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

Wednesday, November 30, 2011

Eurocontagion: Europe Has Three Choices

European Financial Crisis - Europe Has Three Choices, Including ...
3) A "middle ground" in which a "smaller but stronger euro zone" emerges where as many as three countries default on their debt and exit the EU. "We are no longer looking at what we call a traditional bell curve where there is one dominant ...
CNBC Top News and Analysis
CNBC's Jim Cramer Explains How the European Credit Crisis ...
By Brian
CNBC's Jim Cramer Explains How the European Credit Crisis Impacts the U.S.: We are at “DEFCON 3 – Two Stages from a Financial Crisis So Huge it's Hard to Get Your Mind Around” – Video 11/28/11. PART 1 ...
Freedom's Lighthouse
UPDATE 2-Brazil's Lupatech shares dive on default concern | Reuters
Default worries grow on restructuring amid market gloom* Investors see capitalization diluting stock value* Shares down 26 percent to record low, bond yields ...
www.reuters.com/.../11/.../lupatech-idUSN1E7AN14N201111...
The global financial crisis and developing countries: which countries ...
The global financial crisis is already causing a .... concerned more about the financial crisis than recent ... First, there could be financial contagion and spillovers ...
www.odi.org.uk/resources/docs/3339.pdf
AMR pension default would set record, if sought
Baltimore Sun
WASHINGTON (Reuters) - A full pension plan default by bankrupt American Airlines would be the largest in US history if it occurred today with those accounts running $10 billion short of what the carrier owes its workers over many years, ...
Is the Financial Crisis a Male Syndrome?
BusinessWeek
By Michel-Henry Bouchet and Robert Isaak The protracted global financial crisis has led to a wide-ranging search for culprits, including blind regulators, greedy speculators, Chinese dumping, and a global market economy that lacks both a social and ...
Hedge funds fear Italy, Spain default: survey
Reuters
LONDON (Reuters) - Almost half of hedge fund managers believe Italy and Spain, two major countries at the center of the euro zone debt crisis, are likely to default, a survey published on Tuesday showed. A majority of the managers surveyed, ...
Bank Credit-Default Swaps Little Changed After Rising to Record
BusinessWeek
29 (Bloomberg) -- The cost of insuring against default on the junior debt of European financial institutions was little changed after earlier rising to an all-time high, according to traders of credit-default swaps. The Markit iTraxx Financial Index of ...
UAE immune to Eurozone contagion
gulfnews.com
Dubai: UAE Central Bank Governor Sultan Bin Nasser Al Suwaidi has ruled out any knock-on effects of the Eurozone financial crisis on the UAE economy. "European leaders and the European Central Bank have not asked the UAE for financial aid to solve the ...
Putting PIIGS Debt Into Context
Seeking Alpha
It would be extremely disruptive, to be sure, but it's highly likely that at least 95% of those working today would be working and producing in the days, weeks, and months following even a multi-trillion dollar PIIGS default. A big PIIGS default ...
Prada defies financial crisis, sales up thanks to Asia
AFP
The Italian group, which includes the Prada, Miu Miu, Church's and Car Shoe brands, is enjoying a boom despite the global financial crisis thanks to the huge Asian market, the world's fastest-growing market for luxury goods. ...
Euro Euphoria Derailed By Fears Of Contagion, Sterling To Consolidate
DailyFX
As the heightening risk for contagion dampens the fundamental outlook for the euro-area, investors see increased pressures on the ECB to ramp up its asset purchases, and the central bank may have little choice but to further expand its temporary ...
Swaption Surge Signals Euro Contagion in Yen Debt: Japan Credit
San Francisco Chronicle
Nov. 29 (Bloomberg) -- Options traders are the most bearish on Japanese bonds in seven months, signaling concern that Europe's debt crisis may spread to a market that's been insulated by currency gains and a trade surplus. So-called swaptions linked to ...
Indian groups risk default on dollar debt
Financial Times
All have said there is no risk of default but they did not specify how they would deal with the rising cost of their debt. It is unclear to what level they have hedged their exposure to the dollar. However, analysts fear that some companies that had ...
