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

Thursday, December 8, 2011

EU, Region's Largest Banks May Have Ratings Cut by S&P on Financial Crisis

EU, Region's Largest Banks May Have Ratings Cut by S&P on Financial Crisis
Bloomberg
By Vivek Shankar - Wed Dec 07 21:21:49 GMT 2011 The European Union’s AAA long-term rating and the ratings of some of the region’s largest banks including BNP Paribas SA, Commerzbank AG and Deutsche Bank AG may be cut by Standard & Poor’s. The ratings are on “creditwatch negative,” S&P said . . .

johnmpoole.com - views from under the palm: Remaking the euro zone in Germany’s likeness: "The problem is that southern Europe is not Germany, and therefore the "German solution," i.e., "austerity," is not going to work but only create more hardship. When the peoples of Greece, Italy, Spain, and Portugal, figure this out, all hell is going to break out. . . . "

Norway Derides Default Risk at Eksportfinans
Bloomberg
Asked whether there may be a default, Giske said “that is not up to me to decide. I don't think the downgrade is justified.” Moody's Investors Service on Nov. 22 cut Eksportfinans seven levels to Ba1 four days after the government said it will ...
Financial crisis hits developing world disease research
Nature.com
Projects to fight diseases in developing countries have been hit hard by the financial crisis. “This is a turning point where we decide whether our response to the global financial crisis is going to include letting neglected disease R&D [research and ...
Rupee Default Swaps Flop as Global Funds Kept Out: India Credit
BusinessWeek
8 (Bloomberg) -- India reported the first transaction in credit-default swaps one week after the central bank introduced the contracts, suggesting policy makers may have to open the market to global investors to boost trading. Clearing Corp. of India, ...
Merkel in driver's seat as financial crisis threatens EU
Montreal Gazette
The chancellor has demanded that the treaties that established the European Union be torn up or that the eurozone be subject to drastic new rules to bring the continent back from default by controlling the levels of debt. What Merkel does not want is ...
European contagion may hit airlines hard
The National
This would push airlines to losses of $8.3bn, the biggest hit since the 2008 globalfinancial crisis, with losses by European carriers accounting for more than half of that total, he said. "There's no doubt even in the best-case scenario we're going to ...
Lack of federal prosecutions in financial crisis raises eyebrows
Alaska Dispatch
It's an issue we and others have noted again and again: Years after the financial crisis, there have still been no prosecutions of top executives at the major players in the financial crisis. Why's that? Well, according to a now-departed Justice ...
Financial crisis boosts payday loan sector
TotallyMoney News
The payday loan sector has expended rapidly since mainstream lenders restricted their loan books in the wake of the financial crisis. Frances Coulson, R3 President, said: “It's worrying to see that the 16-24s are developing bad money management skills ...
Europe's Financial Crisis
TIME
The threat of fiscal contagion from Greece spreading elsewhere pushed Italy — the euro zone's third biggest economy — to the brink and forced the departure of controversial Prime Minister Silvio Berlusconi, a man who had been unbowed by an earlier ...
First Rupee Credit Default Swaps Traded In India
Wall Street Journal (India)
By Katy Burne and Bijou George Of DOW JONES NEWSWIRES NEW YORK (Dow Jones)--The first credit-default-swap trades offering protection on Indian corporate bonds were completed Wednesday, according to separate statements from India's IDBI Bank and ICICI ...
AIDS Fight Hurt by Financial Crisis
ThirdAge
AIDS will continue to ravage the globe regardless of the economic climate, but the current worldwide financial crisis is severely hurting the fight against the disease. According to Reuters, donor contributions to the Global Fund to Fight AIDS have ...
Sovereign, Bank Debt Swaps Extend Biggest Rally on Summit Bets
BusinessWeek
7 (Bloomberg) -- Credit-default swaps on sovereign and bank bonds fell in Europe, extending the biggest-ever weekly declines, on speculation the region's leaders will make progress toward resolving the debt crisis at a summit tomorrow. ...
A long-term look at default risk in bond markets
CBS News
The fallout from the recent financial crisis still has many investors worried about bond defaults, as bonds are typically a safe haven for many investors. It's certainly understandable. Seeing your investing safe haven disrupted can be tough to stomach ...
Eksportfinans Default Not for Government to Decide, Giske Says
San Francisco Chronicle
Asked whether there is any basis for a default of the state-backed unit that the government said last month it will wind down, Giske answered "that is not up to me to decide," in Oslo today. "I don't think the downgrade is justified. ...
'Dr. Doom' Fears Another Financial Crisis Is Coming
NPR (blog)
by Marilyn Geewax The economist known as "Dr. Doom" for his 2008 recession prediction says the world may be headed for another financial crisis. New York University professor Nouriel Roubini said Wednesday that Europe's debt troubles are so profound ...
Mobile fiscal crisis: No progress on projected budget deficit
al.com (blog)
By Robert McClendon, Press-Register John Williams, seen here in a file photo, rejected Mayor Sam Jones plea to solve the budget problem by raising taxes. “I'm ready to vote for staying within our revenue stream just like that people of this city are...
No Way to Hold Eurozone Together
Huffington Post (blog)
Will the PIIGS sink the euro or will the European monetary union jettison the PIIGS? As the stakes get ever higher, we are rapidly approaching the end game for the European debt crisis. With the spectre of default now hovering over major European ...
EU summit meeting to discuss economic and financial crisis in eurozone but ...
European Jewish Press
