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Fatster’s Roundup

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Hello March:

International Developments

? US Secretary of State John Kerry has “pledged an additional $60 million in aid to Syrian opposition forces”.

International  Finance

? “Spain falls further into recession as GDP plunges by 0.8%”.

? “European Union officials have struck a provisional deal on new financial rules, including capping bank bonuses.”  Sorta–the cap “can rise to two years pay if there is explicit approval from shareholders.”

? David Boies and Ted Olson of Bush v Gore Supreme Court fame are again crossing legal swords, this time over Argentina’s bond payment dispute.  Olson is representing Elliott Capital Management which had Argentina’s ship Libertad seized in Ghana.

Money Matters USA

? J.C. Penney’s reported “a startling fourth-quarter loss of $2.51 a share”–quite a bit more than the 24-cents forecast.

? Wal-Mart’s having problems restocking its shelves at the same time that its sales are slowing.

? Kohl’s Corp.’s 4th-quarter net income dropped 17%.

? Rep. Edward Markey (D-MA):  “More than 100 oil and gas producers . . . [have been drilling] “in federal waters without paying . . . any [or just some] royalties”.  They include Chevon (approximately $1.49b), BP, Exxon Mobil, Royal Dutch Shell and ConocoPhillips.

? Occupy Homes MN, Neighborhoods Organizing for Change and others gathered for a 200-person march on Minneapolis’ Wells Fargo Home Mortgage, demanding that a house the community cleaned up for a single mother and her children be donated to the community.

? From a Brandeis University study:  “The wealth gap between white and African-American households almost tripled within the past 25 years”, resulting in a $85,000 – $236,500 disparity during that time (based on 2009 dollars). [cont’d.]

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Dan Wright

Dan Wright

Daniel Wright is a longtime blogger and currently writes for Shadowproof. He lives in New Jersey, by choice.