Why? Because raging prosperity breeds an "anything goes" attitude.”
Jun 13 A shrink muses on the market CBS MarketWatch
Jun 13 Financing of US debt not sustainable Business Times
“Reversal of capital inflows into US from Asia could precipitate a crisis.”
Jun 13 The Dirt a Bull Market Leaves Behind Business Week
“Boom periods and ethical lapses tend to go hand-in-hand. Why? Because raging prosperity breeds an "anything goes" attitude.”
Jun 13 A shrink muses on the market CBS MarketWatch
Jun 13 Financing of US debt not sustainable Business Times
“Reversal of capital inflows into US from Asia could precipitate a crisis.”
Jun 13 This upturn depends on where you are CS Monitor
Jun 13 US Equities: Supply Is Up But Demand Is Down NT
Jun 13 PCs Looking at a Second-Quarter Slide TheStreet
Jun 13 Wall Street Dive Stokes Gold Bulls GoldenBar
Jun 13 Searching for an honest CEO CBS MarketWatch
Jun 13 Expanding Without Managing NY Times
Jun 13 Former ImClone CEO Charged Washington Post
Jun 13 SEC launches formal probe of Tyco Boston Globe
Jun 13 Global Crossing's emperor of greed Fortune
Jun 13 Japan lawmakers grill Moody's over debt rating Business Times
Jun 13 New money for Argentina 'unlikely' BBC
Jun 13 Brazil dispels Argentine parallel BBC
Jun 12 Beige Book FDR
Jun 12 Tyco To Spin-off CIT -- Moody’s Cuts Debt To Junk Bloom
Jun 12 Watchdogs have slept on the job KC Star
Jun 12 Wall Street Sentiment Grows Gloomier Washington Post
“The other view, expressed by Abby Joseph Cohen of Goldman Sachs & Co., is that the economy is okay...”
Jun 12 Disappointing Second Half Likely For Technology Comstock
Jun 12 Not Your Garden-Variety Recession Daily Reckoning
Jun 12 The $24 Trillion Derivatives Monster Gold-Eagle
Jun 12 New rules would hold CEOs liable AP
Jun 12 Many Telecommunications Shares Remain Expensive Bloomberg
Jun 12 German Companies to Trim Investments, Jobs Bloomberg
Jun 12 Is This the Real Deal for Japan? Business Week
Jun 11 Limbo, Limbo, How Low Can It Go? Comstock
Jun 11 Insiders know an overpriced stock when they sell one CNBC
Jun 11 Sagging Dow casts doubt on US recovery SMH
“...first decline during the early stages of a recovery since at least the 1920s.”
Jun 11 Making the market safe for more Blodgets Financial Post
Jun 11 How to Calm the Wary Investor Business Week
Jun 11 Beware the Dropping Dollar Fortune
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Jun 11 Tyco Replaces Chief Lawyer ~ Downgrade of Debt WP
Jun 11 Tyco Accounting Investigation Revived by SEC Bloomberg
Jun 11 Nokia cuts sales forecast BBC
Jun 11 Debit Card Suit Allowed To Continue Washington Post
Jun 10 The Erosion Of Confidence Newsweek
Jun 10 Why stocks have flattered only to deceive Independent
Jun 10 Is greenback headed way of the pound? Financial Post
“...history is littered with currencies that have attained cult status only to be unceremoniously dethroned.”
Jun 10 Something Big in the Offing Depression.TV
Jun 10 Fed Fighting on Two Fronts Reuters
Jun 10 Water, water everywhere. . . 321Gold
Jun 10 'Overpriced' homes become debt traps CS Monitor
Jun 10 Where housing is called 'overpriced' CS Monitor
Jun 10 GE Default Insurance Soars as Banks Rush to Hedge Bonds, Loans Bloomberg
Jun 09 Downturn has shaken index funds Journalnow
Jun 09 Far From Wall Street, Intel's Bad News Was No Surprise NY Times
Jun 09 When Everything Is Made in China Businessweek
Jun 08 Stocks in deepest funk 'in 30 years' Financial Post
Jun 08 Tyco Bought Manhattan Apartment, Sold It to Kozlowski's Wife Bloomberg
Jun 08 Adelphia kept 2 sets of books WSJ
Jun 08 A Poke at Merrill's Black Eye Washington Post
Jun 08 Buffett Doesn't Foresee Stock Returns Like In '80s-90s DJ (CNBC-TV)
Jun 08 Home Insurance Rates Up Sharply Washington Post
Jun 07 Don't Worry ~ Be Happy! Financial Sense
Jun 07 When Options Count, Profit Slump Widens Bloomberg
“Cisco Systems Inc. reported $21 million in income from operations last year. The biggest networking-equipment maker would have had a loss of $2.8 billion had it included the cost of stock options granted to employees.”
