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

Thursday, October 20, 2011

Foreclosure activity soars in third quarter, ending lengthy lull

Foreclosure activity soars in third quarter, ending lengthy lull
Los Angeles Times
The number of notices of default jumps 25.9% from the second quarter. The increase comes as settlement talks have stalled between banks and state attorneys general over the robo-signing scandal. Although more California homes entered the foreclosure...
Europe on the breadline: 'I don't know how a default could be worse than this'
The Guardian (blog)
The Troika and the Greek government have held the people to ransom with the threat of a default and the chaos and poverty that would ensue. Looking around Athens today, at the spiralling poverty, rising prices and endless strikes, it's hard to imagine ...
'No Question Greece Will Default': Economist
CNBC.com
Greece will default, US economist Martin Feldstein told CNBC Wednesday, and it might be good for the country to leave the European Union. "Somebody may write the check so that they get past the deadline, but there is no question Greece is going to ...
Sovereign, Company Default Swaps Fall on Debt Crisis Optimism
BusinessWeek
By Michael Shanahan Oct. 19 (Bloomberg) -- Credit-default swaps insuring government and company bonds fell on optimism European policy makers will come up with a plan to help resolve the region's debt crisis. The Markit iTraxx Crossover Index of ...
EU adopts stricter rules on short selling, bans 'naked' short selling of ...
Washington Post
BRUSSELS — The European Union agreed Tuesday to more strictly regulate the short selling of shares and bonds and to ban so-called “naked” credit default swaps on government bonds, moves officials said will contribute to financial stability. ...
Two-thirds of fund managers expect Greek default
Financial Times
By Keyur Patel Fund managers overwhelmingly expect a Greek default, with almost three-quarters thinking it will happen by the first quarter of 2012, according to a survey by Bank of America Merrill Lynch. But although investors continue to foresee weak ...
Argentina's Default, Cont'd
NPR (blog)
by Jacob Goldstein NPR's Planet Money made its entry in the Stake Your Claim game show with a segment on Friday that claimed that Argentina is suffering horribly as a result of its decision todefault at the end of 2001. It turns out that Argentina has ...
Stark Says Italy Default Not ECB Working Assumption, IR Reports
BusinessWeek
By Gabi Thesing and Aaron Eglitis Oct. 20 (Bloomberg) -- European Central Bank Executive Board member Juergen Stark said the ECB doesn't expect Italy to default, Latvian magazine Ir reported, citing an interview. “It's not our working assumption,” ...
Goldman's 'Confusing' Default Swaps Aren't Wrong, Viniar Says
BusinessWeek
By Christine Harper Oct. 19 (Bloomberg) -- Goldman Sachs Group Inc. Chief Financial Officer David A. Viniar said the increase in the cost to insure against a default by his company isn't wrong. It's just “confusing.” “I don't believe markets are wrong ...
Contagion inevitable if EU crisis spreads to banks: Gordhan
Reuters Africa
JOHANNESBURG (Reuters) - If Europe's debt crisis spreads to that region's banking sector, the contagion effect would be inevitable and South Africa could be further affected, Finance Minister Pravin Gordhan said on Wednesday. ...
Greece Financial Crisis Protest Pictures
Monsters and Critics.com
By M&C Oct 19, 2011, 15:48 GMT A protestor throws a molotov cocktail at riot policemen guarding the parliament in Syntagma square, Athens, Greece, 19 October 2011, during a mass demonstration called by the public and private sector labour unions to ...
Noyer: French banks can cope with euro zone default - UK TV
Reuters
LONDON Oct 19 (Reuters) - French banks are strong enough to survive a sovereign default in the euro zone, although they will soon be asked to strengthen their capital reserves to reassure markets, France's central bank head said in a British TV ...
RBI allows Credit Default Swap
NDTV.com
PTI, October 19, 2011 (Mumbai) The Reserve Bank on Thursday allowed Credit Default Swap (CDS), a derivative instrument that offers credit protection, for financial institutions and companies. The Reserve Bank of India (RBI), having considered that it ...
California Beats Bond Forecast on Default-Risk Drop: Muni Credit
BusinessWeek
The credit-default swaps market is also signaling investors are less concerned about the debt. The cost of protecting California bonds against default for 10 years is 252 basis points, down from about 300 basis points in January, according to market ...