Britain to brace for devastating financial crisis, Bank of England warned
Tehran Times
Sir Mervyn King told MPs there was no doubt the banking system was 'less safe' than three months ago and might not be strong enough to withstand a eurozone meltdown. He spoke out amid fresh warnings that the UK is set to plunge into a double dip ...
In Britain, European financial crisis is an opportunity for gamblers
Washington Post
LONDON — The future of the European single currency is uncertain — but at least you can bet on it. In Britain, where gamblers can bet on everything from rugby matches to the gender of future royal babies, the eurozone crisis has generated a steady ...
Commercial Real Estate Default Rate Down 3.75% In Q3
Mortgageorb
by MortgageOrb.com on Tuesday 29 November 2011 The combined default rate on banks' commercial and multifamily mortgage loans fell to 3.75% in the third quarter, down 19 basis points (bps) from the previous quarter's 3.94% default rate and down 67 bps ...
Postal workers protest as default date nears
KATU
The Postal Service, founded in 1775, may go into default on Dec. 16 unless the government intervenes in some way. Postal Service officials say the operation is in debt $5 to $10 billion, depending on how the numbers are crunched. ...
Questions over CDS amid pay-out wrangle
Financial Times
By Lisa Pollack, Robin Wigglesworth and David Oakley Since their creation in the 1990s, credit default swaps, a form of insurance against defaults of loans and bonds, have emerged as a vital component of the global financial system, with about $28000bn ...
Former Housing Authority Director Slams Town Council For Handling Of Agency's ...
Hartford Courant
By MELISSA TRAYNOR, mtraynor@courant.com The Hartford Courant In a letter sharply critical of the town council for its handling of the East Hartford Housing Authority's recent financial crisis, the former executive director calls for a larger ...
Germany set to overtake Italy in CDS protection
Financial Times
By Tracy Alloway and David Oakley Germany is on course to overtake Italy and France as the most insured sovereign in the global credit default swap market, where investors buy protection against default, analysts say. “The fact that net notional CDS ...
Avoid new tax paperwork for your investments at your own peril
Reuters
Let's say, for example, that you purchased 1000 shares of JPMorgan Chase stock, in the wake of thefinancial crisis in early 2009, at $16 a share, and subsequently bought another 1000 shares at $40. If you sold 1000 shares at a recent price of $29, ...
Better Add An “F” to Europe's Debt Contagion
Wall Street Daily
But the problems for the eurozone may no longer be confined to just the PIIGS (Portugal, Ireland, Italy, Greece and Spain). Instead, we may want to add an “F” to that acronym… for France – arguably the biggest threat to the European Union in the long ...
Kamakura Announces Comprehensive Capital Analysis and Review Stress Test ...
MarketWatch (press release)
The firm's enterprise wide risk management system Kamakura Risk Manager and the comprehensive suite of default models offered by Kamakura Risk Information Services will be employed to produce the required stress tests and projections of CCAR 2012. ...
Veolia Environnement 5-year Credit Default Swap drops 21.2 basis points ...
Waste Management World
Veolia Environnement 5-year Credit Default Swap (VIE.FR) dropped 21.2 basis points (or 6.7%) to close at 294.82 basis points. A decrease in spread is a bullish signal. The change in insurance premium against default on a 5-year $10 million worth of ...
BC-EU--Europe-Financial Crisis-Betting,0133
WEAR
WASHINGTON (AP) -- US home prices are falling again in most major cities after posting small gains over in the summer and spring, the latest evidence that the troubled housing market won't recover any time soon. ... the enthusiasm for buying stuff over ...
Europe's Credit Crisis is China's Trading Problem
Daily Reckoning - Australian Edition
BHP's Marius Kloppers and Rio Tinto's Tom Albanese both warned yesterday that Europe's credit crisis could impact them, albeit indirectly. It's not so much final demand they're worried about. Europe isn't a huge customer of raw commodities. ...
Calafia Beach Pundit: Putting PIIGS debt into context
By Scott Grannis
It would be extremely disruptive, to be sure, but it's highly likely that at least 95% of those working today would be working and producing in the days, weeks, and months following even a multi-trillion dollar PIIGS default. A big PIIGS default ...
