Opening Bell: 05.06.10

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SEC Probes Berkshire Disclosures (WSJ)
The Securities and Exchange Commission is examining the disclosures Berkshire Hathaway Inc. made about its $26 billion purchase of Burlington Northern Santa Fe Corp. railroad, said people familiar with the matter. For a number of weeks, the SEC has been looking at how Berkshire informed other Burlington shareholders about its offer to buy the company in late October 2009, these people said.

Greek Violence Threatens to Scare Away Tourists Needed for Saving Economy (Bloomberg)
Who's afraid of a little tear gas?

Geither Says Can't Take All Risks Out Of Banking (Reuters)
"The lesson of this crisis ... is that we cannot make the economy safe by taking functions central to the business of banking, functions necessary to help raise capital for business and help businesses hedge risk, and move them outside banks, and outside the reach of strong regulation," Geithner says.

Voting begins in tight UK election contest (FT)
Britain’s tabloid newspapers were emblazoned with bold headlines this morning. The Daily Express called today’s ballot “D-day”, while the Sun hailed Mr Cameron as “Our Only Hope” in a front page decked out in the style of Barack Obama’s campaign posters.

Swiss Too-Big-to-Fail Banking Rules Seek to Avert Icelandic Ending for UBS (Bloomberg)
“Switzerland has the most severe too-big-to-fail problem after Iceland,” said Urs Birchler, a professor at the Swiss Banking Institute at Zurich University and a former central bank adviser on financial stability. “It has the potential to derail Switzerland as an economy and as a democracy.”

Blankfein’s Bonds Are Riskier Bet Than Pandit’s: Credit Markets (Bloomberg)
“No one’s attacking Citigroup over anything anymore, and everyone’s attacking Goldman Sachs over everything,” said Richard Bove, a banking analyst at Rochdale Securities in Lutz, Florida. “It logically tells you that Citigroup should have a lower spread to Treasury than Goldman Sachs does.”

White Castle unveils burger-scented candle (CNN Money)
The candle's "steam grilled on a bed of onions" scent was created by Nest Fragrances, and the limited-edition candle comes in a ceramic holder designed to mimic White Castle's hamburger packaging, the fast food chain said this week. "When I think of truly superior aromas, I think of the aroma of a freshly grilled White Castle hamburger -- life just doesn't get better than that," Laura Slatkin, founder of Nest Fragrances, said in a prepared statement. "We have captured that exact essence in our White Castle candle!"

Silicon Valley's Segway Polo Team Plots Comeback (MarketWatch)

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