The Business Insider: John Carney

The Business Insider: John Carney http://www.businessinsider.com/john-carney en-us Sun, 08 Nov 2009 04:46:03 -0500 Sun, 08 Nov 2009 04:46:03 -0500 The latest news from John Carney on The Business Insider http://www.businessinsider.com/photo-of-malik-nadal-hasan PHOTO OF MALIK NADAL HASAN http://feedproxy.google.com/~r/Clusterstock-JohnCarney/~3/UY9dh5u2UXE/photo-of-malik-nadal-hasan Thu, 05 Nov 2009 19:00:00 -0500 John Carney <p><img class="float_right" src="http://static.businessinsider.com/~~/f?id=4af362ee00000000007568c8" border="0" alt="hasan.png" /></p><p>There very little official information about Malik Nadal Husan, the alleged gunman in the Fort Hood shooting.</p> <p>It's not even clear how exactly his name is spelled. We've seen news reports referring to him as Malik Nadal Husan, Malik Nidal Husan, Malik Nadal Hussan, Malik Nidal Hussan, Nidal Malik Husan, and Nidal Malik Hussan.</p> <p>"Virginia state medical licensing records list a Nidal Malik Hasan as a psychiatrist for the Army Medical Corps, with his primary practice at Darnall Army Medical Center at Fort Hood," McClatchy reports. "The phone number listed for him in the Virginia records, which carried a Maryland area code, was unanswered."</p> <p><a href="http://www.mcclatchydc.com/251/story/78425.html?storylink=MI_emailed">McClatchy reports:</a></p> <p> </p> <p style="padding-left: 30px;">According to the records, Hasan completed a residency in psychiatry at Walter Reed Army Medical Center in Washington, D.C. in 2007 and additional training in disaster and preventive psychiatry at Uniformed Services University Of the Health Sciences F. Edward Herbert School of Medicine, Bethesda, Md.. At least 12 people were killed and 31 wounded in a shooting at Fort Hood Army Base near Killeen, Texas, when at least one gunmen opened fire on soldiers who were making their final deployment preparations.</p> <p>At the Center for Traumatic Studies we found this profile.</p> <p><span class="headSection"><br /> Nidal Hasan, M.D., M.P.H.</span><br /> <img class="images" src="http://cstsonline.org/csts_bin/image/images/staff/hasan.png" border="0" align="left" /> Fellow, Disaster and Preventive Psychiatry<br /> Department of Psychiatry<br /> F.Edward Hebert School of Medicine<br /> Uniformed Services University of the Health Scienc</p><p><a href="http://www.businessinsider.com/photo-of-malik-nadal-hasan#comments">Join the conversation about this story »</a></p> <p><a href="http://feedads.g.doubleclick.net/~a/9UG4MRdXevI0Vi-o8ezlkH-X55Q/0/da"><img src="http://feedads.g.doubleclick.net/~a/9UG4MRdXevI0Vi-o8ezlkH-X55Q/0/di" border="0" ismap="true"></img></a><br/> <a href="http://feedads.g.doubleclick.net/~a/9UG4MRdXevI0Vi-o8ezlkH-X55Q/1/da"><img src="http://feedads.g.doubleclick.net/~a/9UG4MRdXevI0Vi-o8ezlkH-X55Q/1/di" border="0" ismap="true"></img></a></p><img src="http://feeds.feedburner.com/~r/Clusterstock-JohnCarney/~4/UY9dh5u2UXE" height="1" width="1"/> http://www.businessinsider.com/photo-of-malik-nadal-hasan http://www.businessinsider.com/malik-nadil-malik-photo FOUND: PICTURE OF MALIK NADAL HASAN http://feedproxy.google.com/~r/Clusterstock-JohnCarney/~3/TYqNjx_QA-c/malik-nadil-malik-photo Thu, 05 Nov 2009 18:55:00 -0500 John Carney <p><img class="float_right" src="http://static.businessinsider.com/~~/f?id=4af362ee00000000007568c8" border="0" alt="hasan.png" /></p><p>There very little official information about Malik Nidal Husan, the alleged gunman in the Fort Hood shooting.</p> <p>It's not even clear how exactly his name is spelled. We've seen news reports referring to him as Malik Nadal Husan, Malik Nidal Husan, Malik Nadal Hussan, Malik Nidal Hussan, Nidal Malik Husan, and Nidal Malik Hussan.</p> <p>"Virginia state medical licensing records list a Nidal Malik Hasan as a psychiatrist for the Army Medical Corps, with his primary practice at Darnall Army Medical Center at Fort Hood," McClatchy reports. "The phone number listed for him in the Virginia records, which carried a Maryland area code, was unanswered."</p> <p><a href="http://www.mcclatchydc.com/251/story/78425.html?storylink=MI_emailed">McClatchy reports:</a></p> <p> </p> <p style="padding-left: 30px;">According to the records, Hasan completed a residency in psychiatry at Walter Reed Army Medical Center in Washington, D.C. in 2007 and additional training in disaster and preventive psychiatry at Uniformed Services University Of the Health Sciences F. Edward Herbert School of Medicine, Bethesda, Md.. At least 12 people were killed and 31 wounded in a shooting at Fort Hood Army Base near Killeen, Texas, when at least one gunmen opened fire on soldiers who were making their final deployment preparations.</p> <p>At the Center for Traumatic Studies we found this profile.</p> <p><span class="headSection"><br /> Nidal Hasan, M.D., M.P.H.</span><br /> <img class="images" src="http://cstsonline.org/csts_bin/image/images/staff/hasan.png" border="0" align="left" /> Fellow, Disaster and Preventive Psychiatry<br /> Department of Psychiatry<br /> F.Edward Hebert School of Medicine<br /> Uniformed Services University of the Health Scienc</p><p><a href="http://www.businessinsider.com/malik-nadil-malik-photo#comments">Join the conversation about this story »</a></p> <p><a href="http://feedads.g.doubleclick.net/~a/KMP8Y46XVGY1tLl4RBiN2I_-D4o/0/da"><img src="http://feedads.g.doubleclick.net/~a/KMP8Y46XVGY1tLl4RBiN2I_-D4o/0/di" border="0" ismap="true"></img></a><br/> <a href="http://feedads.g.doubleclick.net/~a/KMP8Y46XVGY1tLl4RBiN2I_-D4o/1/da"><img src="http://feedads.g.doubleclick.net/~a/KMP8Y46XVGY1tLl4RBiN2I_-D4o/1/di" border="0" ismap="true"></img></a></p><img src="http://feeds.feedburner.com/~r/Clusterstock-JohnCarney/~4/TYqNjx_QA-c" height="1" width="1"/> http://www.businessinsider.com/malik-nadil-malik-photo http://www.businessinsider.com/found-picture-of-malik-nidal-hasan-2009-11 PICTURE OF MALIK NIDAL HASAN http://feedproxy.google.com/~r/Clusterstock-JohnCarney/~3/O1_zlJII9wk/found-picture-of-malik-nidal-hasan-2009-11 Thu, 05 Nov 2009 18:43:00 -0500 John Carney <p><img class="float_right" src="http://static.businessinsider.com/~~/f?id=4af362ee00000000007568c8" border="0" alt="hasan.png" /></p><p>There very little official information about Malik Nidal Husan, the alleged gunman in the Fort Hood shooting.</p> <p>It's not even clear how exactly his name is spelled. We've seen news reports referring to him as Malik Nadal Husan, Malik Nidal Husan, Malik Nadal Hussan, Malik Nidal Hussan, Nidal Malik Husan, and Nidal Malik Hussan.</p> <p>"Virginia state medical licensing records list a Nidal Malik Hasan as a psychiatrist for the Army Medical Corps, with his primary practice at Darnall Army Medical Center at Fort Hood," McClatchy reports. "The phone number listed for him in the Virginia records, which carried a Maryland area code, was unanswered."</p> <p><a href="http://www.mcclatchydc.com/251/story/78425.html?storylink=MI_emailed">McClatchy reports:</a></p> <p> </p> <p style="padding-left: 30px;">According to the records, Hasan completed a residency in psychiatry at Walter Reed Army Medical Center in Washington, D.C. in 2007 and additional training in disaster and preventive psychiatry at Uniformed Services University Of the Health Sciences F. Edward Herbert School of Medicine, Bethesda, Md.. At least 12 people were killed and 31 wounded in a shooting at Fort Hood Army Base near Killeen, Texas, when at least one gunmen opened fire on soldiers who were making their final deployment preparations.</p> <p>At the Center for Traumatic Studies we found this profile.</p> <p><span class="headSection"><br /> Nidal Hasan, M.D., M.P.H.