Calafia Beach Pundit
XE.com - Hedge funds fear Italy, Spain default - survey
Almost half of hedge fund managers believe Italy and Spain, two major countries at the centre of the euro zone debt crisis, are likely to default, a survey published on Tuesday showed.
XE Forex News
Why Eurozone's Fiscal Crisis Should Concern You | Fellowship of ...
By Dr. Eowyn
More than a month ago, on September 21, 2011, just when European banks and their regulators were trying to reassure investors and customers that lenders have enough capital to withstand a default by Greece and slowing economic growth ...
Fellowship of the Minds
Postal workers protest as December default date nears | Business ...
The Postal Service may go into default on Dec. 16 unless the government intervenes in some way. Postal Service officials say the operation is in debt $5 billion.
KVAL - News - Business
Valuation approaches and the financial crisis. Part 1 – market ...
By Anthony Charlton
A second difficulty is that historical transaction values may not reflect current values and, as we know, market sentiment can change quickly. The M&A market in spring 2007 (i.e. prior to the onset of the financial crisis) was completely different to ...
Kluwer Arbitration Blog
MUST LISTEN: Eric Sprott Financial Crisis Worse Than 2008, and ...
By Stefan B
MUST LISTEN: Eric Sprott Financial Crisis Worse Than 2008, and More… King World News released the audio of their interview with Eric Sprott: Chairman, CEO & Portfolio Manager of Sprott Asset Management. Eric has over 40 years of ...
SGTreport.com
Contagion Spreading Fast! No More Time To Wait! (EWI, EWP, IEV ...
By Wall Street Sector Selector Staff
The global contagion is spreading so quickly, it could strike the United States before yearend. ... of all, Spain has simply run out of time. Its death spiral is under way; its plunge into default, virtually unavoidable. Here are the horrifying facts … .... All these debts, lies and failures are what inevitably lead to the contagion that we've already seen strike the PIIGS countries — Portugal, Ireland, Italy, Greece and Spain … and that is now on the near horizon for the United States. Still skeptical? ...
Wall Street Sector Selector
Euro Euphoria Derailed By Fears Of Contagion, Sterling To ...
By admin
The Euro fell back from an overnight high of 1.3441 as heightening financing costs instilled a weakened outlook for the region, and the single currency remains.
Bear Market Investments

Tuesday, November 29, 2011

OECD Warns of Europe Contagion

OECD Warns of Europe Contagion
Wall Street Journal
"Trade was the driver of economic growth after the 2008 financial crisis, but now we're seeing risks of protectionism." The OECD said developing economies will continue to make a "substantial" contribution to global economic growth. ...
Global contagion
Asia Times Online
The global credit crisis took giant leaps forward this week. With even the euro region's depleted "core" succumbing, crisis dynamics are now anything but isolated to "periphery" markets and economies. German yields rose after Tuesday's "disastrous" ...
European debt crisis putting credit default swaps in harsh light
Pensions & Investments
16, the ratings agency noted that “US banks could be greatly affected if contagioncontinues to spread beyond the stressed European markets.” “While US banks have hedged part of their European exposures through the credit default swap market, ...
Fitch affirms low-default risk on Union Bank
Business Standard
PTI / New Delhi November 28, 2011, 21:31 IST Credit ratings agency Fitch has affirmed that Union Bank of India continues to have low-default risk as it has the support from the government. "Fitch Ratings has affirmed Union Bank of India's national ...
Financial crisis no excuse for climate inaction
Xinhua
28 (Xinhua) -- Policy-makers in advanced economies from Brussels to Washington are preoccupied with fighting a protracted and devastating financial crisis, but economic hardship should be no excuse for inaction on climate change. ...
Barack Obama is an irrelevance when it comes to the European financial crisis
Telegraph.co.uk (blog)
With Europe facing its biggest financial crisis since the 1930s, today might be another moment when a US president could stand with European allies while projecting American strength and leadership at a time of great fear and uncertainty. ...
Europe Bank Debt Lures Funds at 26% Default Odds: Credit Markets
San Francisco Chronicle
Yields on subordinated bank debt have surged this year to 11.2 percent, almost triple the rate on senior bonds, while the derivatives market shows traders expect a 26 percent chance of default for the bonds. "The market is very close to pricing in a ...
