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

Tuesday, October 18, 2011

Greek Credit-Default Swap Payout Should Be Allowed, Tchir Says

Greek Credit-Default Swap Payout Should Be Allowed, Tchir Says
BusinessWeek
By Abigail Moses Oct. 17 (Bloomberg) -- Greek sovereign credit-default swaps should be allowed to pay out to support demand for government bonds and ensure the wrong investors aren't punished, according to hedge fund manager Peter Tchir. ...
Default Swaps Fall Most Since 2009 Beating Europe, U.S.: Australia Credit
Bloomberg
By Sarah McDonald - Mon Oct 17 13:00:01 GMT 2011 Corporate bond risk in Australia is dropping at the fastest pace in two years, beating declines in Europe and the US as investors bet a global financial crisis will be averted. ...
US firms in default hit lowest since April 2008
USA Today
A 1.9% default rate, while low, is still up from the record-breaking low 1% default rate notched at the end of 2007, S&P says. And investors aren't completely at ease; they have demanded higher interest rates from companies with low credit ratings, ...
Financial crisis protests: the world versus the bankers
The Guardian
Spool back a dozen years – before all protesting energy was diverted into resisting the Bush wars – and the Carnival Against Capitalism could draw big numbers on to City streets, indeed rather bigger numbers than are camped outside St Paul's Cathedral ...
Orderly Greece default won t distress euro zone Aegon
Moneycontrol.com
In an exclusive interview to CNBC-TV18's Latha Venkatesh, Wynaendts says that a Greece default is already priced in by markets, but care should be taken to ensure that it is done in an orderly way. Below is an edited transcript of his interview. ...
Global protests pressure G20
Sydney Morning Herald
WORLD leaders are under pressure to produce a decisive plan to rescue the euro zone after a meeting of G20 finance ministers vowed that they did not want any ''contagion'' from Europe's financial crisis to affect their own economies. ...
ECB's Trichet: eurozone governance must improve
Boston Globe
VIENNA—The outgoing head of the European Central Bank is urging governments to improve their performance in the face of the eurozone's financial crisis, which he describes as a global problem. Jean-Claude Trichet also says the euro remains a reliable ...
Brazil May Face Capital Flight on European Debt Crisis, IMF Director Says
Bloomberg
By Arnaldo Galvao - Mon Oct 17 11:46:05 GMT 2011 Brazil could experience a flight of capital should the European sovereign-debt crisis worsen, and the country may use interest rates and US dollar reserves to combat contagion, an International Monetary ...
Metals fall after last week's rally on fresh worries of a prolonged European ...
Washington Post
By AP, Metal prices fell Monday on increasing doubts that European leaders will act soon to contain that region's financial crisis. Copper for December delivery dropped 3.05 cents, or nearly 1 percent, to end at $3.3780 a pound. ...
Let Greece Default
Huffington Post Canada
To put the Greek default crisis in a Canadian perspective, it is mindful of how Ottawa keeps hurling money at Indians -- who waste it lavishly -- and the federal government responds by funneling in even more money. Everyone knows this should stop, ...
Beijing Acts to Ease SME Credit Crisis
Business China
October 17, The credit crisis engulfing Chinese small and medium-sized enterprises (SMEs) has forced the central government to announce a series of policies to assist struggling firms, as officials look to avoid bankruptcies and mass job losses. ...
Corporate Bond Risk Falls in Europe, Credit-Default Swaps Show
Bloomberg
Credit markets rallied earlier after Group of 20 finance ministers and central banks concluded weekend talks in Paris by setting an Oct. 23 deadline for a plan to bolster banks and curbcontagion. “Markets continue to expect too much,” Marchel ...
Consequences of economic, financial crisis have never been so hard and severe ...
Focus News
In his words, the consequences of the economic and financial crisis have never been so hard and severe before. According to Dulevsi, the focus is put on the tackling of the financial crisis and trillions of euro are spent on rescuing the financial ...
Argentina Suffering From Default: Not on This Planet
Business Insider
As can be seen, Argentina was already in a severe recession prior to default. It had tied its currency to the dollar, which went through the roof following the East Asian financial crisis in 1997. While the United States could support the trade deficit ...
EU leaders call for restoring confidence to resolve financial crisis
Kuwait News Agency
BRUSSELS, Oct 17 (KUNA) -- European Union leaders stressed here Monday that restoring confidence in the EU economic system is necessary to deal with the crisis in Europe. "Economic growth and employment bear the brunt of a loss of confidence. ...
Different mortgage types default at different times
Housing Wire
by KERRI PANCHUK Both fixed-rate and adjustable-rate mortgages are susceptible to default, though at different times when the right amount of economic volatility shakes the financial markets, according to a new report from the National Bureau of ...
