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

Friday, November 4, 2011

US Banks Guarantee More European Debt

US Banks Guarantee More European Debt
BusinessWeek
By Yalman Onaran As the European financial crisis worsened during the first half of 2011, US banks increased sales of insurance against credit losses to holders of Greek, Portuguese, Irish, Spanish, and Italian debt. Guarantees provided by US lenders ...
Europe Financial Crisis Deepens as Greek Government Teeters
BusinessWeek
“The most important aspect of our task over the next two days is to resolve the financial crisis here in Europe,” US President Barack Obama said between one-on-one meetings with Sarkozy and Merkel. Europe needs to “flesh out more of the details” of its ...
S&P Lifts Hovnanian From Selective Default After Debt Swap
Wall Street Journal
The upgrade comes a day after S&P joined peer firm Fitch Ratings in downgrading the home builder, saying its latest offer to exchange debt technically constitutes a form of default. Like most of its peers, Hovnanian is under pressure from a challenging ...
BNP Paribas And Contagion Risks: 22x Leverage And $22B In PIIGS Exposure
Forbes
A default by Greece would spark a domino effect, as BNP Paribas would have to go from writing down 60% of their peripheral exposure to 100%. As credit spreads widen in Italy, Spain, and the other PIIGS, further stress would be put on BNP Paribas' ...
Corporate, Sovereign Bond Risk Falls as Greek Referendum Fades
Bloomberg
By Abigail Moses - Thu Nov 03 16:26:12 GMT 2011 Credit-default swaps on corporate and sovereign bonds fell after Greek Prime Minister George Papandreou backed away from a referendum on the terms of the country's bailout package. ...
Gandy Says Italy Contagion Is 'Real Worry' for Markets
Washington Post
3 (Bloomberg) -- Bridget Gandy, co-head of the EMEA financial institutions group at Fitch Ratings, talks about the Greek debt crisis and threat of contagion. She speaks with Francine Lacqua on Bloomberg Television's "The Pulse. ...
Detroit council members vow to solve fiscal crisis without emergency manager
The Detroit News
Detroit — City Council members today vowed to do what it takes to solve the city's financial crisiswithout having to resort to the intervention of an emergency manager. All nine council members appeared in the 13th floor auditorium at City Hall this ...
Manulife bets on credit default swaps
Financial Post (blog)
TORONTO — Credit default swaps may have fallen out of favour in the financial crisis but Manulife Financial Corp. has decided the time is right to use the controversial investments as part of a strategy to gain exposure to corporate bonds. ...
How the global financial crisis has hit Uganda
BBC News
Uganda's authorities are trying to take measures they hope will mitigate the effects of the global financial crisis. The new Finance Minister, Maria Chiwanuka, says: "It's very uncertain out there. We can't control what happens in Europe or China or ...
MF Global's PIIGS Problem
U.S. News & World Report (blog)
Apart from the alleged $700 million in missing money and illegal activity, MF Global's core investment problem was its gun-slinging investment approach towards the sovereign debt of Portugal, Ireland, Italy, Greece, and Spain (better known as PIIGS). ...
European Central Bank cuts interest rates as contagion fears grow
The Guardian
The rate cut took place amid signs that contagion from the Greek political turmoil is gaining strength. At one point Italy's borrowing costs reached an alarming new high of 6.4%. They later edged back to 6.17% amid signs that the ECB was once again ...
Greek financial crisis back in crisis-mode
89.3 KPCC
Leaders of the G20 are meeting in Cannes today under more pressure than anticipated. The rescue plan for Greece is in jeopardy since its prime minister, George Papandreou, announced he would hold a referendum on the deal. He said the painful austerity ...
Greece Faces 'Real Danger' of Disorderly Default, Soros Says
BusinessWeek
3 (Bloomberg) -- Greece faces the “real danger” of a disorderly default, which raises the specter of a run on banks in other countries, billionaire investor George Soros said. Any Greek debt reduction “must be done in an orderly manner” and authorities ...
Ringgit Slides for a Fourth Day on Greece Debt Default Concern
BusinessWeek
3 (Bloomberg) -- Malaysia's ringgit dropped for a fourth day, its longest losing streak in a month, as concern Greece will default prompts investors to favor the relative safety of the dollar and deters risk-taking. Currencies fell across Asia's ...
Default Rate Still Low, Just a Bit Higher Now - S&P
Barron's (blog)
By Michael Aneiro The default rate – that nemesis of bond investors – crept slightly higher in October, to 2.13% from 1.94% in September, according to rating agency Standard & Poor's. The gauge measures the percentage of speculative-grade corporate ...
Schools' Financial Crisis: Audio and Visual
Voice of San Diego
My colleague Andrew Donohue and I have also appeared on local television and radio shows to discuss the fiscal crisis at city schools. And Donohue filmed a television segment with our media partners NBC San Diego to help quickly explain what a road to ...
Rogoff Tells BBC That Greece May Default 'Hugely,' May Exit Euro
Bloomberg