Detroit Council's financial crisis plan includes 500 public safety layoffs, $1 ...
MLive.com
During a rare public address earlier this month, Bing outlined his own plan to resolve the city's fiscal crisis, telling residents that Detroit is saddled with at least a $150 million deficit and is poised to run out of cash by April. ...
Before you consider 'strategic default'
El Paso Inc.
You may have read articles or seen posters or other advertisements that encouraged strategicdefault. So what exactly is strategic default, and is it something that you should consider? Strategic default is choosing to let your house go into ...
Enough About Europe: Dissecting PIIGS And Their Dependency On The U.S.
Seeking Alpha
According to CIA World Factbook, Spain's budget deficit has made it vulnerable to financial contagion from other highly indebted eurozone members despite its efforts to cut spending, privatize industries and boost competitiveness through reforms. ...
Bank of Israel Cuts Rate Again as It Warns of Europe Contagion
BusinessWeek
By Alisa Odenheimer Nov. 29 (Bloomberg) -- The Bank of Israel cut its benchmark interest rate for the second time in three months as it warned that the European debt crisis is “becoming more severe and is spreading.” The monetary policy committee ...
HR Options to Start on December 11th & the European Credit Crisis
Steel Market Update (blog)
The European Credit Crisis is like a like a train wreck, the train applied it brakes a long time ago but it takes the train 3 miles to stop once the brakes are applied, and so we get to see this train wreck in slow motion. We know what the carnage will ...
291 firms default PF dues of Rs 1838 crore
Economic Times
Delhi topped the chart with maximum default of Rs 604.87 crore followed by West Bengal at Rs 207.55 crore and Maharashtra at Rs 201.38 crore, Kharge said. The maximum number of suchdefault cases were reported in Maharashtra at 56 followed by 54 in ...
European Debt Crisis Poses "Grave Threat" Of "Contagion" To US "Recovery"
Gothamist
(AP/Peter Dejong) The financial crisis in Europe has "entered a potentially disastrous phase," the New Yorker reports, with "dire consequences" predicted for the entire world—even America!—if the European governments don't take swift action. ...
RBC's Schaffrik Sees 'Small' Chance of Italian Default
Washington Post
Nov. 28 (Bloomberg) -- Peter Schaffrik, head of European rates strategy at RBC Capital Markets, talks about the outlook for the Italian economy. He speaks with Francine Lacqua on Bloomberg Television's "Countdown." (Source: Bloomberg) (/Bloomberg) ...
Rob Portman: The Dual Challenges Of The Fiscal Crisis And The Economic Slump
AEIvideos
Rob Portman: The Dual Challenges Of The Fiscal Crisis And The Economic Slump.
Cemex Advances Most in Month on Easing Default Concerns
BusinessWeek
By Jonathan J. Levin Nov. 28 (Bloomberg) -- Cemex SAB, the largest cement maker in the Americas, surged the most in a month on speculation the company will be able to meet the terms of a $15 billion loan. The shares jumped 13.9 percent to 5.73 pesos in ...
The Corporate Psychopaths Theory of the Global Financial Crisis
Death and Taxes
By DJ Pangburn Monday, November 28, 2011 A peer-reviewed paper is set to appear in the Journal of Business ethics which proposes the theory that psychopaths on Wall Street have had a critical role in the global financial crisis. ...
Mariah Re 'Cat' Bonds Set To Default
NASDAQ
Now, after a particularly deadly tornado season, the Mariah Re bonds are set to default in the first year of their three-year term. They will hit investors with a $100 million loss on Dec. 31--the next scheduled payment on the bonds, S&P said. ...
Wenatchee bond repayment legislation is no bailout
HeraldNet
Without this intervention, these bonds will default this Thursday and have potentially crippling financial effects across the state. In 2008, the Greater Wenatchee Events Center Public Facilities District (PFD), made up of Wenatchee and eight other ...
Forgive us our student loan debt
Washington Post (blog)
Unveiled just before Thanksgiving, a national Occupy Student Debt campaign kicked off, asking borrowers to sign a debtors pledge to default on their loans after one million individuals have also pledged to default. Default is not debt forgiveness. ...
