Wall Street prefers Kasich

In a result at odds with national polls, the latest CNBC Fed survey of economists, fund managers and analysts finds Ohio Gov. John Kasich is viewed as having the best policies for the economy and for Wall Street.

A 42 percent plurality says a Kasich presidency would be best for the U.S. economy, followed by 16 percent choosing Democrat Hillary Clinton and 13 percent picking real estate developer Donald Trump. Not a single respondent chose Clinton’s Democratic rival Bernie Sanders.

Read on.

The federal government has posted hundreds of pages of interviews and research from the government’s official effort to get to the bottom of the financial crisis.

The National Archives Friday made public research documents from the Financial Crisis Inquiry Commission (FCIC), a governmental panel charged with finding who was to blame for the financial collapse of 2008 and 2009.

The newly released documents include a host of interview notes and transcripts with FCIC staff and major players in the world of finance. Among the transcripts released are former Treasury Secretary Hank Paulson, former Federal Reserve Chairman Alan Greenspan and Goldman Sachs chief executive Lloyd Blankfein.

The documents are coming to light now because the country recently passed the five-year anniversary of the FCIC issuing its official report, which came out in January 2011. The Archives noted that Friday’s release was just a sample of the FCIC’s work, which eventually took…

Chancellor Angela Merkel’s government is partly to blame for market mistrust in Deutsche Bank AG because it spearheaded implementation of new liability rules for bondholders in a law passed last year, the lender’s Co-Chief Executive Officers John Cryan and Juergen Fitschen told the Frankfurter Allgemeine Zeitung.

While the government has solved the problem of liability capital, it created other problems that only exist in Germany and that “makes us a special case internationally,” Cryan told the newspaper. Fitschen said “national solo efforts” by the government that aren’t matched elsewhere don’t help.

Litigation issues are another reason why financial markets mistrust Deutsche Bank, with the greatest litigation risks stemming from the U.S., FAZ cited Cryan as saying. Deutsche Bank will also carefully examine its set-up in Russia after transactions with Russian shares raised questions as to how effective the lender’s “systems and controls” are, Cryan said.

Both CEOs see no need…

By Lynn Szymoniak• March 7, 2016

March 7, 2016

The plot thickens..

HSBC is hosed…

HSBC has lost its latest bid to keep some portions ofa potentially explosive report about its anti-money-laundering efforts from being made public.

A Brooklyn federal judge nixed many of the UK bank giant’s requests to black out parts of the 250-page report produced by an outside monitor in the wake of HSBC’s $1.9 billion settlement with the Department of Justice.

Judge John Gleeson — who has already rejected requests from the Justice Department and HSBC to keep the January 2015 report sealed — said many of HSBC’s proposed redactions were “over-inclusive.”

Read on.

Zerohedge:

This is the email that David Little, Chairman and CEO of Houston-based DXP Enterprises sent to his employees to explain why, “due to bank obligations and to continue a positive cash flow profile” the company has to freeze 401(k), why it is cutting pay in some cases as much as 60% and  why many employees are about to lose their jobs in the middle of what is an “oil and gas depression.” It is a disturbing read.

Dear DXPeople,

As you well know, these are very challenging times for everyone in the oil & gas industry and other industrial markets. We are working hard to navigate both the challenges in oil & gas and an industrial recession plus what appears to be continuing softening. Normally, when upstream oil and gas is down the rest of the industrial market is booming, not this time!

This past Friday, we announced…

WASHINGTON — In almost any other election cycle, bankers would be celebrating the fact that a Republican candidate has emerged so far in front of the pack and would quickly fall in line behind him.

But New York real estate mogul Donald Trump’s Super Tuesday victories are cause for concern, not celebration, in the industry. His rhetoric, record and temperament make him a uniquely ill-suited Republican candidate to earn banker support, and those who do back the outspoken businessman are likely to soon regret it. Here’s why:

1. Trump is not committed to regulatory relief, Dodd-Frank repeal — or any other bank priority.

While most of the Republican candidates in the race have avoided discussing Wall Street reform or the financial crisis, almost every one at some point endorsed a repeal of the Dodd-Frank Act and pledged regulatory relief for community banks. (Sen. Marco Rubio, R-Fla., was the first…