Jun 07 US credit card debts soar BBC Consumer Credit
Jun 07 Unemployment Rate Falls To 5.8% BLS
- Payrolls weaker than expected (+41K).
- Previous months payrolls revised lower for the 8th straight month.
Jun 07 Moody’s Cuts Sprint - Williams - Tyco
Jun 07 Jobless dip doesn't spell recovery UPI
Jun 07 Regulators Draw From Audit Firms Washington Post
“The fellows have been a fantastic resource but there's no question there's this conflict (said POB backer Turner)”
Jun 07 Tearing at the Fabric of Globalization MS (Roach) OECD
Jun 07 Long-term 9/11 fallout may be costly WSJ
Jun 07 N.Y. Facing $16 B Debt After 9/11 NY Post
Jun 07 Accountants Are Reviewing Old Audits, Searching for Red Flags NY Times
Jun 07 Is a house a better bet than stocks? MSNBC
Jun 07 Tyco Offering of CIT Unit Held Up by SEC, People Say Bloomberg
Jun 07 A Letter from Argentina 321Gold (Ackerman)
Jun 07 Argentina's ex-finance chief freed BBC
Jun 06 When Scandal Isn't Sexy Fortune
Jun 06 Telco debt now exceeds S&L, junk bond levels FP
Jun 06 The Airlines' Recovery Is Stalling Business Week
“...after traffic improved every month from October to March, it worsened in April and for the most part, the reports for May are coming in weaker than expected.”
Jun 06 Tech companies raise reserves for bad debts USA Today
Jun 06 NYSE: Report of Corporate Accountability and Listing Standards Committee
“Mandating that shareholders vote on all equity-based compensation plans, including stock option plans.”
Jun 06 Capitalism's black eye may hit us all CBS MarketWatch (Calandra)
“Once you lose faith, it can take 20 years to regain it.”
Jun 06 Greenspan's Oasis Is Just 10,000 Miles Away Bloomberg
Jun 06 Too Little Confidence and Too Many Shares TheStreet
Jun 06 Why gold tanked Mining Web
Jun 06 Goldman CEO calls for U.S. accounting crackdown Reuters
Jun 06 El Paso Mystery NY Post
Jun 06 Moody's cuts Adelphia, sees "imminent" bankruptcy USA Today
Jun 06 Retailers challenge Visa, Mastercard over fees WSJ
Jun 06 Capital spending down in January-March Japan Times
Jun 05 Revisiting Graham and Dodd MS (Roach)
Jun 05 Twin Bubbles Golden Bar
Jun 05 Will stocks go nowhere for years? MSNBC
Jun 05 Is The Declining Dollar "Checkmate" For Greenspan? NT
Jun 05 Foreign Investment in U.S. Drops Washington Post
Jun 05 All eyes on GE as shares test key level Financial Post
Jun 05 Lovely Parting Gifts Washington Post
Jun 05 The False Promise of Wall Street Reform Bloomberg
Jun 05 Solly Exec Charged With $20M Fraud NY Post
Jun 05 Job cuts hit fast pace in June CNNfn
Jun 05 WorldCom Considers 16,000 Job Cuts Reuters
Jun 05 Williams, Avista Shares Fall on FERC Warn Reuters
Jun 04 State tax collections tumble WSJ
Jun 04 Greed Is Bad NYT (Krugman)
Jun 04 A user's guide to U.S. stock disasters Financial Post
Jun 04 A Prime Example of Anything-Goes Executive Pay NYT
Jun 04 The Bear's Lair: The real Decade of Greed UPI
Jun 04 Capitulation Phase May Be Near Comstock
Jun 04 Gold Tops $330 for 1st Time in 2 1/2 Years Bloomberg
Jun 04 What The Gov’t Does After Finding $20 Bill in Bad Payments NY Post
Jun 04 BOC raises overnight rate target by 0.25% to 2.5% BOC
Jun 04 Hewlett-Packard CEO Fiorina sees 15,000 job cuts Reuters
