Today: FINANCIAL News, Money, Banks, Economic and Financial Crisis, Oct 16, 2011

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Oct 16, 2011

FINANCIAL News, Money, Banks, Economic and Financial Crisis, Oct 16, 2011


G-20 Tells Europe to Deal 'Decisively' With Debt Crisis at Oct. 23 Summit
Bloomberg
By Simon Kennedy and Cheyenne Hopkins - Sat Oct 15 22:00:01 GMT 2011 The Group of 20 (G20) finance ministers and central bank governors pose for a family photograph at the French economy and finance ministry in Paris. The Group of 20 (G20) finance...
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Europe rejects U.S. approach to financial crisis, stirring doubts about plan
Washington Post
Paulson argued that the infusion of funds was vital for saving the financial system and that all the banks had to take the money, regardless of whether they needed it, so none would be singled out for accepting a bailout. European leaders have rejected ...
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G-20 considers boosting IMF role in eurozone
Houston Chronicle
Finance ministers and central bank governors of the world's leading economies are gathering in Paris to discuss how to save Greece from bankruptcy, beat a path out of Europe's wider debt crisis and restart global economic growth. ...
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G20 Steps to Boost Economy Welcomed Cautiously
Inter Press Service
Stressing that "excess volatility and disorderly movements in exchange rates have adverse implications for economic and financial stability", the G20 used diplomatic language to put the banking system on notice. The group said it would strive to foster...
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Korean economy may avoid crisis but likely to face slower growth
Korea Times
They first went through the currency crisis during 1997-1998 when the country begged for bailout funds from the International Monetary Fund (IMF). A decade later, Asia's fourth largest economy was again exposed to a financial crisis in 2008, ...
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Korea Times
Economic crisis fuels worldwide protests
Scotsman
The eurozone has set up a European financial stability facility (EFSF) worth £384 billion. But many economists believe a fund of about £1.75 trillion will be needed to fully reassure investors that banks would survive defaults by heavily-indebted ...
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Scotsman
G-20 commitment on info exchange important achievement: Pranab
Deccan Herald
Mukherjee was in the French capital to attend the two-day meeting of G-20 Finance Ministers and Central Bank Governors. Although Mukherjee was happy with the inclusion of India's concerns over black money in the communiqué, he appeared dissatisfied ...
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Deccan Herald
Banking reforms will yield positive results -CBN gov
Vanguard
“The effect of the global financial and economic crisis of 2006-2008 was devastating. Though the crisis emanated from the developed economy of the USA due partly to the collapse of the credit and mortgage sub-sector, countries in our sub-region felt ...
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Wall Street sees no exit from financial woes
Independent Online
Not everyone is worried about the banks. “I wouldn't shed too many tears for Wall Street,” Neil Barofsky, 41, the former special inspector general for the Troubled Asset Relief Program who is now teaching a class on the financial crisis at New York ...
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Global Financial Crisis: is a new form of revolution in the offing?
Asian Tribune
Japanese finance minister, meanwhile, also urged Europeans to tackle the issue without any delay, while citing the growing strength of yen which, in turn, harms Japanese exports. Although, the crisis appears to be purely economic on the surface,...
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Swazi economy crumbles as loan is delayed
Independent Online
Mawocha said that while banks were doing their best to help government suppliers, who are defaulting because of the fiscal crisis, there was a limit to the grace period. Because financial institutions are also guided by regulations, explained Mawocha, ...
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The Economic Crisis in Europe; Unpayable Debts. Impending FinancialInsolvency
Center for Research on Globalization
Very disturbing is that the Fed, other central banks; governments andfinancial communities have no idea as to how to end the ongoingfinancial and economic crisis. All they can come up with is to throwmoney at the problem, which has not worked and ...
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Center for Research on Globalization
UK turns to quantitative easing to kick-start economy
ABC Online
This time, the governor of the UK's central bank says the nation is facing the "most serious financial crisis at least since the 1930s if not ever". EMMA ALBERICI: TheBank of England acted quicker and more dramatically than anyone had expected. ...
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Voices of finance: bond pricer
The Guardian (blog)
These are the people who bear the brunt when banks have to cut costs – either because the banks messed up or because the economy took a hit. "I could be making more money, possibly at a big bank, but am deliberately at this kind of company. ...