Recommended: Europe's bankers resisting bigger debt losses
msnbc.com (blog)
After months of failed efforts to help the Greek government make good on those debts, Europe's politicians have now finally accepted that avoiding default simply isn't feasible, according to Paul De Grauwe, professor of international economics at ...
Jefferson County advertising bills aimed at easing financial crisis
al.com (blog)
By Barnett Wright -- The Birmingham News BIRMINGHAM, Alabama -- Jefferson County officials are advertising 10 bills they hope the Alabama Legislature will consider in a possible special session to help the county with its financial problems. ...
Treasury to review financial crisis response
Money Marketing
The Treasury has launched a review into its management of the financial crisis following recommendations made by the Public Accounts Committee and the National Audit Office. The review, which started today, will examine the Treasury's capability on...
Nouriel Roubini: Greek default could trigger a Lehman's size shock
ForexLive (blog)
By Joe Brown || October 17, 2011 at 11:47 GMT The founder and chairman of Roubini Global Economics that default from a Eurozone member or an exit from the Euro couls cause a shock “that would reverberate through the global economy”. ...
Hedges Haunt Morgan Stanley
Wall Street Journal
MBIA has limped through the financial crisis, and the market regards the insurer as having a high risk of default. Prices of these insurance-like contracts, called credit-default swaps, on MBIA have swung widely, causing Morgan Stanley to lose money ...
Daily ETF Roundup: VXX Soars On European Uncertainty, EWZ Slumps On Inflation ...
ETF Database
Thanks to this, some are now unsure if the response from the large European  nations will be enough to stave off default and prevent a contagion from spreading across the continent's weaker members. Unsurprisingly, many investors bolted to the ETN ...
The “Occupy Wall Street” Inspired Resurrection Of A Paper On Inequality And ...
Business Insider
But the research by Michael Kumhof and Romain Rancière actually shows that inequality is actually associated with occurrence of financial crisis. In their detailed research paper, the abstract reads (emphasis mine): The paper studies how high leverage ...
Capping interest rates to stop EZ contagion | vox - Research-based ...
The aim of this column is to propose a concrete plan to build such a firewall and halt the spread of contagion of the debt crisis to Italy and Spain. A straightforward solution to stop contagion would be to appoint the ECB as a lender of last resort ...
VoxEU.org: Recent Articles
The Simple Solution to the European Fiscal Crisis « International ...
By Dan Mitchell
Do not give bailouts to nations, even if that means they default. This isn't good news if you bought, say, Greek or Portuguese bonds, but there are two big advantages of default. First, it means that the bailouts come to an end so the debt bubble ...
International Liberty
Contain the Contagion? Really? | The Real Revo
By Locke n Load
Contain the Contagion? Really? October 17, 2011 3:35 pm Locke n Load. A few days back when I wasn't feeling on my game I started writing up a synopsis of what I saw about to happen, and what I thought actually needs to be done, in Europe. I sent it off to RD to check through what I thought was probably a ... First, they have to address the situation from a fatalist point of view and accept a managed Greek default. An honest accounting must be made of the potential losses each ...
The Real Revo
Citigroup's Exposure To The PIIGS, France, And Belgium (C ...
By Sam Ro
Citigroup just reported better-than-expected earnings. In case you were wondering, here's their exposure to Europe. You can find the ...
Embargo Zone
Credit-Default-Swaps: Misleading "Market" - Forbes
This story appears in the Oct. 24 edition of Forbes magazine. The other day the Wall Street Journal ran an analysis of actual trades that make up the ...
www.forbes.com/.../credit-default-swaps-misleading-market/?...
Economist's View: "Financial Crisis and Stimulus"
Ezra Klein: Financial crisis and stimulus: Could this time be different?, by Ezra Klein, Commentary, Washington Post: Christina Romer had been asked to scare ...
economistsview.typepad.com/.../financial-crisis-and-stimulus.h...
An Update on the Iceland Financial Crisis « Beyond Money
Because of the way in which its people have responded to the financial crisis, tiny Iceland has drawn a lot of attention lately. Some pertinent information about ...
beyondmoney.net/.../an-update-on-the-iceland-financial-crisis/

Chance of Greek Debt Default High, Say Milken Institute Researchers
MarketWatch (press release)
Given the potential contagion risk for the world economy, it would be preferable to err on the side of doing more than what seems necessary." DeVol concludes: "Greece should not be allowed to be the trigger for a global recession -- and it can be ...

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