Jun 04 High court beefs up SEC's antifraud powers AP
Jun 04 Lawmaker wants detail from JP Morgan on Enron loans Reuters
Jun 04 Tyco needs to shed finance unit or face deadly crash crunch Boston Globe
Jun 04 Knight Trading Faces Allegations That It Violated Rules WSJ
-- Nasdaq to cancel accidental trades in Knight USA Today
Jun 03 The Corp. Of The Problem Contrary Investor
Jun 03 The Dollar Bubble MS (Roach)
Jun 03 Corporate insiders are selling CBS MarketWatch
Jun 03 Sun May Be Setting on U.S. Economic Leadership Bloomberg
Jun 03 Still pricey, even in a weak market CBS MarketWatch (Kellner)
Jun 03 How Big Is the Options Bite? Fortune
Jun 03 Don’t Wait Up For the Party NewsWeek
Jun 03 Cloudy Forecast NY Post
“Summer is not looking too good for investors in U.S. stocks”
Jun 03 Survey: Consumer optimism fading UPI
Jun 03 Bankers' boom valuations are attacked Financial Times
Jun 03 Awaking from 20-year hibernation Daily Telegraph
Jun 02 What If Investors Won't Join the Party? NY Times
Jun 01 The Sum of My Fears Financial Sense
Jun 01 Dying a Death of a Thousand Cuts Prudent Bear
May 31 As dollar drops, economists worry MSNBC
May 31 As dollar drops, economists worry MSNBC
May 31 Watch out for vanishing profits MSNBC
“...after years of pumping up profits with accounting gimmicks, a big chunk of profit gains will likely disappear when new, stricter accounting standards are applied.”
May 31 Pension titan may sell up to $3B of holdings on fears stocks may underperform for most of decade Financial Post
May 31 Who Wants to Buy Stock? Not the Insiders NY Times
May 31 What If the Dollar Crashes? MS (Roach)
May 31 Dollar Aided by Yen-Selling Intervention Reuters
May 31 Citigroup subpoenaed over Dynegy WSJ
May 31 Analysts drop Japan to 'Latvia status' BBC
“The Japan government's current and anticipated economic policies will be insufficient to prevent continued deterioration in Japan's domestic problems.(Moodys)”
May 31 Japan and A Dollar Crash Scenario MS
May 31 Gold Mines Exposed Financial Times
May 31 When Cash Flow Lies Morningstar
May 31 Delist, default hit Adelphia CBS MarketWatch
May 30 A haven no more CBS MarketWatch (Erdman)
May 30 Market Top Looks Ominous Comstock
May 30 Trading bypasses Wall St. IHT (Bloomberg)
May 30 White House wants new Fannie, Freddie rules Reuters
“...voluntary compliance might be abandoned at a time when it is most needed.”
May 30 State may need up to $1 billion to cover budget shortfall AP
May 30 AT&T Nearly Junk NY Post
May 30 Only eight companies receive AAA debt rating USA Today
May 30 Merrill may just have buried itself Financial Post
May 30 Profits up, but doubts remain WSJ
May 30 Lay Away Plan CFO
May 30 NYSE Monthly Disciplinary Report NYSE
May 29 Dollar's Wobbly Foundation Becomes Apparent Bloomberg
May 29 The Face of Botox Economics JWR
May 29 Recovery Pace Is Slowing Washington Post
May 29 Pondering the Earnings Trajectory Ms (Roach)
May 29 Popping New York Manhole Covers Rattle Markets Reuters
May 29 The Face of Botox Economics JWR
“Although Skilling wouldn't exactly put it this way, he seems to be saying that if only Enron's lenders hadn't learned about the company's mounting debt, or if they hadn't cared, everything would still be all right...”
