"If you're going to panic, do it fast and beat the crowd." ~ Jesse Livermore

Friday, August 26, 2011

Growth Outlook Weakened Amid Contagion Exposure


BOE's Weale Says Britain's Growth Outlook Weakened Amid Contagion Exposure
Bloomberg
“We are exposed to financial contagion from both the euro area and the US,” Weale said. “It is a cause for concern that there was very little growth in the euro area in the second quarter and that leading indicators do not point to a revival. ...
Franc Reverses Gain Versus Dollar as Buffett Buys Bank of America Shares
Bloomberg
By Anchalee Worrachate - Thu Aug 25 15:23:41 GMT 2011 Switzerland's franc weakened against thedollar, reversing gains, after Berkshire Hathaway agreed to invest in Bank of America Corp, reducing concern that another financial crisis may have been ...
MONEY MARKETS-Bank funding costs rise, BofA rally peters out
Reuters
Traders remain spooked that banks will be further pressured by a weakening economy andcontagion from Europe. The cost to buy debt insurance on Bank of America in the credit defaultswap markets tumbled though they remain at elevated levels and almost ...
CANADA FX DEBT-C$ shoots to one-week high on Buffett news
Reuters
N) during the financial crisis. Investors immediately sent the euro rallying from its New York session low against the greenback, and other riskier currencies, including the Canadian dollar, were swept higher. For more see [ID:nN1E77O0ET] [FRX/] A ...
Sarkozy in Beijing to discuss global financial crisis
Press TV
The EU is China's biggest export market and about a quarter of its 3 trillion dollars of foreign currency reserves are held in Euro assets. It has much to lose if the situation keeps getting worse. As with the American crisis, its response to the ...
Goldman Faces Myriad Legal Challenges
Advanced Trading
Conventional wisdom has long held that Goldman Sachs might escape further large fines or criminal charges for its role in the 2007-09 financial crisis after reaching a $550 million settlement with securities regulators in July 2010. ...
Pound Drops Against Euro as Consumer Confidence Fall Fans Recovery Concern
Bloomberg
Sterling declined to a two-week low versus the euro after Bank of England Policy maker Martin Weale said he abandoned his call for an interest-rate increase this month due to the risk ofcontagion from the US and Europe. ...
Forex US Review – Dollar hits two week high against yen
Trading Point
... shore up the company in the same way as Buffett helped prop up Goldman Sachs during the financial crisis of 2008. However, the spur in demand for risk soon petered out and investors got out of risk (the Canadian dollar) and back to the greenback. ...
Euro Unity Was Always An Illusion
istockAnalyst.com (press release)
Europe's problems first became evident in the so-called "PIIGS" nations: Portugal, Italy, Ireland, Greece, and Spain. Now the whole continent is in trouble. The "economic unity" that made politicians so proud was always an illusion. The euro common ...
[Viewpoint] China's new currency policy
JoongAng Daily
China's government may be about to let the renminbi-dollar exchange rate rise more rapidly in the coming months than it did during the past year. The exchange rate was actually frozen during thefinancial crisis, but has been allowed to increase since ...
Finland sticks to demand for collateral
Helsingin Sanomat
... out of its financial crisis. “The government's starting point is that Finland will participate in the next loan programme for Greece only if we get collateral that covers Finland's risks. This policy line is quite consistent and all euro countries ...
Charlemagne
The Economist
BLISS is it in a financial crisis to be a socialist. Or so it ought to be. In speculators and ratings agencies, Europe's left has a ready cast of villains and rogues. In simmering social discontent, it has an energising force. ...
Buffett's Big Bet Comes at a Hefty Price for Bank of America
Fox Business
The Bank of America deal is similar to a $5 billion investment Berkshire made in Goldman in September 2008, at the height of the financial crisis. Goldman paid a rich 10% dividend, or interest, on those preferreds to Berkshire. ...
Hedge Funds Sold Stocks Quickly During Financial Crisis While Others Suffered ...
Newsroom America
By Newsroom America Staff at 2:35 pm Eastern (Newsroom America) -- A new study of stock trading during the financial crisis of 2007 to 2009 found that hedge funds sold their stocks much more aggressively than mutual funds at the first signs of poor ...
