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Wall Street Roundup: Good news for government companies. Denver’s derivatives.

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Disappointing job growth. While the national unemployment rate held steady at 9.5%, the private sector added fewer jobs than expected, suggesting little momentum in the bleak labor market.

Returning to California. One of President Obama’s chief economic advisers, Christina Romer, is leaving the White House and returning to the Berkeley after a term marked by feuding with another White House economic brain, Larry Summers.

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Good news for government companies. American International Group announced strong profits and a desire to pay back the government’s investment in the firm, while mortgage giant Fannie Mae also appeared to be weaning itself from government aid.

Denver’s derivatives. Denver’s public schools have ended up in trouble thanks to some complex derivatives that JP Morgan sold the school district right before the financial crisis, the New York Times reports.

-- Nathaniel Popper

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