May 29 Recovery Pace Is Slowing Washington Post
May 28 Pondering the Earnings Trajectory Ms (Roach)
May 29 Consumers Growing Impatient? Conference Board
“24.9% look for business conditions to improve, compared with 26% in April...”
May 29 Gold bulls see further dollar decline CBS MarketWatch
May 29 Where options belong Financial Post
May 29 SEC Probing Halliburton (Cheney Accounting Change) Bloomberg
May 29 Conseco’s Rating Cut by Moodys NY Post
May 29 Intel gouges desktop P4 prices The Register
May 29 First Argentina, Now Brazil? MS
May 28 Billions Lost by Feds NY Post
“the government last year misplaced an incredible $17.3 billion because of shoddy bookkeeping.”
May 28 Where’s The Boom? NY Times (Krugman)
“Those confident declarations, several months ago, that our troubles were over look pretty foolish now.”
May 28 The Bear's Lair: 'Bear Food' -- third meal UPI
May 28 Big Mac Attack Smart Money
May 28 U.S. Corporate Profits Too Weak To Give Big Stimulus Industry Week
May 28 The 911 Scapegoat GoldenBar
May 28 Banks' telecom exposure leaves shivers Globe&Mail
May 28 States Consider Measures to Limit Auditors' Services Washington Post
May 28 Why 'insider' stock trades may soon be much easier to track CSM
May 28 BIS Quarterly Review June 2002 BIS - Banks' overseas yen assets plunge Japan Times
May 27 Investors losing faith in market Mecury News
May 19 Which CEO's Greed Scared Off Buffett? Bloomberg
“Buffett and Munger dumped their shares in some company after they saw what the CEO was paid. ``We felt we couldn't stomach it,'' Buffett said.”
May 19 Pitt Met With Xerox Chairman Reuters
May 18 Rogue Waves & Standard Deviations - Part 2 FS
May 18 Fed Proposal Would Remove 'Stigma' From Discount Windows WP
--- Proposed discount window restructuring FED
May 18 Fast, Furious Rallies May Be Mirage Reuters
“The savage beating most stocks suffered recently has made investors desperate for any good news”
May 18 The Valuation Conundrum Smart Money
May 18 Stock 'Inflation' Keeping Lid on Rallies Reuters
“The dilemma created by rampant share expansion is that companies and investors now need to run harder just to stay in place.”
May 18 Buying American? Maybe Not Washington Post
May 17 The Case for the Double Dip MS (Roach)
May 17 Derailing the American Consumer MS (Roach)
May 17 Buy! (I Need the Bonus) Times
“A widening probe of stock analysts shows how they have long played average investors for chumps.”
May 17 Bye-Bye, 'BUY'? Instituational Investor
“Wall Street remains, astonishingly, as bullish as ever.”
May 17 Stock Analysts' Dirty Little Secret TheStreet
“The real skinny is that virtually no one who matters in the investment industry ever took nine-tenths of research reports seriously. Only the public did.”
May 17 Three-Year Mission? FASB to Redefine Revenues CFO
May 17 EU throws down gauntlet to Bush as steel wars hot up Times
May 17 Bankruptcy filings at record levels AP
May 17 Adelphia’s Sinking NY Post
May 17 Biovail demands probe of bank analyst Globe & Mail
May 17 Dissent At The BOE BBC Dissenters Are a Dying Breed at Fed Bloomberg
May 16 Wake Up and Face Facts - the '90s Are Over Street
May 16 Joseph Granville's Profits of Doom Business Week
May 16 3 Ex-Chiefs Discover Perils of Borrowing and Believing NY Times
May 16 Silence May Not Be Golden At JPM NY Post
May 16 SEC broadens accounting probe WSJ
May 16 Maria’s Big Mouth NY Post
May 16 FBI Investigating Kmart Reuters
May 16 US 'protectionism' condemned BBC
May 16 Japan: Set to Retaliate on Steel Tariffs Reuters
May 15 Losing Control Cornerstone
“What if the Fed acted and nobody listened?”