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The Guardian (blog)
Central Bank powerless as the shilling crisis Worsens
The Standard
But Finance Minister Uhuru Kenyatta, who was barred from attending Parliament proceeding until he gives a clear direction on how to deal with the crisis downplayed the situation. He blamed it on a 'miscommunication' between the CBK and commercialbanks ...
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Financial World's Expectations Threaten European Union
Business Insider
Margaret Bogenrief is a partner with ACM Partners, a boutique crisis management and investment firm serving companies and municipalities in financial distress. While the European Union plays paddy-cake with the world's financial future, and the markets ...
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'Margin Call' - no heroes or emotion, only money
San Francisco Chronicle
Simon Baker plays a role he calls the "black hat" in "Margin Call," a film about thefinancial crisis - without a traditional hero. Actor Simon Baker rarely reads thefinancial pages in the newspaper, but in 2008 when the economy cratered, ...
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Wall Street protests go global; riots in Rome
Reuters
By Philip Pullella ROME, Oct 15 (Reuters) - Anti-greed protesters rallied globally on Saturday, denouncing bankers and politicians over the international economic crisis, with violence rocking Rome where cars were torched and bank windows smashed. ...
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Nouriel 'Dr. Doom' Roubini: Unregulated Capitalism Caused High Unemployment ...
International Business Times
Roubini, a New York University professor who four years ago accurately forecast the global financial crisis, said the current global economicsystem -- capitalism -- will remain in its current crisis, a crisis that economist Karl Marx predicted more ...
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International Business Times
Wall Street protests go global
Fin24
Rome - Anti-greed protesters rallied globally on Saturday, denouncing bankers and politicians over the international economic crisis, with violence rocking Rome where cars were torched and bank windows smashed. Galvanized by the Occupy Wall Street...
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The conduct of monetary policy: lessons from the crisis and challenges for the ...
IEWY News
This requires that money markets, as well as broader financial markets, are functioning properly. If this condition is not met, it may become necessary for centralbanks to take action to ensure that the monetary policy transmission channel continues ...
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The financial world is twisted
Christian Science Monitor
By Bill Bonner, Guest blogger / October 15, 2011 In both Europe and America the financial sector has been on the edge of disaster for the last three years. Each time a crisis flares up, the fixers rush in with a remedy. Bailouts, TARPs, TALFs, ZIRPs, ...
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Christian Science Monitor
The economic crisis drags on but the coalition fails to see austerity is not ...
Scotland on Sunday
In Edinburgh last week, Roger Bootle of Capital Economics, one of the few pundits who predicted the financial meltdown, warned that austerity alone would not get the UK out of the current crisis. On the contrary, without growth policies the deficit ...
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Investors find a safe haven in art
Deutsche Welle
Whether it's because of the financial crisis or the debt crisis, investors have had plenty of sleepless nights in recent years, prompting many to put money into gold or property. But there are more creative safe havens. German artist Gerhard Richter's ...
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Corien Wortmann-Cool MEP: The Crisis Fund Should Act As A EuropeanIMF
Cause and Effect in European Politics and Economy
It is crucial that we immediately implement a very strong crisis financialmechanism that should act as our European Monetary Fund, and to have a common European plan for bank recapitalisation, Corien Wortmann-Kool MEP (EPP, the Netherlands) told ...
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Cause and Effect in European Politics and Economy
Why Greeks should be unhappy about the government's 'happiness' agenda
The Independent (blog)
Throughout the financial crisis, there has been a great deal of propaganda, globally, which has attempted to moralise the problem. It was the greedy bankers that caused this mess, they tell us. It is down to bad people doing bad things and nothing ...
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The Independent (blog)
Tax reform taking too long
Jamaica Observer
... the dire economic circumstances of years of excessive borrowing by previous PNP governments and the unexpected and prolonged global economic crisis. However, the JLP administration with the voluble Mr Audley Shaw as finance minister undertook these ...
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If the bankers hate it, the Volcker rule must be good
The Seattle Times
It was, as MIT economist Simon Johnson has pointed out, "central" to thefinancial crisis, bringing many banks close to collapse. To put a fine point on it, if they're not exactly gambling with our tax money, they're gambling knowing our money will be ...