</span><br /> <img class="images" src="http://cstsonline.org/csts_bin/image/images/staff/hasan.png" border="0" align="left" /> Fellow, Disaster and Preventive Psychiatry<br /> Department of Psychiatry<br /> F.Edward Hebert School of Medicine<br /> Uniformed Services University of the Health Scienc</p><p><a href="http://www.businessinsider.com/found-picture-of-malik-nidal-hasan-2009-11#comments">Join the conversation about this story »</a></p> <p><a href="http://feedads.g.doubleclick.net/~a/dK0sRIGxlt2WX_UUy0weF_LuLzs/0/da"><img src="http://feedads.g.doubleclick.net/~a/dK0sRIGxlt2WX_UUy0weF_LuLzs/0/di" border="0" ismap="true"></img></a><br/> <a href="http://feedads.g.doubleclick.net/~a/dK0sRIGxlt2WX_UUy0weF_LuLzs/1/da"><img src="http://feedads.g.doubleclick.net/~a/dK0sRIGxlt2WX_UUy0weF_LuLzs/1/di" border="0" ismap="true"></img></a></p><img src="http://feeds.feedburner.com/~r/Clusterstock-JohnCarney/~4/O1_zlJII9wk" height="1" width="1"/> http://www.businessinsider.com/found-picture-of-malik-nidal-hasan-2009-11 http://www.businessinsider.com/us-army-major-malik-nidal-hasan-identified-as-primary-shooter-at-fort-hood-2009-11 US Army Major Malik Nidal Hasan Identified As Primary Shooter At Fort Hood http://feedproxy.google.com/~r/Clusterstock-JohnCarney/~3/dzWK_sX4Xp0/us-army-major-malik-nidal-hasan-identified-as-primary-shooter-at-fort-hood-2009-11 Thu, 05 Nov 2009 18:29:40 -0500 John Carney <p><span> <div style="float: left; padding: 15px 15px 15px 0;"> <script type="text/javascript">// <![CDATA[ tweetmeme_source = ''; tweetmeme_service = 'bit.ly'; // ]]></script> <script src="http://tweetmeme.com/i/scripts/button.js" type="text/javascript"></script> </div> </span></p> <p>The suspected gunman in the Fort Hood shooting has been identified as Major Malik Nadal Hasan. He was killed and two other suspects have been apprehended, according to Army Spokesman Lt. General Robert W. Cone.</p> <p style="padding-left: 30px;"><strong>Don't miss: </strong><strong><a href="http://www.businessinsider.com/tweets-from-fort-hood-2009-11/the-poor-guy-that-got-shot-in-the-balls-1">Tweets from Fort Hood ></a></strong></p> <p>A defense official speaking on condition of anonymity to the AP says <em>Hasan</em> was a <em>mental health professional</em> — an <em>Army</em> psychologist or psychiatrist. He recently trained at <em>Walter Reed</em> Army Medical Center in Washington, D.C.</p> <p><span>There are unconfirmed reports that Major Hasan was a convert to Islam and originally from Virginia. He was reportedly scheduled to deploy to either Iraq or Afghanistan and was unhappy about it.</span></p> <p><span>It goes without saying that the fact that the shooter was a Muslim will turn this into a gigantic story.</span></p> <p><span>Picture via Twitter user <a href="http://twitpic.com/oejh5">Misstearah</a>, a member of the army, who Tweeted: "The poor guy that got shot in the balls. Gen Cone is reporting right now. I've been standing next to h..."<br /></span></p> <p><span><img src="http://static.businessinsider.com/~~/f?id=4af355e80000000000e28b08" border="0" alt="forthoodhospitalpic.jpg" /><br /></span></p><p><a href="http://www.businessinsider.com/us-army-major-malik-nidal-hasan-identified-as-primary-shooter-at-fort-hood-2009-11#comments">Join the conversation about this story »</a></p><p><b>See Also:</b></p><ul><li><a href="http://www.businessinsider.com/7-dead-12-wounded-in-texas-shooting-2009-11">12 Dead, 31 Wounded In Texas Shooting </a></li></ul> <p><a href="http://feedads.g.doubleclick.net/~a/KaInUCWLUA4ZL09grqivOnfZ3cM/0/da"><img src="http://feedads.g.doubleclick.net/~a/KaInUCWLUA4ZL09grqivOnfZ3cM/0/di" border="0" ismap="true"></img></a><br/> <a href="http://feedads.g.doubleclick.net/~a/KaInUCWLUA4ZL09grqivOnfZ3cM/1/da"><img src="http://feedads.g.doubleclick.net/~a/KaInUCWLUA4ZL09grqivOnfZ3cM/1/di" border="0" ismap="true"></img></a></p><img src="http://feeds.feedburner.com/~r/Clusterstock-JohnCarney/~4/dzWK_sX4Xp0" height="1" width="1"/> http://www.businessinsider.com/us-army-major-malik-nidal-hasan-identified-as-primary-shooter-at-fort-hood-2009-11 http://www.businessinsider.com/us-army-major-malik-nadal-hassan-identified-as-primary-shooter-at-fort-hood-2009-11 US Army Major Malik Nadal Hassan Identified As Primary Shooter At Fort Hood http://feedproxy.google.com/~r/Clusterstock-JohnCarney/~3/iIh9fdKGPVc/us-army-major-malik-nadal-hassan-identified-as-primary-shooter-at-fort-hood-2009-11 Thu, 05 Nov 2009 18:00:15 -0500 John Carney <p><span>The suspected gunman in the Fort Hood shooting has been identified as Major Malik Nadal Hasan. He was killed and two other suspects have been apprehended, according to Army Spokesman Lt. General Robert W. Cone. </span></p> <p><span>There are unconfirmed reports that Major Hasan was a convert to Islam and originally from Virginia. He was reportedly scheduled to deploy to either Iraq or Afghanistan and was unhappy about it.</span></p> <p><span>It goes without saying that the fact that the shooter was a Muslim will turn this into a gigantic story.</span></p> <p><span>(Picture via Twitter user <a href="http://twitpic.com/oejh5">Misstearah</a>)<br /></span></p> <p><span><img src="http://static.businessinsider.com/~~/f?id=4af355e80000000000e28b08" border="0" alt="forthoodhospitalpic.jpg" /><br /></span></p><p><a href="http://www.businessinsider.com/us-army-major-malik-nadal-hassan-identified-as-primary-shooter-at-fort-hood-2009-11#comments">Join the conversation about this story »</a></p><p><b>See Also:</b></p><ul><li><a href="http://www.businessinsider.com/7-dead-12-wounded-in-texas-shooting-2009-11">12 Dead, 31 Wounded In Texas Shooting </a></li></ul> <p><a href="http://feedads.g.doubleclick.net/~a/WX-HeruP8V0w29GatQRwZakzmnw/0/da"><img src="http://feedads.g.doubleclick.net/~a/WX-HeruP8V0w29GatQRwZakzmnw/0/di" border="0" ismap="true"></img></a><br/> <a href="http://feedads.g.doubleclick.net/~a/WX-HeruP8V0w29GatQRwZakzmnw/1/da"><img src="http://feedads.g.doubleclick.net/~a/WX-HeruP8V0w29GatQRwZakzmnw/1/di" border="0" ismap="true"></img></a></p><img src="http://feeds.feedburner.com/~r/Clusterstock-JohnCarney/~4/iIh9fdKGPVc" height="1" width="1"/> http://www.businessinsider.com/us-army-major-malik-nadal-hassan-identified-as-primary-shooter-at-fort-hood-2009-11 http://www.businessinsider.com/us-army-major-malik-nadal-hasan-identified-as-primary-shooter-at-fort-hood-2009-11 US Army Major Malik Nadal Hasan Identified As Primary Shooter At Fort Hood http://feedproxy.google.com/~r/Clusterstock-JohnCarney/~3/lmeVQLhPDVQ/us-army-major-malik-nadal-hasan-identified-as-primary-shooter-at-fort-hood-2009-11 Thu, 05 Nov 2009 17:38:00 -0500 John Carney <p><span> <div style="float: left; padding: 15px 15px 15px 0;"> <script type="text/javascript">// <![CDATA[ tweetmeme_source = ''; tweetmeme_service = 'bit.ly'; // ]]></script> <script src="http://tweetmeme.com/i/scripts/button.js" type="text/javascript"></script> </div> </span></p> <p><strong>Update:</strong> <a href="http://www.businessinsider.com/fort-hood-shooter-malik-hasan-nadal-is-alive-2009-11">Hasan is alive, the army announced</a>. He was previously believed to have been killed.</p> <p><strong>Earlier: </strong>The suspected gunman in the Fort Hood shooting has been identified as Major Malik Nadal Hasan. He was killed and two other suspects have been apprehended, according to Army Spokesman Lt. General Robert W. Cone.</p> <p style="padding-left: 30px;"><strong>Don't miss: </strong><strong><a href="http://www.businessinsider.com/tweets-from-fort-hood-2009-11/the-poor-guy-that-got-shot-in-the-balls-1">First-hand accounts from Fort Hood ></a></strong></p> <p style="padding-left: 30px;"><strong>And check out: <a href="http://www.businessinsider.com/photo-of-malik-nadal-hasan">This photo of Major Malik Nadal Hasan ></a><br /></strong></p> <p>A defense official speaking on condition of anonymity to the AP says <em>Hasan</em> was a <em>mental health professional</em> — an <em>Army</em> psychologist or psychiatrist. He recently trained at <em>Walter Reed</em> Army Medical Center in Washington, D.C.</p> <p><span>There are unconfirmed reports that Major Hasan was a convert to Islam and originally from Virginia. He was reportedly scheduled to deploy to either Iraq or Afghanistan and was unhappy about it.</span></p> <p><span>It goes without saying that the fact that the shooter was a Muslim will turn this into a gigantic story.</span></p> <p><span>Picture via Twitter user <a href="http://twitpic.com/oejh5">Misstearah</a>, a member of the army, who Tweeted: "The poor guy that got shot in the balls. Gen Cone is reporting right now. I've been standing next to h..."