Credit-Default Swap Risk Bomb Is Wired to Explode: Mark Buchanan
This hidden network has been created by institutions that buy and sell unregulated credit-default swaps. These are essentially insurance contracts on bonds; in the event of a default on the bond, the seller of the swap promises to pay the buyer the ...
Notices of default could hit record low due to new Nevada law
National Default Servicing and Pasillas v. HSBC Bank "” the Nevada Supreme Court mandates "strict compliance" by banks in mediation to bring required documents and have deal-making authority present in mediations. » Oct. 1: AB284 mandates stricter ...
Crude Oil Rallying by Default
by Chuck Kowalski of CommoditiesStreet.com Crude oil futures caught fire in the last week as the Eurozone crisis looks to have found some type of viable solution - at least for now. I think deep down, most investors who are knowledgeable in economics ...
Despite Market Reactions, Global Financial Crisis Still Looms Large
Contagion hаѕ bееn thе concern — thе dreaded ripple effect frοm Greece, whісh іѕ brοkе аnԁ broker. Fοr thе moment, thаt's bееn averted, bυt іf conditions іn Greece don't improve — аnԁ here's modest hope οn thаt horizon аt thе moment — thеn thіѕ ...
A Default By Any Other Name...
Aha, one thinks, they've found a solution that doesn't involve Greece going into default. They reached a "deal." But wait a minute. The second line reads: "Private Investors to Take 50% Haircut." What is a 50% haircut if not a default? Let's see here. ...
Financial crisis forces people to rethink spending and debt
Evansville Courier & Press
By Mizell Stewart III EVANSVILLE — The financial crisis and resulting recession has wreaked havoc on household balance sheets, forcing families to think much differently about spending and debt. Unemployment and falling home prices have threatened the ...
Default is officially a financial management technique
President Obama has effectivly created a loan relief scheme that is predicated on default. This will enable and perhaps even encourage, more borrowers to borrow beyond their means because at a measured pace of minimal re-payment ( 10% + 20 years) ...
Large E&O claims stem from financial crisis
The financial crisis' effect on real estate-related business is being felt in errors and omissions liability coverage. Banking and diversified financial firms that told their clients to invest in risky creditdefault swaps or subprime mortgages now ...
EU Crisis Contagion Risk Exists, Hatzius Tells Der Tagesspiegel
European economic data remain weak and “contagion is still always a risk” for the US economy, Hatzius said in the interview. Goldman forecasts a slight recession in the euro area for the fourth quarter of 2011 and first quarter of 2012, the newspaper ...
FHA Finds Some Borrowers More Likely to Default on HECM Tax and Insurance
Reverse Mortgage Daily
Borrowers in HECM default share some common characteristics, the Department of Housing and Urban Development reported to attendees of the National Reverse Mortgage Lenders Association conference in Boston last week. Reporting on data compiled in recent ...
The Euro Crisis: Doubting the 'Domino' Effect
Wall Street Journal
One does not have to deny the role of contagion to believe that Lehman was not the domino that toppled the others. But our financial crisis was caused by factors that affected the entire system, just as all corn kernels pop when they are warmed by the ...
A student loan default can trigger dire consequences
Two weeks ago, the Federal Reserve Bank of New York reported the newest stats on student loan debt. Last year, for the first time ever, the amount of loans taken out by students hit the $100 billion mark. What's more, USA Today recently reported that ...
How government is to blame for global financial crisis
Countrywide was not a Glass-Steagall issue, nor was Bear or Lehman or any of the other major problems from the credit crisis. In fact, the 'fix' for the investment banking business model was universal banking as all of the existing investment banks ...
Eurozone Rescue Plan: Lessons From Argentina's Currency Crisis
In both cases macroeconomic adjustment is impossible through the exchange rate, which leaves internal devaluation (ie austerity) and/or debt default as the only remaining options. 2. Both policies worked well for about a decade. ...
Securities Law Prof Blog: Lo on Financial Crisis Literature
By Securites Lawprof
The recent financial crisis has generated many distinct perspectives from various quarters. In this article, I review a diverse set of 21 books on the crisis, 11 written by academics, and 10 written by journalists and one former Treasury Secretary. ...
Securities Law Prof Blog
Lo on Financial Crisis Literature - Legal News Directory
Reading About the Financial Crisis: A 21-Book Review, by Andrew W. Lo, MIT Sloan School of Management; MIT CSAIL; National Bureau of Economic Research (NBER),
Legal News Directory
Fitch: Greek debt deal consitutes a default | ForexLive
A 50% haircut constitutes a default. The only one's who don't seem to know it are the ISDA, the one's who declare what is or is not, a credit event, and the ECB, which can't accept bonds deemed to be in default as collateral. Share and Enjoy: ...