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In the wake of Grants in Asia this morning, the CAC 40 on a downward trend during the early exchanges. It lost 0.53% to 3669 points before embarking on his decline of 1%.

Meanwhile the employment figures in the United States, which will be published in early afternoon, the French public deficit rose to a record 138 billion euros in 2009 against 56.3 billion euros last year. As the trade deficit, it was absorbed in 2009 to 43,03 billion euros against 55.14 billion euros. Other important economic indicators are expected in Europe: Industrial output for the month of December and for 2009, Germany, and producer prices in January, Great Britain.

Finally, the finance ministers and central bankers of the G7 meet in Iqaluit, Canada.

The detailed values to follow

An embarrassed government, opposition ulcerated, and now a board of directors of Veolia tense. The case Proglio endless making waves. During the television show "13.15 on Sunday" for France 2, Christine Lagarde, Minister of Economy and Finance announces that Henry will leave Proglio Veolia. "Do not [this combination] lasts forever. He has also admitted before the commission meetings, "she said on France 2.

The Foreign Minister welcomed the abandonment of its allowances at Veolia: "Well, frankly." I hope the controversy will die because he was really cut out. I hope he will be able to devote all his energies to the service of EDF, "pleaded Christine Lagarde.The tenant Bercy has also stressed that the EDF Group is "the one in which Henri Proglio operational functions, so there is no accumulation of operational functions.

The double cap Proglio also sow confusion in Veolia. In an article published Sunday, Le Parisien revealed that heavy atmosphere prevails on the board of directors of the company, formed a few large employers past or present CAC 40 as Daniel Bouton, former chairman of Société Générale, Jean Francois Dehecq, CEO of Sanofi Aventis and Baudouin Prot, CEO of BNP Paribas.

The next Board of Directors of Veolia will be "sports"

Three main reasons. The first: the departure of Henri Proglio at EDF payday loans for bad credit . "When we announced his departure for EDF in September, the surprise was total.Nobody had been taken into confidence "surprised an administrator. Having understood that the CEO of EDF wanted to keep the steering Veolia "to better control the account information 2010 and its reconciliation projects with EDF," said a source quoted by the Journal du Dimanche – they just regret " have been presented with a fait accompli and that everything is played "out of them, between the Elysée and Henri Proglio, according to administrators quoted by Le Parisien.

Another cause of unease: the renunciation of Henri Proglio 450,000 euros for his annual visit to Veolia. Le Parisien tells us that at no time administrators have been informed of this refusal, while standing on the same day a council. "We did not appreciate the news on television tonight.This concealment is not like Henry, "laments one of them, quoted by Le Parisien.

Finally, the proposed merger between EDF and Veolia does not convince the directors who qualify, like Jean-Pierre Jouyet, chairman of the AMF, the "Baroque".

The real malaise in the board of directors told to one of its members that the next board will be "sport".

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With 3.2 billion net profit in the third quarter of 2009, the U.S. investment bank Goldman Sachs has recovered quickly from the crisis. And for good reason. According to a survey published by The New York Times December 23, analysts at Goldman Sachs had anticipated the collapse of the housing bubble in 2006. The officers of the bank had lowered their recommendation on the mortgage market from positive to negative in December 2006, discreetly. In the process, Goldman Sachs has begun to shed its portfolio of CDOs. The whole, continuing to sell such financial products to its customers.

Losses abysmal for some …

Created in 2005 by two traders at Goldman Sachs, Jonathan Egoli (graduate of Princeton) and the French Centrale Fabrice Tourre, CDOs (Collaterized debt obligations) known as Abacus products were stars.At that time the housing market was booming. More than $ 108 billion of CDOs were sold to institutional investors, pension funds and insurance companies in the United States and Europe between 2005 and mid 2007, according to statistics from the company Dealogic.

… Substantial benefits for other

But the end of the housing bubble has left buyers of CDOs on the straw. Goldman Sachs was not the only one to make the right bet. According to Wall Street sources quoted by The New York Times, other banks, including Deutsche Bank and Morgan Stanley, and smaller investment companies as Tricadia also bet on falling subprime.And were able to recover sums from insurers.

Given the extent of suspicion, an investigation was initiated by members of Congress, the SEC (the equivalent of the MFA in France) and the Authority of financial sector regulation (FINRA). To determine if these banks and hedge funds have violated the regulations on the sale of securities they have created and injured their own customers. Suspicions immediately contradicted by Goldman Sachs.

Goldman Sachs denies

In a statement posted on its website, the investment bank responds to the New York Times."Goldman Sachs, like many other financial institutions, has suffered substantial losses in its mortgage portfolio, due to the deteriorating housing market." Losses related to such activity amounted to 1.7 billion dollars 2008.

The bank also noted that buyers were "important and sophisticated investors, who had all the resources internally to analyze and adjust their portfolios. Finally, she denied having withheld information to the public regarding its recommendations on CDOs. While the debate swells on the federal government support to banks, which are expected to announce record profits in 2009, explanations of Goldman Sachs will likely be expected to turn.

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Article by New York Times (English)