May 15 Plastic for a Bull Market Kiplinger
“The latest card gimmick: rebates that go straight into stock mutual fund shares.”
May 15 U.S. probes currency trading WSJ
May 15 Inefficient Markets GoldenBar
“The crackdowns are well under way. Regulators are all over Wall Street's mess.”
May 15 New law gives firms huge tax break SF Business Times
May 15 Consumer Prices Up 0.5% in April BLS
May 15 Treasury Will Move Money Around to Pay Government's Bills WP
May 14 U.S. Treasury Website Reveals $ Half-Trillion Deficit NY Post
May 14 S&P to Use Tougher Earnings Standards Washington Post
“Standard and Poor's analysts plan to discuss how the adjusted earnings calculations would impact General Electric Co., Cisco Systems Inc. and Tricon Global Restaurants Inc. at a press briefing Tuesday.”
May 14 Yikes! My Stock's in Single Digits! Fortune
May 14 Breaking Vicious Circles MS (Roach)
May 14 Argentina mulls state land sell-off BBC
May 14 Accounting Reforms Won't Add Up Unless Stock Options Are Addressed WP
May 14 Energy Trader Admits Faking Transactions NY Times
May 14 Duncan knew he was acting illegally AP
May 13 US companies face new pressure on stock options Financial Times
“Standard & Poor' will announce on Tuesday that it will change its assessment of corporate performance to take into account the cost of stock option awards.”
May 13 Breaking the Banks Fortune
“...the SEC, clearly embarrassed by Spitzer's crusade, is anxious to show renewed zeal in punishing wrongdoing on Wall Street.”
May 13 Why Companies Fail Fortune
“Each month seems to bring the sound of another giant crashing to earth”
May 13 Money Show plays to subdued yet hopeful crowd Bostong GLobe
May 13 Goldman Ran IPO Scam, Trader Says NY Post
May 13 Firms remain wary of the whole truth IHT (WP)
May 13 Argentina Drops Plan to Convert Deposits Into Government Bonds Bloomberg
May 12 Surf's up in the stock market National Post
May 12 Massive Daily NASDAQ Rallies Zeal
May 12 They See The Light NY Post
May 12 Pollyanna Pensions Forbes
“Some companies are pumping up profits with optimistic pension-plan assumptions. Be wary of them.”
May 11 Half of Argentines below poverty line BBC
May 11 Will Wall Street Become a Regular at the Courthouse? NY Times
May 11 The US recovery is in doubt: How much longer can Greenspan walk on water? Independent
May 11 Gold rush could signal trouble USA Today
May 11 Report: Bad loans at Japan's major banks hit record high AP
May 10 Common Cause Calls for The Resignation of SEC Chairman Harvey Pitt
”Mr. Pitt has demonstrated a pattern of actual and apparent conflict of interest. This pattern undermines citizen and investor confidence”
May 10 SEC's Pitt Calls Spitzer's Stock-Analyst Plan `Very Drastic' Bloomnerg
Repost: March 24 The Pitt Bull With No Bite FallStreet
May 10 SEC chief dismisses resignation demand Reuters
May 10 Kate Jennings remembers hypocrisy on Wall Street Financial Times
May 10 Senior Loan Officer Opinion Survey on Bank Lending Practices FED
“Results indicate some further tightening of standards and terms for loans to both businesses and households.”
May 10 To these, the spoils Economist
May 10 Cramer's Troubles Could Get Worse Forbes
“His nemesis, disgruntled former employee Nicholas Maier, is turning out to be a bigger thorn in Cramer's side than we predicted.”
May 10 IBM to Cut as Much as 3% of Workforce, or 9,600 Jobs Bloomberg
May 10 Financial crisis likely to force state to borrow $1 billion Star-Ledger
“New Jersey is about to run out of cash and will likely require an unprecedented loan of up to $1 billion to pay its bills before the budget year ends next month.”
