—Is this the number we have been waiting for? The economy added 290,000 jobs in April. That was better than expected. Yes, the unemployment number went up. But that is to be expected as well. As more employers hire, more people come back into the workforce. Still at 9.9% jobless, we have a long way to go. And CNNMoney reports it will still be a tough summer for teens.
—There is a lot this morning on the market glitch/high-frequency traders that caused the market to plunge yesterday. Here’s what head of the NYSE had to say about it. I agree with Big Picture Barry that the trades made during the mayhem should not be corrected. I know it sounds unfair to the sellers to be forced out of positions as the market plunged. But canceling the trades in unfair to the buyers. And the market needs buyers more than sellers.
— Is Goldman close to settling its case with the SEC? This makes the most legal sense. But reportedly the SEC might ask Blankfein to resign. If that’s the case then I don’t think Blankfein will go for it. But if at today’s shareholder meeting the proposal to split the CEO and Chairman jobs gets a large percentage of the votes, then I think Goldman might offer this to the SEC as well. I could see a deal on that.
—Cash for Caulkers moves ahead in the House. If they get this through, expect a new round of stimulus spending.
—When I saw Elizabeth Warren on Tuesday night at the TIME 100, she said she would be pleased with the current proposed structure of the Consumer Finance Protection Agency, but she was worried about future amendments. Well it looks like the CFPA might stay as is. An amendment to further limit the proposed agency went down in the Senate yesterday.
—Perhaps if we rename it Cash for Realtors it won’t be passed again. Janet Morrisey on Time.com reports on the efforts to keep the stimulus for the housing market flowing.
—-Swampland is pointing its readers to a Brad Delong post explaining why auditing the Fed is not a good idea.
Anything I miss?