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Thursday, May 29, 2014

Reuters Money: BlackRock CEO says leveraged ETFs could 'blow up' whole industry

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05/29/2014
Reuters Election 2012 Daily round-up of the day's top news from the campaign trail, the White House and all the politics in between
BlackRock CEO says leveraged ETFs could 'blow up' whole industry
(Reuters) - BlackRock Inc Chief Executive Officer Larry Fink said on Wednesday that leveraged exchange-traded funds contain structural problems that could "blow up" the whole industry one day.
Client dementia vexes financial brokerages, regulators
(Reuters) - U.S. state securities regulators are preparing to advise Wall Street on a vexing problem: what to do about clients who place trades when their mental acuity is declining.
Leverage, complexity and amnesia
(Reuters) - Investors appear to have forgotten two prime lessons of the last crisis: complexity is expensive and leverage is dangerous.
Judge denies Wells Fargo's bid to dismiss L.A. predatory lending suit
(Reuters) - Wells Fargo & Co lost its bid to dismiss a lawsuit filed by the city of Los Angeles, which accuses the bank of predatory lending practices that targeted minority borrowers and led to the loss of property tax revenue.
Economics and politics align for ECB: James Saft
(Reuters) - If there is anything more sobering for a central banker than failing to meet the bank's mandates, as the European Central Bank arguably has, it is having one's very legitimacy challenged.
What would entice you to sign up for a 529 plan?
NEW YORK (Reuters) - For some people, the magic of compound interest alone is enough to sell them on a 529 college savings plan, but others seem to need more incentive.
U.S. Labor Dept delays unveiling of new fiduciary plan to 2015
(Reuters) - The U.S. Department of Labor will, once again, delay plans to unveil a revised proposal for a rule aimed at beefing up standards of conduct for brokers who advise on retirement plans and individual retirement accounts, according to its agenda.
YOUR MONEY-For richer, for poorer: Preventing wedding money fiascos
(Reuters) - By December, Holly Ellis and Brendan Spiegel had nailed down most of the details of their upcoming July wedding by signing a contract that would take care of just about everything - from food to flowers to music.
Long sentence for ex-SAC trader Martoma appropriate: court officials
NEW YORK (Reuters) - A prison sentence approaching 20 years would be an appropriate punishment for Mathew Martoma, a former SAC Capital Advisors LP fund manager convicted of insider trading, U.S. court officials said, prompting his lawyers to object strenuously.
Secretive process for U.S. stock audit trail raises hackles
NEW YORK (Reuters) - The bidding process to build a mammoth system to track trading activity across the U.S. stock market is going through growing pains, with some participants grousing at a secretive process that excludes key groups, including brokerages.
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