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

Friday, September 30, 2011

Bloomberg View: A Road Map to a Prepackaged, Orderly Greek Default

Bloomberg View: A Road Map to a Prepackaged, Orderly Greek Default
BusinessWeek
An orderly default would require immediate restructuring of Greece's debts, and possibly those of several other countries. That would have to be accompanied by the three S's: stopping the contagion, saving the euro, and stabilizing the banks—all at ...
Sovereign, Corporate Default Swaps Rise on Recession Concerns
BusinessWeek
29 (Bloomberg) -- Credit-default swaps insuring government and corporate debt rose on concern Europe's deepening debt crisis will trigger a global economic slump. The Markit iTraxx SovX Western Europe Index of swaps on 15 governments increased four ...
Hovnanian Bonds Plunge, Default Risk Soars on Planned Debt Swap
BusinessWeek
29 (Bloomberg) -- Bonds from Hovnanian Enterprises Inc. tumbled and the cost to protect the debt from default soared after the largest homebuilder in New Jersey announced exchange offers for up to $220 million of securities. The company's $797 million ...
One in Five Modified Loans Default Again, U.S. Comptroller Says
San Francisco Chronicle
Default notices sent to delinquent homeowners surged 33 percent in August from the previous month, RealtyTrac Inc. said on Sept. 15. Total loan modifications and alternative payment plans for delinquent borrowers fell to 456397 in the three months ...
FOREX-Euro rises on German vote but contagion risk lingers
Reuters
See [ID:nL5E7KT1F2] "The threat of contagion is still very much alive," said Samarjit Shankar, managing director of global FX strategy at BNY Mellon in Boston. Shankar said his firm's bond flow indicators show peripheral euro zone debt exposure remains ...
Fitch Affirms CapitalSource Commercial Loan Trust 2006-2
MarketWatch (press release)
Upon the occurrence of a default in the portfolio, the payment waterfall directs part or all of the excess interest otherwise available to the equity to pay down the senior-most notes in an amount equal to the aggregate balance of defaulted assets in ...
Default will take everyone down
The Wenatchee World Online
Default and the financial consequences will be severe and lasting. They will besmirch the reputation of the entire region and everything in it, in a place where reputations are tangible — the municipal bond market. The member governments of the PFD ...
Jobless Claims Lift US Sentiment; Euro Zone Default Worries
Ticker Magazine
German people have been against the setting up of such a facility and expanding and several investors are also worried that no amount of loans to the Southern European nations will solve the expanding sovereign default crisis. ...
Trade Finance and the Financial Crisis
Huffington Post (blog)
As the 2008-9 financial crisis spread from its epicenter in the United States to the rest of the world, policy makers found themselves in uncharted waters. The effects of the global contraction were so severe that the world experienced the largest drop ...
Diron Says `Much Bigger' EFSF Needed to Arrest Contagion
Washington Post
Sept. 29 (Bloomberg) -- Marie Diron, a senior economic adviser at Ernst & Young, discusses the European Financial Stability Facility and the euro-zone debt crisis. She speaks with Andrea Catherwood on Bloomberg Television's "Last Word. ...
EU proposes transaction tax in face of financial crisis
Bend Bulletin
By Rebecca Christie / Bloomberg News BRUSSELS — The European Union Wednesday proposed a financial-transactions tax that would take effect in 2014 and raise about $78 billion a year. The plan would set minimum tax rates for financial transactions ...
Two Top Italian Bank Execs Sound Terrified Of EuroCrisis Contagion
Business Insider
Two top Italian banking execs recently spoke about how contagion resulting from a Greek default would devastate their industry. First Federico Ghizzoni, the CEO of UniCredit, Italy's biggest bank, warned that it is important for the 17-nation currency ...
Students default on loans in record numbers
Texas A&M The Battalion
From 2008 to 2009, default rates increased 1.2 percent for public institutions, 0.6 percent for private institutions and 3.4 percent for for-profit schools, with an overall increase of 1.2 percent, according to the release. The overall default rate was ...
The Tale of Two PIIGS, Continued
Seeking Alpha
The likelihood of an Irish default is now significantly lower than it was just two months ago, because Ireland is on the road to salvation thanks to credible austerity measures. Only two PIIGS now stand out as serious candidates for default: Greece ...
