Monday, November 23, 2009

Quick Notes & Articles for the Day - November 23

Existing Home Sales Jump 10.1% - Sales of existing homes increased 10.1% in October to a seasonally adjusted annual rate of 6.10 million, the National Association of Realtors estimated Monday.

ECB President Trichet Agrees with US Call for Stronger Dollar - European Central Bank (ECB) President Jean-Claude Trichet on Monday said a strong U.S. dollar is important for the stability of the world economy, Dow Jones Newswires reported. Asked at a conference in Madrid whether he was concerned about the current level of the euro against the dollar, Trichet said he considers it "extremely important that the U.S. authorities" say a strong dollar is in their own interests, he said. Trichet has often used similar language when asked about the value of the euro.

Dimon Successor to Geithner? - According to the New York Post's sources, several US policy makers consider JPMorgan Chase CEO Jamie Dimon as a potential successor to US Treasury Secretary Timothy Geithner.

Dimon "would love to serve his country," the paper quoted people familiar with his thinking as saying.

Taking Taxpayers for a Ride - By Edward Niedermayer - The New York Times - "General Motors raised more than a few eyebrows last week by announcing plans to repay what it describes as $6.7 billion in outstanding loans to taxpayers. So provocative was this announcement that it all but overshadowed the real news of the day: G.M. had lost $1.2 billion since exiting bankruptcy in July, and its fourth-quarter results were expected to be worse."

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