Author Interviews

David Enrich

http://media.blubrry.com/eatthebankers/p/content.blubrry.com/eatthebankers/DAVID_ENRICH-03-24-2017.mp3Podcast: Play in new window | Download (Duration: 19:49 — 11.3MB)Subscribe: Apple Podcasts | Android | RSSSinclair Noe interviews David Enrich, author of “The Spider Network: The Wild Story of a Math Genius, a Gang of Backstabbing Bankers, and One of the Greatest Scams in Financial History”

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Financial Review

Lonesome Tom and Tom Alone

http://media.blubrry.com/eatthebankers/p/content.blubrry.com/eatthebankers/SINCLAIR_NOE-SEG_1-01-27-2016.mp3Podcast: Play in new window | Download (Duration: 13:16 — 6.1MB)Subscribe: Apple Podcasts | Android | RSS  Financial Review by Sinclair Noe for 01-27-2016 DOW – 222 = 15,944 SPX – 20 = 1882 NAS – 99 = 4468 10 Y + .01 = 2.00% OIL + .71 = 32.16 GOLD + 5.00 = 1125.70 Stocks started the session down, a little over 150 points, then rallied and turned positive, then the Fed released its policy statement to wrap up its two-day FOMC meeting, and stocks fell again; 350 points from peak to trough, even though there was no surprise in the statement.   The Federal Reserve statement had a few changes from the last statement. First, there was no change in interest rates – as expected. The Fed says it expects the economy will continue to warrant only gradual rate increases – as expected. They will closely monitor global economic and financial developments – a soft backpedal from December, when they said risks were balanced. Not a big surprise. Inflation is expected to remain low because oil prices are down, but that won’t last forever – yeah, yeah. The strong dollar is a bit of a drag. Information received since the Federal Open Market Committee met in December suggests that labor market conditions improved further even as economic growth slowed late last year – an acknowledgement that economic growth slowed, well that’s different. Their confidence in the economy has eroded since December. Not exactly. The Fed also noted the strength …

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Financial Review

Cleaning Up

http://media.blubrry.com/eatthebankers/p/content.blubrry.com/eatthebankers/SINCLAIR_NOE-SEG_1-08-03-2015.mp3Podcast: Play in new window | Download (Duration: 13:16 — 6.1MB)Subscribe: Apple Podcasts | Android | RSSFinancial Review by Sinclair Noe DOW – 91 = 17,598 SPX – 5 = 2098 NAS – 12 = 5115 10 YR YLD – .05 = 2.15% OIL – 1.95 = 45.17 GOLD – 9.10 = 1087.10 SILV – .30 = 14.59   This is going to be an extremely busy week. We still have a third of S&P 500 companies to report earnings. There’s also going to be a plethora of economic activity culminating in the Friday jobs report for July. Oil prices hit a six month low. It’s not just oil. Commodities prices across the board are falling thanks to slowing global demand and a rising dollar. All of this makes it very unlikely we’ll see a big pickup in inflation any time soon.   The Athens Stock Exchange reopened today and it was ugly. The ASE Stock Index dropped 23% after being closed for five weeks, with banking shares down by as much as 30%. The index managed to recover from session lows but still closed down 16%. While local traders are able to buy stocks, bonds, derivatives and warrants under certain conditions, international investors don’t face any restrictions, as long as they were active in the markets before they were shuttered.   The selloff shows the scale of the crisis still facing Prime Minister Alexis Tsipras as he negotiates a third bailout with creditors after six months that have put unprecedented strain on the …

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Financial Review

Risk Off

http://media.blubrry.com/eatthebankers/p/content.blubrry.com/eatthebankers/SINCLAIR_NOE-SEG_1-07-27-2015.mp3Podcast: Play in new window | Download (Duration: 13:16 — 6.1MB)Subscribe: Apple Podcasts | Android | RSSFinancial Review by Sinclair Noe DOW – 127 = 17,440 SPX – 12 = 2067 NAS – 48 = 5039 10 YR YLD – .04 = 2.23% OIL – .75 = 47.39 GOLD – 5.00 = 1095.50 SILV – .20 = 14.64   Chinese stocks fell sharply today. The Shanghai Composite fell 8.5% to record its largest one-day drop since June 2007, and the Shenzhen A-shares index lost 7% of its value. Weak manufacturing data revealed that profit at the country’s industrial firms dropped 0.3% in June from a year earlier, but the markets appear to be responding to government attempts to stabilize the country’s volatile stock markets; it seems like the Chinese government’s heavy-handed intervention measures are spooking investors. The fear is that the government will withdraw stimulus measures, and once the support disappears, the market won’t be able to stand on its own. In a way, the investors might be front-running the government; getting out before stimulus dries up.   Commodity prices resumed their downward spiral with the CRB commodities index hitting its lowest levels in six years and oil prices hitting a four-month low. Nine of the 10 major S&P 500 sectors were lower with the energy index leading the decliners. Stocks came off session lows in the close. The S&P 500 dipped below its 200-day moving average of 2,064 and closed a few points above it. The energy sector was the worst …

