The Opposite of Austerity?

The tallies are in and voters in France and Greece have spoken. Austerity is OK for others, but not for us. France has said “non!” to another stint with Nicolas Sarkozy and have instead elected Francois Hollande to become its first Socialist president since Francois...

The One-Way Dead-End Street

“I’m living on a one-way, dead-end street. I don’t know how I ever got there.” -- Comedian Steven Wright When the members of the European Common Market agreed to form a monetary union in 1999, with the euro as its common currency, the continent was forced upon a...

John Lothian Newsletter: MF Global Collapse Prompts Clash Over Collateral; Exchanges Push Back Deadline For New Stock-Market Safeguards; Greek Default Insurance Doesn’t Need to Pay Out After Bailout, ISDA Says

Considering the MF Global collapse and how it damaged customer funds, various participants in the futures industry bring forth proposals on how to protect customer collateral. Exchange operators in the US agree to let regulators have another three months to figure out...

John Lothian Newsletter: BATS Global Markets Plans Final Steps Toward $100M IPO; Greek Legal Maneuvers Raise Fears of Euro-Zone Debt Fallout; CFTC to Consider Post-MF Global Futures-Collateral Safeguards

BATS Global Markets hopes to launch its IPO sometime next month.  As Greece hurries to put debt-related laws into place, creditors of that nation worry about far-reaching consequences of that legislative effort.  The CFTC will next week consider ideas to safeguard...

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