Greece Headed For Involuntary Default
Forex Pros
Signs that Greece is pushing bondholders for a harsher haircut point to the likelihood that creditdefault swaps will eventually be triggered. The euro continued falling on Friday while USD was the top performer. We take a look at the weekly charts, ...
Educating Children About Finances Could Have Lessened the Current Financial Crisis
Technorati
This advice might seem obvious, but Bair suggests that some simple education concerning the math of money could have lessened our current financial crisis. Think about it: more than half of American families experienced decreased wealth from 2007 to ...
Financial crisis biting: Swazi students stranded in Botswana
The Swazi Observer
A number of projects were suspended in light of the financial crisis. PS Evart Madlopha had stated earlier that government was facing challenges paying for the students because it had no money. NINETEEN students who were supposed to study technical ...
Debt crisis: CDS market loses its appeal after Greek 'haircut'
The Guardian (blog)
They say the interests of all key institutions are preserved by avoiding a fully fledged, recognised default. Countries avoid contagion and banks that sold CDSs avoid insurance claims from other lenders for some of their money back. ...
Gwyn: Canada not immune from European contagion
Toronto Star
Bank of Canada Governor Mark Carney: "At this point, the crisis appears barely containable." (Nov. 23, 2011) By Richard Gwyn Columnist For a great many Canadians today, life has become a bumpy ride. A sickly stock market has shrunk the value of your ...
2011 Bonus Payouts Will Be Lowest Since 2008 Financial Crisis
Here Is The City
The Wall Street Journal reports that, according to a widely watched survey published Monday, this year's Wall Street bonus payouts are likely to be at their lowest levels since the 2008 financial crisis. According to research undertaken by global ...
Credit agencies lack credibility after role in crisis: survey
Globe and Mail
Rating companies came under fire during the credit crisis three years ago for their role in assigning top grades to financial products that were based on low-quality US mortgages with a high risk of default. Banks and mortgage companies faced massive...
The Euro Is Past the Point of Saving
The Atlantic
The poorer PIIGS (an acronym that stands for the peripheral countries Portugal, Ireland, Italy, Greece, and Spain) wanted to share a currency with Germany so that they could borrow money at affordable rates. Germany wanted a euro, too, because if its ...
Pearl Harbor Caused the Financial Crisis of 2008 by James Altucher
When the Japanese invaded Pearl Harbor, provoking our massive WW II response, in a very direct way, it cause the financial crisis of 2008, my divorce, my potential poverty, and most other problems in my life. ... And then another flurry of articles (and that's what they are – a flurry – the first taste of snow in a new season of blame, anger, finger-pointing, she said-he said, we're broke, they're rich, world is over, contagion, storms that are hitting both coasts and will begin to move inwards.) ...
LewRockwell.com
Barney Frank – Politician Behind Financial Crisis – Will Not Seek Re ...
By Jim Hoft
I have to wonder what role the 2008 financial crisis played in the ongoing European crisis. 2008 pulled the plug on leveraged financing, which is still the keystone of the impending Euro banking collapse. 2008 was the result of Democrats ...
The Gateway Pundit
ECB Passes €200 Billion In Cumulative PIIGS Bonds Purchases ...
By Tyler Durden
For a bank that everyone is bashing for "doing nothing" the ECB sure continues not only to be active in the open market but monetize well more than the Fed: in the past week the ECB's SMP program announced it purchased €8.581 billion in ...
José Manuel González-Páramo: Sovereign contagion in Europe
two.4 While contagion has characterised the various stages during which the financial crisis has become more acute ... Greek credit default swap premiums to predict developments in other euro area countries'. 4. A previous account of this ...
Risk Knowledgebase
Prison Planet.com » ECB Passes €200 Billion In Cumulative PIIGS ...
By yihan
More importantly, since the resumption of the SMP program in August, the ECB has bought €131 billion in PIIGS bonds, or about $176 billion. This works out to just under $60 billion per month (and no, it is not sterilized when the sterilizing ...