<br /></span></p> <p><span><img src="http://static.businessinsider.com/~~/f?id=4af355e80000000000e28b08" border="0" alt="forthoodhospitalpic.jpg" /><br /></span></p><p><a href="http://www.businessinsider.com/us-army-major-malik-nadal-hasan-identified-as-primary-shooter-at-fort-hood-2009-11#comments">Join the conversation about this story »</a></p><p><b>See Also:</b></p><ul><li><a href="http://www.businessinsider.com/7-dead-12-wounded-in-texas-shooting-2009-11">12 Dead, 31 Wounded In Texas Shooting </a></li></ul> <p><a href="http://feedads.g.doubleclick.net/~a/QhYM9jzLYa3y7oNHy5nAMKDnv6c/0/da"><img src="http://feedads.g.doubleclick.net/~a/QhYM9jzLYa3y7oNHy5nAMKDnv6c/0/di" border="0" ismap="true"></img></a><br/> <a href="http://feedads.g.doubleclick.net/~a/QhYM9jzLYa3y7oNHy5nAMKDnv6c/1/da"><img src="http://feedads.g.doubleclick.net/~a/QhYM9jzLYa3y7oNHy5nAMKDnv6c/1/di" border="0" ismap="true"></img></a></p><img src="http://feeds.feedburner.com/~r/Clusterstock-JohnCarney/~4/lmeVQLhPDVQ" height="1" width="1"/> http://www.businessinsider.com/us-army-major-malik-nadal-hasan-identified-as-primary-shooter-at-fort-hood-2009-11 http://www.businessinsider.com/the-insider-trading-alarm-bells-grow-louder-2009-11 The Insider Trading Alarm Bells Grow Louder http://feedproxy.google.com/~r/Clusterstock-JohnCarney/~3/C79V2TtHe1g/the-insider-trading-alarm-bells-grow-louder-2009-11 Thu, 05 Nov 2009 16:08:00 -0500 John Carney <p><img class="float_right" src="http://static.businessinsider.com/~~/f?id=4af33e910000000000a2cf5c&maxX=368&maxY=272" border="0" alt="preetpressconference.jpg" width="368" height="272" /></p><p>Missed the big insider press conference today? We've got it right here.</p> <p>Some highlights from the AP:</p> <p style="padding-left: 30px;">The actions raise to 20 the number of people who have been charged in the case first disclosed last month with the arrests of Galleon Group founder and hedge fund operator <a href="http://topics.nytimes.com/top/reference/timestopics/people/r/raj_rajaratnam/index.html?inline=nyt-per" title="More articles about Raj Rajaratnam.">Raj Rajaratnam</a> and five others.</p> <p style="padding-left: 30px;">At the time, U.S. Attorney <a href="http://topics.nytimes.com/top/reference/timestopics/people/b/preet_bharara/index.html?inline=nyt-per" title="More articles about Preet Bharara.">Preet Bharara</a> called the first arrests ''a wakeup call for Wall Street.''</p> <p style="padding-left: 30px;">''Today the alarm bells have only grown louder,'' he said at a news conference Thursday.</p> <p style="padding-left: 30px;">Bharara said that total profits alleged by prosecutors was $40 million while the <a href="http://topics.nytimes.com/top/reference/timestopics/organizations/s/securities_and_exchange_commission/index.html?inline=nyt-org" title="More articles about the U.S. Securities And Exchange Commission.">Securities and Exchange Commission</a> raised the total to $53 million, saying it includes millions in profits not described in the criminal complaints.</p> <p style="padding-left: 30px;">He said he knew people would ask if the insider trading case was the tip of the iceberg of illicit trading on Wall Street.</p> <p style="padding-left: 30px;">''We don't have an answer to that but we aim to find out,'' he said.</p> <h1><a href="http://businessinsider.com/the-insider-trading-alarm-bells-grow-louder-2009-11/preet-sounds-the-alarm-1">Okay. Let's Watch The Press Conference>></a></h1><p><a href="http://www.businessinsider.com/the-insider-trading-alarm-bells-grow-louder-2009-11#comments">Join the conversation about this story »</a></p><p><b>See Also:</b></p><ul><li><a href="http://www.businessinsider.com/galleon-insider-trading-scandal-has-sac-capital-connection-2009-11">Ex-SAC Capital Guy Nabbed In Insider Trading Round Up</a></li><li><a href="http://www.businessinsider.com/complete-new-galleon-insider-trading-documents-2009-11">Complete New Galleon Insider Trading Documents</a></li><li><a href="http://www.businessinsider.com/what-the-complaint-says-about-ropes-and-grays-arthur-cutillo-2009-11">What The Complaint Says About Ropes & Gray's Arthur Cutillo</a></li></ul> <p><a href="http://feedads.g.doubleclick.net/~a/9CzXwOwX55QCTMthQF_pinou8YE/0/da"><img src="http://feedads.g.doubleclick.net/~a/9CzXwOwX55QCTMthQF_pinou8YE/0/di" border="0" ismap="true"></img></a><br/> <a href="http://feedads.g.doubleclick.net/~a/9CzXwOwX55QCTMthQF_pinou8YE/1/da"><img src="http://feedads.g.doubleclick.net/~a/9CzXwOwX55QCTMthQF_pinou8YE/1/di" border="0" ismap="true"></img></a></p><img src="http://feeds.feedburner.com/~r/Clusterstock-JohnCarney/~4/C79V2TtHe1g" height="1" width="1"/> http://www.businessinsider.com/the-insider-trading-alarm-bells-grow-louder-2009-11 http://www.businessinsider.com/battle-of-wall-street-bust-books-day-3-gasparino-still-pounding-away-at-sorkin-2009-11 Battle Of Wall Street Bust Books, Day 3: Gasparino Still Pounding Away At Sorkin http://feedproxy.google.com/~r/Clusterstock-JohnCarney/~3/FOFbLGZ5L3M/battle-of-wall-street-bust-books-day-3-gasparino-still-pounding-away-at-sorkin-2009-11 Thu, 05 Nov 2009 15:19:00 -0500 John Carney <p><img class="float_right" src="http://static.businessinsider.com/~~/f?id=4af332b00000000000d5fd29" border="0" alt="gasparinovssorkin.jpg" /></p><p>It looks like Charlie Gasparino is not fading in his battle with Andrew Ross Sorkin for bragging rights to the biggest bestselling blockbuster about the Wall Street collapse.</p> <p>Gasparino came out swinging hard, with <em><a href="http://www.amazon.com/gp/product/0061697168?ie=UTF8&tag=thebusiinsi-20&linkCode=as2&camp=1789&creative=9325&creativeASIN=0061697168">The Sellout</a></em>  leaping ahead of Sorkin's <em> </em><em><a href="http://www.amazon.com/gp/product/0670021253?ie=UTF8&tag=thebusiinsi-20&linkCode=as2&camp=1789&creative=9325&creativeASIN=0670021253">Too Big to Fail</a></em> on Amazon's bestseller list. Many expected that after the initial burst of buying on the day the book was released, Gasparino's book would fade.</p> <p>But it isn't fading relative to Sorkin. Sorkin's book has sank from 22 on the list <a href="http://www.businessinsider.com/henry-blodget-battle-of-the-wall-street-studs-gasparino-vs-sorkin-day-1-2009-11">when we last checked in</a> all the way down to 27. Gasparino, who was at 13 in our first check, is at 15 as of 3:10 today.</p> <p>Could Gasparino, whose book is literally the lightweight in this match, pull a major upset?</p> <p>We'll keep you posted!</p> <p><img src="http://static.businessinsider.com/~~/f?id=4af332d60000000000b63c3a" border="0" alt="thesellout15.jpg" /></p> <p><img src="http://static.businessinsider.com/~~/f?id=4af332c400000000005642a1" border="0" alt="toobigtofail27.jpg" /></p><p><a href="http://www.businessinsider.com/battle-of-wall-street-bust-books-day-3-gasparino-still-pounding-away-at-sorkin-2009-11#comments">Join the conversation about this story »</a></p><p><b>See Also:</b></p><ul><li><a href="http://www.businessinsider.com/henry-blodget-battle-of-the-wall-street-studs-gasparino-vs-sorkin-day-1-2009-11">Battle Of The Wall Street Studs: GASPARINO vs SORKIN, DAY 1</a></li></ul> <p><a href="http://feedads.g.doubleclick.net/~a/jHVbe4RuQ1eOrxlaxUig47_80P8/0/da"><img src="http://feedads.g.doubleclick.net/~a/jHVbe4RuQ1eOrxlaxUig47_80P8/0/di" border="0" ismap="true"></img></a><br/> <a href="http://feedads.g.doubleclick.net/~a/jHVbe4RuQ1eOrxlaxUig47_80P8/1/da"><img src="http://feedads.g.doubleclick.net/~a/jHVbe4RuQ1eOrxlaxUig47_80P8/1/di" border="0" ismap="true"></img></a></p><img src="http://feeds.feedburner.com/~r/Clusterstock-JohnCarney/~4/FOFbLGZ5L3M" height="1" width="1"/> http://www.businessinsider.com/battle-of-wall-street-bust-books-day-3-gasparino-still-pounding-away-at-sorkin-2009-11 http://www.businessinsider.com/bonuses-could-jump-40-pct-on-wall-street-2009-11 Bonuses Might Jump 40% On Wall Street http://feedproxy.google.com/~r/Clusterstock-JohnCarney/~3/EVYqIPA-R0c/bonuses-could-jump-40-pct-on-wall-street-2009-11 Thu, 05 Nov 2009 13:35:00 -0500 John Carney <p><img class="float_right" src="http://static.businessinsider.com/~~/f?id=4aef3cd2000000000096f2cc" border="0" alt="santahatbonus.jpg" /></p><p></p> <p>Happy times are here again.</p> <p>From the AP's Stephen Bernard:</p> <p> — A new study by a compensation consultant says big bonuses are returning for some top executives and traders on Wall Street as the investment banking industry recovered this year.