Bill Gross compares Chinese economy to ‘mystery meat’
Breakfast with Benjamin:The Bond King: China's a big risk. Plus: JPMorgan goes on a settlement binge, finance industry tells investors to stay calm, Obama administration catches a CBO boomerang, and some healthy balance sheets for the New Year.
- Bill Gross calls China one of the biggest risks for global markets. The Bond King compares the slowing Chinese economy to bologna, as in nobody knows what’s in there. ”The last wild card”
- JPMorgan gets the green light to settle two lawsuits tied to the bank’s relationship to Bernie Madoff’s Ponzi scheme. It’s amazing what a half billion dollars can buy these days. Turning a costly blind eye
- In other JPMorgan lawsuit settlement news, the bank also agreed to pay $614 million to the U.S. government for its role in underwriting sub-standard mortgages. From blind eye to black eye
- Global stock market meltdown got you down? Just chill and look on the bright side, says the banking and brokerage industry. Stocks just got less expensive
- The Obama administration learns a hard lesson about relying too heavily on CBO reports. If you like your job, you can keep it. Live by the CBO, die by the CBO
- Just in time for all those New Year’s resolutions, here are seven healthy-living stocks with healthy returns on equity. Green investing
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