Prison Planet.com
Spreading Eurozone Contagion | BobTuskin.com
By admin
You are here: Home / Spreading Eurozone Contagion. Subscribe to ... At issue is their guarantee for $1 trillion or more of European sovereign debt through credit default swaps – “insurance against which they have not reserved.” As a result ...
BobTuskin.com
Contagion spreading FAST! No more time to wait! — Money and ...
By Martin D. Weiss Ph.D.
Its death spiral is under way; its plunge into default, virtually unavoidable. Here are the horrifying facts … ... So you'd think that, after the 2008 financial crisis, U.S. banks would have learned their lesson. But you'd be wrong. According to the ... All these debts, lies and failures are what inevitably lead to the contagion that we've already seen strike the PIIGS countries — Portugal, Ireland, Italy, Greece and Spain … and that is now on the near horizon for the United States. Still skeptical? ...
Money and Markets
Fuel Fix » OECD warns of eurozone contagion risk
By FT.com - Energy
OECD warns of eurozone contagion risk. ... European leaders need to provide 'credible' firepower to stop the contagion in the eurozone or risk a severe recession, OECD warns. 3. |.
Global Aids fund faces financial crisis - News - Mail & Guardian Online
The Global Fund for Fight Aids, Tuberculosis and Malaria is in financial crisis, putting pressure on Southern African HIV programmes for treatment.
Mail & Guardian News Feed
Detroit City Council Continues Fiscal Crisis Talks
By The Huffington Post News Editors
The Detroit City Council continued discussions Monday on Mayor Bing's proposals to address the city's financial crisis. ... Detroit City Council Continues Fiscal Crisis Talks. The Huffington Post First Posted: 11/28/11 01:17 PM ET Updated: ...
The Huffington Post | Full News Feed
The Fire Next Time: The Euro Financial Crisis - Endgame? - Blog ...
By AZ BlueMeanie
Posted by AzBlueMeanie: While all the media villagers are breathlessly reporting a good "Black Friday" holiday sales weekend in the U.S., most media outlets are entirely ignoring the elephant in the room, the Euro Financial Crisis, which is ...
Blog For Arizona
For China, flush with cash, financial crisis may mean political ...
By Kyla Springer
Just last week, the New York Times reported, the IMF offered an additional short-term credit to “bystanders” - member nations feeling the “contagion" of regional and global default. One tool is a “precautionary and liquidity” credit line that would ...
Global Envision
Simon Johnson on the Financial Crisis | EconTalk | Library of ...
Simon Johnson of MIT and the author (with James Kwak) of 13 Bankers talks with EconTalk host Russ Roberts about the origins of the financial crisis and how ...
www.econtalk.org/archives/2011/11/simon_johnson_o.html

Monday, November 28, 2011

Time Runs Short for Europe to Resolve Debt Crisis

Time Runs Short for Europe to Resolve Debt Crisis
New York Times
A version of this article appeared in print on November 28, 2011, in The International Herald Tribune with the headline: Pressure Builds in Europe as Region's Core Becomes Engulfed in Financial Crisis.

Don't Delay Greek Default
Morningstar.com
The contagion cat is already out of the bag. However, just because the crisis has spread doesn't mean we should give up on trying to save the larger European economies. Italy, for example, has a much stronger economic base than Greece, and it would be ...
Russian economy not immune to capital risk contagion
Globe and Mail
So even if the oil price holds up – and that's a big “if” – Russia isn't immune to economic contagion. A floating oil platform is tugged from the harbour in Russia's northern port of Murmansk August.
Fed's Secrecy During Crisis Limits Effort to Stop Another: View
Bloomberg
... GMT 2011 Comments Opposites in many ways, the Tea Party movement and Occupy Wall Street have this in common: Both have channeled the public's not always well-informed anger over the behavior of banks and government during the financial crisis. ...
What Europeans Can Learn From South Koreans About Managing a Financial Crisis
Slate Magazine
On the other hand, if the ECB preferred to let major countries, such as Italy, default on their debts, this would likely weaken the euro even further, as investors feared a contagion of defaults. Depreciation would never be Eurozone officials' stated ...