</p> <p>Johnson Associates said Thursday employees at companies no longer under strict government oversight are likely to find a big boost in their year-end paychecks compared with 2008.</p> <p>It projects workers at Wall Street banks will see between a 30 percent and 40 percent jump in year-end bonuses.</p> <p>But the compensation consulting firm says pay is still likely to fall below that seen in 2007, however.</p> <p>Banking bonuses have become a hot-button political issue as financial markets have recovered much faster than the broader economy and the nation's unemployment rate approaches 10 percent.</p><p><a href="http://www.businessinsider.com/bonuses-could-jump-40-pct-on-wall-street-2009-11#comments">Join the conversation about this story »</a></p> <p><a href="http://feedads.g.doubleclick.net/~a/ub80I7V-iY1DGPtNOwvjZts4Fwo/0/da"><img src="http://feedads.g.doubleclick.net/~a/ub80I7V-iY1DGPtNOwvjZts4Fwo/0/di" border="0" ismap="true"></img></a><br/> <a href="http://feedads.g.doubleclick.net/~a/ub80I7V-iY1DGPtNOwvjZts4Fwo/1/da"><img src="http://feedads.g.doubleclick.net/~a/ub80I7V-iY1DGPtNOwvjZts4Fwo/1/di" border="0" ismap="true"></img></a></p><img src="http://feeds.feedburner.com/~r/Clusterstock-JohnCarney/~4/EVYqIPA-R0c" height="1" width="1"/> http://www.businessinsider.com/bonuses-could-jump-40-pct-on-wall-street-2009-11 http://www.businessinsider.com/galleon-prosecutor-we-are-not-finished-2009-11 Insider Trading Prosecutor: "We Are Not Finished" http://feedproxy.google.com/~r/Clusterstock-JohnCarney/~3/uT-fuDKl_V8/galleon-prosecutor-we-are-not-finished-2009-11 Thu, 05 Nov 2009 12:30:00 -0500 John Carney <p><img class="float_right" src="http://static.businessinsider.com/~~/f?id=4add99e5000000000016b0da" border="0" alt="prosecutorbharara.jpg" /></p><p>US Attorney Preet Bharara just sent chills through hedge funds and Wall Street trading desks.</p> <p>"We're not finished," the prosecutor who has charged 20 people with insider trading said.</p> <p>"How pervasive is insider trading? The answer is we don't know. But we intend to find out," the prosecutor said.</p> <p>He also issued a call for anyone involved in insider trading to come forward.</p> <p>"You should knock on our door before we knock on yours," he said.</p> <p>Once again, the investigators in the case used hardcore criminal law enforcement techniques to catch alleged insider traders. Phones were tapped and cooperating witnesses wore wires to meetings. Even attempts by the targets of the investigation to avoid surveillance by using prepaid cell phones were apparently foiled.</p><p><a href="http://www.businessinsider.com/galleon-prosecutor-we-are-not-finished-2009-11#comments">Join the conversation about this story »</a></p><p><b>See Also:</b></p><ul><li><a href="http://www.businessinsider.com/insider-trading-defendant-things-easier-to-hide-because-of-size-of-galleon-2009-11">Zvi Goffer: Galleon's Size Made It Easy To Hide Insider Trading</a></li><li><a href="http://www.businessinsider.com/details-of-the-latest-insider-trading-charges-2009-11">Details Of The Latest Insider Trading Charges</a></li><li><a href="http://www.businessinsider.com/its-not-just-galleon-arrests-at-schottenfeld-group-incremental-capital-ropes-and-gray-2009-11">New Insider Trading Arrests At Schottenfeld Group, Incremental Capital, And Ropes & Gray</a></li></ul> <p><a href="http://feedads.g.doubleclick.net/~a/oYb9iahlu0Qo7HF8SJt75emOE4I/0/da"><img src="http://feedads.g.doubleclick.net/~a/oYb9iahlu0Qo7HF8SJt75emOE4I/0/di" border="0" ismap="true"></img></a><br/> <a href="http://feedads.g.doubleclick.net/~a/oYb9iahlu0Qo7HF8SJt75emOE4I/1/da"><img src="http://feedads.g.doubleclick.net/~a/oYb9iahlu0Qo7HF8SJt75emOE4I/1/di" border="0" ismap="true"></img></a></p><img src="http://feeds.feedburner.com/~r/Clusterstock-JohnCarney/~4/uT-fuDKl_V8" height="1" width="1"/> http://www.businessinsider.com/galleon-prosecutor-we-are-not-finished-2009-11 http://www.businessinsider.com/business-news/nov-05-youask-2009-11 Clusterstock: You Ask, We Answer http://feedproxy.google.com/~r/Clusterstock-JohnCarney/~3/vFQrV7HSwZo/nov-05-youask-2009-11 Thu, 05 Nov 2009 11:02:00 -0500 John Carney <p> <object id="tbiPlayer" classid="clsid:d27cdb6e-ae6d-11cf-96b8-444553540000" width="600" height="396"> <param name="movie" value="http://cdn.livestream.com/events/businessinsider/TBIPlayer.swf" /> <param name="allowFullScreen" value="true" /> <param name="wmode" value="transparent" />  <param name="flashvars" value="channel=tbilive&clipID=flv_c78cb52b-57a4-4b50-bcef-1cfadcc401fd" /> <embed type="application/x-shockwave-flash" width="600" height="396" src="http://cdn.livestream.com/events/businessinsider/TBIPlayer.swf" wmode="transparent" flashvars="channel=tbilive&clipID=flv_c78cb52b-57a4-4b50-bcef-1cfadcc401fd&autoPlay=false" bgcolor="#ffffff" allowfullscreen="true" name="twitcamPlayer"></embed> </object> </p> <p><strong>John Carney, Managing Editor, The Business Insider</strong></p> <p><strong>Your Questions (4 min):</strong></p> <ul> <li>Why Is Voting Not Worthwhile But Playing The Lottery Is? - EconAnalyst</li> <li>In Light Of The Fed's Commitment To Almost-Zero Interest Rates, Can We Expect Mortgage Rates To Move Down From Here? - MikeD</li> <li>Who Is Your Favorite Economist, Living Or Dead, And Why? - bidwhacker</li> <li>Would You Have Thought That It Would Take More Than 12 Months For Business Media To Get Over AIG And Start Cheering For Insurance Companies Making "All-In-Wages"? - tinbox</li> <li>CNBC Or Bloomberg TV? - bidwhacker</li> <li>Whose Beard Do You Like Better- Krugman's Or Bernanke's? - "Paul Krugman"</li> <li>Are You Guys At All Honestly Concerned With Helping The Average American Process And Understand What's Going On Around Them- To Not Get Their Home Foreclosed On Or Go Bankrupt- Or Are You Just Trying To Get As Much Traffic As Possible? - "Matt Damon"</li> <li>What Do You Think Is A Greater Threat To The Country- Werewolves Or The Zombie Apocalypse? - client9</li> </ul> <p><em>Produced By: Kamelia Angelova & William Wei</em></p><p><a href="http://www.businessinsider.com/business-news/nov-05-youask-2009-11#comments">Join the conversation about this story »</a></p><p><b>See Also:</b></p><ul><li><a href="http://www.businessinsider.com/aig-shares-skyrocket-as-rumors-of-government-pullback-float-2009-11">AIG Shares Skyrocket As Rumors Of Government Pullback Float (AIG)</a></li><li><a href="http://www.businessinsider.com/its-okay-that-you-didnt-vote-today-2009-11">It's Okay That You're Not Voting Today</a></li><li><a href="http://www.businessinsider.com/fed-official-banks-face-sharp-deterioration-in-loan-portfolios-2009-11">Fed Official: Banks Face Sharp Deterioration In Loan Portfolios</a></li></ul> <p><a href="http://feedads.g.doubleclick.net/~a/yHN4BRZ3S7aFx5qvtT5pZqnaKyc/0/da"><img src="http://feedads.g.doubleclick.net/~a/yHN4BRZ3S7aFx5qvtT5pZqnaKyc/0/di" border="0" ismap="true"></img></a><br/> <a href="http://feedads.g.doubleclick.net/~a/yHN4BRZ3S7aFx5qvtT5pZqnaKyc/1/da"><img src="http://feedads.g.doubleclick.net/~a/yHN4BRZ3S7aFx5qvtT5pZqnaKyc/1/di" border="0" ismap="true"></img></a></p><img src="http://feeds.feedburner.com/~r/Clusterstock-JohnCarney/~4/vFQrV7HSwZo" height="1" width="1"/> http://www.businessinsider.com/business-news/nov-05-youask-2009-11 http://www.businessinsider.com/details-of-the-latest-insider-trading-charges-2009-11 Details Of The Latest Insider Trading Charges http://feedproxy.google.com/~r/Clusterstock-JohnCarney/~3/kAEQUGQsdmI/details-of-the-latest-insider-trading-charges-2009-11 Thu, 05 Nov 2009 10:42:00 -0500 John Carney <p><img class="float_right" src="http://static.businessinsider.com/~~/f?id=4af2f25a00000000005096b8" border="0" alt="criminalchargeszvigoffer.jpg" /></p><p>Here are the details on the criminal charges filed by US prosecutors' alleged involvement in insider trading.</p> <p>The latest round of charges revolve around a former Galleon Group employee.</p> <p>At the center of the matter is Zvi Goffer. The feds alleged that Goffer ran an insider-trading network, first at Galleon, then at his own firm, Incremental Capital. The network would obtain non-public information about companies' planned merger and acquisitions.