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Wednesday, April 7, 2010 as of 11:14 AM ET

The Casone Exchange
  • April 20, 2010 03:23 PM UTC by Cheryl Casone

    Best Guess: Goldman and More

    I’m just coming out from under the cover of SEC vs Goldman and before this story takes off in a thousand different directions and angles, many of which will prove to be false, some quick thoughts here.

    First, why would Goldman Sachs go to the trouble to do something illegal, then lose 90 million dollars on the same deal by going long?  Second, why if Goldman is at fault as a firm was only one VP named in the lawsuit.  Third, is there a connection as the WSJ and NY Times have alluded to that there is a reason the SEC voted by political lines in a split decision to file last Friday against Goldman?

    Now to Best Guess, and I am sorry I am playing catch up here.  It’s been much too long since I’ve blogged, but I’ve been focusing on my Twitter page.  That is a long story in of itself I won’t bore you with, but let’s just say I am NO Twitter expert.

    CC

    CLARK WINTER:  The USA is in the midst of an unprecedented transformation … What Google  did to advertising revenue, (harnessing dysfunction spending and converting it into functional revenue) is about to unfold through all sectors of the economy”.  Understanding how they are doing this is important. They are doing it without financial leverage.  They are levering talent.  How to awaken America’s latent is the nations biggest challenge and opportunity now. Not necessarily what is occupying the halls of congress.  Knock knock. What is the difference between common sense and nonsense ?

    CHERYL CASONE:  The President comes to New York and talks to Wall Street this week, but it won’t listen because it won’t be there.  Expect only Administration supporters in the room.

    JIM AWAD: Goldman story adds fire to financial regulatory reform push from the administration. Dems add more bells and whistles.

    TODD SHOENENBERGER: Next Thursday, we receive a critical report on the housing sector–existing home sales. This is big because this is the only sub sector remaining that can take advantage of the home buyer tax credit before it expires.  Wall Street consensus is looking for a March print of 5.30M versus 5.02M.  My guess is this number is going to come in below 5M because would-be home buyers are 1) unable to receive financing, and 2) waiting to see if Congress will extend the credit (which they will not).  The April figure will be better, though.

    ROB MORGAN: stocks continue to rise from here: the selloff early in the year which resulted in the February 4th/5th lows cleared the decks  for the current advance; although stocks have gone straight up since then, the most impressive observation about the market has been the breadth of the advance – a very healthy sign for stocks going forward; March, April, and May are the best seasonal months for stocks – so overweight them!

    DUNSTAN PRIAL: the SEC will try to settle these charges filed this morning for peanuts and before anyone can really get their arms around what’s alleged. But Judge Jed Rakoff, the same judge who sent Bank of America and the SEC back to the drawing board last year, will step in and force Goldman and the SEC handle this case reasonably and responsibly.

pat

with hi taxes on the way employment at 10% why is the stock market going up?

April 20, 2010 at 7:13 pm

about this blog

  • Cheryl Casone joined FOX Business Network (FBN) in September 2007 as an anchor. Prior to FBN, Casone served as a correspondent for FOX News Channel’s (FNC) business unit and was a regular guest on FNC’s Your World with Neil Cavuto. Casone brings years of experience covering finance, business, and consumer news to FBN.

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