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January 15, 2009   |  Last Updated       18:40 ET

Market Currents

  • 6:34 PM NY AG Cuomo subpoenas former GMAC chairman Ezra Merkin and 15 non-profit feeder funds over Madoff connections. Cuomo's entry into the fray is noteworthy: New York law gives him broad subpoena powers and has a very broad definition of fraud. Comment!
  • 6:29 PM Never mind culture clash, Bank of America (BAC) executives are livid after uncovering heavy losses and a "staggeringly weak" balance at Merrill Lynch. Which explains why BofA CEO Ken Lewis turned "purple-faced" with rage over Merrill chief John Thain's hopes for a $10M bonus. Comment!
  • 6:21 PM Bank of America (BAC) moves Q4 earnings report up to tomorrow morning, from next Tuesday. (PR) Comment!
  • 6:15 PM San Fran Fed's Yellen: "Nonresidential construction, surprisingly enough, has continued to show some growth up to this point, but this is not likely to last much longer... Futures contracts for house prices suggest that further declines are likely this year and next." And so on. Here's the speech. Comment!
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Opinion & Analysis

Where Citigroup Went Wrong
by Eric Jackson | about:  C

Citi hasn't been the same since Jamie Dimon, JPMorgan's current CEO, was pushed out a decade ago.

A Jim Rogers Exclusive

BERJAYA Seeking Alpha contributor Grace Cheng picks the legendary commodity indexer's mind on inflation, the U.S. dollar and British pound, as well as the outlook for China.  Click to read more »

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