</p> <p>Borrowing a page from<em> The Wire</em>, Mr. Goffer allegedly handed out "burners"--disposable prepaid cell phones--to his co-conspirators.</p> <p>The complaint mentions several deals:</p> <ul> <li>the 2007 acquisition of Avaya Inc by Silver Lake and TPG Capital</li> <li>the 2007 acquisition of 3Com by Bain Capital Partners LLC</li> <li>the acquisition of Kronos Inc by Hellman & Friedman</li> <li>the acquisition of Axcan Pharma, Inc by TPG</li> <li>and Blackstone's acquisition of Hilton Hotels Corp.</li> </ul> <p>Here is the full complaint (via the WSJ)</p> <p> </p> <p><a href="http://www.scribd.com/doc/22156322/New-Insider-Trading-Complaint" title="View New Insider Trading Complaint on Scribd">New Insider Trading Complaint</a> <object id="doc_760491156459133" classid="clsid:d27cdb6e-ae6d-11cf-96b8-444553540000" width="100%" height="500" codebase="http://download.macromedia.com/pub/shockwave/cabs/flash/swflash.cab#version=9,0,0,0" name="doc_760491156459133" align="middle"> <param name="movie" value="http://d1.scribdassets.com/ScribdViewer.swf?document_id=22156322&access_key=key-5jcn9nl5cayov0we9vr&page=1&version=1&viewMode=list" /> <param name="quality" value="high" /> <param name="play" value="true" /> <param name="loop" value="true" /> <param name="scale" value="showall" /> <param name="wmode" value="opaque" /> <param name="devicefont" value="false" /> <param name="bgcolor" value="#ffffff" /> <param name="menu" value="true" /> <param name="allowFullScreen" value="true" /> <param name="allowScriptAccess" value="always" /> <param name="salign" /> <param name="mode" value="list" /> <embed type="application/x-shockwave-flash" width="100%" height="500" src="http://d1.scribdassets.com/ScribdViewer.swf?document_id=22156322&access_key=key-5jcn9nl5cayov0we9vr&page=1&version=1&viewMode=list" quality="high" pluginspage="http://www.macromedia.com/go/getflashplayer" play="true" loop="true" scale="showall" wmode="opaque" devicefont="false" bgcolor="#ffffff" name="doc_760491156459133_object" menu="true" allowfullscreen="true" allowscriptaccess="always" mode="list" align="middle"></embed> </object> </p><p><a href="http://www.businessinsider.com/details-of-the-latest-insider-trading-charges-2009-11#comments">Join the conversation about this story »</a></p><p><b>See Also:</b></p><ul><li><a href="http://www.businessinsider.com/ropes-and-gray-attorney-named-in-insider-trading-complaint-2009-11">Ropes & Gray Attorney Arthur Cutillo Named In Insider Trading Complaint</a></li><li><a href="http://www.businessinsider.com/alleged-insider-trader-michael-kimelman-is-a-former-sullivan-and-cromwell-lawyer-2009-11">Alleged Insider Trader Michael Kimelman Is A Former Sullivan & Cromwell Associate</a></li><li><a href="http://www.businessinsider.com/its-not-just-galleon-arrests-at-schottenfeld-group-incremental-capital-ropes-and-gray-2009-11">New Insider Trading Arrests At Schottenfeld Group, Incremental Capital, And Ropes & Gray</a></li></ul> <p><a href="http://feedads.g.doubleclick.net/~a/D47l5YgWmX5LHk8ZPONGtVapPMk/0/da"><img src="http://feedads.g.doubleclick.net/~a/D47l5YgWmX5LHk8ZPONGtVapPMk/0/di" border="0" ismap="true"></img></a><br/> <a href="http://feedads.g.doubleclick.net/~a/D47l5YgWmX5LHk8ZPONGtVapPMk/1/da"><img src="http://feedads.g.doubleclick.net/~a/D47l5YgWmX5LHk8ZPONGtVapPMk/1/di" border="0" ismap="true"></img></a></p><img src="http://feeds.feedburner.com/~r/Clusterstock-JohnCarney/~4/kAEQUGQsdmI" height="1" width="1"/> http://www.businessinsider.com/details-of-the-latest-insider-trading-charges-2009-11 http://www.businessinsider.com/boe-adds-25-billion-pounds-in-monetary-expansion-2009-11 BoE Adds 25 Billion Pounds To Quantitative Easing http://feedproxy.google.com/~r/Clusterstock-JohnCarney/~3/dA1nLbr4buQ/boe-adds-25-billion-pounds-in-monetary-expansion-2009-11 Thu, 05 Nov 2009 07:10:00 -0500 John Carney <p><img class="float_right" src="http://static.businessinsider.com/~~/f?id=4adaff0a00000000001d0ca2" border="0" alt="UK pound sterling" /></p><p>No sign of a return to monetary normalcy in the UK either. </p> <p style="padding-left: 30px;">LONDON (AP) — The Bank of England says it will pour another 25 billion pounds ($41 billion) into the economy and keep its main interest rate at 0.5 percent for the eighth consecutive month.</p> <p style="padding-left: 30px;">The monetary policy committee's decision to further expand the money supply to 200 billion pounds comes after last week's surprise news showing that the British economy remains in recession.</p> <p style="padding-left: 30px;">THIS IS A BREAKING NEWS UPDATE. Check back soon for further information. AP's earlier story is below.</p> <p style="padding-left: 30px;">LONDON (AP) — The Bank of England's injection of 175 billion pounds ($289 billion) into the economy hasn't yet pulled Britain out of recession, and the central bank now faces a difficult decision on whether to raise the stakes.</p> <p style="padding-left: 30px;">The bank's monetary policy committee began its monthly two-day meeting on Wednesday, a day before it announces its latest decision on interest rates and quantitative easing, its strategy of stimulating the economy by inflating the money supply.</p> <p style="padding-left: 30px;">Markets are waiting to see if the amount will be increased, and if so, by how much. Some think the bank could add 25 billion pounds or more.</p> <p style="padding-left: 30px;">"The decision appears finely balanced, although expectations are tilted towards an extension," said Simon Hayes at Barclays Capital.</p> <p style="padding-left: 30px;">The decision comes two weeks after disappointing news that U.K. gross domestic product, or economic output, fell by 0.4 percent in the third quarter, contrary to expectations that the economy would move into growth.</p> <p style="padding-left: 30px;">The key interest rate is expected to stay at a record low of 0.5 percent for the eighth consecutive month, but the market has been left guessing about the Bank's next move on monetary easing. The bank buys securities from banks, giving them ready cash, and credits their account at the bank, in effect creating new money.</p> <p style="padding-left: 30px;">Boosting the money supply is done during serious downturns in hopes it will get credit flowing to businesses so they can operate and expand. It has to be withdrawn as growth returns to avoid causing inflation.</p> <p style="padding-left: 30px;">"While a lot of uncertainty surrounds the accuracy of the preliminary national accounts data ... we believe that the GDP fall tips the odds in favor of the Bank of England extending QE by at least a further 25 billion pounds," said Howard Archer, chief European economist at IHS Global Insight.</p> <p style="padding-left: 30px;">"The case for more stimulus in the U.K. will be strengthened by signs that the 175 billion of asset purchases are still not getting much 'bang for the buck' when it comes to credit growth or the money supply more generally," said Andrew McLaughlin, chief economist at Royal Bank of Scotland.</p> <p style="padding-left: 30px;">The issue for the MPC, however, is whether recovery is coming, even if not as strongly as hoped, in which case no further stimulus would be needed. There have been some positive signs. House prices are rising again, and so are mortgage approvals; retail sales are up and consumers are more confident.</p> <p style="padding-left: 30px;">On Tuesday, Lloyds Banking Group PLC confirmed that conditions have improved enough for it to do without government insurance on any toxic assets, even if it needs another 5.7 billion pounds from the Treasury — part of a project to raise 21 billion pounds — to shore up its balance sheet.</p> <p style="padding-left: 30px;">But Lloyds is still losing money, and that's the flip side of much of the recent "good" news. Many indicators look good only in comparison to the depths of the recession earlier this year.</p> <p style="padding-left: 30px;">Unemployment is expected to grow, and some analysts fear a W-shaped recession.</p> <p style="padding-left: 30px;">Minutes of the MPC's October meeting, when it decided to stand pat on quantitative easing, revealed that there were differences among the nine members on what to do next.