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

Friday, October 7, 2011

World facing worst financial crisis in history, Bank of England Governor says

World facing worst financial crisis in history, Bank of England Governor says
Telegraph.co.uk
By James Kirkup Sir Mervyn King was speaking after the decision by the Bank's Monetary Policy Committee to put £75billion of newly created money into the economy in a desperate effort to stave off a new credit crisis and a UK recession. ...
ECB buys governments time on banks as Greek default risk looms
Los Angeles Times
The ECB used the same measures during the global financial crisis to avert a credit crunch. The 2.5 trillion-euro market for covered bonds -- assets backed by mortgages or public-sector loans -- underpins much of Europe's real estate lending, ...
Global Financial Crisis: Dexia bailout a sign of things to come?
Wyatt Investment Research
In the latest sign of the global financial crisis, the "too big to fail" mentality American banks made popular two years ago has officially migrated to Europe. Dexia, the French-Belgian banking giant, has done what was once thought impossible: It ...
Save the euro – let Greece default
Financial Times
Only then could Greece be allowed to default. As things turned out, the dynamics could not have been more different. The failure to deal with Greece has weakened the rest of the eurozone, seen contagion spread as far as Italy and exposed the fragility ...
Default Talk, New Austerity Hurts Greek Economic Confidence
BusinessWeek
By Maria Petrakis Oct. 6 (Bloomberg) -- Greek economic confidence declined in September as the government announced additional cuts to pensions and wages amid heightened concerns the country would default. An index measuring short-term confidence among ...
Downgrade Doubles Default Gap to New Zealand: Australia Credit
BusinessWeek
Credit-default swaps insuring Australian bonds for five years traded at 100.5 basis points on Oct. 5, 23 basis points less than the price to guard against a default by New Zealand, according to CMA. The gap is the widest since July 2009 and compares ...
China's Default Risk Rises Exponentially
Seeking Alpha
As we focus intensely on the European debt crisis and the never ending rise of credit default swaps – also known as CDS – other countries tend to slip under the radar, although most people are aware that all is not well, no matter where one looks. ...
Default may hit Thai growth
Bangkok Post
A third scenario would be a disorderly default in the fourth quarter, potentially leading to acontagion effect on Spain and Italy. The European Central Bank would likely move to purchase up to 1.6 trillion worth of bonds issued by European banks to ...
IMF gaffe highlights real contagion: too many voices
Globe and Mail
Miscommunication is one area where contagion is obvious. Mr. Borges' gaffe will add to the debt crisis's official brouhaha, leaving markets even more puzzled about the never-ending string of blunders by those who are supposed to know what they are ...
False Default Signal With Swaps Most Since January: Muni Credit
San Francisco Chronicle
Oct. 6 (Bloomberg) -- The cost of protecting municipal debt against default is at the highest level since January even as past warning signals from derivative contracts proved unfounded. Protection on $10 million of securities for 10 years cost as much ...
False Default Signal With Swaps Most Since January: Muni Credit
BusinessWeek
By Michelle Kaske and Andrea Riquier Oct. 6 (Bloomberg) -- The cost of protecting municipal debt against default is at the highest level since January even as past warning signals from derivative contracts proved unfounded. Protection on $10 million of ...
No threat of Czech financial crisis says FinMin
Czech Position
Nevertheless, he claimed the Czech Republic does not face a financial crisis. “We are certain about the current situation, and I dare to say that the Czech Republic is not threatened by a financial crisis,” Kalousek said. At the same time, ...
Containing the Eurozone Crisis
Council on Foreign Relations
Once you have that, you should be able to go quite a long way to contain any contagion from Greece so that a default in Greece or a restructuring doesn't spill over to Italy or through the European banking system. There are certainly a number of things...
Corporate default tally rises by three to 32: S&P
MarketWatch
By Drew FitzGerald Standard & Poor's 2011 corporate default tally rose to 32 this week after three US-based companies joined the list. Real Mex Restaurants Inc. defaulted for the second time this year, filing for Chapter 11 bankruptcy protection. ...
Financial crisis sours mood on Wall Street
Monsters and Critics.com
But the US government - itself deeply in debt and weakened by the financial crisis - is now less likely to come to its rescue, Moody's said. Even if major banks do not collapse, many of their employees are worried about their jobs. ...
Pay the Mortgage or Default? It's Becoming a Game of Musical Chairs
Huffington Post
In 2008, walking away from a severely underwater home was the ideal financial choice, in hindsight. In 2012 it may not be, because banks are starting to knock down the principal in some cases. This is about the leading trends. ...
Greece default factored in: MLC
InvestorDaily
By Vishal Teckchandani The impact of a default by debt-laden Greece has been largely factored into the market, according to wealth management firm MLC. MLC said in an investor update that while it was hard to determine what the effect of a Greek ...
Spain raises $6 bln in debt auction as investors show good appetite despite ...
Washington Post
By AP, MADRID — Spain has raised €4.5 billion ($6 billion) in an auction of debt maturing between 2014 and 2015 and at substantially lower cost, showing healthy investor appetite despite growing fears of a Greek default. The amount sold in Thursday's ...
Michael D will be our next President by default rather than acclamation
Irish Examiner
We disavow contagion of violence. Partitionism is subliminal, but deep-rooted. They rant against the Brits, yet couldn't survive without UK state subvention. David Norris's campaign is in trouble. Erstwhile supporters now claim their efforts were ...
Rating Firms' Asset Game
Wall Street Journal
Before the financial crisis, the use of dummy assets was widespread as investment banks raced to create CDOs and other mortgage-linked bonds to meet demand from investors eager to profit from the housing boom. Bankers sometimes sought ratings from S&P, ...
Global financial crisis brings operators and investors closer together
Property Magazine International
The conclusions reached were that even though from a tourism growth perspective, Africa is one of the fastest growing region in the world, the appetite for risk in hotel assets was still soft and the Global Financial Crisis had the effect of moving the ...
National Context: History of Municipal Financial Crisis and Policy
Michigan Policy Network (blog)
Throughout the 1930s, thousands of cities and towns across the country went into default and came to rely on state aid to function.(2) The first municipal bankruptcy laws on the federal level came about during this time seeking to allow desperate ...
Irish Debt: Is it in Ireland's Interest to Default?
NASDAQ
Markets rallied around the rumor that Greece would be allowed a "ring fenced" default. This is a surprising reaction given that the "political elite" spent months warning any default would bring unforgiving and widespread consequences to the financial ...
TELEGRAPH: Financial Crisis Is Worst The World Has Ever Faced
By Gus Lubin
The terrifying quote in the headline comes from BOE's Mervyn King. telegraph. Please follow Clusterstock on Twitter and Facebook. Follow Gus Lubin on Twitter. Ask Gus A Question >. Tags:Financial Crisis | Get Alerts for these topics » ...
Business Insider
ADF Alliance Alert » World facing worst financial crisis in history ...
By ADF Alliance Alert
World facing worst financial crisis in history, Bank of England Governor says. Telegraph: The world is facing the worst financial crisis since at least the 1930s “if not ever”, the Governor of the Bank of England said last night. Published Thursday ...
ADF Alliance Alert
Malaysia's fiscal policy and the looming financial crisis | East Asia ...
By Shankaran Nambiar
Author: Shankaran Nambiar, Manipal International University, Malaysia As the US loses its AAA rating, and Japan takes a slide to AA-, can the Malaysian.
East Asia Forum
Bogleheads :: View topic - The Amish largely untouched by U.S. ...
Quote: The Amish, with their horses and buggies and their "upside-down" values, were largely unaffected by the financial crisis, living contented lives and amassing cash. I sometimes think they may have the right idea. I have been so tanted ...
bogleheads.org: Bogleheads
Is Greece, on fire, signing its default warrant? | Crikey
By Karen Maley
Tens of thousands of Greek public servants, students and pensioners hit the streets overnight to protest against the government's latest austerity measures, as traders continued to bet that a Greekdefault was imminent. ... Close by, in the national parliament, Greek politicians were debating proposals to hold a referendum on the country's worsening fiscal crisis. The 24-hour strike halted trains and air traffic, closed schools and forced hospitals to run on emergency staff. Several scuffles...
Crikey » Politics
Self Ownership and the Financial Crisis | John Allison | Daily ...
Unwritten Stories and Uncertainty in Financial Crisis Featuring Charles ... Did a Lack of Consumer Protection Cause the Financial Crisis? Events March 16, 2010 ...
www.cato.org/multimedia/daily.../self-ownership-financial-cris...
Fears of Global Slowdown, 2008-Style “Contagion” Haunt Financial ...
Read 'Fears of Global Slowdown, 2008-Style “Contagion” Haunt Financial Markets' from our blog Daily Ticker on Yahoo! Finance. Picking up (or rather down) ...
finance.yahoo.com/.../fears-global-slowdown-2008-style-cont...