Spreading Eurozone Contagion
OpEdNews
Credit default swaps on European sovereign debt and banks reached all-time highs. Earlier in the week French bonds were hammered. Europe's debt crisis moved from periphery countries to core ones. Many believe the Eurozone can't survive, except perhaps ...
Fitch backs reform call for sovereign CDS
Financial Times
By Michael Mackenzie in New York Calls to reform the market for insuring against the default of sovereign debt have been backed by a leading credit rating agency following the voluntary deal for exchanging Greek bonds proposed last month. ...
Mayor Thompson holds town hall meetings on financial crisis
abc27
The goal is keep people up-to-date on what's going on with the city's financial crisis. The next town hall meeting is Monday night from 6-8 at the Cross Church of God in Christ on South 16th Street.
Commodities: Now is a good time to load up on CARBS
Telegraph.co.uk
We've had BRICS, PIIGS, SPDRs and BASICs – but now we have another to add to the Square Mile's lexicon. The CARBS. Canada, Australia, Russia, Brazil and South Africa make up the new acronym to watch: CARBS. By Garry White The CARBS are the major ...
Ratings Deflation: Are We Facing A World Without AAA Bonds?
Seeking Alpha
But what is more interesting, given current circumstances, is whether the rating can be seen as an absolute measure of the probability of default or a relative one. If you check what agencies say, they will not give you a definite answer to this ...
Marran Ogilvie: How Lehman Brothers became odd man out
NewsOK.com
A look back at the institutions that were rescued in the depths of the 2008 financial crisis by federal intervention — and the one that was not. BY MARRAN OGILVIE Leave a comment When Bear Stearns collapsed during the 2008 financial crisis, ...
Finance Minister sounds concern on construction and real estate concentration
DI-VE
Talking on the financial crisis, the Minister said that we have to provide a national response to the changes taking place. “I take great comfort from the fact that the Malta Financial Services Authority has been very proactive in the face of ...
The Coming of an Economic Firestorm?
Seeking Alpha
The Euro banks are chuck full of sovereign debt (some will not be repaid) with the banking sector holding 89% of the PIIGS' direct exposure ($2.7 trillion). According to the BIS, the countries with the most total foreign claims to the PIIGS' debt were ...
Brazil and the Long Crisis
EconoMonitor (blog)
I imagine that the article may be about the collapse of the Euro, with Greece declaring that it willdefault on its debt, thus spreading contagion to other countries. Or the collapse of big European banks (or even US ones), which may go bankrupt under ...
Student loan defaults grow as tuition, expenses rise
GoDanRiver.com
In September, the US Department of Education reported the 2009 national student loan default rate rose to 8.8 percent, up from 7 percent in 2008. Locally the default rate for Averett University, a private school, was 8.3 percent (65 loans), ...
The Rising Fear in Bank Stock Prices
Wall Street Journal
There are emerging signs in the stock market that the US economy is about to face financial headwinds that may lead to another credit crisis and recession next year. The recent volatility in bank stocks is a signal that US banks, large and small, ...
Canada takes tougher line on bank deals
Financial Times
By Bernard Simon in Toronto Canada plans to tighten supervision of foreign acquisitions by banks and insurance companies as a result of heightened risks posed by the financial crisis. Under legislation tabled last week, the finance minister will be ...
Off the Beaten Track
Wall Street Journal
Bill Awad, a fixed-income portfolio manager at Babson Capital Management LLC, sees one such opportunity in credit-default swaps of Swedish government bonds. The swaps cost little because Sweden is perceived as insulated from Europe's malaise. ...
SOWELL: Super Committee just cover for Obama failure
The Daily News Journal
If you think the goal was to solve the country's fiscal crisis, then obviously the Super Committee was a complete failure. But, if you think the goal was to improve the chances of the Obama administration being re-elected in 2012, it was a complete ...
Europe Must Act to Prevent Debt-Crisis 'Train Wreck,' Swan Says
BusinessWeek
28 (Bloomberg) -- European Union leaders must act to stop the region's debt contagion becoming a “slow-motion train wreck” that is already crimping Australia's economy, Treasurer Wayne Swan said. EU politicians have been “frustratingly slow” in ...
Are Stocks Staring Into the Abyss?