</p> <p style="padding-left: 30px;">The minutes indicated committee thought the program had helped boost prices for stocks and bonds, despite criticism from some economists that banks were simply holding on to the funds to boost their own balance sheets rather than expand lending.</p> <p style="padding-left: 30px;">___</p> <p style="padding-left: 30px;">On the Net: http://www.bankofengland.co.uk</p><p><a href="http://www.businessinsider.com/boe-adds-25-billion-pounds-in-monetary-expansion-2009-11#comments">Join the conversation about this story »</a></p><p><b>See Also:</b></p><ul><li><a href="http://www.businessinsider.com/at-least-were-not-england-2009-11">At Least We're Not England</a></li><li><a href="http://www.businessinsider.com/bank-of-england-chief-mervyn-king-demands-megabanks-be-split-up-2009-10">Bank Of England Chief Mervyn King Demands Megabanks Be Split Up</a></li><li><a href="http://www.businessinsider.com/church-of-england-to-the-hedge-fund-rescue-2009-10">Church Of England Stands Up For Hedge Funds!</a></li></ul> <p><a href="http://feedads.g.doubleclick.net/~a/BFhJqFZO773Rgb_x89HUHWHREP4/0/da"><img src="http://feedads.g.doubleclick.net/~a/BFhJqFZO773Rgb_x89HUHWHREP4/0/di" border="0" ismap="true"></img></a><br/> <a href="http://feedads.g.doubleclick.net/~a/BFhJqFZO773Rgb_x89HUHWHREP4/1/da"><img src="http://feedads.g.doubleclick.net/~a/BFhJqFZO773Rgb_x89HUHWHREP4/1/di" border="0" ismap="true"></img></a></p><img src="http://feeds.feedburner.com/~r/Clusterstock-JohnCarney/~4/dA1nLbr4buQ" height="1" width="1"/> http://www.businessinsider.com/boe-adds-25-billion-pounds-in-monetary-expansion-2009-11 http://www.businessinsider.com/anti-goldman-hysteria-will-keep-corzine-out-of-obama-administration-2009-11 Anti-Goldman Hysteria Will Keep Corzine Out Of Obama Administration http://feedproxy.google.com/~r/Clusterstock-JohnCarney/~3/a4aHJVB9EKk/anti-goldman-hysteria-will-keep-corzine-out-of-obama-administration-2009-11 Wed, 04 Nov 2009 16:38:00 -0500 John Carney <p><img class="float_right" src="http://static.businessinsider.com/~~/f?id=4ab798d1f0c689631ebb6018" border="0" alt="jon-corzine.jpg" /></p><p>President Barack Obama has mulled offering ousted New Jersey governor Jon Corzine a position in his administration but some aides are warning him against it.</p> <p>Corzine, who lost yesterday's election to Republican Chris Christie, had counted on Obama's star power to give his campaign a lift. The president headlined two events in New Jersey on Sunday, putting his prestige on the line for Corzine. It wasn't enough.</p> <p>Now Obama is considering whether to offer Corzine a position in his administration. But Corzine may lose out to popular concerns about the role of Goldman Sachs in our government. Corzine was co-Chairman and co-CEO of Goldman in the 1990s. With the public still furious at the Wall Street bailout and suspicious of Goldman, Corzine's Goldman connection could be a serious political liability.</p> <p>A person familiar with the matter said top White House aides have been trying to get the message across to the president that Corzine should be kept at arm's length.</p> <p> </p> <p>Many believe that Corzine may return to Wall Street instead of Washington, DC. Where would Corzine go? Probably not back to Goldman. His departure there was too full of acrimony. Perhaps he will become the newest name on the list of candidates to run Bank of America.</p> <p> </p><p><a href="http://www.businessinsider.com/anti-goldman-hysteria-will-keep-corzine-out-of-obama-administration-2009-11#comments">Join the conversation about this story »</a></p><p><b>See Also:</b></p><ul><li><a href="http://www.businessinsider.com/will-jon-corzine-end-up-back-on-wall-street-2009-11">Will Jon Corzine End Up Back On Wall Street?</a></li></ul> <p><a href="http://feedads.g.doubleclick.net/~a/D3wXRTqVYJpxZqBSvnKo9tRfKuk/0/da"><img src="http://feedads.g.doubleclick.net/~a/D3wXRTqVYJpxZqBSvnKo9tRfKuk/0/di" border="0" ismap="true"></img></a><br/> <a href="http://feedads.g.doubleclick.net/~a/D3wXRTqVYJpxZqBSvnKo9tRfKuk/1/da"><img src="http://feedads.g.doubleclick.net/~a/D3wXRTqVYJpxZqBSvnKo9tRfKuk/1/di" border="0" ismap="true"></img></a></p><img src="http://feeds.feedburner.com/~r/Clusterstock-JohnCarney/~4/a4aHJVB9EKk" height="1" width="1"/> http://www.businessinsider.com/anti-goldman-hysteria-will-keep-corzine-out-of-obama-administration-2009-11 http://www.businessinsider.com/caption-contest-heres-whats-really-driving-the-markets-2009-11 Caption Contest: Here's What's Really Driving The Markets http://feedproxy.google.com/~r/Clusterstock-JohnCarney/~3/zMLc1pwgYms/caption-contest-heres-whats-really-driving-the-markets-2009-11 Wed, 04 Nov 2009 15:05:07 -0500 John Carney <p>The winner gets a copy of Charlie Gasparino's <em>The Sellout.</em></p> <p><img src="http://static.businessinsider.com/~~/f?id=4af1dd6200000000008bea44" border="0" alt="nysevplicenseplate.jpg" /></p> <p>(via <a href="http://miltnr.tumblr.com/post/232357633/i-bet-this-person-is-regretting-this-choice-of">MILTNR</a>)</p><p><a href="http://www.businessinsider.com/caption-contest-heres-whats-really-driving-the-markets-2009-11#comments">Join the conversation about this story »</a></p> <p><a href="http://feedads.g.doubleclick.net/~a/UVPBSCnyYDYMP0aWZjD-5P2ACqY/0/da"><img src="http://feedads.g.doubleclick.net/~a/UVPBSCnyYDYMP0aWZjD-5P2ACqY/0/di" border="0" ismap="true"></img></a><br/> <a href="http://feedads.g.doubleclick.net/~a/UVPBSCnyYDYMP0aWZjD-5P2ACqY/1/da"><img src="http://feedads.g.doubleclick.net/~a/UVPBSCnyYDYMP0aWZjD-5P2ACqY/1/di" border="0" ismap="true"></img></a></p><img src="http://feeds.feedburner.com/~r/Clusterstock-JohnCarney/~4/zMLc1pwgYms" height="1" width="1"/> http://www.businessinsider.com/caption-contest-heres-whats-really-driving-the-markets-2009-11 http://www.businessinsider.com/federal-reserve-holds-steady-2009-11 No Change! http://feedproxy.google.com/~r/Clusterstock-JohnCarney/~3/c1qWwVliQtM/federal-reserve-holds-steady-2009-11 Wed, 04 Nov 2009 14:19:00 -0500 John Carney <p><img class="float_right" src="http://static.businessinsider.com/~~/f?id=87b9b91448aa0849486c8e00" border="0" alt="FederalReserveCommercialPaper" /></p><p>The Federal Reserve just now signaled that it will keep in place monetary policies designed to fight the recession and the financial crisis.</p> <p>The Fed repeated language in its monetary policy statement  that interest rates will stay at a record low for an “extended period." It also reaffirmed that its program to buy mortgage backed securities will remain in place until some time in the first quarter of 2010.</p> <p>The statement did note that the economy is improving. It noted that the housing market is showing some expansion and consumer spending has increased. It expects inflation to remain "subdued."</p> <p>As expected, the Fed kept interest rate targets at zero.</p> <p>Earlier today a source told us the Fed statement would begin: "Information received since the Federal Open Market Committee met in September suggests that economic activity continued to pick up following its severe downturn..." Which is remarkably close to the actual wording. Note, however, that the "severe downturn" has been dropped.</p> <p>Here's the official statement:</p> <p style="padding-left: 30px;">Information received since the Federal Open Market Committee met in September suggests that economic activity has continued to pick up. Conditions in financial markets were roughly unchanged, on balance, over the intermeeting period. Activity in the housing sector has increased over recent months. Household spending appears to be expanding but remains constrained by ongoing job losses, sluggish income growth, lower housing wealth, and tight credit. Businesses are still cutting back on fixed investment and staffing, though at a slower pace; they continue to make progress in bringing inventory stocks into better alignment with sales. Although economic activity is likely to remain weak for a time, the Committee anticipates that policy actions to stabilize financial markets and institutions, fiscal and monetary stimulus, and market forces will support a strengthening of economic growth and a gradual return to higher levels of resource utilization in a context of price stability.