By Fergal O'Brien - Thu Nov 03 08:33:26 GMT 2011 Harvard University economist Kenneth Rogoff said Greece will probably default “hugely,” and it's not unthinkable that the country will leave the euro area. “Countries have defaulted many, many times in ...
Oil prices leap on Greek financial crisis hopes
NEWS.com.au
Mr Papandreou - facing a confidence vote in parliament Friday - said on Thursday he was prepared to drop plans for the referendum, easing fears of a Greek debt default that could rip through the eurozone. Market sentiment was also lifted by an ...
Ireland to shut Vatican embassy in financial crisis cost overhaul
Reuters Blogs (blog)
Ireland will close its embassy to the Vatican, one of the Catholic country's oldest missions, as part of a cost-cutting programme prompted by the country's EU-IMF bailout. Relations between the Irish government and the Vatican, once traditional allies,...
Lira Depreciates on Rising Inflation, Greek Default Concern
BusinessWeek
Led by Germany and France, Europe cut off financial aid for Greece yesterday, until the vote determines whether it deserves a fresh batch of loans needed to stave off default. “The reason why we have fallen to this level is Greece news,” said Emir ...
Greek default imminent, economist says
Washington University in St. Louis News
While events continue to evolve and change rapidly, Greece is likely to default on its entire debt, says an economist at Washington University in St. Louis. “I think Greece is likely to return to a much devalued drachma that will make its export and ...
IFR-Issuers flood corp bond market with $12.5 bln worth of deals
London South East
US credit default swap column........ US credit default swap news.......... European corporate bond market report.. European corporate bond market report.. Credit default swap guide.............. Fixed income guide..................... US swap spreads ...
'Greece will default by March'
Independent Online
At a press briefing in Johannesburg this week, Vayenas said that “trigger points” for adefault were coming up “in the weeks and months ahead”. Sovereign defaults are not uncommon. But the risks of contagion are growing in an interconnected world and ...
UAE near immune to financial crisis, says Al Habtoor
ArabianBusiness.com
With all respect for Mr. Al Habtoor but why are so many people eager to 'state the obvious' - the 'obvious' here being that UAE is immune to "financial crisis" when it is so painfully obvious that UAE is NOT immune to global financial trends. ...
Will Greece 50% Debt Default Plan Fix the Euro-zone? :: The Market ...
Will Greece 50% Debt Default Plan Fix the Euro-zone? :: The Market ... Global Depression, Sovereign Default and Hyperinflation Are Top “Extreme Risks” Today - 1st Nov 11 ... European Debt Crisis Contagion Turns Positive, Will it Last? ...
The Market Oracle
Austrian FinMin Warns About Greek Default Domino Effect | Greek ...
By Stella Tsolakidou
According to Dow Jones News Agency, Austrian Finance Minister Maria Fekter said Thursday in a statement on the Austrian Finance Ministry's website that a Greek.
Greek Reporter Europe
G-20 Summit Begins with Greek Default Looming - World News ...
By Jeanette Torres
World News and Headlines From ABC News Radio.
World News - ABC News Radio
Financial crisis: Eurocrats are terrified of democracy
By Bonfire of the Absurdities
Euro debt crisis: Eurocrats are terrified of democracy. The EU technocrats are ticked at Greek PM Papandreou for daring to offer his country's voters a choice. The voters may not always make the wise choice but is there any guarantee.
I Hate the Media Article Feed
Greece's Overdue Default - BernardGoldberg.com
By Dalibor Rohac
Greece's Overdue Default. Posted: November 3, 2011 in Daily Briefing. Greek prime minister George Papandreou's announcement that the country will hold a referendum on the European rescue deal came as an unpleasant surprise to many. ...
BernardGoldberg.com
Fact check: Almond did say Local 1033′s 'pension is in default ...
By Ted Nesi
As a matter of fact, their pension is in default and subject to a federal intervention, of which the town has stepped up, opened that contract, and we are trying to help them into a recovery plan. Those employees lost – had a 50% reduction going ...
WPRI.com Blogs
Is the United States the Rising Phoenix of the Financial Crisis ...
By Len Costa
Although Dumas' views on future economic growth are anything but mainstream, he agrees with many economists who believe that the credit crisis was caused by a massive global imbalance triggered by Western economies spending too ...
Fourth Annual European Investment...
Gold Spikes Above Resistance at $1750 – Higher in All Currencies ...
By admin
gold has spiked higher in all currencies in recent minutes and has recovered from lows seen in late Asian, early European trading. gold continues to consolidate.
Bear Market Investments
Financial crisis forces Berlusconi to delay release of latest love song ...
Rolling economic storm clouds scupper the publishing date of the Italian prime minister's "True Love" album.
www.guardian.co.uk/.../financial-crisis-berlusconi-love-song
Greece's Overdue Default - Dalibor Rohac - National Review Online
Dalibor Rohac writes on NRO: Greek prime minister George Papandreou's announcement that the country will hold a referendum on the European rescue deal ...
www.nationalreview.com/.../greece-s-overdue-default-dalibor-...

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