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

Wednesday, October 12, 2011

Pimco Sells Default Swaps on Banks at Record High: Japan Credit

Pimco Sells Default Swaps on Banks at Record High: Japan Credit
San Francisco Chronicle
Oct. 12 (Bloomberg) -- Pacific Investment Management Co., manager of the world's biggest bond fund, is selling credit- default swaps on Japanese banks as prices climb to the highest on record in a bullish bet on the nation's lenders. ...
Fitch Revises Banco Industrial's Outlook to Stable; Affirms IDR at 'BB'
MarketWatch (press release)
BI proved its resilience during the global financial crisis, maintaining a sound asset quality. BI's loans and foreclosed assets have been relatively stable (0.8% of gross loans and foreclosed assets as of June 2011) and loan loss reserves have ...
Setting Up the Greek Default
Wall Street Journal (blog)
Germany and France finally have to come to an agreement over whether to pump up the planned €440 billion European Financial Stability Facility for a bailout four times that size for putting out contagion fires along the euro zone's southern fringe. ...
Downgraded Debt Defying Default Lures Wells Capital: Muni Credit
BusinessWeek
Still, Scranton's likelihood of default stands at 0.81 percent compared with an average 2.4 percent for BB- rated corporate bonds, according to S&P data. --With assistance from Michelle Kaske and Andrea Riquier in New York. ...
China's Bank Default Swaps Drop as State Investor Buys Shares
BusinessWeek
Central Huijin, set up to hold the government's stakes in the banks, boosted its holdings after valuations sank below levels during the global financial crisis. The arm of China's sovereign wealth fund began buying shares of Agricultural Bank of China ...
Fortune Brands Default Swap Traders Seek Succession Event Ruling
BusinessWeek
By Mary Childs Oct. 11 (Bloomberg) -- The committee that governs credit- default swaps was asked to rule if Fortune Brands Inc.'s spinoff of its home and security business is a succession event. Fortune Brands renamed itself Beam Inc. and separated ...
A Brief History Of The Financial Crisis: Avoid European Financials
Seeking Alpha
They started talking about the possibility of a Greek default, and then implemented it in the form of a (roughly) 21% 'haircut' in the summer. This single policy blunder escalated the euro crisis. Suddenly people woke up to the fact that bonds from ...
Nouriel Roubini Offers Solution to Financial Crisis
Hedge Fund Net
Roubini, the New York University professor who accurately predicted the global financial crisis and the collapse of the US housing market that took place in 2008, expressed his grim outlook at a forum held Thursday in New York City. ...
W.Va. exceeds national student loan default rate, high number of low-income ...
The Republic
A recent US Department of Education report says the loan default rate for students at 56 public and private universities in West Virginia in fiscal 2009 was 9.7 percent, the 14th worst in the nation. The national default rate was 8.8 percent. ...
Public Health In Greece Suffers As Financial Crisis Bites
Medical News Today
According to a report published by The Lancet, signs have indicated that health outcomes during thefinancial crisis in Greece have worsened, particularly in groups that are vulnerable. The report was written by Dr David Stuckler and Alexander ...
Execs Of Failed Bank Duped Investors, SEC Says
Financial Advisor Magazine
United Commercial Bank was one of the ten largest bank failures of the financial crisis, causing a loss of $2.5 billion to the FDIC fund. The US Attorney for the Northern District of California today also announced parallel criminal charges against ...
Sovereign, Bank Credit-Default Swap Indexes Fluctuate in Europe
Bloomberg
By Abigail Moses - Tue Oct 11 11:36:12 GMT 2011 The cost of insuring against default on European sovereign and financial debt fluctuated, according to traders of credit-default swaps. The Markit iTraxx SovX Western Europe Index of swaps on 15 ...
Ministers fear deepening financial crisis
YLE News
Government ministers have expressed their fears on new problems in the euro crisis and of the possibility of a new European banking crisis. Speaking in the parliamentary budget debate on Tuesday, Prime Minister, Jyrki Katainen, called for action to ...
Fact or fiction? No one on Wall Street went to jail for financial crisis
Christian Science Monitor
A recurring theme among Occupy Wall St. protesters and some Democratic politicians (see this massively popular Tumblr image mashup) is that no financial industry types have gone to prison for the malfeasance that led to the financial crisis...
The Bric countries can't save us
The Guardian
Photograph: Milos Bicanski/Getty Images Three years on from the 2008 financial crisis, the world economy is tottering on the brink of another serious downturn. Of the major economies Britain has been doing the least well, with three successive quarters...
Restitution by Financial Sector
Huffington Post (blog)
(c) Credit Default swaps should be banned. (If a deal is too risky, it should not be made. Otherwise, the insurer should be required to maintain a 40% tier one asset reserve for the amount each high risk insured.) (d) Former Usury Laws (7-8% interest) ...
