President Obama's new climate change plan isn't very good. But then, the president didn't have any good options. The president released his plan this morning and will give a speech about it at Georgetown University at 1:30 PM.
For many Americans, the private equity industry is shrouded in mystery. Mitt Romney's private equity background at Bain Capital was used as a cudgel against him during the 2012 campaign. What public value does private equity add, his opponents asked? A business of buying and selling other businesses? Is that actually good for humanity — or just investors?
Ockham Research submits: London-based publisher of The Financial Times and Penguin Books Pearson PLC (PSO) is reportedly looking into the possibility of selling their 61% stake in Interactive Data Corp (IDC).
By James Kwak
Recently, a lot of the political debate has been about whether private equity—and by extension Mitt Romney—is good or bad. The argument on one side is that private equity firms are vultures who destroy firms to make money; on the other, that private equity is just capitalism at work, creates value, and creates jobs.
ETF Database submits: Most financials have been under the microscope in recent weeks, with poor reports coming out of both Bank of America and Citigroup and Washington pushing through a plan to overhaul the existing regulatory system. These events have caused many investors to wonder about the prospects of growth at big Wall Street banks; some are now looking to other corners of the market in order to provide exposure to financials without considerable downside risk.
Today's top headlines: The Senate takes up financial reform, Hertz gobbles up Dollar-Thrifty to get even bigger, the federal government announces a plan to start selling Citigroup shares, and a California electric battery company heads to Tokyo.
We know the stock market hated what Treasury Secretary Tim Geithner had to say about the new bank bailout plan yesterday. The Dow started tanking as soon as he opened his mouth at his 11 am press conference, and it continued its freefall as Geithner talked about the plan for the remainder of the afternoon.