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

Thursday, September 8, 2011

Germany's PIIGS Role: Q&A With Gary Becker

Germany's PIIGS Role: Q&A With Gary Becker
TheStreet.com
We interview Gary Becker, Nobel Prize-winning economist at the University of Chicago, to understand some of the political and economic implications of the European financial crisis. Q1: What is your opinion on the loans made by German banks to the ...
Financial Crisis Feels Like Great Depression to Gen Y
Financial-Planning.com
By Lee Barney, Money Management Executive The dotcom crash and the Great Recession have taken a serious and lasting toll on the risk appetites of Generation Y, according to the latest MFS Investing Sentiment Survey. This generation, between the ages of ...
EU Centered Credit Crisis Continues
Seeking Alpha
The 2011 Credit Crisis continued Tuesday with the Stoxx Europe 6000 index hitting a two-year low, the Swiss taking desperate measures to control the franc, more record high prices for credit default swaps (bond insurance) on British Banks and yields on ...
Financial crisis in the US and the eurozone
MSN Philippines News
- 21: Eurozone leaders agree on a new bailout of Greece totalling 159 billion euros ($223 billion), involving for the first time private bondholders such as banks. Greece's debt comes to some 350 billion euros, more than 150 percent of GDP. ...
Jeld-Wen faces default deadline
Bizjournals.com
As it tries to sell $575 million in bonds, troubled Klamath Falls-based window and door manufacturer Jeld-Wen Inc. is also facing a tight deadline to avoid defaulting on a half-billion dollars in bank loans. According to The Oregonian, an analysis by ...
Obama and Romney mostly agree on taxes
Washington Post (blog)
Morgan Stanley says the question isn't whether governments will default. It's how they will default. The IMF says there's no reason any governments should default, and makes an interesting point on the difference between primary-deficit problems and ...
Fitch Downgrades Springleaf Finance's IDR to 'CCC'; Rating Watch Removed
MarketWatch (press release)
Barring an increase in funding alternatives, Fitch believes that ownership may seek to engage in a restructuring of the firm's capital structure, which could lead to a restricteddefault on the IDR and all classes of debt, if Fitch believes there is a ...
Report Says Death of Euro Will Lead to Doomsday
The New American
The report reads: Were a stronger country such as Germany to leave the Euro, the consequences would include corporate default, recapitalization of the banking system and collapse of international trade. If Germany were to leave, we believe the cost to ...
Saab files for voluntary reorganization amid financial crisis
allvoices
By wendyzachary Swedish carmaker Saab has forecasted a substantial loss for the year due to its funding crisis since April and has decided to seek bankruptcy protection for a second time. The bankruptcy protection would entail a voluntary ...
Goodrich 5-year Credit Default Swap falls 0.09 basis points, ending a two-day ...
Military & Aerospace Electronics
Goodrich 5-year Credit Default Swap (GR.US) fell 0.09 basis points (or 0.1%) to close at 70.22 basis points, ending a two-day streak of rises. A decrease in spread is a bullish signal. The change in insurance premium against default on a 5-year $10 ...
Greek default event question of the day [updated]
FT Alphaville (blog)
Moratorium is one of the standard credit events in Western Europe sovereign CDS contracts after all, and there are a number of cross-default provisions in some Greek bonds. Update: Argh. That was dumb of us, or a case of putting 2 and 2 together and ...
SAP: Financial Crisis So Far Hasn't Hit Wider Economy
Fox Business
XE) Wednesday said the current financial crisis so far hasn't hurt the wider economy. There is no reason to change the company's full-year forecast, SAP Chief Financial Officer Werner Brandt said at an investor event. SAP expects software and ...
County fiscal crisis moves on briskly
Muncie Star Press
By the end of this day, financial reality surely will have sunk into the heads of elected officials of Delaware County. The Delaware County Council on Tuesday started two afternoons of 2012 proposed budget reviews for all county departments. ...
Lloyds Banking Group, RBS: Credit default swaps spike to alarming new high
Economy News
Credit default swaps are the insurance banks such as Lloyds Banking Group and RBS take out against borrowers becoming unable to payback debt. The Telegraph reports: "At yesterday's close, RBS credit default swaps were quoted at 355 basis points, ...
Austerity vs. default
Hargreaves Lansdown
