Disclaimer | Read Larry Connors' blog – Short Term Trading Strategies
It was November 1910 when U.S. Sen. Nelson Aldrich, a Republican of Rhode Island, chair of the National Monetary Commission and a business associate of industrialist J.P. Morgan, convened a secret meeting of some of the leading financial minds of the day -- under the illusion of the group taking a 10-day duck hunting trip on Jekyll Island.
The nation had been in a financial crises that had Wall Street brokerage houses collapsing and the U.S. Treasury pumping money into failing banks.
That meeting on what then was a private island owned by some of the nation's wealthiest industrialists developed the concept for what would eventually become the Federal Reserve Bank, which was signed into law by President Woodrow Wilson on Dec. 23, 1913.
The Federal Reserve Bank of Atlanta is holding its three-day 2009 Financial Markets Conference at the Jekyll Island Club Hotel, which was catapulted into history as the nominal founding spot for the Federal Reserve Bank.
Bernanke will address the conference at 7:30 p.m. Monday in the hotels' Grand Dining Room, said Pierce Nelson, a spokesperson for the Federal Reserve Bank of Atlanta.
"The Jekyll Island Club was chosen for the conference because it provided a good venue for the group of policymakers, academics and financial industry practitioners to come together," Nelson said.
The conference, which will draw about 100 people, will discuss what Nelson refers to as the timely topic of "financial innovation and crises."
Just as that initial group of men did in 1910, all but a few of the the conference's attendees will be staying at the Jekyll Island Club Hotel.
Unfortuntely, the group is too large to meet in the Federal Reserve Room of the hotel. Nelson said the conference will be held in other areas of the building, with Bernanke's address being in the Grand Dining Room of the hotel.
Representatives from other branches of the Federal Reserve Bank, universities, think tanks, such as the American Enterprise Institute and organizations, including the International Monetary Fund, will also address the conference.
The Federal Reserve Bank of Atlanta is one of 12 regional federal reserve banks in the United States that, along with the Board of Governors, in Washington, D.C., make up the Federal Reserve System. The Federal Reserve System helps formulate monetary policy, supervise and regulate banks and bank holding companies, and provide payment services to financial institutions and the federal government.
--A slowdown in layoffs may signal that the worst in job losses is over for the economy, 10A
To see more of The Brunswick News or to subscribe to the newspaper, go to http://www.thebrunswicknews.com/. Copyright (c) 2009, The Brunswick News, Ga. Distributed by McClatchy-Tribune Information Services. For reprints, email tmsreprints@permissionsgroup.com, call 800-374-7985 or 847-635-6550, send a fax to 847-635-6968, or write to The Permissions Group Inc., 1247 Milwaukee Ave., Suite 303, Glenview, IL 60025, USA.
More News:
Market Updates |
Stock Alerts |
All Trading News |
Stock Index
About TradingMarkets | Contact | Advertise | Careers | Link to Us | Site Map | Help | Terms & Conditions | Privacy Policy | Return Policy | Testimonials | Feedback
The Connors Group, Inc. ("Company") is not an investment advisory service, nor a registered investment advisor or broker-dealer and does not purport to tell or suggest which securities or currencies customers should buy or sell for themselves. The analysts and employees or affiliates of Company may hold positions in the stocks, currencies or industries discussed here. You understand and acknowledge that there is a very high degree of risk involved in trading securities and/or currencies. The Company, the authors, the publisher, and all affiliates of Company assume no responsibility or liability for your trading and investment results. Factual statements on the Company's website, or in its publications, are made as of the date stated and are subject to change without notice.
It should not be assumed that the methods, techniques, or indicators presented in these products will be profitable or that they will not result in losses. Past results of any individual trader or trading system published by Company are not indicative of future returns by that trader or system, and are not indicative of future returns which be realized by you. In addition, the indicators, strategies, columns, articles and all other features of Company's products (collectively, the "Information") are provided for informational and educational purposes only and should not be construed as investment advice. Examples presented on Company's website are for educational purposes only. Such set-ups are not solicitations of any order to buy or sell. Accordingly, you should not rely solely on the Information in making any investment. Rather, you should use the Information only as a starting point for doing additional independent research in order to allow you to form your own opinion regarding investments. You should always check with your licensed financial advisor and tax advisor to determine the suitability of any investment.
HYPOTHETICAL OR SIMULATED PERFORMANCE RESULTS HAVE CERTAIN INHERENT LIMITATIONS. UNLIKE AN ACTUAL PERFORMANCE RECORD, SIMULATED RESULTS DO NOT REPRESENT ACTUAL TRADING AND MAY NOT BE IMPACTED BY BROKERAGE AND OTHER SLIPPAGE FEES. ALSO, SINCE THE TRADES HAVE NOT ACTUALLY BEEN EXECUTED, THE RESULTS MAY HAVE UNDER- OR OVER-COMPENSATED FOR THE IMPACT, IF ANY, OF CERTAIN MARKET FACTORS, SUCH AS LACK OF LIQUIDITY. SIMULATED TRADING PROGRAMS IN GENERAL ARE ALSO SUBJECT TO THE FACT THAT THEY ARE DESIGNED WITH THE BENEFIT OF HINDSIGHT. NO REPRESENTATION IS BEING MADE THAT ANY ACCOUNT WILL OR IS LIKELY TO ACHIEVE PROFITS OR LOSSES SIMILAR TO THOSE SHOWN.
The Connors Group, Inc.
15260 Ventura Blvd., Ste. 2200
Sherman Oaks, CA 91403
© Copyright 2009 The Connors Group, Inc.