</p> <p style="padding-left: 30px;">With substantial resource slack likely to continue to dampen cost pressures and with longer-term inflation expectations stable, the Committee expects that inflation will remain subdued for some time.</p> <p style="padding-left: 30px;">In these circumstances, the Federal Reserve will continue to employ a wide range of tools to promote economic recovery and to preserve price stability. The Committee will maintain the target range for the federal funds rate at 0 to 1/4 percent and continues to anticipate that economic conditions, including low rates of resource utilization, subdued inflation trends, and stable inflation expectations, are likely to warrant exceptionally low levels of the federal funds rate for an extended period. To provide support to mortgage lending and housing markets and to improve overall conditions in private credit markets, the Federal Reserve will purchase a total of $1.25 trillion of agency mortgage-backed securities and about $175 billion of agency debt. The amount of agency debt purchases, while somewhat less than the previously announced maximum of $200 billion, is consistent with the recent path of purchases and reflects the limited availability of agency debt. In order to promote a smooth transition in markets, the Committee will gradually slow the pace of its purchases of both agency debt and agency mortgage-backed securities and anticipates that these transactions will be executed by the end of the first quarter of 2010. The Committee will continue to evaluate the timing and overall amounts of its purchases of securities in light of the evolving economic outlook and conditions in financial markets. The Federal Reserve is monitoring the size and composition of its balance sheet and will make adjustments to its credit and liquidity programs as warranted.</p> <p style="padding-left: 30px;">Voting for the FOMC monetary policy action were: Ben S. Bernanke, Chairman; William C. Dudley, Vice Chairman; Elizabeth A. Duke; Charles L. Evans; Donald L. Kohn; Jeffrey M. Lacker; Dennis P. Lockhart; Daniel K. Tarullo; Kevin M. Warsh; and Janet L. Yellen.</p><p><a href="http://www.businessinsider.com/federal-reserve-holds-steady-2009-11#comments">Join the conversation about this story »</a></p> <p><a href="http://feedads.g.doubleclick.net/~a/sRegz2kGGsCy0zjLF7ZYDsvNkh0/0/da"><img src="http://feedads.g.doubleclick.net/~a/sRegz2kGGsCy0zjLF7ZYDsvNkh0/0/di" border="0" ismap="true"></img></a><br/> <a href="http://feedads.g.doubleclick.net/~a/sRegz2kGGsCy0zjLF7ZYDsvNkh0/1/da"><img src="http://feedads.g.doubleclick.net/~a/sRegz2kGGsCy0zjLF7ZYDsvNkh0/1/di" border="0" ismap="true"></img></a></p><img src="http://feeds.feedburner.com/~r/Clusterstock-JohnCarney/~4/c1qWwVliQtM" height="1" width="1"/> http://www.businessinsider.com/federal-reserve-holds-steady-2009-11 http://www.businessinsider.com/leak-fed-to-keep-rates-low-announce-end-to-purchase-of-treasuries-2009-11 LEAK: Fed To Keep Rates Low, Keep Quantitative Easing In Place http://feedproxy.google.com/~r/Clusterstock-JohnCarney/~3/rb1gwOuNEkA/leak-fed-to-keep-rates-low-announce-end-to-purchase-of-treasuries-2009-11 Wed, 04 Nov 2009 12:07:00 -0500 John Carney <p><img class="float_right" src="http://static.businessinsider.com/~~/f?id=9c37544bd17bad4917287a00" border="0" alt="benbernanke smiling tbi" /></p><p>The Federal Reserve will reaffirm its low interest rate policy later this afternoon, a person inside the Federal Reserve said.</p> <p>The central bankers are fearful that any change to the wording of its interest rate policy or economic outlook will cause a huge panic in the stock market, the person said. As a result, it is highly likely the wording about interest rate policy will not change at all.</p> <p>Of course, the debate is still continuing inside the Fed. Some inside the Fed have argued that the central bank should begin to signal an end to the zero-interest rate policy to strengthen the dollar. But worries about deflation and a lingering recession are holding sway, the person said.</p> <p>The big debate is about how to acknowledge improved economic conditions without sparking fears of an imminent rate increase, the person said. Balancing concerns about stymieing the recovery by raising fears of a rate hike too early are concerns about the credibility of the Fed. If improved economic conditions are not acknowledged, it is feared that the Fed will be perceived as out of touch. The dominant thinking, however, is that the current statement goes far enough in acknowledging the recovery.</p> <p>Our source tells us to expect the first sentence to read: "Information received since the Federal Open Market Committee met in September suggests that economic activity continued to pick up following its severe downturn..."</p> <p>The key sentence on interest rates will likely remain completely unchanged. "The Committee will maintain the target range for the federal funds rate at 0 to 1/4 percent and continues to anticipate that economic conditions are likely to warrant exceptionally low levels of the federal funds rate for an extended period," the FOMC said last time.</p> <p>The only major change in the statement is likely to be the acknowledgment that the Fed's program of  purchasing US Treasuries securities has now been completed.</p> <p>The person, who has provided reliable information about the thinking inside the Fed in the past, was last exposed to the planning on today's announcement three hours ago. It is possible, the source warns, that last minute changes could be made to the statement. The Fed doesn't officially approve its statement until the end of its meeting.</p> <p>The Fed's policy-setting Federal Open Market Committee resumed a two-day meeting at about 9 a.m.  . The Fed is expected to issue a statement around 2:15 p.m.</p> <p><em>As always, please exercise extreme caution when taking any action based on anonymous, single source stories. We trust our source is providing us with reliable information but the information is a few hours old and it is always possible that the source has been misled.</em></p><p><a href="http://www.businessinsider.com/leak-fed-to-keep-rates-low-announce-end-to-purchase-of-treasuries-2009-11#comments">Join the conversation about this story »</a></p><p><b>See Also:</b></p><ul><li><a href="http://www.businessinsider.com/henry-blodget-clever-ben-bernankes-secret-plan-raise-rates-too-late-2009-11">Clever Ben Bernanke's Secret Plan: Raise Rates Too Late</a></li><li><a href="http://www.businessinsider.com/imf-the-time-has-come-to-jack-interest-rates-2009-11">IMF: Dear Bernanke, It's Time To Jack Up Interest Rates</a></li></ul> <p><a href="http://feedads.g.doubleclick.net/~a/peCsUStyhdGNKbi0SbdB3l31iys/0/da"><img src="http://feedads.g.doubleclick.net/~a/peCsUStyhdGNKbi0SbdB3l31iys/0/di" border="0" ismap="true"></img></a><br/> <a href="http://feedads.g.doubleclick.net/~a/peCsUStyhdGNKbi0SbdB3l31iys/1/da"><img src="http://feedads.g.doubleclick.net/~a/peCsUStyhdGNKbi0SbdB3l31iys/1/di" border="0" ismap="true"></img></a></p><img src="http://feeds.feedburner.com/~r/Clusterstock-JohnCarney/~4/rb1gwOuNEkA" height="1" width="1"/> http://www.businessinsider.com/leak-fed-to-keep-rates-low-announce-end-to-purchase-of-treasuries-2009-11 http://www.businessinsider.com/was-obama-a-one-hit-wonder-2009-11 Was Obama A One Hit Wonder? http://feedproxy.google.com/~r/Clusterstock-JohnCarney/~3/92eU8rt5IDU/was-obama-a-one-hit-wonder-2009-11 Wed, 04 Nov 2009 11:31:09 -0500 John Carney <p class="post-title entry-title"><img class="float_right" src="http://static.businessinsider.com/~~/f?id=4ae60b0500000000004dfa82" border="0" alt="barack obama president " />The giant Republican victories last night were, in part, based on the fact that young people just aren't into voting anymore.</p> <p class="post-title entry-title"><a href="http://isteve.blogspot.com/2009/11/obama-youth-voting-is-so-2008.html">Steve Sailer reports:</a></p> <p style="padding-left: 30px;">The dogs that haven't barked for the last six months have been the Obama Youth, who turned out in large numbers for him in 2008. If you can trust the exit polls (which you can't, but what else do we have to go upon?), in the two gubernatorial races tonight, both won by Republicans in states Obama carried in 2008, the under-30 share of the vote fell to about half what it was last year.