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Apr 3, 2009

GATA Dispatches: "Summers got in fees from bailed-out Banks

Summers got millions in fees from bailed-out banks
Submitted by cpowell on 04:57PM ET Friday, April 3, 2009. Section: Daily Dispatches By Timothy J. Burger and Kristin JensenBloomberg NewsFriday, April 3, 2009http://www.bloomberg.com/apps/news?pid=20601087&sid=amujoxo_s_EA&refer=h...Lawrence Summers, director of President Barack Obama's National Economic Council, took in more than $2.7 million in speaking fees paid by organizations that included Citigroup Inc., Goldman Sachs Group Inc., and Bank of America Corp., among other companies now receiving taxpayer funds in the economic bailout. Summers also was paid more than $1.4 million in salary and over $3.7 million in other compensation by the investment firm D.E. Shaw & Co. in the past 16 months, according to financial disclosure forms of top White House officials that the administration made public today. Given Summers' resume, "there was considerable interest in hearing his economic insights from companies across various industries," said Ben LaBolt, a White House spokesman. Since coming to the White House, Summers "has been at the forefront of this administration's work to shore up our nation's financial system and to put in place a regulatory framework that will strengthen the financial system." Separately, Valerie Jarrett, a senior adviser to Obama and a close friend from Chicago, sold shares she owned in CME Group Inc., Caterpillar Inc., Hewlett Packard Co., Intel Corp., Sony Corp., General Mills Inc., General Dynamics Corp., Costco Wholesale Corp. and Nike Inc. The income from those stocks, also including dividends in the last 15 months, ranged from as little as $1,000 to as much as $100,000 each. The disclosure form only requires ranges. Jarrett also sold restricted stock options in Navigant Consulting Inc. for $393,286, according to her disclosure. She served as a board member for the Chicago-based consulting firm. Jarrett reported owning between $15,000 and $50,000 worth of Apple Inc. shares and between $1,000 and $15,000 in stock of Best Buy Co., Brinker International Inc., Staples Inc. and Starbucks Corp. The White House said she no longer owns any shares. In the last 15 months, she also earned a salary of $302,000 from Habitat Executive Services Inc. in Chicago and directors' fees of more than $346,000 from groups ranging from Navigant to USG Corp., a manufacturer of building materials. David Axelrod, the chief strategist of Obama's historic campaign who is now a senior adviser to the president, received $1.55 million in salary and partnership income from public affairs firms he co-owned and agreed to a buyout that will pay him $3 million over five years, his disclosure form shows. Axelrod's clients included the AFL-CIO, a federation of labor unions; the American Association for Justice, formerly known as the Association of Trial Lawyers of America; AT&T Inc.; and Bally Total Fitness Corp.

* * *Help keep GATA goingGATA is a civil rights and educational organization based in the United States and tax-exempt under the U.S. Internal Revenue Code. Its e-mail dispatches are free, and you can subscribe at:http://www.gata.org
To contribute to GATA, please visit:
http://www.gata.org/node/16
Contact GATAinfo@gata.orgGold Anti-Trust Action Committee
7 Villa Louisa RoadManchester, Connecticut06043-7541 USA
www.gata.org

GATA Dispatches:"Ian Gordon on the World Economy and Gold"

Submitted by cpowell on 04:31PM ET Friday, April 3, 2009. Section: Daily Dispatches 7:30p ET Friday, April 3, 2009Dear Friend of GATA and Gold:Ian Gordon, publisher of the Long Wave Analyst letter (http://www.longwavegroup.com/), was interviewed this week by the Globe and Mail in Toronto about the world economy in general and gold in particular. Among other things, Gordon remarked that it's not hard to manipulate the gold price in the futures market, and that he expects gold to be brought back formally into the international monetary system.You can find the interview with Gordon here:http://business.theglobeandmail.com/servlet/story/RTGAM.20090402.wrgordo...
Then he is part of a Globe and Mail panel discussion with other market analysts here:http://www.theglobeandmail.com/servlet/story/RTGAM.20090401.wgordondiscu...
For the panel discussion, you can also try this abbreviated link:http://tinyurl.com/cj8bxv
CHRIS POWELL, Secretary/TreasurerGold Anti-Trust Action Committee Inc.
* * *
Help keep GATA going

GATA is a civil rights and educational organization based in the United States and tax-exempt under the U.S. Internal Revenue Code.

