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

Friday, December 2, 2011

China's Zhu Sees 'Grimmer' World Situation Than in 2008 Crisis

China's Zhu Sees 'Grimmer' World Situation Than in 2008 Crisis
BusinessWeek
1 (Bloomberg) -- Zhu Guangyao, a vice Chinese finance minister, said the world is in a “grimmer and more challenging” situation than during the global financial crisis that started in 2008. He spoke at an economic conference in Beijing today. ...

Is There Contagion Among Peripheral Eurozone Countries?
Seeking Alpha
In the past few days and weeks, discussion has picked up about the possibility of contagion in and emanating from the Peripheral eurozone (PE) countries; Portugal, Spain, Ireland, Italy, and Greece. By looking at the Thomson Reuters Indices for the ...
Detroit Fiscal Crisis: State Takeover Looms As City Council Meets With Unions
Huffington Post
Mayor Bing has called for 1000 layoffs and other drastic measures -- including privatizing city lighting and buses -- to avoid the appointment of an emergency financial manager. Check our live blog below for full coverage of Thursday's meeting. ...
S&P Speculative-Grade Default Rate Declines In November
Wall Street Journal
Standard & Poor's said its 12-month trailing speculative-grade corporate default rate declined in November, reversing the prior month's increase. The default rate fell to 1.96% last month from 2.06% in October. The ratings firm said the default rate is ...
Nicolas Sarkozy promises no eurozone member will default
Telegraph.co.uk
Nicolas Sarkozy pledged that no other eurozone country will be allowed to default in a passionate speech aimed at shoring up Europe's shattered markets. Admitting that France had "spent too much and often badly", Mr Sarkozy pledged an "immense ...
Secondary Sources: Contagion, Health-Care Jobs, Stress Tests
Wall Street Journal (blog)
By Phil Izzo –Contagion: Greg Ip says US banks have largely avoided contagion from Europe, thanks in large part to the Fed. ” This is partly because America's banks are reasonably healthy. They have significantly bolstered capital since 2008 and now ...
Contagion Catastrophe
National Journal
“The precipitating event for the global financial crisis and the Great Recession was the bankruptcy of a single, relatively small broker-dealer, Lehman Brothers. The bankruptcy of a nation as large as Italy would be many times more severe,” says Karl ...
Washington State Arena Nears Default as Bailout Bill Work Stalls
BusinessWeek
1 (Bloomberg) -- Default looms today on $41.8 million in bond-anticipation notes backing a money-losing regional arena in Washington, potentially harming other municipal issuers, according to state Treasurer James McIntire. ...
Default Recoveries Top Average in Latest Cycle, Moody's Says
BusinessWeek
The 2009-2010 default cycle was more severe than the previous two, Moody's said, because it was associated with the Great Recession, the credit crisis and the housing slump. The US speculative-grade default rate peaked at 14.6 percent in November 2009, ...
The Bank of England has urged British banks to shore up defences against the ...
The Australian
From: AP Bank of England governor Mervyn King has called on banks to build up their capital reserves to protect against the eurozone contagion. Source: Supplied THE Bank of England has urged British banks to build up their capital reserves, ...
Chile's central bank: contagion is here
Financial Times (blog)
Others believe signs of eurozone contagion in the form of worse-than-expected industrial output, on the back of rising inflation in November, may spark a 25-point cut this month. “Sooner or later,” De Gregorio says, Chile will feel the impact of the ...
Risk of Europe Contagion Becoming 'Very Real,' Nasution Says
BusinessWeek
Europe is seeing broad-based financial-market disruption and is undergoing a “true financial crisis,” Bank of France Governor Christian Noyer said in Singapore yesterday. The economic outlook in Europe and the rest of the world has “significantly ...
Analysis - Egypt fiscal crisis to pile pressure on army
Reuters Africa
That is a combustible mix for any cabinet and may encourage the army to seek to distance itself from Egypt's economic woes and give the new government far more powers before it becomes too tarred with the brush of a financial crisis. ...
Mozambique: Portuguese Financial Crisis Will Not Stop Cooperation
AllAfrica.com
Lisbon — Mozambican President Armando Guebuza has said that the serious financial crisisaffected Portugal is just a challenge that will not prevent this country from cooperating with Mozambique. Speaking in an interview with the Portuguese paper ...
Artist rips into the financial crisis
Reuters Video
What do the financial crisis and art have in common? William Powhida. Hear the artist describe his work to Reuters' Felix Salmon and Newsweek's Blake Gopnik.
RBI guidelines on Credit Default Swap operational from today
Economic Times
MUMBAI: RBI today operationalised new guidelines on credit default swap (CDS), directing market participants to report such trades within 30 minutes to the Clearing Corporation's online repository. "It is advised that all market makers shall report ...
Fed Has Tools Beyond Swaps to Counter Europe's Credit Crisis
San Francisco Chronicle
Nov. 30 (Bloomberg) -- The Federal Reserve has tools available for easing Europe's sovereign-debt crisis beyond its coordinated effort to reduce borrowing costs announced today, including cutting the US discount lending rate. ...
Hope Creek Faces Financial Crisis
WQAD
Hope Creek Care Center, which is run by Rock Island County, is facing a financial crisis and officials with the Rock Island County Board say the state is to blame. During a press conference Thursday, December 1st, 2011, County Board Chairman Jim ...
