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

Saturday, October 1, 2011

George Soros Thinks We're Headed Towards Another Depression

George Soros Thinks We're Headed Towards Another Depression
Forbes
The US and Chinese economies are heavily dependent on exporting goods to Europe, and with Eurozone growth slowing as a result of the potential default in Greece, and then on to the rest of thePIIGS, a “Great Depression-like scenario” could very well ...
SEC May Hold More People Accountable For Financial Crisis: Report
Huffington Post
The federal government is trying to make it easier to hold people responsible for the financial crisis. Joshua Rosner, managing director at Graham Fisher & Co., told The Huffington Post that the SEC's settlements with banks so far have supported an ...
Modified loans in default
New York Post
Mortgage delinquencies have increased amid slow economic growth and a US unemployment rate that's been 9 percent or higher since April. Mortgage default notices from banks sent to delinquent homeowners surged 33 percent in August from the previous ...
IIFL s view on base metals
Moneycontrol.com
Effectively, bond yields have soared in countries, which are deemed to the most pregnable to the debt contagion. Specifically, Greece, Italy, Portugal, Spain, and Ireland or colloquially named as “PIIGS” are considered to be the most susceptible. ...
Steve Bell on the eurozone crisis
The Guardian
Ah, yes, the Eurine zone, and PIIGs do fly...... Still, it will be nice for Greece to partially default and go back to the Dracma and be free of the Eruine as a currency. Love the fat-cat's paws. And props for elbowing Danny Alexander. ...
AJK govt not to default on payments: FM Ch Latif Akber
Kashmir Watch
ISLAMABAD: Finance Minister of AJK Ch Latif Akber has, via media, debunked widely circulated impression that the government of Azad Kashmir has financially defaulted as “it is no longer in a position even to make monthly payments of salaries to its ...
'Workers offered golden goodbyes'
BBC News
By Susannah Streeter Business reporter, BBC News Financial incentives could be offered to encourage workers to move on now the default retirement age has been scrapped, a law firm has said. Employers can no longer retire workers compulsorily once they ...
European nations can avoid default - Brazil finmin
Reuters
SAO PAULO, Sept 30 (Reuters) - Brazil Finance Minister Guido Mantega said on Friday he is confident that debt-laden European countries are able to avoid default. "I'm optimistic and I believe that Europe has the capacity to react to this worsening of ...
Goodbye to worst market quarter since the financial crisis
Moneycontrol.com
Stock investors Friday say goodbye to the worst quarter since the depths of thefinancial crisis, but the searing volatility that led to the third quarter's 12% decline is likely to continue. Markets will grapple in the fourth quarter with the same ...
Morgan Stanley's Credit-Default Swaps, Outlook
Bloomberg
30 (Bloomberg) -- John Guarnera, a financial analyst at Societe Generale, discusses Morgan Stanley's credit-default swaps, which are being priced in the CDS market as less creditworthy than most US, UK and French banks and as risky as Italy's biggest ...
Workers, international capital struggle over possible default
Workers World
The bankers fear that a Greek default would destroy the European Union and the eurozone — those 16 countries that use the euro as their common currency. The workers fear that the austerity measures a bailout plan would impose, added to the draconian ...
Stocks Mark Worst Quarter Since Credit Crisis | Boise State Public ...
By NPR
Stocks Mark Worst Quarter Since Credit Crisis. The worst quarter for the stock market since thefinancial crisis ended on another down note. .... Many European leaders and traders believe Greece will default in the coming weeks or months. ...
Boise State Public Radio
ECB: The global financial crisis and the role of monetary policy
Today we are experiencing the worst economic and financial crisis of the .... and became very intense in September 2008 with the default of Lehman Brothers. ...
www.ecb.int/press/key/date/2011/html/sp110924.en.html

