The environmental impact and effect of a drilling moratorium imposed by the Obama administration following the Gulf oil spill is continuing to be felt in towns like Lafayette, Louisiana.
The National Basketball Association wants to expand the game and are looking at emerging markets such as India and China to push their products.
New details are starting to emerge about Basel III, and the final numbers banks will have to abide by after the rules go into full effect.
According to Reuters (via Felix Salmon):
Felix Salmon has a pretty complete diagnosis of the numbers:
As a result, a healthy bank wanting to pay dividends in a growing economy will need total capital, including Tier 2, of 16%. That’s a reassuringly large number.
The banks are going to scream bloody murder about these numbers, I’m sure, and start waxing apocalyptic about reduced credit availability and lower economic growth and quite possibly plagues of locusts as well.
Notably, these requirements are not going to take effect until 2014. Bank shares moved lower today, though that might be because of the continuing troubles in Europe and the shakeup at Barclays and HSBC.
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To be honest, we’re not sure what EuroPacific’s Michael Pento did during this debate that was so out of the norm for CNBC, where yelling and talking over each other is common… but obviously he touched a nerve with Erin Burnett who yelled at him YOU ARE SO RUDE right at the :37 mark.
Then after he finishes he point, she lectures him some more, prompting the eye-roll seen here.
As for the debate? It was about the US bond market and whether the massive US debt load will turn bonds into toilet paper. We guarantee nobody makes a point you haven’t already heard several times.
Read what Michael Pento thinks about Bernanke: “He’s out of bullets, but not bombs” >>>
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At last, some details on Eliot Spitzer‘s forthcoming primetime show on CNN: It premieres on Oct. 4 and will be called “Parker Spitzer,” putting the name of the co-host with less name recognition (but also less baggage), conservative columnist Kathleen Parker, first.
The show’s got a lot riding on it. CNN needs to boost its ratings at 8 p.m. in a big way. Its former 8 p.m. host, Campbell Brown, left the network in May because not enough people were watching her show. Her interim replacement, Rich Sanchez, hasn’t been doing so hot either.
Will Spitzer turn things around?
Here’s a teaser:
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