BRUSSELS (EJP)---European Union heads of state or government meet Thursday and Friday in Brussels to discuss the latest developments in financial markets and the economic and financial crisis. But EU President Herman Van Rompuy said in his invitation ...
Galbraith brands financial crisis terminology a "challenge" to the sector
Post Online
British Insurance Brokers' Association chief executive Eric Galbraith has today told parliament that the language used by the government and regulator about the financial crisis is a challenge facing the sector. By Callum Brodie In his address at a ...
Corporate Bond Risk Falls in Europe, Credit-Default Swaps Show
Bloomberg
By Abigail Moses - Wed Dec 07 09:54:12 GMT 2011 Credit-default swaps on sovereign and bank bonds fell in Europe, extending the biggest-ever weekly declines, on speculation the region's leaders will make progress toward resolving the debt crisis at a ...
Iceland Economy Grew 4.7% in Third Quarter as Recovery Continues
BusinessWeek
7 (Bloomberg) -- Iceland's economy grew in the third quarter as the first western nation to succumb to the global financial crisis in 2008 shows signs of a sustained recovery. Gross domestic product expanded 4.7 percent from the second quarter, ...
St. Kitts Nevis gets a 'D' credit rating for bond payment default
SKNVibes.com
“Wednesday's development means that the rating for (the) Government of SKN would now be D – Default,” he said, explaining that CariCRIS does not have a public rating on the Government of St Kitts and Nevis. “However, as part of our benchmarking and ...
Thales 5-year Credit Default Swap rises 1.64 basis points, continues ...
Military & Aerospace Electronics
Thales 5-year Credit Default Swap (HO.FR) rose 1.64 basis points (or 1.1%) to close at 149.8 basis points Compared to Treasuries, Thales 5-year Credit Default Swap has generated 17.04 basis points of excess returns month-to-date and 75.62 basis points ...
Will Pakistan default in 2012?
PakistanToday.com.pk
I see food inflation, economic repression and social unrest in the next six months - This is an easy question to pose, but a hard question to answer as a financial economist/banker. In my humble opinion, there are too many players (USA, Russia, ...
Rotten Contagion To Make Landfall In Denmark: CDS Set To Soar ...
By Tyler Durden
It was also noted during the "financial crisis" that the government bailed the F1 mortgages, killing the gain other people, like me, had on the 30-years fixed rate mortgage, so now everyone is going F1, because Fuck It, They can bail me too. It's my taxes after all!! Denmark is sneaking under the radar because it is not in the Eurozone, but it is exactly as leveraged and over-banked as all of the PIIGSadded together! Sensible Danes have already moved their savings to SEK and SCF, ...
Peter Schiff Blog: PIIGS: How The Bond Markets Treat Them Without ...
By Admin
PIIGS: How The Bond Markets Treat Them Without The Implicit Backing Of Northern Europe? If Greece, Italy, et al, can't stomach the austerity that comes with staying in the euro, they should withdraw and see how the bond markets treat them ...
Peter Schiff Blog
UBS: These Are The 19 Countries Most At Risk Of Default
By Mamta Badkar
These countries have massive balance sheet risks.
Clusterstock
PAIRSonnalités | Nordic - Baltic - Arctic: Nordic -| Norway Derides ...
By PAIRSonnalités|news
Norway Derides Default Risk at Eksportfinans: By Josiane Kremer - Norway's government signaled it sees little risk of Eksportfinans ASA defaulting on its obligations even after the state-backed lender was downgraded to junk in response to ...
PAIRSonnalités | Nordic - Baltic...
New Project “The Financial Crisis – a Turning Point for the European ...
By Hagen
For several years now, the financial crisis has been present in media and in the political discourse in Europe. But who and what's behind the crisis? What.
INES
Fed Rebuts Claims of Secret Lending During Financial Crisis ...
By WKLB
By Sarah Borchersen-Keto, CCH Washington News Bureau, Contributing Author, the CCH Federal Banking Law Reporter. The Federal Reserve Board did not engage in secret lending during thefinancial crisis, and media reports that it lent or ...
Financial Reform News Center
TruthAlliance.net > News > Financial Crisis Gives Investors More ...
By News Headlines
Investors are betting that inflation could heat up as many countries cut interest rates—essentially devaluing their currencies—and Europe gets set to inflate its way out of its credit crisis. “It is going to be a go-to asset once everyone digests that ...
TruthAlliance.net
Fiscal crisis to continue for MA cities | Massachusetts | onPolitix
Rocked by the economic downturn of the last few years, Massachusetts cities and towns have seen their budgets gored by cuts to local aid and may be forced to cope with revenue shortages for the foreseeable future,according to a ...
Political News - Massachusetts...
Ron Paul: Read this Book on the Financial Crisis | Tom Woods
By Tom Woods
Ron Paul: Read this Book on the Financial Crisis. A little tooting my own horn, but I'm finishing up an interview with The Daily Bell and wanted to have Ron Paul's foreword to Meltdown, my 2009 New York Times bestseller, online here so I ...
Tom Woods
Financial Crisis Gives Investors More Reasons to Love Gold ...
By admin
Financial Crisis Gives Investors More Reasons to Love Gold. 7th December, 2011. With the Eurozone crisis still underway, leaders are opting to cut interest rates once again. The cut in interest rates essentially devalues their currency, and ...
Roberts & Roberts Brokerage, Inc.
Why no financial crisis prosecutions? Ex-Justice official says it's just ...
It's an issue we and others have noted again and again: Years after the financial crisis, there have still been no prosecutions of top executives at the major ...
www.rawstory.com/.../why-no-financial-crisis-prosecutions-ex...
RealClearPolitics - Contagion Catastrophe in Europe. By Jim Tankersley. Storming the line: The Atlantic is no buffer against European ills. This is the worst-case scenario from ...
www.realclearpolitics.com/.../contagion_catastrophe_in_europ...
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