Indiana Student Loan Default Rate Tops All But Two Other States
StateImpact Indiana
Indiana's 11.61 percent default rate on federal student loans is higher than the rates in all but two states — Arizona and Arkansas. That figure comes from the USA Today which, in a report published Tuesday, points a finger at for-profit colleges: ...
Egypt eclipses Dubai in cost of default protection
The National
Dubai's swap spreads have been some of the highest in the region since the onset of the financial crisis forced several big government-owned businesses to restructure debt to avoid default. "We should never underestimate the importance of the political ...
Eurozone financial crisis: £250000 prize offered up by Tory peer for viable ...
The Periscope Post
As the eurozone financial crisis continues, will ditching the single currency become the only option? Plan B. In fact, Next chief executive and Conservative peer Wolfson isn't suggesting the monetary union must be dismantled – only that this may well ...
EU financial crisis to be over by next year: Swedish Foreign Minister Carl Bildt
Economic Times
MUMBAI: Swedish Foreign Minister Carl Bildt today said he expects "significant measures" to come out of the European Union Summit on Sunday and that the troubled region will be out of financial crisis next year. "Sunday is not going to sort out all the ...
Bernanke says financial crisis moves staying in Fed playbook
The Hill
By Peter Schroeder - 10/18/11 07:55 PM ET Some of the unprecedented steps taken by the Federal Reserve in the aftermath of the financial crisis will likely stay in the central bank's playbook, Chairman Ben Bernanke said Tuesday. ...
Blame the Fed for the Financial Crisis
Wall Street Journal
Yet policy makers at the Federal Reserve still fail to understand the causes of our most recent financial crisis. So they find themselves unable to come up with an adequate solution. In many respects the governors of the Federal Reserve System and the ...
Moody's Analytics Economist Urges Bigger EFSF to End Crisis
BusinessWeek
By Stelios Orphanides Oct. 19 (Bloomberg) -- European policy makers can help end the debt crisis through an orderly Greek default, interest-rate cuts, further bond purchases and a bigger rescue fund, said Steven Cochrane, head of economic research at ...
Reserve Bank of India warns of another global financial crisis
Economic Times
MUMBAI: Reserve Bank of India (RBI) has warned of another financial crisis brewing, as global liquidity becomes a concern amidst central banks pegging their lending rates at near zero levels, leaving scope for another asset bubble to take down the ...
Experts propose measures to survive global financial crisis
BusinessWorld Online Edition
THE PHILIPPINE government should increase investments in social services, improve revenue mobilization, fast-track infrastructure projects, and enhance the business climate if it is to keep the country's economy afloat amid the international financial ...
Investors await a Greek default - BofA poll
Moneycontrol.com
By Jeremy Gaunt, European Investment Correspondent LONDON (Reuters) - A large majority of global investors believe that Greece will default on its sovereign debt, with nearly three quarters of them expecting it by the end of next year's first quarter, ...
Big boys call the shots in EU financial crisis
Daily Star Online
Small countries are supposed to know when to shut up and simply do as they are told. At least that is the opinion of Mr. Jose Manuel Barroso, the European Union's top-ranking official, who was infuriated last week when Slovakia, one of the EU's newest ...
BofA Merrill Lynch Fund Manager Survey Finds Sovereign Debt Fears Easing as ...
MarketWatch (press release)
NEW YORK & LONDON, Oct 19, 2011 (BUSINESS WIRE) -- Global investors appear to be coming to terms with the prospect of a default by the Greek government, according to the BofA Merrill Lynch Survey of Fund Managers for October. ...
The American Financial Crisis
OpEdNews
These crises typically end in default and restructuring, although sometimes the default is through currency debasement (inflation). The high levels of debt normally take years to work off, and create a prolonged slump as businesses and consumers ...
Gordhan warns of EU contagion — Clearing and Settlement
By RSS Feed
Johannesburg – If Europe's debt crisis spreads to that region's banking sector, the contagion effect would be inevitable and South Africa could be further affected, Finance Minister Pravin Gordhan said on Wednesday. Gordhan said however ...
Clearing and Settlement — Clearing...

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