Greece faces austerity strike as default looms
China Daily
Facing historic poll lows for his party amid an upsurge in social anger, Papandreou is working hard to allay fears that Greece could default. The next installment of debt aid due under its May, 2010, bailout from the European Union and the ...
Simply Money: Muni bonds still worth look
Cincinnati.com
We said at the time that this simply wasn't going to happen - approximately 30 cities the size of Detroit would have to default in order for this prediction to come true. And even if the threat ofdefault was there, we felt that, after bailing out the ...
SCOREBOARD: German stir
Business Spectator
The passage of the July 21 measures is unlikely to end debate about the costs (enormous) and benefits (none) of a Greek default though. Should European politicians opt to allow Greece todefault (the most expensive option for German and other European ...
Strategic Mortgage Default: Fair or Frivolous?
Complete Growth Investor (blog)
Many financial institutions are now developing tools that analyze which clients are most at risk of going deadbeat, so they can take action before a default actually occurs. One company, Loan Value Group, is getting proactive by offering a financial ...
Student Loan Default: Avoid at All Costs
MainStreet
Government figures lag considerably, with the latest showing an 8.8% default rate for borrowers who were to start repayments in the 2009 fiscal year. That was up from 7% the previous year. With the job market so weak, it's not likely things have ...
Europe Debt Crisis, Greece Default, US Economy
Bloomberg
Sept. 29 (Bloomberg) -- Vincent Truglia, managing director at Granite Springs Asset Management, Douglas Borthwick, managing director and head of FX trading at Faros Trading, and Henley Smith, chief investment officer at Commonwealth Asset Management, ...
Islamic banking: Panacea for global financial crisis
Nigerian Tribune
Islamic banks have not been affected by the mortgage/credit crisis that afflicted the international financial markets and are largely immune against such crisis, thanks to inherent factors within the tenets of Islamic banking. ...
Prodi Says Greece Default Is 'Not Advantage for Anybody'
BusinessWeek
29 (Bloomberg) -- Former European Commission President Romano Prodi said a default by Greece is “not an advantage for anybody” and that public opinion in Germany has changed to support the euro region's rescue fund. Today's vote in Germany's lower ...
Deeper Look At EU Sovereign Debt And Financial Institutions
Seeking Alpha
European banks are the latest casualties of the EU Sovereign debt crisis, reflecting fears that these institutions have too much exposure to sovereign bonds issued by the fiscally weak PIIGS (Portugal, Italy, Ireland, Greece and Spain). ...
A Bullish Number
Wyatt Investment Research
And we heard PIMCO's Mohamed El-Erian say that the world is at the brink of the next financial crisis. Yeah, sounds pretty bad. Throwing around words like "global recession" and "next financial crisis" confirms a lot of investors' worst fears and is ...
NS mayor says south shore golf course in default and seeking investors
CanadianBusiness.com
By The Canadian Press | September 29, 2011 LUNENBURG, NS - A Nova Scotia golf course in operation since 1996 has been issued a notice of default. Osprey Ridge received the notice on Wednesday, stating the course must meet its financial obligations in ...
ATP Says New Gulf of Mexico Oil Wells to Stave Off Default
BusinessWeek
By Joe Carroll Sept. 29 (Bloomberg) -- ATP Oil & Gas, one of the first oil explorers allowed to resume drilling in the US Gulf of Mexico after the Deepwater Horizon disaster, expects to pump enough oil from new wells during the next three years to ...
Buy Morgan Stanley For Meaningful Upside When Eurozone Hysteria Subsides
Seeking Alpha
Management noted on the second quarter conference call that the firm has just $2 billion of netPIIGS exposure, and $5 billion net exposure. The stock market is pricing in a catastrophic hit to Morgan Stanley from a Greek (or other) default that, ...
Italian Bank Execs Worry About Contagion From A Greek Default
By Courtney Comstock
Federico Ghizzoni (left), the CEO of UniCredit calls for swift resolution. the Head of Global Securities at UniCredit, Attila Szalay-Berzeviczy, warns of what will happen otherwise. Image: Photoshop, Chart from Bill Marsh, NYT (Source: Bank for ...
Business Insider
Greek default may lead to second bailout for Portugal: PM - Europe ...
By XinhuaNET.COM
Greek default may lead to second bailout for Portugal: PM Portuguese Prime Minister Pedro Passos Coelho said on Wednesday that if Greece was to default on.