Preventing new financial crisis requires action
Yuma Sun
It was therefore good news Wednesday that the world's central banks, including the US Federal Reserve, agreed on concerted action to try to head off a looming credit crisis. Basically, these super banks agreed to assure access to US dollars — the ...
Aon Introduces Tenant Rent Default Coverage
Insurance Journal
Aon has partnered with QBE Insurance Group to offer a product that will reimburse US landlords for lost incomes when tenants default on rent payments. “Rent default coverage has been sold overseas for years, but has not been available in the US until ...
TEXT-Fitch rtgs finds US consumer ABS rtgs shine through the credit crisis
Reuters
The sector saw a 0.6% default/near-default rate over the mid-2007 to mid-2011 horizon. The study is titled 'US Consumer ABS Ratings Resilient Through the Crisis' and is available on Fitch's web site under Credit Market Research and ABS.
Who Is Too Big to Fail Now?
Wall Street Journal
Although that has since eased, especially in the wake of Wednesday's central-bank-induced markets rally, the cost of insuring against default by Morgan is still elevated—and remains higher than the cost of protection on big French banks themselves. ...
Insurance investors at risk of euro hit - Swiss Re
Reuters
By Myles Neligan LONDON Dec 1 (Reuters) - European insurers could face losses big enough to wipe out a quarter of their shareholders' equity if the euro zone's most critically-indebted nations were to default, according to Swiss Re, the world's No.2 ...
Moody's: Historical Default Recoveries Average 54.5%
Barron's (blog)
Moody's found that despite the severity of the credit crisis, the great recession and the 2009 spike in speculative-grade defaults, the latest default cycle has been normal in terms of investor recoveries on defaulted debt. ...
Arena default could affect CWU
Daily Record-News
Central Washington University is one of the bond holders for the Town Toyota Center in Wenatchee, which defaulted today on its $42 million bond payment. The university's $1.6 million investment was purchased in June 2009, said Linda Schactler, ...
nourishing obscurity » How the PIIGS manage
By Chuckles
How the PIIGS manage. Posted on December 1st, 2011 by Chuckles. Some years ago a small rural town in Spain twinned with a similar town in Greece. The Mayor of the Greek town visited the Spanish town. When he saw the palatial mansion ...
nourishing obscurity
Bass: ECB Will Print Post-Default | The Stock Sage
By Robert Sinn
“we have all been programmed to think that we will always be saved from default in a post-Lehman world……EU members know that they will be required to print money in order to re-capitalize their systems. The $18 trillion dollar question for ...
The Stock Sage
Fed Relies on Bacon to Solve the PIIGS Crisis
By Robert Wenzel
27 at the New York Fed headquarters addressed the fallout from the financial crisis in Europe. Mr. Bacon, who was asked by Fed staff members to lead the discussion, began by saying he felt a Greek default was "likely" and he believed there ...
EconomicPolicyJournal.com
Risk Sharing and Financial Contagion in Asia: An Asset Price ...
By repec
This paper assesses financial integration in Asia in terms of risk-sharing benefit versus financial-contagion cost. We construct a new measure of risk sharing based on a term structure model, which allows identification of realized stochastic ...
PoliEcon
The Fire Next Time: The Euro Financial Crisis: Disunion or 'Fiscal ...
By AZ BlueMeanie
Posted by AzBlueMeanie: Here are the options being discussed by finance ministers in Europe this week: The Eurozone can begin to dissolve with countries defaulting and returning to their own currencies. Or the Eurozone can form a "fiscal ...
Blog For Arizona
Mortgage default processing firm tied to Baum also shuts down ...
By KERRI PANCHUK
Pillar Processing, an Amherst, N.Y.-based document processing firm tied to the law firm of Steven J. Baum, is closing down and laying off 586 staff members, according to a Worker Adjustment Retraining and Notification notice filed with the ...
HousingWire
Sarkozy: Must Reform EMU So That No Govt Will Default On Debt ...
Sarkozy: Must Reform EMU So That No Govt Will Default On Debt. By Market ... exception and that in the future no Eurozone government will default on its debt, he ... earlier at the outset of thefinancial crisis he had warned — in the very same ...
ForexLive
XE.com - Southern California airport authority in default
Unable to borrow funds from a local redevelopment agency, the Southern California Logistics Airport Authority was technically in default on its debt on Thursday, according to its bond counsel.
XE Forex News
1 Through 30 – The Coming U.S. Financial Crisis By The Numbers ...
Hopefully you have started to prepare for the coming U.S. financial crisis. If not, hopefully this article will be a wake up call for you. Right now, governments all ...
www.infowars.com/1-through-30-–-the-coming-u-s-financial-...
Foreign News: Eurobonds and contagion to Poland and Slovenia ...
What they have not got a lot on is the contagion into eastern Europe. ... for two weeks straight due to a doubling of government debt since the credit crisis began . ...
www.creditwritedowns.com/.../foreign-news-eurobonds-and-c...
Argentina: Lessons Of Default | Chatham House: Independent ...
Four out of five Argentines, according to most polls at the time, wanted the country to default rather than face years of yet more bailouts and austerity. ...
www.chathamhouse.org/publications/twt/archive/.../179907

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