The Market Oracle
We believe the financial crisis will hit the fan starting in 2012 which will eventually lead to a political union of several major European  nations, perhaps even a broader political union of western nations including Great Britain, the United States ...
Is Woodside On The Slide?
Wall Street Journal (blog)
By Gillian Tan If the markets are heading back to lows last seen during the global financial crisis, Woodside Petroleum is being touted by analysts as stock that could be amongst the first to reach the floor. Australia's ninth biggest stock by market ...
Our banks may feel their mortality if euro zone binge clogs up credit lines
Sydney Morning Herald
For Hugh McLernon, boss of litigation funder IMF, this is the true contagion. He argues that during the global financial crisis, governments worldwide (with the obvious exception of Australia) began eroding financial laws in relation to the requirement ...
Egypt financial crisis looming say analysts
Gulf Daily News
A financial crisis is looming, say analysts. "We're not far off," said Neil Shearing, chief emerging markets economist with Capital Economics. "There's enough money left in the coffers to get through the year, but not much beyond that. ...
Spreading Eurozone Contagion | Philadelphia Independent Media ...
Spreading Eurozone Contagion - by Stephen Lendman. The operative ... At issue is their guarantee for $1 trillion or more of European sovereign debt through credit default swaps - "insurance against which they have not reserved." As a result ...
Philadelphia Independent Media...
The coming Greek default and the Euro exit “surprise” @ Marginal ...
By MarginalEvolution
The coming Greek default and the Euro exit “surprise”. Posted on Sunday, 27 November, 2011. Why is there an ever widening dichotomy between Greek accelerated economic collapse and a Greek domestic political support for the austerity ...
Marginal Evolution
Businomics Blog: European Financial Crisis
By Bill Conerly
Two resources for understanding the European financial crisis: Barry Eichengreen lecturing about the European crisis (hat tip to Economist's View, runs 1 hour 28 minutes): Saturday Night Live also explains the crisis (a little lighter, a lot ...
Businomics Blog
The Question of Eurobonds—Posner - The Becker-Posner Blog
By Richard Posner
If they default it will probably alleviate their economic woes, because their sovereign debt will (in a total default) be wiped out. They may not even have to pay high interest rates to ... Instead they want to secure these debts by persuading or coercing the PIIGS to slash their government spending, so that their revenues, diminished by the worldwide depression though they are, will cover their debt service and thus stave off default. The PIIGS don't want to slash their spending, and for ...
The Becker-Posner Blog
The architects of the Euro hung by their own petard « Debtonation ...
By Ann
Debtonation: The Global Financial Crisis ... They can no longer rely on a publicly-backed central bank for borrowing; to help compensate for a slump, mitigate a private financial crisis or manage public finances. Furthermore, the rules of the Eurozone oblige these governments to borrow in what is effectively a foreign currency – or at least a currency over ... Greece would not be allowed to default, the treaties ensured that. And if sovereign governments were slow in paying, the stronger ...
Debtonation: The Global Financial Crisis
Eurozone looks to IMF as contagion spreads | Business | The ...
Eurozone looks to International Monetary Fund as contagion spreads .... Parsing this suggests to me that Greece is going into to default again and drop .... be able to rescue them - this will certainly apply to the PIIGS and there maybe others. ...
www.guardian.co.uk/business/.../eurozone-crisis-ecb-imf-bond...
Europe's Crisis Creating Global 'Contagion,' Flaherty Says ...
Canadian Finance Minister Jim Flaherty says Europe's debt crisis is creating “ contagion” outside the region and policy makers must act while the situation can ...
www.businessweek.com/.../europe-s-crisis-creating-global-con...
ECB: Sovereign contagion in Europe
I would like to start out by discussing why contagion needs to be addressed by ... stages during which the financial crisis has become more acute through the end ... in Greek credit default swap premiums to predict developments in other euro ...
www.ecb.int/press/key/date/2011/html/sp111125.en.html
European financial crisis: A growing gap between France and ...
European financial crisis: A growing gap between France and Germany ... Worst- case scenarios: What would happen if Greece, Spain or Italy were to default? ...
www.washingtonpost.com/.../gIQACrzbSN_story.html

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