Marc Chandler, Marc to Market
In the five sessions through Tuesday, the Greek stock market has rallied 25%. Equity traders seems to anticipate the election outcome. A new government is not yet in place, but many are still confident it will be announced in the very near-term. At the same time, European officials seem to be much more supportive then they were prior to the vote. They seem more willing to modify the Greece’s program [...]
Barack Obama is scrambling to find a heavyweight US candidate to stand for the job of president of the World Bank, with the deadline for nominations looming.
Two credible developing country candidates – Ngozi Okonjo-Iweala, the Nigerian finance minister, and José Antonio Ocampo, the Colombian former finance minister and development economist – have already joined the race, together with the American economist Jeffrey Sachs, who has the backing of several developing countries.
by Simon Black of Sovereign Man
The Long Arm Of Uncle Sam Just Got Longer
This one’s hot off the presses. Just yesterday, our friends at the Financial Crimes Enforcement Network (FinCEN) issued a press release on its latest ruling related to foreign ‘money service businesses (MSBs).’
An MSB is a private company that provides certain financial services like check cashing, money orders, title pawn, payday loans, travelers’ checks, prepaid stored value cards, tax [...]