May 10 Canadian First-quarter profits slide another 36% National Post
May 10 Argentine Congress fights for funds BBC
May 09 Moody's Cuts WorldCom to Junk Reuters
May 09 Central bankers turn blind eye to key pressures Financial Times
May 09 The Empty Truth about Bankruptcy Stock Business Week
“There's a mystique about stocks of bankrupt companies. They always seem to trade, though nobody can give any reason why they should.”
May 09 Two Other Firms Took Part in Enron Power Scheme DJ
May 09 Barrick cuts hedging Financial Post
May 09 Cisco’s Earnings Report Viewed As Shell Game NY Post
May 09 AOL Bonds Trade Barely Better Than Junk Reuters
May 09 SEC Approves New Rules for Stock Analysts Reuters
May 08 The bottom? Wait until most techs are under $3 Money (Fleck)
“...an ingrained optimism (and a desire for a higher stock price) has led people in and out of corporate America to try to jumpstart the recovery by incessantly proclaiming a bottom.”
May 08 Missouri Stops Payments of Tax Refund Checks LA Times
“The Department of Revenue estimates that 26% of those taxpayers who are owed refunds are caught in the limbo.”
May 08 Workers Shortchanged, Pension Audit Finds Washington Post
May 08 Productivity -- all and nothing UPI
“Today's productivity numbers are being applauded by Wall Street economists. But, as oracle Greenspan, a former fan of the productivity series admits, they may not tell us much.”
May 08 Greenspan and the shadow UPI
May 08 Merrill, Goldman Bond Default Insurance Soars Bloomberg
May 08 Revisionist View of the Great Depression Safe Haven
May 08 The Broker's Dilemma GoldenBar
May 08 Time for caution, not imprudent optimism Japan Times
“...it is fair to say that Tokyo stocks, standing on extremely risky fundamentals, are oddly strong nowadays.”
May 08 BIS consolidated international banking statistics for the fourth quarter of 2001 BIS
May 07 FOMC Statement FED
May 07 Enron Papers Show Manipulation of California Crisis Washington Post
“documents show internal corporate strategies for manipulating the market”
May 07 Moody’s warns on bankers’ probe Reuters
“Any indictments could result in ratings cuts”
May 07 Derivatives may be the real bomb CBS (Calandra)
May 07 10 Questions With Prudent Bear Fund Manager David Tice TheStreet
“We're moving from the virtuous circle of the past five years to a vicious cycle. I wish Alan Greenspan could snap his fingers and make it go away, but he can't.”
May 07 P/E Ratios--Why The Confusion? Comstock
May 07 Pitt Defends Meeting With KPMG Chairman Washington Post
May 06 Despite Appearances, Economy Is Still Shaky NY Times
May 06 The Fed versus the ECB MS (Roach)
May 06 Wall Street Workers Face Worst Job Market in 25 Years Bloomberg
May 06 Insiders to Investors: Look Out Below! TheStreet
May 06 Is the stock market double dipping? Examiner
“...the switch from loving stocks to hating them is usually a slow process”
May 06 Buffett Lashes Accounting Practices Reuters
May 06 Buffett Predicts nuclear attack in U.S. AP
May 06 Requiem for an Honorable Profession on Wall Street NY Times
May 06 Oracle money went to many politicians with hands in pact SF Gate
May 06 When is an expense not an expense? Globe & Mail
May 06 Selling Begets Selling in Bond Market Reuters
May 06 Argentina inflation soars BBC
May 05 How Corrupt Is Wall Street? Business Week
May 05 How bulls jumped over Chinese walls Observer
May 05 Felix Rohatyn on Wall Street's Corruption Business Week
May 04 The Bundling of Risk and Dollar Vulnerability Prudent Bear
May 04 MZM Growth Plummets 321Gold (Zeal)
May 04 'Locust Cycle' May Bug Street for Years Reuters
“Stock certificates can make colorful wallpaper for downstairs bathrooms and constant reminders to be more careful in the future.”