Siam Daily News Online
XE.com - FOREX-Euro rises on German vote but contagion risk lingers
By Wanfeng Zhou. NEW YORK, Sept 29 (Reuters) - The euro rose against the. dollar on Thursday as Germany approved an expansion of the euro. zone rescue fund, but the single currency could be vulnerable. to selling as investors book ...
XE Forex News
Agreement elusive on Greek default — Clearing and Settlement
By RSS Feed
29 (UPI) — Some German officials favor a full-blown Greek debt default, aides said as Germany's Parliament was poised to give more money to the eurozone's bailout fund. Letting Greece defaultwould let it restructure its debt, which would in ...
Clearing and Settlement — Clearing...
Greece Will Still Default | Mr. Cain Thaler
By Mr. Cain Thaler
There was a study Mr. Jubak had quoted, which went into the defaults of sovereign nations such as Argentina in 2002 and Russia in 1998, looking for common conditions that lead to a country to willfully default on their obligations. What this ...
Mr. Cain Thaler
Greece needs to default on its debt and exit the eurozone | Stergios ...
Therefore, the clear, strong nudge is for Greece to default as soon as practicable. Given the future..... Wholesale transfer of money from Germany/France to the PIIGS. ... Contagion moves onto Italy and total brek up of Euro. 3. Chinese save the ...
www.guardian.co.uk/.../sep/.../greece-default-debt-exit-eurozo...
A Greek Default Would Spread Debt Contagion : NPR
European leaders insist they will take all necessary measures to ensure Greece does not default on its debt. A default would throw Greece's economy — and the ...
www.npr.org/.../a-greek-default-would-spread-debt-contagion

Thursday, September 29, 2011

Ernst & Young Says Greek Default Seems Unavoidable; Sees Risk of Recession

E&Y Says Greek Default Seems Unavoidable; Sees Risk of Recession
BusinessWeek
29 (Bloomberg) -- A Greek default is inevitable and there is 35 percent chance of the euro-area economy slipping back into recession, Ernst & Young said. “The euro zone sovereign-debt crisis shows no sign of abating,” E&Y said in an e-mailed report in ...
Portugal PM says country vulnerable if euro zone default
Reuters
LISBON, Sept 28 (Reuters) - Portugal's Prime Minister Pedro Passos Coelho said on Wednesday his country would be vulnerable if any country in the euro zone were to default on its debts. "I don't want any country to default but if this were to happen, ...
Managing a Greek Default
Council on Foreign Relations
Economists say it is no longer a question of if Greece will default, but when--and how. Whether a Greek default is orderly or disorderly will determine the level of contagionto the rest of the eurozone. The debt crisis has generated as much as €300 ...
Euro Is Beyond Rescue in Debt Crisis, Szalay-Berzeviczy Says
Bloomberg
By Andras Gergely - Wed Sep 28 17:13:07 GMT 2011 The euro is “practically dead” and Europe faces a financial earthquake from a Greek default, according to Attila Szalay-Berzeviczy, global head of securities services at Italy's biggest lender UniCredit ...
Massourakis Says Controlled Greek Default a `Pipe Dream'
Washington Post
Sept. 28 (Bloomberg) -- Michael Massourakis, group chief economist at Alpha Bank SA, talks about the Greek debt crisis. He speaks from Athens with Francine Lacqua on Bloomberg Television's "The Pulse." (/Bloomberg) Correction: Clarification: SuperFan ...
Sovereign Debt Turmoil Risks Financial Contagion -ECB's Mersch
Wall Street Journal
Concerns that weak euro-zone governments will default have made banks wary of lending to other banks that hold this sovereign debt. Potential funding shortages at European banks are the ECB's top concern right now and are "the main topic of most of our ...
Lenders Turn Global Favorite in Default Swaps: Australia Credit
BusinessWeek
Corporate spreads have expanded as concerns that Europe won't contain the fiscal crisis that started in Greece spurred rallies in US Treasuries and Australian government debt. The benchmark Australian 10-year yield rose nine basis points, ...
Financial glossary: D-H
BBC News
The current financial crisis has thrown terminology from the business pages onto the front pages of newspapers, with jargon now abounding everywhere from the coffee bar to the back of a taxi. Here is a guide to many of the business terms currently ...
