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

Friday, September 16, 2011

Europe default risk signal flashing red

Europe default risk signal flashing red
CNNMoney
Outside of the so-called PIIGS (Portugal, Ireland, Italy, Greece and Spain) or peripheral European Union countries, Denmark, Finland and Slovenia have seen the most drastic jumps in the cost of protection. "The costs are skyrocketing. ...
Mortgage default notices jump in August: RealtyTrac
Reuters
NEW YORK (Reuters) - Default notices on US home loans notched their biggest monthly increase in four years in August, suggesting some of the backlog from documentation issues was easing, data showed on Thursday. First-time default notices were filed on ...
Credit card defaults, late payments continue slide
The Associated Press
Default rates were down at four of the six largest credit card issuers, which reported their August results in regulatory filings this week. Citibank and Capital One Financial Corp. had upticks in the rate of write-offs of uncollectible balances. ...
Analysis: Contagion fear from Greek crisis
CNN International
By Zsolt Darvas, Special to CNN (CNN) -- German Vice-Chancellor and Economics Minister Philipp Rösler broke a long period of silence about a possible Greek default by saying that all options are to be considered. Several finance ministries in the ...
Greece Needs Default, Abandon Euro Over Loan, Sulik Says
San Francisco Chronicle
15 (Bloomberg) -- Greece should default on its debt and abandon the euro as further loans won't solve its crisis, a Slovak lawmaker whose vote in parliament may decide whether the country backs a bailout package for the currency area said. ...
Financial crisis panel meets on global markets
MarketWatch
By Alan Zibel WASHINGTON (MarketWatch) -- A US panel that monitors threats to the financial system for risks held a conference call Thursday as central banks moved to stem turmoil in European financial markets, a Treasury Department official said. ...
Financial crisis: central banks do not take this kind of action unless ...
Telegraph.co.uk
The reason? US funds are so freaked out at the goings-on in the eurozone that they're refusing to lend to European banks on fears they won't get their money back.Financial crisis : central banks do not take this kind of action unless something is up.
Financial crisis: spectre of credit crunch returns as banks pump money into ...
Telegraph.co.uk
Such “liquidity-providing operations” were last conducted in 2008 and 2009 at the height of the credit crisis, when banks' reluctance to lend to one another threatened to cripple the financial system. The latest developments came on the third ...
Asian Credit-Default Swaps Gauge Cuts 10 Members From Sept. 20
San Francisco Chronicle
15 (Bloomberg) -- Samsung Electronics Co., the world's second-largest maker of mobile phones, and Genting Bhd are among 10 firms whose credit-default swaps will be cut from a new version of Asia's benchmark bond risk index from Sept. 20. ...
In The Public Interest: Student Loan Defaults Skyrocket, Double in Past 6 Years
Huffington Post
On September 12th, the US Department of Education released the official FY 2009 cohort defaultrates on student loans. The number of students who defaulted within two years of entering repayment increased to 8.8%, up from 4.5% in FY 2003 and 7% in FY ...
Book: Treasury Secretary Tim Geithner ignored Obama directive at height of ...
Washington Post
By AP, NEW YORK — A new book says that at the height of the financial crisis US Treasury Secretary Tim Geithner ignored a directive from President Barack Obama calling for reconstruction of major banks. According to author Ron Suskind, the incident is ...
Canadian Stocks Rise as ECB Offers Loans to Tame Credit Crisis
BusinessWeek
28 as bond yields in the most-heavily indebted European countries have surged on concern Greece may default. The ECB said it will lend dollars to euro-area banks to ensure they have enough of the US currency through the end of the year. ...
Eircom Wins Loan Term Waiver, Averting $5 Billion Default by Irish Company
Bloomberg
By Cecile Gutscher - Thu Sep 15 13:56:51 GMT 2011 ERC Ireland Holdings Ltd., parent of Ireland's largest phone company Eircom, said lenders agreed to overlook debt terms, averting a $5 billion default and paving the way for a debt restructuring. ...
Giant fund manager calls for Greek default
ForexLive (blog)
By Jamie Coleman || September 15, 2011 at 15:33 GMT Blackrock, the largest fund management firm in the world, is calling for an organized default by Greece.Dow Jones carries the headline. Some think today's announcement of a new dollar-liquidity ...
IHS's Behravesh Says Greece to Default Within Euro Zone
Washington Post
Sept. 15 (Bloomberg) -- Nariman Behravesh, chief economist at IHS Global Insight, talks about Greece's future as a member of the euro zone and the outlook for the global economy. He speaks from the sidelines of the World Economic Forum in Dalian, ...
Greece Will Default: Chart of the Week
Motley Fool
Investors worry that multiple countries, led by Greece, will default on their bonds -- billions of which are held by banks around the world. As our chart of the week demonstrates, I believe this hypothetical concern will soon become a reality. ...
Prolonged financial crisis in Europe
If Athens fails to get its sixth tranche of rescue loans at the right time, it will face national default early next month. Speculation is also rife over whether Spain and Italy will ask for rescue loans. The two countries represent 28 percent of the ...
Gold: Opportunities After A Greek Default
Seeking Alpha
My primary thesis for owning gold remains intact, which is global currency debasement and competitive currency devaluation along with the persistent instability associated with financial crisis. The events surrounding Greece should strengthen this ...
Financial Crisis? Welcome to my World, says Philippine Billionaire
Forbes
He told the conference that a Greek default is a matter of “when, not if”, a near-consensus view among conference participants. But for ICTSI this spells opportunity as Greece could become another emerging market, just like the Philippines, ...
Fed's Ben Bernanke Says Research Into Financial Crisis Key to Avoiding Repeat
ABC News (blog)
“The recent financial crisis has spurred a great deal of research on its causes and, more broadly, on the topic of systemic risk and its regulation. This research is of critical importance,” he said in his prepared remarks. “It can inform the design ...
Can a 'Grand Bargain' Solve Current Financial Crisis?
CNBC.com
Three years after the outbreak of the global financial crisis, and despite trillions of dollars of monetary and fiscal stimulus, policymakers and leaders seem to be suggesting they are willing to look at bigger steps to solve global economic imbalances...
Greece default crisis fears subside, Asia markets bullish today
Beacon Equity Research
As fears of a Greece default subside, Asian markets are beginning to rise today. Germany and France have said today that they will support Greece as continues to find a way to relieve its massive debt. The Shanghai Composite Index is currently up 0.05% ...

