Christopher Condon and Craig Torres, Bloomberg Published 10:12 am PST, Wednesday, December 26, 2018 President Donald Trump may get the Federal Reserve interest rate-hike pause he wants as his attacks on the Fed and the government shutdown roil stock markets and shave 2019 forecasts for economic growth. The S&P 500 fell 2.7 percent on Christmas Eve, bringing U.S. stocks to the brink of a bear market after a drop of almost 20 percent from a September peak. Shares rallied Wednesday, snapping a four-day losing streak. The latest drop came after Bloomberg News reported Dec. 21 that the president had discussed firing Fed Chairman Jerome Powell following the central bank's Dec. 19 decision to lift interest rates for the fourth time this year. Fed officials accompanied the hike with a signal they would likely slow the pace of increases in 2019. Still, they offered a strong economic forecast, penciling in 2.3 percent growth for next year, according to their median estimate. … [Read more...] about Trump’s self-inflicted economic damage may prompt Fed pause
Julia s powell
Leading the Past Week Congress returned from a two-week recess and the President finally released his FY14 Budget, which was immediately attacked by friend and foe alike. Some view this bipartisan attack as a sign that the President made a real effort to offer a framework for serious negotiation. Later in the week the President met with fifteen CEOs from some of the largest financial institutions, including: JP Morgan CEO Jamie Diamond, Goldman Sachs CEO Lloyd Blankfein, AIG CEO, Bob Benmosche, Citigroup CEO Michael Corbat, MetLife CEO Steve Kandarian, Bank of America CEO Brian Moynihan, in a meeting generally described as positive. Although there weren’t any detailed press accounts of the meeting, other than that it included discussion of immigration, cybersecurity, the stability of the financial system, and the nation’s long-term fiscal health, one wonders whether the CEOs shared their thoughts about a leaked draft of legislation being pushed by Senators Brown and Vitter … [Read more...] about Financial Services Legislative and Regulatory Update – Week of April 15, 2013
Podcast Transcript: This podcast is produced by the ABA Journal. We bring you the latest legal news every day from around the Web. Visit us online at ABAJournal.com.ABA Journal: People love to read about lawyers, particularly fiction, and there are many lawyers out there who think they’ve got some great stories. So how hard is it for a lawyer to get a book deal? I’m Stephanie Francis Ward, and that’s what we’re discussing today at the ABA Journal Podcast. Joining me are Robert Barnett, a partner with Williams & Connolly who represents authors, including Barack Obama, Bill Clinton, and George Bush; Jonathan Karp, the executive vice president and publisher of Simon & Schuster; and Hillel Italie who is a publishing writer for the Associated Press.Mr. Karp, what makes publishers want to read a book proposal all the way through rather than toss it after the first page?Jonathan Karp: It’s usually something about the voice that’s irresistible, or … [Read more...] about Obama’s Book Agent On How Lawyers Can Get Published
The transaction was the result of a strategic review process initiated by CFM’s board of directors in October 2004 and was carried out by way of amalgamation under the Ontario Business Corporations Act.Prior to the completion of the transaction, Ontario Teachers’ Pension Plan acquired all of CFM’s outstanding US$125 million senior secured notes that were in default.As part of the transaction, Teachers’ Private Capital agreed to provide CFM with a US$25 million interim financing facility to assist CFM in meeting its working capital needs until the closing of the transaction. Teachers’ Private Capital was represented in-house by Michael Padfield, senior legal counsel, investments; by Davies Ward Phillips & Vineberg LLP with a team that included William Ainley, Berl Nadler, Kevin Rooney, Melanie Koszegi and Darren Wasylucha (corporate and commercial), Sarah Powell (environmental) and John Bodrug and Charles Tingley (competition); and by Hicks Morley … [Read more...] about Teachers’ Private Capital Acquires CFM Corp.
With Breanne Deppisch and Joanie Greve. THE BIG IDEA: Those who don’t learn from the mistakes of the past are doomed to repeat them. That’s what the United States keeps doing in Syria. In 1950, Secretary of State Dean Acheson gave a speech implying that the Korean Peninsula was outside of the core defense perimeter of the United States. Though not intended, this sent a signal that America was abandoning South Korea. That helped provoke a war with fallout we're still managing today. Barack Obama made one of the gravest blunders of his presidency when he declared in 2012 that Syrian President Bashar al-Assad using chemical weapons against civilians would cross a “red line” and bring “enormous consequences.” When hundreds were killed by a gas attack the next year, he planned to launch missiles but blinked when the Brits balked. After Obama punted the decision to a Congress that dithered, an emboldened Assad escalated his barbaric … [Read more...] about The Daily 202: Trump gets schooled in Syria on how much his words matter