Review: Lewis' 'Boomerang' tracks financial contagion around the world
San Jose Mercury News
The book -- based on articles Lewis wrote for Vanity Fair magazine -- is a companion piece of sorts to "The Big Short: Inside the Doomsday Machine," his bestselling 2010 book about the fiscal crisis. Like that earlier book, its focus is narrow. ...
Talk Of Greek Default Could Become Self-Fulfilling Prophecy
Seeking Alpha
The gravity of the Greek debt situation is underlined by the growing acceptance among policymakers in Europe that default is possible — or in the view of some, inevitable — for Greece, writes Oxford Analytica. Attempts to ring-fence the default ...
Austerity for the long haul
San Francisco Chronicle (blog)
Rising interest rates could cause a huge fiscal crisis given current US debt levels. Debt hobbles growth, she said, and so we can expect at least a decade of economic malaise, not just in the United States but in all the advanced economies.
Sovereign Default: Panic Versus Fundamentals
Wall Street Pit
And if there is default on government debt, it will have an effect on the balance sheets of European financial institutions and this is the source of the recent concerns about the solvency of some of these institutions. Stress tests are designed to ...
Miliband Admits Fiscal Crisis 'Down To Labour'
4RFV
Now, the Labour boss has admitted: "We take responsibility for the financial crisis that took place in 2007-2008. "We along with other governments didn't regulate the banks properly." The opposition leader said he hoped his speech to the party's annual ...
Argentina 2001-02 meltdown ugly example for Greece
Reuters
The lessons of those chaotic months are sobering ones for any government considering worst-case scenarios to cope with financial crisis. As Argentines rushed to open accounts under the names of relatives to skirt limits on bank withdrawals, ...
Sovereign Credit Swap Index Falls in Europe, Reversing Increase
BusinessWeek
28 (Bloomberg) -- The cost of insuring against default on European sovereign debt fell, reversing an earlier increase. The Markit iTraxx SovX Western Europe Index of credit- default swaps on 15 governments dropped four basis points to 332 at 2 pm in ...
TEXT-Fitch: Defaults Up Slightly for US Bank TruPS CDOs
Reuters
Bank TruPS CDO defaults rose 0.28% to 16.5% from 16.2% last month due to the same percentage of August deferrals transitioning to default. 'The increase in bank TruPS CDO defaults was driven by previously deferring banks,' said Director Johann Juan. ...
Mosler: Why Greece should not be allowed to default
Credit Writedowns
Moreover, the ECB's holding Mosler bonds will shift the default option from the issuer to the ECB, as in the case of non-payment, the ECB would have the option to make its holdings available for sale to tax payers of that nation to offset their taxes. ...
Ask the experts: Eurozone crisis
BBC News
By Laurence Knight & Ian Pollock Business reporters, BBC News Last month, the BBC asked viewers what questions they had about their finances, particularly given fears about a renewed financial crisis and recession. Here, BBC journalists Laurence Knight ...
TEXT-Fitch affirms Luxembourg at 'AAA'
Reuters
Buoyant growth since Q409 means that GDP exceeded the peak before the financial crisis of 2008 by end-2010. Fitch expects even higher growth in 2011 of 3.8%, mainly due to strong base effects from Q410. However, beyond 2011 Fitch forecasts a gradual ...
EU faces 'biggest financial crisis'
East Coast Radio
By Sky News The president of the European Commission is warning the European Union faces the biggest financial crisis in its history. Jose Manuel Barroso's comments come as there has been widespread criticism that leaders are acting too slowly in ...
Anatomy of a Credit Contagion
Money Morning Australia
It has the ability to trigger a credit crisis on par with that experienced in 2008. I'll explain why in a moment. But first, let's look at the parallels to Austria in 1931. Here's what I wrote last year: 'It is worth remembering that upheavals in ...
Swaps Clearing Revenue Could Match Energy Rise, Analyst Says
BusinessWeek
She said by 2016 the legislation could increase clearing revenue for interest-rate, credit- default, foreign exchange, equity and commodity OTC products by $830 million to $1.2 billion. “The opportunity is real, it just keeps getting pushed back. ...
'Possible Greek default will not have direct impact on Turkey'
Today's Zaman
According to analysts at the Foreign Economic Relations Board (DEİK), the possibledefault in Greece will not have any significant effect on the trade volume between Greece and Turkey. In fact, recent numbers announced by the Turkish Statistics ...
Are Derivative-Based ETFs Sowing The Seeds Of The Next Financial Crisis?