US Is 'Long Way' From Default Risk, S&P Analyst Tan Says
BusinessWeek
15 (Bloomberg) -- The US is a “long way” from risk of default and Treasuries are still the safest dollar assets, said Kim Eng Tan, senior director for sovereign-debt ratings at Standard & Poor's. “We are still a long way from the US coming down to a ...
A Better Way to Assess Sovereign Debt
U.S. News & World Report (blog)
There was talk about a partial break-up of the European Union, with Greece, which appears to be on the brink of default, exiting. Roubini noted “global and systemic” consequences if this occurs. The financial media, always quick to instill fear in ...
ECB liquidity scheme is precursor for Greek default
The Economic Voice
We are being prepared for a full Greek default. Speaking to Reuters Win Thin of Brown Brothers said “Today's actions won't prevent a Lehman-type event, but they could mitigate the dislocations and market turmoil that will likely result from such an ...
Greek default: Nick Clegg suggest MORE taxpayer bailouts for Greece
Daily Mail
'But on a day like today, when people are talking openly about the possibility of Greek default, the key question is not: how do we seek to renegotiate the UK's place in the European Union in a treaty that hasn't even materialised yet. ...
UBS Default Insurance Costs Rise Amid Trade Loss Warning
Fox Business
By Art Patnaude LONDON -(Dow Jones)- The cost of insuring debt issued by UBS AG (UBS) againstdefault was higher Thursday after an announcement that a trader at the Swiss bank lost as much as $2 billion through unauthorized trades. ...
Let them default. The radical solution to the sovereign debt crisis.
ABC Online
By 2003 she was forecasting the Global Financial Crisis, then the ensuing crisis of government debt, or sovereign debt as it's known, that's now engulfing Europe and she says it's being badly mismanaged. ANN PETTIFOR: Greece is an economy for example ...
EU economy to come to near standstill by year-end due to financial crisis ...
Washington Post
By AP, LONDON — The EU Commission warned Thursday that economic growth in the eurozone will come to a near standstill by the end of the year due to the European debt crisis and the turmoil in financial markets. In its latest economic forecast, ...
Bank of America default filings jump 200% - Mortgage Insider - The ...
By Jeff Collins
Tweet Share Bank of America filed three times as many default notices on Orange County homeowners in August than the month before, helping to push the overall number of defaults...
Mortgage Insider
Greek default fears slam banking sector - Business - Stocks ...
Fears of a Greek debt default and signs of division among Europe's policymakers over how to manage the debt crisis sent bank stocks sharply lower on Monday, ...
www.msnbc.msn.com/.../greek-default-fears-slam-banking-sec...

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