Juggling Dynamite

Senator Elizabeth Warren’s Q&A at the March 7, 2013 Banking Committee hearing entitled “Patterns of Abuse: Assessing Bank Secrecy Act Compliance and Enforcement.” Witnesses were: David Cohen, Under Secretary for Terrorism and Financial Intelligence, United States Department of the Treasury; Thomas Curry, Comptroller, Office of the Comptroller of the Currency; and Jerome H. Powell, Governor, Board of Governors of the Federal Reserve System.
Here is a direct link.

Not sure who took the photos, but some valuable social comment on present habits. (hat tip Robert)

Coffee with friends

A day at the beach

Dinner with friends

Out on an intimate date

A visit to the art gallery

Taking in the sights

See: Stock Market’s Rosy View of Earnings

“Earnings can be volatile, even for the entire market. That is why revenue deserves more attention than it sometimes gets—and it provides scant reassurance.

After falling slightly in the third quarter, the S&P 500’s revenue grew by an estimated 3.7% in the fourth quarter and is expected to grow by just 1% in the first quarter. The implication is that much of recent earnings growth relies on expanding profit margins. Those already are above historical averages, though. The S&P 500’s price multiple of trailing 12-month earnings is nearly 18. That multiple would rise into the low-20s if margins reverted to past form.

Investors seem unconcerned, but they are paying prices today that assume a lot more great quarters.”