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Financial Review

Sound and Fury

http://media.blubrry.com/eatthebankers/p/content.blubrry.com/eatthebankers/SINCLAIR_NOE-SEG_1-07-10-2015.mp3Podcast: Play in new window | Download (Duration: 13:15 — 6.1MB)Subscribe: Apple Podcasts | Android | RSSFinancial Review by Sinclair Noe DOW + 211 = 17,760 SPX + 25 = 2076 NAS + 75 = 4997 10 YR YLD + .11 = 2.41% OIL + .04 = 52.82 GOLD + 3.50 = 1163.80 SILV + .23 = 15.72   For the week, the Dow rose 0.17 percent while the S&P fell 0.01 percent and the Nasdaq ended down 0.23 percent in its third straight weekly decline. The markets were full of sound and fury, signifying nothing, perhaps.   Greece faces a Sunday deadline to reach a deal with its creditors. Yesterday, Greek Prime Minister Alexis Tsipras submitted a proposal that appears to meet most creditor demands in exchange for a new €53 billion-euro bailout. The package of spending cuts, pension savings and tax increases almost mirrors that from creditors on June 26, which was rejected by Greek voters in a July 5 referendum. Eurozone decision makers are set to assess the plan during crisis meetings on Saturday and Sunday. Meanwhile, Tsipras took the proposal to the Greek parliament to see if they will stand behind the deal. Outside, anti-austerity protestors rallied against the deal; which makes sense; last week a strong majority voted against the very type of deal Tsipras is now trying to sell. The Greek blueprint for pension cuts and VAT increases is essentially copied word-for-word from the June 24 European proposal; it does not appear to include debt relief. …

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Financial Review

A Short Week

http://media.blubrry.com/eatthebankers/p/content.blubrry.com/eatthebankers/SINCLAIR_NOE-SEG_1-05-26-2015.mp3Podcast: Play in new window | Download (Duration: 13:15 — 6.1MB)Subscribe: Apple Podcasts | Android | RSSFinancial Review by Sinclair Noe DOW – 190 = 18,041 SPX – 21 = 2104 NAS – 56 = 5032 10 YR YLD – .08 = 2.14% OIL – 1.37 = 58.35 GOLD – 18.10 = 1188.80 SILV – .35 = 16.82   The S&P/Case-Shiller Home price index shows prices for existing homes rose in March. Both the 10- and 20-City Composites increased significantly, reporting 0.8% and 0.9% month-over-month increases, respectively. Both the 10-City and 20-City Composites saw year-over-year increases in March. The 10-City Composite gained 4.7% year-over-year, while the 20-City Composite gained 5.0% year-over-year.  Phoenix saw prices increase 0.6% in March,

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Author Interviews

Erin Arvedlund

http://media.blubrry.com/eatthebankers/p/content.blubrry.com/eatthebankers/ERIN_ARVEDLUND_10-19-2014.mp3Podcast: Play in new window | Download (Duration: 19:50 — 9.1MB)Subscribe: Apple Podcasts | Android | RSSListen to the author interview. Click the banner to buy the book. Open Secret: The Global Banking Conspiracy That Swindled Investors Out of Billions by Erin Arvedlund “Gaming the LIBOR—that is, fixing the price of money—had become just that: a game. Playing it was the price of admission to a club of men who socialized together, skied in Europe courtesy of brokers and expense accounts, and reaped million-dollar bonuses.” In the midst of the financial crisis of 2008, rumors swirled that a sinister scandal was brewing deep in the heart of London. Some suspected that behind closed doors, a group of chummy young bankers had been cheating the system through interest rate machinations. But with most eyes focused on the crisis rippling through Wall Street and the rest of the world, the story remained an “open secret” among competitors. Soon enough, the scandal became public and dozens of bankers and their bosses were caught red-handed. Several major banks and hedge funds were manipulating and misreporting their daily submission of the London Interbank Offered Rate, better known as the LIBOR. As the main interest rate that pulses through the banking community, the LIBOR was supposed to represent the average rate banks charge each other for loans, effectively setting short-term interest rates around the world for trillions of dollars in financial contracts. But the LIBOR wasn’t an average; it was a combination of guesswork and outright …

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