Morning Roundup: Flash Crash Report Could Create New Rules, Or Nothing New

  • Federal Reserve President Dennis Lockhart said people shouldn’t just straight up assume the Fed will do more quantitative easing, because the source of our current economic stagnation is unclear. [Reuters]
  • Goldman Sachs wants to raise $2.05 billion by selling shares of Industrial and Commercial Bank of China. [WSJ]
  • BP is creating a global safety division, and also getting rid of the guy who was in charge of sealing the well in the Gulf of Mexico. CEO Robert Dudley is also planning a “fundamental review” to find out how it can provide incentives for its employees to drill for oil more safely and with less risk. [NYT]
  • Even if the Securities and Exchange Commission comes out with a highly detailed account of the events that led up to the May 6 Flash Crash, it doesn’t necessarily follow that the agency could do anything to prevent something like that from happening again. [MarketWatch]
  • Moody’s is expected to cut its credit rating for Spain by the end of the week. The move would follow warnings from Standard & Poor’s that it may cut Ireland’s credit rating and signals that the sovereign debt crisis in Europe is still pretty important. [Guardian]

 

mtaylor@observer.com

Twitter: @mtaylor