Real estate market stabilizing?
Portland Tribune
According to the figures, in 15 of the Oregon counties where the company operates, there were 828 notices of default in September 2011 – a statistically insignificant 1 percent increase from August 2011, when 818 notices of default were filed. ...
PSU Tops in the Big Ten for Student-Loan Defaults
State College News
Penn State counts the highest student-loan default rate among all 12 universities in the Big Ten, according to a report shared Tuesday. In fact, the default rate last year among Penn State students and graduates was 3.4 percent, exactly double the Big ...
Economy: Global financial crisis reduces gross domestic product growth
Afrique en Ligue
Financial crisis-Angola - The effects of the global financial crisis, which also hit Angola from 2009, reduced the average growth rate of Gross Domestic Product (GDP) of 17% in 2008 to 2% to 3% percent between 2009 and 2011, said the minister of ...
Can Greece Shine its Way out of Default?
Triple Pundit
With its economy contracting about five percent this year, a huge lifeline is needed if the country avoids default on all of its loan obligations. Last week Germany's economy minister Phillip Rösler, his aides, and solar energy business leaders ...
Russia to bail EU out of financial crisis?
thenews.pl
According to Medvedev's top economic expert, the financial crisis in Europe may have negative consequences on markets in Eastern Europe and Asia. This is not the first time that Moscow has pushed Brussels into tightening cooperation between Russia and ...
The Questions Investors Should Be Asking Themselves Today
Forbes
The EU's finance ministers have quietly acknowledged what the bond market has been telling us for months: Greece will default. They didn't exactly say it, mind you. But they have all but admitted as much with their recent statements that European banks ...
Indonesia Can Take Comfort From the 2008 Global Crisis
Jakarta Globe
These worries are justified, but Indonesia's domestic economy proved very resilient during the globalfinancial crisis of 2008-09 and will likely prove equally resolute during the current crisis. During the 2008-09 crisis, growth slowed to 4.6 percent ...
German push for Greek default risks EMU-wide 'snowball' | ForexLive
Germany is pushing behind the scenes for a hard default in Greece with losses of up to 60% for banks and pension funds, risking a chain-reaction across.
ForexLive
cryptogon.com » German Push for Greek Default Risks EMU-Wide ...
By Kevin
Germany is pushing behind the scenes for a “hard” default in Greece with losses of up to 60pc for banks and pension funds, risking a chain-reaction across southern Europe unless credible defences are established first. Posted in Economy ...
cryptogon.com
10/10 AEP: German push for Greek default risks EMU-wide 'snowball'
By John Galt
By John Galt October 10 2011 – 21:20 ET From the UK Telegraph tonight,, via Ambrose Evans-Pritchard….all I can add is “uh-oh”: German push for Greek default risks EMU-wide 'snowball' From the link to the article above (excerpted): “A lot ...
Shenandoah
We're Fast Approaching the Lehman Event in Europe (Greek Default ...
By admin
Meanwhile Sarkozy and Merkel continue to make “plans” for what to do… The reality is they have no plans other than throwing money at Europe's banks and the PIIGS. All they're doing is playing for time while they prepare for a Greek default...
Bear Market Investments
Financial Crisis in the Logistic Regression Model's Construction and ...
By rain
Since 2007, the U.S. subprime mortgage crisis has triggered a worldwide economic crisis and spreaded further,It has endangered and overwhelmed many companies, so many comies have closed down. become all country, and all ...
Economics Papers,Economics Term...
The Credit Crisis Explained Without Nuance | centermovement.org
By Guest Bloggers
This is a good overview, but fails to show exactly what the margins are in accurate terms. So what we had was more accurately double the default rate, from about a 2% default rate to a 4% defaultrate. So...
centermovement.org
Default Notices – September | bubbleinfo.com
By Jim the Realtor
Default Notices – September. In August we saw a spike in NODs, mostly due to Bank of America's increased output. It was mentioned here that the September NODs appeared to be slowing, but found that foreclosureradar.com's reporting of ...
bubbleinfo.com
Preparing for the Greatest Depression and a Greek Default ...
By SJB
Preparing for the Greatest Depression and a Greek Default. from GoldSeek.com: It is now clear the US economy has broken down in a BIG way. Indeed, no less than Ben “green shoots” Bernanke has stated that the recovery is “close to ...
SGTreport.com
Bankers Charged With Hiding Millions In Losses During 2008 ...
By steve
The DOJ has brought criminal charges against former bank executives for allegedly misleading investors about mounting loan losses at San Francisco-based United Commercial Bank during the height of the financial crisis in 2008 and 2009. ...
Financial Fraud Law

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