Factbox: Goldman faces myriad legal challenges
Reuters
N) might escape further large fines or criminal charges for its role in the 2007-2009 financial crisisafter reaching a $550 million settlement with securities regulators in July 2010. But news that Goldman Chief Executive Lloyd Blankfein and other ...
Bank of America: Could it fail and start another financial crisis?
Slate Magazine
The cost of insuring against BofA's default has gone through the roof. And investors are selling off BofA shares into a cratering market. In the other corner sits a pool of analysts who believe that Bank of America remains stable, if weak. ...
The currency war hots up
Khaleej Times
Without the euro, the global financial crisis would surely have led to a currency war among the European countries with disastrous results for the global economy. Some people flirt with the idea of Germany leaving the euro, standing alone as a knight ...
Six lessons Japan can teach the West
TIME (blog)
My answer then was no – mainly because of the strength of the US corporate sector, something missing from Japan after its 1990s financial crisis. But as the US continues to drift, it will become harder and harder to avoid a Japanese fate. ...
Mexico's economy
The Economist
The financial crisis of 2008 began on the trading floors of Manhattan, but the biggest tremors were felt in the desert south of the Rio Grande. Mexico suffered the steepest recession of any country in the Americas, bar a couple of Caribbean tiddlers. ...
Ostrich, Unbury Thy Head! (or, another good reason for long-term thinking in ...
Big Think
In the aftermath of one financial crisis and on the possible brink of another, there's a lot of finger pointing going on. But the crosshairs of hindsight seem most consistently to land on one target: the short-term thinking that dominates business ...
African Markets - Factors to watch on Aug 25
Reuters
GLOBAL MARKETS Gold sold off in the biggest one-day percentage drop since December 2008, during the financial crisis, while the dollar rose on Wednesday on bets a speech by Fed Chairman Ben Bernanke later this week will not reveal any major initiatives ...
Eurobonds or Political Union are Not the Solution
Wall Street Pit
There will be no PIIGS bonds out there, only Euro bonds. This is a possible story and if indeed speculation is the only source of all of Europe problems, this might work. There are, of course, other solutions to the problem: a guarantee by the German ...
USD/JPY rebounds off from the historic low
FXstreet.com
The outcome of the meeting was unable to prevent further contagion on the EMU government bond markets. On the contrary, Italy came also in the fire line. In theory, this should have been a negative factor for the euro. However, markets still saw a ...
Wonkbook: Is the government getting ready to refinance your mortgage?
Washington Post (blog)
(Joshua Lott - BLOOMBERG) The central unfairness of the financial crisis is that the banks that carried bad debts got bailed out, the homeowners who carried bad debts were left to languish. Three years later, the banks are mostly doing alright -- well, ...
Bank Commercial Paper Maturities Fall as European Funding Concern Rises
Bloomberg
... Europe's fiscal crisis worsens and risk aversion spreads to the US Financial institutions' inability to fund their short-term operations through the commercial paper market during the credit crisis of 2008 induced the Fed to offer support programs, ...
CORRECT: Raiffeisen Mulls Capital Increase In Next 12 Months
Wall Street Journal
Stepic didn't exclude the possibility of repaying the capital Raiffeisen received from the Austrian government during the financial crisis with the funds from a capital increase. "It is one of the possible options, or partial options," he said, ...
Fed Says Credit Quality Of Loan Obligations Rises
NASDAQ
But the Fed said the percentage of criticized assets remained high compared to levels before thefinancial crisis. The Fed, the Federal Deposit Insurance Corp., and the Office of the Comptroller of the Currency released the findings in the annual ...
Stocks' wild ride
Boston Globe
These swings, known as volatility, are at their highest level since fall 2008, when the financial crisis spurred months of frenzied trading that eventually drove the Dow Jones industrial average below 7000 - a loss of more than half its value from the ...
International markets roundup
Sydney Morning Herald
The result reflected an improved trading environment as customers recovered from the impact of the global financial crisis. The benchmark NZX-50 index closed up 14.054 points, or 0.427 per cent, at 3301.578.