Merkel-Sarkozy Divided on Default Threat to Banks: Euro Credit
BusinessWeek
Europe should recapitalize banks to build a “financial firewall against contagion,” tackle Greek debt and then sort matters of governance, he said. “The question is what should Europe do about the euro zone, and if you answer that question then Greece ...
Geithner Cites Banks' Risk-Aversion as Threat to Economy
Wall Street Journal
By JEFFREY SPARSHOTT And TOM BARKLEY WASHINGTON—Treasury Secretary Timothy Geithner said Thursday that financial institutions in the US risk holding back the economy if they remain too cautious after the financial crisis. "If you look at the US ...
Bank Default Risk Declines in Europe on Recapitalization Wagers
BusinessWeek
By Michael Shanahan Oct. 6 (Bloomberg) -- Credit-default swaps insuring European bank debt fell to the lowest in five weeks on speculation policy makers will inject more capital into lenders so they can withstand government bond losses. ...

Euro Crisis - Google News

Fiscal Cliff - Google News

Economics, interest rates, house prices, inflation, Bank of England

Markets News - Global Financial Market News

Financial Crisis

Jeremy Warner - Finance and business comments

Ambrose Evans-Pritchard - Finance and business comments

Jeff Randall - Business and politics comments

New Normal News

Views under the Palm

johnyah