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A Fog Warning, Again, for Municipal Bonds - (www.nytimes.com) FEW areas of finance are as opaque as the municipal bond market. Which is astounding, when you consider how crucial this $4 trillion market is to the nation’s economic life. Sure, munis seem boring. But without them, state and local finances would collapse. Witness the mess in Jefferson County, Ala., which declared bankruptcy last fall. And so the Securities and Exchange Commission — with good reason — is trying to bring transparency to the muni market by increasing disclosure requirements. As a result, issuers of munis must now post financial statements, bond rating changes and other material information promptly on the EMMA data site of the Municipal Securities Rulemaking Board.
This Undercover CEO Got So Angry At A Manager He Shut Down The Restaurant On The Spot - (www.businessinsider.com) The fast food business is rough for the workers on the front line. You earn minimum wage, deal with rude customers, and sometimes, you get an abusive manager that makes your life miserable. Checkers CEO Rick Silva found this out first-hand on an episode of the CBS reality show Undercover Boss, where CEOs go undercover as regular workers to find out what things are really like. And what he found was startling. He was working with employee Todd at the fry station, and as Todd was talking to him, the manager Stevens told him to be quiet. Later, Stevens even threatened to beat Todd for not working hard enough. Silva was so appalled that he took Stevens outside, broke character and confronted him right there—a rare occurrence on the show. He shut down the store on the spot, ending the shift.
As Athens riots, global markets say 'so what?' - (www.telegraph.co.uk) So what if the German cabinet, at the highest level, is split on whether or not Greece should default? So what that nobody can possibly know if such a default would be "orderly" or "disorderly", with global markets remaining sanguine or unleashing months – years – of pent-up frustration? So what if a Greek payment failure could send bond prices in other eurozone member states plummeting, spreading "contagion" across Western Europe and beyond? So what if the German cabinet's disagreement over what to do is, in fact, only the sub-plot of deeper political schism between Germany itself and France? So what if there is no legal precedent for a eurozone member default and no clarity on whether Greece would then be forced to leave the single currency?
Does the Fed Print Money? Of Course! - (finance.yahoo.com) Does the Fed print money? Our recent attempt to answer this seemingly simple question prompted a torrent of comments, much of it negative and unfit for publication on a family-friendly Web site. In the accompanying video, Jim Bianco, president of Bianco Research, offers bit more sophisticated critique of our coverage on this controversial issue. While the U.S. Treasury does indeed control the printing of hard currency in America, Bianco says we goofed by omitting the realities of the Fed's electronic printing press. "The ability of the Fed to increase the amount of money in banks' reserve accounts; that's what most people mean when they talk about money printing and that's under the direction of the Fed," Bianco says. All U.S. banks must keep a certain percentage of their assets on reserve with the Fed, in order to insure a margin of safety and so they can access the Fed's lending facility in times of crisis. Back in 2008, Goldman Sachs (GS) and Morgan Stanley (MS) converted to bank holding companies for this very reason.
Failure of MF Global Creates Tax Nightmare for Farmers - (www.cnbc.com) With the tax man breathing down his neck, Ohio farmer Tony Rohrs is scrambling to figure out how much money he made last year in an account at MF Global. Thousands of former clients of the failed brokerage, including farmers, cattle ranchers and investors, have not yet received tax forms that detail their profits and losses, preventing them from preparing accurate returns for the Internal Revenue Service ahead of a rapidly approaching deadline. "I'm running out of time," said Rohrs, who faces a March 1 filing deadline like many farmers.
VIDEO: The Worst is Still to Come - (www.newsmax.com)
Ten depressing charts about long-term unemployment in America - (www.businessinsider.com)
'Greece Fatigue': Market Hopes Bailout Plan Will Work - (www.cnbc.com)
Greece Deal Will Only Last Until Next Election: Gartman - (www.cnbc.com)
Gas prices are highest ever for this time of year - (finance.yahoo.com)
Wall Street Is An Illegal Cartel That Needs To Be Busted Up - (finance.yahoo.com)
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