Fed Bailout Of Wall Street And Foreign Banks Dwarfed TARP
Seeking Alpha
Bloomberg after many years of legal wrangling to force the Federal Reserve to disclose its secretfinancial crisis loans to Wall Street's big banks came out with a breathtaking look at the extent that Morgan Stanley (MS), Goldman Sachs (GS), ...
Ron Paul's America
The Emory Wheel
So how will the Gold Standard US, with the same constraints as the PIIGS, be able to prevent a similar crisis? The Paulites don't say, or really care. They appear to be under the impression that because a shinny metal object doesn't back the Euro...
European Central Bank Said to Be Buying Spanish, Italian Bonds
Bloomberg
8 to halt contagion from the crisis in Greece, Portugal and Ireland from spreading to the two larger countries, whose combined government securities outstanding are double Germany's indebtedness. The purchases are part of its Security Market Program, ...
Tracking Missteps Behind World's Economic Slump
Wall Street Journal (blog)
By DAVID WESSEL Policy makers around the world didn't see the global financial crisis coming. But when it hit, they improvised and steered the economy away from the abyss. If they hadn't, things would have been worse. It's now becoming clear that ...
Charles Schwab Sues Banks Over Rate Manipulation
New York Times
The firm also alleges that by falsely depressing their borrowing costs, the banks “provided a false or misleading impression of their financial strength to investors” during the financial crisis of 2008. Charles Schwab is seeking unspecified ...
Gold Down Further 2% – Chorus of 'Gold Bubble' Callers Such as Roubini Out in ...
Gold Seek
Roubini also contradicted himself somewhat when he suggested in a tweet that gold bullion in a safe vault was a safe haven that would protect from “global financial crisis 2.0.” He tweeted “In inflation tail risk virtual gold (ETF GLD) beats physical ...
Say it Ain't So, Joe
The American Prospect (blog)
On the one hand, this rather neo-liberal writer has been somewhat radicalized by the financial crisis. He had been doing good work in the business section, and it was good to have a relatively liberal writer expert in finance joining the lonely voice ...
uneasy mood ahead of Jackson Hole economic summit
Washington Post
It was here one year ago that Federal Reserve chief Ben S. Bernanke signaled openness to massive bond purchases, here in 2007 that the Fed leaders plotted a response to the budding financial crisisand here in 1990 where the central bankers of the West ...
Romney: Repeal Wall Street Reform
Think Progress
Though Congress enacted the law to provide vital consumer protections and to prevent Wall Street from spurring another financial crisis, Republicans have continually attempted to cripple the law piecemeal, either by attacking the Consumer Financial ...
CF Industries: An Alternative to Jim Cramer's 2 Agriculture Picks
Seeking Alpha
I'm guessing it has to do with his relentless bullishness during the 2008 financial crisis and the viewer hate mail he no doubt received afterwards. There's a time for optimism and a time for caution so thank you Mr. Cramer for recognizing that ...
Hoenig: Slow Growth, But No Recession
Fox Business
he repeated his concerns that "zero interest rate" policy by the Fed could harm the economy in part by creating a credit boom that eventually could lead to new bubbles in housing and other sectors, the kind that triggered the recent financial crisis...
Backlash of credit downgrade
Inquirer.net
When events in Afghanistan and elsewhere in the world pushed the financial crisis out of the headlines, it was business as usual for the credit rating companies. By keeping below the radar and maintaining their lines of communication with the power ...
Euro Unity Was Always an Illusion — Swing Trading Daily
By Ron Rowland
The euro common currency let PIIGS feed off the prosperity of Europe's dominant nations. Bankers in France, Germany, and elsewhere went along because they saw a chance for easy money … and they were right until just recently. ...
Swing Trading Daily
Germany May Want PIIGS Gold as Security for 'Bailouts' – Merkel's ...
From GoldCoreGermany May Want PIIGS Gold as Security for 'Bailouts' – Merkel's Officials ... of theeuro but also from sovereign default and systemic contagion...
www.zerohedge.com/.../germany-may-want-piigs-gold-securit...

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