May 04 Study: Hedge Funds No Shelter From Storm Reuters
May 03 Greenspan: Options Rules Need Changes Reuters
“I fear that the failure to expense stock option grants has introduced a significant distortion in reported earnings”
May 03 Debating the Current Account MS (Roach)
May 03 'Stupid White Men on Wall Street' CBS MarketWatch
May 03 Unemployement Hits 6% for first time since 1994 BLS
May 03 Window of Ignorance NY Times
“The latest budget news is worse than even the most dour pessimists had thought possible. But the unfolding fiscal disaster hasn't yet penetrated the public's consciousness and the administration is trying to exploit that window of ignorance.”
May 03 A Crumbling Earnings Foundation Comstock
May 03 CEOs: Fallen idols Economist
May 03 Can stocks avoid strike three? CNNfn
May 03 Losing a Virtual Fortune LA Times
“While Enron Corp. and Global Crossing Ltd. have been grabbing headlines for financial chicanery, the tech community is quietly awash in its own accounting scandals.”
May 03 Watchdog warns of perils of credit derivatives Reuters
May 03 Growing Crisis Leaves Argentines Feeling Helpless Washington Post
May 02 Investors Still Too Complacent Comstock
May 02 April pink slips up 10%: Challenger CBS MarketWatch
May 02 Scandals shred investors' faith USA Today
May 02 US Portfolio Flows Update -- Precarious Underpinnings MS
“...there is nascent evidence that foreign investor appetite for US securities is not what it used to be.”
May 02 The Wildcatter’s Wildcard Prudent Bear (Hastings)
May 02 How Wall Street's Analysts Fooled Public On Verisign NY Post
May 02 O'Neill: Market Debate On Dollar `Irritating Sideshow' Dow Jones
May 02 Lehman, J.P. Morgan Fire Investment Bankers as Profit Falls Bloomberg
May 02 Fiber-Optic Overdose Racks Up Casualties Washington Post
May 02 Americans: How to wave yellow flag CBS MarketWatch
May 02 Dollar Falls to 8-Week Low vs Yen on Signs of Faltering Growth Bloomberg
May 01 Only Time Will Tell HD Brous & Co
May 01 O'Neill ‘Convinced’ Economy Sound Reuters
May 01 ISM Manufacturing Report Suggests Rebound Slowing ISM
“Manufacturing employment continued to decline in April for the 19th consecutive month.”
May 01 So Maybe Things Aren’t That Great Philly
May 01 Banks Curb Corporate Loans in Steepest Decline in 30 Years Bloomberg
May 01 SEC seen asking 10 firms for data Boston Globe
Apr 30 Credit Card Delinquency Soars CardWeb
Apr 30 Why Economic Recovery Looks Good, But Feels Bad NY Post
Apr 30 New Cause for Caution on Stocks Time
Apr 30 "A Different Kind of Recession" Business Week
“First Call's Charles Hill explains why the tech sector, Enronitis, and accounting cast a shadow over the recovery's strength”
Apr 30 WorldCom's CEO Ebbers Quits, Sidgmore Takes Over Bloomberg
Apr 30 The Bear's Lair: Time to start screaming! UPI
Apr 30 Market Wears Signs of a Janus Panic TheStreet
Apr 29 The Recovery’s Soft Underbelly NewsWeek
Apr 29 Analyst: Recovery may be limited USA Today
“The analytical case for a double-dip (recession) is actually more compelling today than it was at the first of the year.”
Apr 29 No Pricing Leverage MS (Roach)
Apr 29 Government Fails Fiscal-Fitness Test Insight
“...the U.S. government doesn't cook its books — the government is honest enough to admit that it just doesn't know where the money went.”
Apr 29 Dollar drop a danger sign for stocks CBS MarketWatch
“Foreigners buy the big caps, the well-known names, the S&P 500. If a declining 'market' and a declining dollar causes some foreign exit, it will be the S&P 500 that they're exiting”
Apr 29 Ignore tech fantasies and analysts' fairy tales CNNfn (Fleck)
Apr 29 Belaboring The Point Contary Investor
Apr 29 Has the Recession Started Yet? AEI
Apr 29 After the Bust, It's Time for Payback LA Times
May 01 Banks Curb Corporate Loans in Steepest Decline in 30 Years Bloomberg
May 01 SEC seen asking 10 firms for data Boston Globe
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