Russia Bullies Ukraine–Again

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The major news story of this week concerns the Ukrainian region of Crimea, now under de facto Russian military occupation after the collapse of its government earlier this year. If you ask the Russians, they are just doing their part to stabilize an otherwise unstable country that remains under the control of an illegitimate government. […]

The Standoff in Washington

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It makes sense that investors would react positively to Thursday’s news that the Obama administration and House Republicans are willing to trade a short-term debt limit increase for “separate negotiations” on a number of other budget issues, a small step in the showdown between the two sides. After all, the government was closed and (sarcastic […]

The Post-Election Correction

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On November 6, President Obama was re-elected for 4 more years. On November 7, the S&P 500 fell -2.3% and has continued to fall since; it is now down -4.6% since Election Day. Overseas markets have fared somewhat better, as the MSCI All-Country World ex-US index is down only -3.3% over the same period. What […]

Financial Reform Red Tape

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On July 21, 2010, President Obama signed the Dodd–Frank Wall Street Reform and Consumer Protection Act (aka Dodd-Frank) into law. The main purpose of the law, enacted in response to the 2007-2008 financial crisis, was to improve financial regulation sufficiently to avoid another such crisis in the future. The major provisions of Dodd-Frank require more […]

U.S.: Open for Business

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After backing a number of initiatives aimed at spending money to boost the American economy, the Obama administration is considering an investment initiative that seeks to attract $1 trillion in foreign direct investment over the next five years. Investment from overseas creates jobs in the U.S. and moves us closer to an even balance of […]

AT&T/T-Mobile USA Merger on the Rocks?

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Yesterday, the U.S. Justice Department took its first step toward blocking AT&T’s takeover of T-Mobile USA by filing an antitrust lawsuit in federal court. ATT stock (NYSE: T) fell -4.6% Wednesday while T-Mobile’s parent company Deutsche Telekom AG (PINK: DTEGY) fell -8.1%. According to deputy attorney general James Cole, the proposed merger, which would have […]

The US Will Not Default

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Dear Client, This is an extra, unscheduled email for those of you who might be feeling nervous after today’s market decline (the S&P 500 was down –2.0%, and is down –3.0% in the past 3 trading days). There was no specific trigger, just a lot of unrelated worries, including the continued stalemate in DC. Also […]