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Monthly Archives: July 2010

European Bank Stress Test (Eurosham)

The carefully choreographed results were announced yesterday. Markets reacted by doing nothing until the ECB held a PR conference. Markets then gained a little less than 1%. The results are that 91 banks across 20 countries were tested. 7 banks failed: 1 in Germany, 1 in Greece, 1 in Slovenia, and 4 in Spain. Failure of the test means that tier 1 capital falls below 6% under […] Read the rest of this entry »

FINREG will help somewhat

FINREG was signed into law by the President this week.                    I’m sorry to say that FINREG recommends changes to 12b-1 fees that amount to nothing and offer no further protection of investors from this rip-off fee. 12b-1 fees are an ongoing charge by mutual funds to individual investors and are effectively an annuity payment to stock brokers for doing nothing. 12b-1 fees peaked […] Read the rest of this entry »

June Unemployment report (also) disappoints.

Friday morning saw the release of June’s employment report from the BLS. Wall St officially expected 110K new private payroll jobs created and a 200K loss in US Census workers, for a total net 90K total jobs lost in June.. The BLS report was (even) weaker :  +83K new private payroll jobs created (lower than the 110K expected)  -225K census jobs lost (more than 200K […] Read the rest of this entry »