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News Links: Ten days of secret planning to rescue markets

Europe

US

  • MF Global accessed client funds for weeks – FT.com

    MF Global had been dipping into client funds for weeks before its failure – rather than just in its final days as had been previously reported – say US authorities investigating the broker-dealer’s collapse.

  • Matt Stoller: A Real Third Party? An Anti-Big Bank Republican? Yup. « naked capitalism

    Like many of you, I had mostly given up on electoral politics. One time I went through a log of Hank Paulson’s phone calls when he was Treasury Secretary, and then Tim Geithner’s phone calls when he was Treasury Secretary. And I realized that both men were talking to essentially the same people, even though they were ostensibly in different parties. When a switch in the party in power does not result in policy changes, there’s little point in electoral politics. I’ve seen two new intriguing developments that are worth noting. The most interesting is former Democrat and ex-Mayor of Salt Lake City Rocky Anderson forming what he is calling "The Justice Party". Now I love the Justice frame, because it really gets to the heart of what is missing from our technocratic overlords.

  • Wall St. Groups Sue Regulator to Challenge New Trading Rule – NYTimes.com

    Wall Street sought to deliver another blow to the financial regulatory overhaul on Friday, as two industry trade groups sued a federal regulator over a new rule restricting speculative trading.

  • GMAC Mugs Massachusetts for Insisting on the Rule of Law, Suspends Mortgage Lending in the State « naked capitalism

    This move by GMAC, now Ally, is remarkably brazen. GMAC has effectively said that Massachusetts must hew to its demands of how to deal with foreclosures. It announced it is withdrawing from mortgage lending in the state in an effort to bring it to heel.

Technology

  • Carrier IQ, Samsung, And HTC All Facing Class Action Lawsuits | TechCrunch

    To say that Carrier IQ has been going through a lot is a bit of an understatement, and it looks like things are only getting worse. PaidContent reports that two class action lawsuits – one from Missouri and the other from Illinois – have been filed against the Mountain View-based company for supposedly violating the Federal Wiretap Act.

About 

Edward Harrison is the founder of Credit Writedowns and a former career diplomat, investment banker and technology executive with over twenty years of business experience. He is also a regular economic and financial commentator on BBC World News, CNBC Television, Business News Network, CBC, Fox Television and RT Television. He speaks six languages and reads another five, skills he uses to provide a more global perspective. Edward holds an MBA in Finance from Columbia University and a BA in Economics from Dartmouth College. Edward also writes a premium financial newsletter. Sign up here for a free trial.

1 Comment

  1. Dave Holden says:

    Doesn’t surprise me HTC are in there. Still reeling from the fact that their  HTC sense sign up blindly goes on and matches your contacts with others that have signed on.