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Opening Bell: 08.03.09

HSBC And Barclays Report Profits (NYT)
HSBC's number's sagged pathetically in the first half of the year, showing a net of $3.3B compared to $7.7B from last year. Barclays fared somewhat better (though, notably, they've sold off nearly everything they own) having returned $3.5B over the first half.

Fed Plays Crucial "Phase 2" Role In Money Making On Wall
There's concern over whether the Fed is being made to buy securities at an inflated price, and whether or not some firms are capitalizing on the inefficiencies of the Government and intervention in general. The answer is obviously no; I mean it would be ridiculous for anyone to seek to profit off the Fed (or the US Government in general) and their lackadaisical approach to finance.
Roubini Has Commodity Prices Rising In 2010 (Bloomberg)
Looking to make the most obvious call possible Roubini has decided to jump on the "inflation for 2010" bandwagon. Be careful, little ones, the chief prognosticator has it that commodities could see a bump in days to come.
Citadel Moving To Become A Market Maker (WSJ)
Griffen & Co is looking to become a primary dealer in some EU government bonds, which would make theirs the first fund to do so.

Catholic Church Invests In Sin
The Catholic Church, still reeling from having its ass handed to it by a certain dealbreaker editor, has apparently been heavily invested in some of our favorite nouns: firearms, birth control, and tobacco.
UBS Not Fined In US Tax Settlement (Reuters)
UBS is releasing the data but keeping their cash in an exchange that will surely strengthen US ties internationally, and force evil evaders out into the light of public.
Goldman Suffering From Waning Reputation (FT)
""Goldman Sachs still has that Gordon Gekko look to it among the general public," said Anne Rivers, who oversaw the survey, referring to the villain of the 1987 film Wall Street."