Seeking Alpha
What is an ETF? Traditionally, exchange traded funds have been like 'index tracker funds', replicating the performance of a particular market or index. They are traded like shares on a stock exchange and can be bought and sold throughout the day. ...
Trade Finance and the Financial Crisis | Building Capacity through ...
By Otaviano Canuto
As the 2008-9 financial crisis spread from its epicenter in the United States to the rest of the world, policy makers found themselves in uncharted waters. The effects of the global contraction were so severe that the world experienced the largest ...
blogs.worldbank.org - Our conversatio...
Flying PIIGS by Gary North
The Greek government is going to default on its interest payments to the bonehead European bankers and investors who thought that getting high interest rates on Greek debt was a great way to avoid suffering the low-interest rates on German ...
LewRockwell.com
Massourakis Says Controlled Greek Default a `Pipe Dream' - YouTube
By Bloomberg
Sept. 28 (Bloomberg) -- Michael Massourakis, group chief economist at Alpha Bank SA, talks about the Greek debt crisis. He speaks from Athens with Francine L...
Uploads by Bloomberg
Bloomberg: Government Should Make Healthy Choices The “Default
By Rob Port
Bloomberg: Government Should Make Healthy Choices The “Default Option” For Americans. Rob Port • September 28, 2011. Tweet. This is how it starts. They say they're just making the right choices the easiest ones to make. But then, they ...
Say Anything
TDIMG Inside Edition – 9/28/2011: Lipstick on The PIIGS : The ...
By The Disciplined Investor (The Disciplined Investor)
Greek lawmakers voted today on a property tax that is key to convincing the the EU and IMF to release an aid installment and avert default of Greece. This is simply a ploy to cook the books in a way that shows there will be money available to ...
The Disciplined Investor
Financial crisis: the “broker” of the BBC assured that Goldman Sachs ...
By Stock Market Today
Financial crisis: the “broker” of the BBC assured that Goldman Sachs' head of the world. Posted on September 28, 2011 by Stock Market Today. The man presented as a broker by the BBC and that created a buzz on the internet by confessing ...
Stock Market Today News - Market Watch
TDIMG Inside Edition – 9/28/2011: Lipstick on The PIIGS - Wall ...
TDIMG Inside Edition – 9/28/2011: Lipstick on The PIIGS. Share. From: The Disciplined Investor. 10:32am - September 28, 2011. During the month of September, we are going to be adding a special section to this site. The TDI Managed ...
eWallstreeter
Greece would probably benefit from devaluation and default ...
By Shaun Richards
The second is one of logic. When the financial crisis began European politicians were very critical of what they called Anglo-Saxon financial engineering such as securitisations and collaterised debt obligations. As this as a minimum would be ...
Mindful Money
Labour must never again be captive to bankers « Debtonation: The ...
By Georgia Lee
“I have just returned from a lecture tour of Australia where I came across the story of the Sydney Diocese and what the Aussies call the GFC – the Global Financial Crisis. The Sydney Diocese, far from chasing the money-lenders from the ...
Debtonation: The Global Financial Crisis
MOSLER BONDS FOR THE ECB AND WHY GREECE SHOULDN'T ...
By Warren Mosler
The ECB holding Mosler bonds will shift the default option from the issuer to the ECB, as in the case of non-payment, the ECB would have the option to make its holdings available for sale to taxpayers of that nation to offset their taxes.
PRAGMATIC CAPITALISM
Euro Zone Debt Crisis: PIIGS Becoming IGS? Portugal, Ireland Look ...
For most of the summer, markets seemed to pick a different European country as their focus of their angst almost every day.
www.cnbc.com/.../PIIGS_Becoming_IGS_Portugal_Ireland_L...
Bronte Capital: Models for a Greek Sovereign Default
If you had a debt in US Dollars in Argentina prior to the default you were forced to pay it .... It might placate the PIIGS public for long enough to slip some of the ...
brontecapital.blogspot.com/.../models-for-greek-sovereign-def...
Prison Planet.com » Can Countries Default On Their Debts?
So while America may not technically default, it may default in practice, by printing so many ...How did Greece, Iceland and other countries get to the point of default? ... you have to prepare yourself and your family for the financial crisis ahead. ...
www.prisonplanet.com/can-countries-default-on-their-debts.ht...

