12/03/2010 21:30
| Closing Comments, Equities
| Kenneth Fung
12/03/2010 21:28
| FX
| Mary B. Slack
12/03/2010 20:54
| FX
| Mary B. Slack
12/03/2010 20:51
| Breaking News, Auto Sales
| Mary B. Slack
Trichet - we must re-evaluate Role of fin'l mkts in our economies and societies...
12/03/2010 20:46
| EU: ECB
| Mary B. Slack
Trichet at Stanford posits to what extent financial innovation serves the real economy..and to what extent, only itself?
12/03/2010 20:45
| EU: ECB
| Mary B. Slack
Trichet - in the recent past, Finance ceased to be a service to real economy, developed life of its own; Finance became Self Referential
12/03/2010 20:45
| EU: ECB
| Mary B. Slack
Trichet - Central Bank extraordinary liquidity measures had been expelled from text books...Modern economic's arbitrage had made liquidity measures ..irrelevant
12/03/2010 20:45
| EU: ECB
| Mary B. Slack
Trichet - must consider fundamental questions about relative importance, limits of pure financial "game", potential abuse of mkt power and role of fin'l sector
12/03/2010 20:45
| EU: ECB
| Mary B. Slack
12/03/2010 20:45
| EU: ECB
| Mary B. Slack
ECB's Trchet - Procyclicality comes from distorted incentives and herd behavior
12/03/2010 20:45
| EU: ECB
| Mary B. Slack
Trichet notes 5 large comm'l banks represent 97% of total notional amount of derivatives activity, 88% of net exposure
12/03/2010 20:45
| EU: ECB
| Mary B. Slack
Trichet opines 3 Credit Ratings Agencies dominate..acting as standard setters for an enormous volume of fin'l transactions
12/03/2010 20:45
| EU: ECB
| Mary B. Slack
Trichet - system wide conditions of overexporsure (spec positions) and illiquidity..put mkts in state of meta stability (potentially unstable)
12/03/2010 20:45
| EU: ECB
| Mary B. Slack
Trichet - disappearance of market arbitrage...was a challenge for monetary policy..but did not imply ineffectiveness
12/03/2010 20:45
| EU: ECB
| Mary B. Slack
Trichet notes ECB manages monetary policy thru loans vs FED management thru direct buying, selling of securities
12/03/2010 20:45
| EU: ECB
| Mary B. Slack
Trichet - ECB's quantitative definition of price stability..and medium term outlook "significantly reduce likelihood of inflation or deflation scares
12/03/2010 20:45
| EU: ECB
| Mary B. Slack
Trichet: 'Delayed Exit from Extraordinary Liquidity Support Would Distort Market Behavior and Misallocate Credit'
12/03/2010 20:45
| EU: ECB
| Keith Lobodzinski
Trichet: Extraordinary Measures Cannot be Allowed to Breed Bank Dependency, Undifferentiated Support Counter-Productive
12/03/2010 20:45
| EU: ECB
| Keith Lobodzinski
Trichet: Pace of Exit Strategy Depends on Developing Economic Conditions, Price Stability Remains Utmost Concern
12/03/2010 20:45
| EU: ECB
| Keith Lobodzinski