Its e-mail dispatches are free, and you can subscribe at:http://www.gata.org/To contribute to GATA, please visit:
http://www.gata.org/node/16

Contact GATAinfo@gata.orgGold Anti-Trust Action Committee

7 Villa Louisa RoadManchester, Connecticut06043-7541 USA
http://www.gata.org/

From The Desk Of Nick Nicolaas:":Zeal Inteligence Newsletter"

We have received Nick Nicolaas newslater. the transcript of it is the following:



Dear Friends,
Adam Hamilton has posted his weekly Zeal Intelligence Newsletter on the Mining Interactive Website. Click here:
http://www.mininginteractive.com/releases/zeal/zeal20090403.pdf


Have a great weekend and - - - Stay Tuned!!

Regards,
Nick L. Nicolaas Mining Interactive “Ahead of the Pack”

www.mininginteractive.com

Suite 500 - Park Place666 Burrard StreetVancouver BCCanada V6C 3P6

e-mail:
nick@mininginteractive.comTel: +1 (604) 657-4058Fax: +1 (604) 685-1631



You too have a great week end Nick,

The FGC-BOLSA- FINANCIAL MARKETS
ADMINISTRATION

Telegraph.com.uk:"G20 Summit: winners and losers"

How did the big players fare?
Last Updated: 7:52AM BST 03 Apr 2009.


Tor ead full coverage of article, click HERE

G20 Didn't Increase Gold Sales

Submitted by cpowell on 10:34AM ET Friday, April 3, 2009. Section: Daily Dispatches By Lesley WroughtonReutersvia Business Spectator, AustraliaFriday, April 3, 2009http://www.businessspectator.com.au/bs.nsf/Article/IMF-gold-sales-are-ag...LONDON -- Planned International Monetary Fund gold sales agreed by the G20 to raise money for low-income countries apply only to the 403 tonnes already approved last year and are not additional, an IMF spokesman said. "The gold sales apply only to those amounts already agreed and announced previously by the IMF," IMF spokesman William Murray told Reuters. The IMF last year approved the sale of 403 tonnes of its 3,217 tonnes (103.4 million ounces) gold stocks as part of a plan to overhaul its income model and to create an endowment with the profits from the sales. But since the global financial crisis began and more countries are in need of funding, the G20 has decided to allocate the profits from the sale of the 403 tonnes to resources for poorer developing countries. The sale of the already approved gold will, however, not happen immediately. Selling IMF gold requires ratification by member countries' legislatures, including the US Congress, a decision that is expected to take at least several months, perhaps longer. The G20 communique at the end of a leaders' summit in London said, "We have committed, consistent with the new income model, that additional resources from agreed sales of IMF gold will be used, together with surplus income, to provide $US6 billion additional concessional and flexible finance for the poorest countries over the next 2 to 3 years." There was no mention in the final communique of bringing forward the gold sales, although it called on the IMF "to come forward with concrete proposals" at the IMF's spring meetings later in April.
* * *Help keep GATA goingGATA is a civil rights and educational organization based in the United States and tax-exempt under the U.S. Internal Revenue Code.
Its e-mail dispatches are free, and you can subscribe at:http://www.gata.org
To contribute to GATA, please visit:
http://www.gata.org/node/16
Contact GATAinfo@gata.orgGold Anti-Trust Action Committee
7 Villa Louisa RoadManchester, Connecticut06043-7541 USA
www.gata.org

What now for the S&P? By Adam Hewison

The dramatic run up that we have seen in the S&P 500 may be coming to an end. The retracement back over the 840 level should provide sufficient resistance to reverse this market to the downside.
Now here is the caveat, our long-term indicator, the monthly “Trade Triangle” remains negative on this market. While the direction of our weekly timing “Trade Triangle” is on the sidelines and neutral. This has created a conflict, meaning that conservative traders should remain on the sidelines to protect capital.
I am looking for an area to once again get short this market and trade with the major trend in our favor.
My downside target zone is for an eventual move down to the 500 level. Only if we take out highs as I mention in the video, then this analysis will change.
I hope you enjoy this short video. I will cover two important elements in trading: the Elliott wave theory, and the other is the Fibonacci retracement levels that I like to watch and trade with.As always, the video is available with our compliments and there is no requirement to register to watch this video.To view the video please click
HERE.

President, INO.com
Co-creator, MarketClub