Morgan Stanley Seen Risky as Italian Banks in Swaps Market
BusinessWeek
Morgan Stanley was the biggest recipient of emergency loans from the Federal Reserve during thefinancial crisis and also benefited from capital provided by Tokyo-based Mitsubishi UFJ Financial Group Inc., now the biggest shareholder, ...
Default retirement age scrapped
The Guardian
A phasing out of the default retirement age (DRA), which enables employers to force staff to retire at 65, is completed this weekend. Age UK's director of charity, Michelle Mitchell, said the end of the DRA was a victory for older workers "who for too ...
ECB Could Survive a Greek Default, but What About the Banks?
New York Times
The Greek media reported a week ago that Finance Minister Evangelos Venizelos had discussed plans for an orderly default with the International Monetary Fund chief Christine Lagarde and the president of the European Central Bank, Jean-Claude Trichet, ...
Stocks Log Worst Quarter Since Credit Crisis
CNBC.com
Stocks finished near session lows Friday as investors were reluctant to remain in the market ahead of the weekend and closed out its worst quarter in almost three years amid fears over the global recovery. For the quarter, all three major averages ...
Credit Markets Heading for Worst Quarter Since 2008 in Europe
San Francisco Chronicle
Faster inflation increases pressure on an economy already hurt by tougher austerity measures and waning investor confidence as governments struggle to contain the fiscal crisis. The Markit iTraxx SovX Western Europe Index of swaps on 15 governments ...
Beijing's Response to Default Will Be Key
Wall Street Journal (blog)
The importance of China was illustrated during the financial crisis in 2008, when with its economy expanding at 10%, the country was instrumental in dragging the world out of recession. The world recovery has faltered again. But as a recession looms, ...
Need Greek default to shock European markets: Nick Parson
Moneycontrol.com
Nick Parsons of National Australia Bank tells CNBC-TV18 there is a high possibility of a financial crisis looming in the near horizon. “In order to bring European policymakers to a sustainable solution for Greece and for the rest of the peripheral ...
Dow closes down 2.2%: Stocks' gloomy 3Q ends
USA Today
NEW YORK (AP) – The worst quarter for the US stock market since the financial crisis ended on another down note. By Mark Lennihan, AP In this file photo, Bank of America specialist Scott Wetzel monitors stock prices at the New York Stock Exchange. ...
Schaeuble Cites Contagion Risk as German States Vote on EFSF
BusinessWeek
By Tony Czuczka and Patrick Donahue Sept. 30 (Bloomberg) -- German Finance Minister Wolfgang Schaeuble said “worryingly high” global debt levels and the risk of a banking crisis mean the expansion of the euro-area's rescue fund is urgent. ...
Greece: This cannot end well
CNNMoney
Euro supporters say even a structured default by Greece could hit banks across Europe and drive up borrowing costs for other debt-stricken nations. The so-called contagion would be difficult to contain and could lead to a break up of the euro currency ...
The world has turned to US dollar by default
Financial Times
While contagion from that festering problem will hit the US itself in all sorts of unpredictable ways, the inability of the Europeans to come up with a solution has allowed Americans to feel complacent again about their own circumstances. ...
Current fiscal crisis must not erode social protections for elderly, Ban warns
UN News Centre
The provision of social protection, long-term care and access to public health for the elderly must not be undermined because of the current fiscal environment, Secretary-General Ban Ki-moon has warned ahead of events for the day marking this growing ...
CLO Market Would Weather a Default by Greece, Wells Fargo Says
BusinessWeek
European banks are more likely to use CLOs as security for loans from central banks or foreign lenders should the financial crisis deteriorate, analysts led by Charlotte, North Carolina- based David Preston wrote in a research note yesterday. ...
Doom Street: Stocks Walloped in Worst Quarter Since '08 Financial Crisis
Fox Business
Meanwhile, a deadlock in Washington, DC over raising the US debt limit nearly sparked a selectivedefault of American debt, and contributed to Standard & Poor's slashing the US's pristine triple-A credit rating. At the same time, headlines from Europe ...
ADR REPORT-Signs of contagion as euro banks slide
Reuters
NEW YORK, Sept 30 (Reuters) - Big European financial institutions such as Deutsche Bank and Credit Suisse tumbled on Friday, pulling down US counterparts as fears of a contagion effect from a possible Greek default mushroomed. As Wall Street skidded to ...

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