Subject: LEW NOTES TODAY
I
DON'T KNOW WHO TOOK THESE NOTES
Jack
Lew Notes of his talk today
banks
capitals have increased
living
wills
last
few months - mortgage standards in place
international
financial rules - Basel 3
USA
is setting the pace now - and the rest of the world should step up as well
Volker
rule - investment firms cant invest their own money. this created the risk and
failure of so many institutions
5
agencies that have something to say about the volker rule implemented.
rules
to be completed by year end and wont have different rules - it took longer then
Lew likes
people
must know that the new rules are in place. lew working hard to accomplish that.
seeing
tough standards as stress testing etc..
been
in new role for 6 months - bitter giht in congress which did not want
doddd-frank
finally
it was realized that dodd-frank would NOT be appealed. they now want to just
get it done.
lew's
goal is to keep everyone focused on the outcome and bring all agencies
together.
kew
is in the process of implementing something very complicated.
the
perfect test is a crisis and they dont want that. they are taking steps to
provide comfort to have orderly resolutions. capitial req needed to meet
regulations.
dodd
frank is not to meet every single issue - its have you done enough!
glass
steagal separates investment vs retail banks. aig/lehman were clearly on one
line.
financial
system has changed since the 1930 and cant go backwards.
damage
done by sequester?
resources
and govt spending could have the GDP
job
employment # were really federal not public
100
members of congress were arguing that default was a better option
they
were unable to reach an agreement due to republicans not approving money for
funding
with
the global financial system we need to have harmonization and make sure the
system is safe and work with our international partners. US is still the world
leader and setting the standards.
5
yrs ago - the financial system was unsafe and got to big - to over sized?
there
was a failure in oversight......and were homeowners credit worthy
-------------------
Top
central bankers are no-shows at Jackson Hole
------------------------------------------------------------
Frank26:
AS OF TODAY ........ JP MORGAN CHASE HAS JUST SHUT DOWN ALL TRANSACTION AND
DATA INFO TO CUST UNTIL SUNDAY. THEY ARE SAYING IT IS A DATA UPDATE. BUT FOR 4
DAYS? NO!!! ADD TO 1 AM. F26.
JPMORGAN
CHASE HAS SHUT DOWN ALL DATA TILL SUNDAY
[1:55:15
PM] xxxx 4 DAYS !!!
----------------------------------------------------------------
DIRECT
INTEL AT 3:29 PM EST TODAY FROM CME GROUP CONTACT
1.
PER CONVERSATION WITH CME GROUP CONTACT TODAY'S NASDAQ EVENT WAS PRE-ENGINEERED
AND
ORGANIZED TO TAKE PLACE VIA DARK LIQUIDITY POOLS.
2.
THIS EVENT IS TIED DIRECTLY TO THE GCR & EMERGING MARKETS
3.
MARGIN CALLS ARE IN LIMBO GLOBALLY AS WELL AS FUTURES CONTRACTS
4.
EURONEXT & NEW CIX SYSTEM WERE MAJOR CATALYSTS IN CONJUNCTION WITH
CENTRAL
BANKS & DARK LIQUIDITY
5.
NASDAQ IS NOW VIEWED AS UNSTABLE STOCK EXCHANGE
6.
METALS MARKETS 100% STABLE
7.
LARGE INSTITUTIONAL INVESTORS WON WITH BULLISH & BEARISH CALLS
MADE
LAST WEEK ON THIS EVENT VIA GLOBAL MARKET HEDGES
8.
THIS WAS NOT A CYBER ATTACK
--------------------------------
$5.7
TRILLION LOCKED UP BY NASDAQ TRADING HALT
Nasdaq’s
unexplained trading halt Thursday locked up trading in stocks with a total
market capitalization of $5.7 trillion.
The
extraordinary halt in the trading of more than 2,000 issues listed on the
Nasdaq COMP +0.87% , came after an as yet undisclosed technical glitch.
It
halted trading in the tech industry’s biggest names, including Apple AAPL
-0.76% , Google GOOG , Microsoft MSFT , Amazon.com AMZN and Cisco Systems CSCO . The five companies
have a combined market cap of more than $1 trillion.
Glitches
in trading tied to high-speed computer algorithms have occurred frequently in
recent years, with the so-called flash crash in May 2010 marking the most
widely noted instance of instability in the stock market’s infrastructure. But
new rules aimed at preventing problems have been slow to be implemented.
On
Tuesday, erroneous stock-option orders from Goldman Sachs flooded into American
exchanges, in the latest example of technical problems in trading.
In
spite of the glitches, investors have been drawn back into the markets by the
continued strength in equities, and by the extended period of low interest
rates available for bank accounts and Federal treasury notes.
–
Tom Bemis
------------------------------
Cherie:
Moodys put credit rating of 4 big banks up for downgrade-CNBC right now
[1:32:14
PM] Cherie: Bank of America, Goldman, WF and Citi
[1:33:00
PM] Cherie: US atty-announced indictment of someone from SAC-didn't catch the
name
[1:33:44
PM] br SAC or SEC?
[1:34:45
PM] Cherie: SAC-one of the big hedge funds I believe
--------------------------------
[2:08:42
PM] Iraq Political News: Maliki apologizes to the people because of
security measures calling for patience
Posted
on August 22, 2013
--------------------
[2:11:09
PM] here is the maliki fled link
1 comment:
The Jack Lew notes were from his speech yesterday in Silicon Valley, CA.
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