Wednesday, September 28, 2011

Euro-zone sovereign debt crisis and the prospects for a Greek default

Default Swaps on US Companies Fall as Greece Aid Progresses
Bloomberg
27 (Bloomberg) -- Mohamed El-Erian, chief executive officer and co-chief investment officer at Pacific Investment Management Co., discusses the euro-zone sovereign debt crisis and the prospects for a Greek default. El-Erian speaks with Betty Liu on ...
Greece must default
CNN (blog)
The only way out is for Greece to default on its sovereign debt. When it does, it must write down the principal value of that debt by at least 50%. The current plan to reduce the present value of privately held bonds by 20% is just a first small step ...
Banks May Hold Credit-Default Swap Risks for Weeks, Fed Says
BusinessWeek
27 (Bloomberg) -- Credit-default swap dealers often hold onto risk from big trades for longer than many investors thought, which may complicate efforts by regulators to impose new reporting rules in the $28.4 trillion market, according to a Federal ...
Brazil's Mantega doesn't expect Greek default
MarketWatch
By Tom Murphy SAO PAULO -(MarketWatch)- Brazil's government doesn't expect a Greek sovereign debt default, Finance Minister Guido Mantega said Tuesday, denying a newspaper report that jittery Brazilian officials are preparing for a debt moratorium by ...
Immigration, Financial Crisis Cast Doubt on Border-Free Europe
Voice of America
September 27, 2011 Immigration, Financial Crisis Cast Doubt on Border-Free Europe Lisa Bryant | Paris As Europe scrambles to contain the financial crisis in the eurozone, another effort to deepen European unity is also being challenged, the Schengen ...
7 Things You Didn?t Know About Sovereign Debt Defaults
San Francisco Chronicle
Investors have renewed their obsessing over the risk of sovereign default, as fear creeps back into the market that contagion will lead to a replay of the financial crisis and the return of a recession. While sovereign debt defaults are frightening, ...
Most Greeks want to stay in euro, see default risk
Reuters
ATHENS (Reuters) - More than three quarters of Greeks say the country should stay in the euro zone, but a small majority sees risks that Athens could default on its debt in the next couple of months, a GPO poll for Mega TV showed on Monday. ...
Can bankrupt Greece take lessons from Argentinian default?
FRANCE 24
In late 2001, faced with an astronomical public debt, Argentina announced that it would default. Standing at a similar crossroads, can Athens follow in the footsteps of Buenos Aires? By Sébastian SEIBT (text) In December 2001, Argentina announced that ...
NZ stocks rise as Greek default fears dim
Stuff.co.nz
New Zealand stocks rose, taking their lead from global equities which rallied after Greek lawmakers approved a property tax and soothed fears the heavily indebted country is heading for a disorderlydefault. PGG Wrightson rose and Nuplex Industries ...
European Sovereign Default Insurance Costs Drop
Wall Street Journal
At around 0855 GMT, the five-year credit default swap spread on Italy was 28 basis points tighter at 475 basis points, according to Markit. This means it now costs an average of $475000 a year to insure $10 million of debt issued by the country. ...
Jefferies's Owen Says Greece Default Is 'Very Likely'
Washington Post
Sept. 27 (Bloomberg) -- David Owen, chief European economist at Jefferies International Ltd., talks about the Greek debt crisis. He speaks with Andrea Catherwood on Bloomberg Television's "Last Word." (/Bloomberg) Correction: Clarification: SuperFan ...
Corporate Bond Risk Falls in Europe, Credit-Default Swaps Show
Bloomberg
By Abigail Moses - Tue Sep 27 14:15:08 GMT 2011 The cost of insuring against default on European financial debt fell for a third day amid speculation policy makers will step up efforts to contain the region's deficit crisis. The Markit iTraxx Financial ...
Financial crisis: Three years later, the encore
Economic Times
Even without a default in sight, Europe has seen its bourses fall to well below the level when Lehman went under: the Italian market by 48%, the French 35%, the Swiss 27% and Germany 17%. Other markets have also slipped below pre-Lehman levels: US S&P ...
FTSE soars 4% on hopes Greece dodges default
Citywire.co.uk
by Caelainn Barr on Sep 27, 2011 at 17:16 Britain's FTSE 100 and other global stock markets jumped on Tuesday, as miners and commodity prices rallied on hopes of decisive action from the eurozone to stave off an imminent default by Greece. ...