<br /><br /><a href="http://www.nytimes.com/interactive/2009/11/04/nyregion/1104-nj-exit-poll.html">New Jersey</a><br /><a href="http://www.cnn.com/ELECTION/2008/results/polls/#NJP00p1">2008</a>: 18-29 year olds cast 17% of votes, 67% for Obama<br /><a href="http://www.nytimes.com/interactive/2009/11/04/nyregion/1104-nj-exit-poll.html">2009</a>: 18-29 year olds cast 9% of votes, 57% for Corzine<br /><br />2008: 73% white, 49% for Obama<br />2009: 73% white, 34% for Corzine<br /><br />Virginia<br /><a href="http://www.cnn.com/ELECTION/2008/results/polls/#val=VAP00p1">2008</a>: 18-29 year olds cast 21% of votes, 60% for Obama<br /><a href="http://www.nytimes.com/interactive/2009/11/04/us/politics/1104-va-exit-poll.html">2009</a>: 18-29 year olds cast 10% of votes, 44% for Deeds<br /><br />2008: 70% white, 39% for Obama<br />2009: 78% white, 32% for Deeds<br /><br />Would Obama have had more legislative success if he'd kept the Kids interested by first emphasizing Saving the World through carbon capping instead of something boring and unsexy and will-never-happen-to-me like health care?<br /><br />Or are young people always bored with day to day politics?<br /><br />Or was Obama just a fad, like how my generation decided in 1982-83 that Men at Work was the greatest band in history?</p><p><a href="http://www.businessinsider.com/was-obama-a-one-hit-wonder-2009-11#comments">Join the conversation about this story »</a></p><p><b>See Also:</b></p><ul><li><a href="http://www.businessinsider.com/mayor-bloomberg-in-election-night-trouble-2009-11">Mayor Bloomberg's Narrow Victory</a></li><li><a href="http://www.businessinsider.com/huge-election-night-for-the-gop-2009-11">HUGE Election Night For the GOP</a></li></ul> <p><a href="http://feedads.g.doubleclick.net/~a/c3wc3hcIpUgCYJDUKtFzvuLhF7g/0/da"><img src="http://feedads.g.doubleclick.net/~a/c3wc3hcIpUgCYJDUKtFzvuLhF7g/0/di" border="0" ismap="true"></img></a><br/> <a href="http://feedads.g.doubleclick.net/~a/c3wc3hcIpUgCYJDUKtFzvuLhF7g/1/da"><img src="http://feedads.g.doubleclick.net/~a/c3wc3hcIpUgCYJDUKtFzvuLhF7g/1/di" border="0" ismap="true"></img></a></p><img src="http://feeds.feedburner.com/~r/Clusterstock-JohnCarney/~4/92eU8rt5IDU" height="1" width="1"/> http://www.businessinsider.com/was-obama-a-one-hit-wonder-2009-11 http://www.businessinsider.com/bear-stearns-banker-hits-final-round-of-world-series-of-poker-2009-11 Bear Stearns Banker Headed To Final Table Of World Series Of Poker http://feedproxy.google.com/~r/Clusterstock-JohnCarney/~3/Lyzn4KYQdfk/bear-stearns-banker-hits-final-round-of-world-series-of-poker-2009-11 Wed, 04 Nov 2009 09:43:00 -0500 John Carney <p><img class="float_right" src="http://static.businessinsider.com/~~/f?id=0f37544baeb7ae490aa2ff00" border="0" alt="pokerchipsflickr tbi" /></p><p>Steven Begleiter, formerly an investment banker at Bear Stearns, has made it to the finals of the World Series of Poker's main event.</p> <p>From Time Magazine:</p> <p style="padding-left: 30px;">The man called "Begs" enters the final table with 29.9 million chips, which is third most. He'll be competing against plenty of pros seated around the table, including Phil Ivey (9.8 million chips), who many believe is the best poker player alive, and another accomplished pro, Jeff Shulman (19.6 million chips).</p> <p style="padding-left: 30px;">Some of the pros, anyway, are licking their chops at the prospect of facing Begleiter. "He'll call big raises and reraises with hands that no pro would play," says pro Phil Hellmuth, who is coaching Shulman. He calls Begleiter "a loose cannon" who could lose all of his chips to Shulman in a single hand. "At some point he's going to make a mistake."</p> <p style="padding-left: 30px;">"Phil Hellmuth has forgotten more about poker than I will ever know," says Begleiter. "So if he says I will make a big mistake I presume he is a heavy favorite to be right. But I guess I'll still show up and see what happens." Begleiter acknowledges the X-factor dimension he brings to the final table but says it could be his ace in the hole; his unpredictability helps make him a dangerous player.</p> <div id="TixyyLink" style="border: medium none; overflow: hidden; color: #000000; background-color: transparent; text-align: left; text-decoration: none;"><br />Read more from <a href="http://www.time.com/time/business/article/0,8599,1934041,00.html?xid=rss-topstories#ixzz0VtyE2UHq">Time Magazine.</a></div><p><a href="http://www.businessinsider.com/bear-stearns-banker-hits-final-round-of-world-series-of-poker-2009-11#comments">Join the conversation about this story »</a></p><p><b>See Also:</b></p><ul><li><a href="http://www.businessinsider.com/former-bear-stearns-executives-makes-it-to-final-table-in-world-series-of-poker-2009-7">Former Bear Stearns Executive Makes It To Final Table In World Series Of Poker</a></li><li><a href="http://www.businessinsider.com/henry-blodget-how-to-make-millions-playing-poker-and-running-online-poker-sites-2009-4">How To Make Millions Playing Poker</a></li><li><a href="http://www.businessinsider.com/2008/11/so-who-s-psyched-about-the-wsop-final-table-">So, Who's Psyched About The WSOP Final Table?</a></li></ul> <p><a href="http://feedads.g.doubleclick.net/~a/qRcnH53eZOKKzlr1ZZZbOsQwSp4/0/da"><img src="http://feedads.g.doubleclick.net/~a/qRcnH53eZOKKzlr1ZZZbOsQwSp4/0/di" border="0" ismap="true"></img></a><br/> <a href="http://feedads.g.doubleclick.net/~a/qRcnH53eZOKKzlr1ZZZbOsQwSp4/1/da"><img src="http://feedads.g.doubleclick.net/~a/qRcnH53eZOKKzlr1ZZZbOsQwSp4/1/di" border="0" ismap="true"></img></a></p><img src="http://feeds.feedburner.com/~r/Clusterstock-JohnCarney/~4/Lyzn4KYQdfk" height="1" width="1"/> http://www.businessinsider.com/bear-stearns-banker-hits-final-round-of-world-series-of-poker-2009-11 http://www.businessinsider.com/chart-of-the-day-first-time-homebuyers-dominate-the-market-2009-11 CHART OF THE DAY: First-Time Homebuyers Rising To Dominate Housing Market http://feedproxy.google.com/~r/Clusterstock-JohnCarney/~3/7-niHpq0c0I/chart-of-the-day-first-time-homebuyers-dominate-the-market-2009-11 Tue, 03 Nov 2009 16:56:00 -0500 John Carney and Kamelia Angelova <div style="float: right; margin: 15px 0 20px 20px;"> <table border="0" cellspacing="0" cellpadding="0"> <tbody> <tr> <td colspan="2"><a href="http://www.businessinsider.com/chart-of-the-day"><img src="http://static.businessinsider.com/~~/f?id=4a32b8394b543722009a9671" border="0" alt="button more charts" /></a></td> </tr> <tr> <td><a href="http://www.businessinsider.com/chart-of-the-day-japan-vs-us-interest-rates-2009-11"><img src="http://static.businessinsider.com/~~/f?id=4a32b8424b543722009a967a" border="0" alt="button chart prev" /></a></td> <td><a href="http://www.businessinsider.com/chart-of-the-day-yahoo-needs-to-monetize-its-large-international-user-base-2009-11"><img src="http://static.businessinsider.com/~~/f?id=4a32b84d4b543722009a9685" border="0" alt="button chart next" /></a></td> </tr> </tbody> </table> </div> <p>First time home buyers have risen from a tiny percentage of the market for homes to making up a significant portion of the market. Even the panic at the end of 2008 barely slowed down the first timers. In the most troubled markets, such as Las Vegas, Nevada, the first time buyers are actually dominating the market.</p> <p>FHA loans are extremely popular with first time home buyers, which is one reason that the market for homes has become so dependent on the FHA.</p> <p>(Our thanks to <a href="http://www.dqnews.com/Articles/2009/News/Las-Vegas/RRCLNV091028.aspx">DQNews.com</a> for the data used in this chart.)</p> <p><img class="chartOfTheDay" src="http://static.businessinsider.com/~~/f?id=4af0a3a50000000000be4a18" border="0" alt="clusterstock110309.gif" /></p> <hr /> <h3>Get This Delivered To Your Inbox</h3> <p>You can get this dropped in your inbox every afternoon as <strong>The Chart Of The Day</strong>. It's simple. It's convenient. It's free. 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