However, it should be remembered that before the euro zone crisis took hold, one developed nation chose default as a response to the global financial crisis - Iceland. Iceland's response to the financial crisis differed from that of most other ...
Turkish Government ignores Armenian property rights lawsuit, court enters default
Times.am
By Times.am at 7 September, 2011, 11:57 am “The Turkish government is now in default after ignoring a lawsuit brought against it and two Turkish banks over reparations for land in southern Turkey seized from Armenians during the Armenian Genocide (Alex...
Malta bond ratings cut on threat of contagion
PublicServiceEurope.com
Malta is vulnerable to economic shocks because of the decline in its output since the 2008 financial crisis, Moody's said in a statement yesterday. It added that an expected improvement in the government's balance sheet had not materialised and debt ...
Markets: Wall Street falls as contagion fears spread
FT Adviser
Financial sector stocks lead downward movement as fears over the affect of potential writedown against eurozone sovereign debt mount. Fears over the likely affect of writedowns against eurozone sovereign debt, which plagued European markets on Monday ...
In Praise of Sovereign Default | Gold News
By Eric J.Fry
But overly indebted entities will default, just as inevitably as flying pigs will hit the pavement. The glide path of Greece's financial condition is obvious. This pig is heading for the pavement, as are all the other PIIGS nations, which is why the ...
Gold News - Gold Market Analysis...
Default Predictors in Retail Credit Scoring: Evidence from Czech ...
Credit to the private sector has risen rapidly in European emerging markets but its risk evaluation has been largely neglected. Using retail-loan banking data from the Czech Republic we construct two credit risk models based on logistic ...
PoliEcon
Grahnlaw: WEF: PIIGS competitiveness rankings
By Grahnlaw
The Global Competitiveness Index 2011-2012 rankings for the so called PIIGS are (out of 142 countries and territories): Portugal 45. Ireland 29. Italy 43. Greece 90. Spain 36. Ralf Grahn. Posted by Grahnlaw at 11:04. Labels: competitiveness ...
Grahnlaw
US Postal Service on 'Brink of Default' | NC Rumors
By Michael Bowman
by Michael Bowman on September 7, 2011. One of America's oldest institutions, the U.S. Postal Service, is teetering on the edge of default and must be radically restructured. That, according to the postmaster general, who spoke on Capitol ...
NC Rumors
CRASH 2 EXCLUSIVE: WHY MERKEL WILL IGNORE GREEK ...
By John Ward
Trichet, Lagarde know that eurobank capital adequacy not enough to survive Greekdefault. The next 'Troika' review of Greek progress is due to take place this coming Sunday – the 10th anniversary of 9/11. This will show that the Athens ...
The Slog
The PIIGS Fleecing Of Europe Continues Even As Italy Promises To ...
The PIIGS Fleecing Of Europe Continues Even As Italy Promises To Implement Another "Austerity" Package Imminently. Share. From: Zero Hedge. 10:31am - September 7, 2011. The first Italian austerity package has not even properly failed ...
eWallstreeter
TDIMG Inside Edition – 9/7/2011: Sharks Circling Greece (Default ...
By The Disciplined Investor (The Disciplined Investor)
At these rates, Greece should theoretically default within days or weeks. There is no way that the country will be able to pay the amounts needed to fund their borrowing needs if their debt is sold to the public. Fortunately there has been the ...
The Disciplined Investor


Harrisburg may avoid default; Pa. looks at control
Reuters
Meanwhile, the state legislature is taking steps to set up a receivership to solve the city's long-term fiscal crisis. Under a bill state lawmakers hope to introduce later this month, Governor Tom Corbett would be empowered to declare a fiscal ...
US Postal Service on 'Brink of Default'
Voice of America
He has also said that "crushing postal workers and slashing service will not solve the Postal Service's financial crisis." But change is needed, according to the committee's chairman, Senator Joe Lieberman of Connecticut. ...
Kazakhstan snubs banks linked to BTA default
Financial Times
BTA was taken over by the government in early 2009 as the global financial crisis engulfed Kazakhstan's debt-laden banks. Morgan Stanley, together with another unnamed international bank, then cited change of ownership contracts to call in a $550m loan ...
Bank, Sovereign Bond Risk Retreat From Records on Stimulus Bets
San Francisco Chronicle
7 (Bloomberg) -- Bank and sovereign credit-default swap indexes retreated from records in Europe as investors bet on renewed US economic stimulus and a German court approved the country's participation in euro area rescue funds. ...

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