Tips for a Financial Crisis
WABI
Finance may be fun, but sometimes life can be unexpected or just really hard. If you face a major illness your family could face some serious financial problems. Here are a few ideas that may help in this crisis. Plan- some financial institutions refer ...
Reinhart: U.S., Europe debt woes to persist
MarketWatch
In a new book called “A Decade of Debt,” Reinhart examines what she calls an unprecedented buildup in private and public borrowing, mainly in the US and Europe, that led up to a financial crisis in 2007. She said it could take years to reduce the debt, ...
Financial crisis in Europe and America
euronews
Obama also said that Europe never really fully recovered from the financial crisis in 2007. “So they're going through a financial crisis that is scaring the world and they're trying to take responsible actions, but those actions haven't been quite as ...
Danish Krone Demand Shows Markets Prize Low Debt Over Liquidity
Bloomberg
By Christian Wienberg - Tue Sep 27 12:44:58 GMT 2011 Investors are turning to Denmark's currency market even as the country's twin banking and housing crises send credit default swaps higher. Investors are turning to Denmark's currency market even as ...
Let Greece default and live
The Japan Times
One is a default by Greece. That could happen any day now. Indeed, it SHOULD happen soon. The second is a collapse of the euro, triggered by a Greek default. That would plunge Europe back into recession, and cause chaos in the world's financial markets ...
ECB's Bini-don't underestimate impact of Greek default
Reuters
FRANKFURT, Sept 27 (Reuters) - A default for Greece would set a new precedent for a modern advanced economy and would have an impact on countries across the board, European Central Bank executive board member Lorenzo Bini Smaghi said in an interview ...
Hamish McRae: Europe can still have a prosperous future
The Independent
It must be odds-on that the plan now sketched in outline to allow Greece to default but keep the eurozone intact will be hammered out in the next six weeks. It is not certain and we will come to the consequences of that in a moment. ...
Carlyle's Sarkozy: The Financial Crisis of 2008 Never Ended
Citybizlist (press release)
The financial crisis never ended, said P. Olivier Sarkozy, the Carlyle Group's head of global financial services partners group. Sarkozy, who spoke today at Bloomberg's Dealmaker Summit, told me on the sidelines that the financial downturn of 2008-2009...
BANK WATCH Contagion: Less Chance of Bank Pandemic Equals Bad News for 3 Banks
CoStar Group
Moody's said it continues to see the probability of support for highly interconnected, systemically important institutions as very high, although that probability is lower than it was during the financial crisis. During the crisis, the risk of ...
Daniels to hopefuls: Be a GOP candidate, not the 'default option'
CNN (blog)
Daniels is not terribly impressed with his own party's outlook on what can be done to salvage thefiscal crisis, saying, "Folks on both sides don't think we have the capacity to make drastic changes to reform...Neither side is giving Americans enough ...
Change Default Browser, Quickly Switch The Default System Browser
Ghacks Technology News
One web browser is always the default system browser on a computer system. That's the program that is launched when you click on links for example. The majority of computer users on Windows come into contact with multiple browsers. ...
Fitch Affirms Northampton Generating Company's (PA) Senior Bonds at 'C'
MarketWatch (press release)
The reserve is nearly exhausted and Fitch believes a debt payment default is likely within the next six months. --Reduced revenues: The power purchase agreement (PPA) provides inadequate profit margin and constrains the project from selling excess ...
For-profit colleges influence rising loan default rates for graduates
Temple News
As the cost of tuition rises with the rate of inflation, the default rate for students across the country between October 2008 and September 2009 has swelled by almost 2 percent from the previous year, to 8.8 percent–the highest in 12 years, ...
Greece: will get loans in time to avoid default — Clearing and ...
By RSS Feed
BERLIN (AP) — Greece will receive its next batch of bailout loans in time to avoid a disastrousdefault, the finance minister said Tuesday, as stock markets rallied on hopes that the prime minister will discuss new ways of solving the crisis with ...
Clearing and Settlement — Clearing...
Eurozone's Looming Financial Crisis - WNYC
By Philip Reeves
For a long time, much of the world saw the eurozone sovereign debt crisis as Europe's problem. Now world leaders, ...
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Greece will avoid default - Financial Post
The Greek parliament is expected to approve a deeply unpopular property tax on Tuesday to lure international lending inspectors back to Athens and release vital aid, even as demonstrators stepped up protests against more austerity.
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