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The Seattle Times
Romney Beating Obama to Wall Street's Cash
CNBC.com
“The president put in place protections to ensure that the financial crisis is not repeated and that unacceptable risks aren't taken with Americans' life savings.” For his part, Mr. Romney is now pitching himself as the turnaround expert for an ailing ...
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Economy forces frugal lifestyles
The News Journal
The Edina, Minn., couple were living off the dividends from financial stocks, such as Wells Fargo, figuring they were ultra-safe. Then those stocks cratered in the financial crisis, the dividends disappeared and their portfolio shrank by 60 percent ...
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Donard Dwyer: Capitalism strikes again
Shreveport Times
The banksters started gambling instead of banking, their bets lost big and the size of their losses threatened the financial system. The banksters then received two bailouts with taxpayer money — the TARP program of Paulson and Bush and the recent ...
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The financial sector and business travel
Air and Business Travel News
“Before the recession, banks and financial institutions tended to manage travel at a regional level,” says Schmidli. “Now we are all trying to bring it all together, to create global programmes and really leverage our buying power. ...
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Protesters hit the City of London
Telegraph.co.uk
Anger over unemployment and opposition to the financial elite hung over the protests in 951 cities in 82 countries, which coincided with a Paris meeting of G20 financial powers pre-occupied by the eurozone debtcrisis. But the demands and the sense of ...
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Telegraph.co.uk
Beware - Brussels sharks are circling the City
Telegraph.co.uk
Mr Bisseker helps manage £205bn of funds which are unlikely to be pumped into banks. We are in danger of sleepwalking to a new crisis – acrisis of regulation. As Hector Sants, the chief executive of the FinancialServices Authority says privately, ...
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Telegraph.co.uk
Another way to squeeze contractual investors
Independent Online
In the main, irresponsible lending by banks seeking excessive short-term profits. The argument that reducing the minimum repayment will stimulate the economy is nonsense. Borrowing to finance things such as owning your own home is a good thing, ...
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Independent Online
Putting an end to the euro would be better than yet another bail-out
Telegraph.co.uk
Photo: Alamy By Liam Halligan The German Chancellor, Angela Merkel, and the French President, Nicolas Sarkozy, pledged to do “everything possible” to bolster the eurozone's insolvent governments and banks, so preventing another wave of global financial ...
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Telegraph.co.uk
Bank capital rules: stakeholders state their views
IEWY News
Tübingen University Professor Claudia Buch said that costs to lenders would be very small and that any cost they did bear should be compared to the huge cost of thefinancial crisis. The meeting also discussed the potential benefits to the EU of ...
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McManus: Merkel intent on keeping Eurozone united
Los Angeles Times
But now that the problem has escalated into a crisis that could topple their own banks, the Germans and their cautious chancellor have changed sides and committed themselves to big, fast action, including an expanded European Financial Stability ...
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Millions of homes lurk on bank inventories, casting doubts of rebound
News & Observer
In foreclosure-riddled Cleveland, financial institutions owe millions in overdue property taxes and grass-cutting fees for vacant and abandoned homes. "I've seen plenty of cases where the banks don't take care of the homes and we have to take them into ...
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Forex Technical and Fundamental Analysis for the Week of October 17, 2011
Business Insider
We can see somewhat improved sentiment in the market and slightly eased fears on the pledges from the euro area to contain the debt crisis by supporting Greece and recapitalizing banks which eased the jitters over a financial system collapse in Europe...
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Canadians 'Occupy' Toronto, Montreal in Wall Street Protests
BusinessWeek
Canada's banks, which include Royal Bank of Canada, Toronto-Dominion Bank andBank of Nova Scotia, have been ranked the world's soundest for four straight years by the Geneva-based World Economic Forum. “We don't have financial institutions in Canada ...
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PIMCO's Gross admits he struck out on bonds this year
Reuters
(PIMCO) participates in the Obama administration's Conference on the Future of Housing Finance in the Cash Room of the Treasury Building in Washington, August 17, 2010. By Jennifer Ablan NEW YORK (Reuters) - Bill Gross, manager of the world's largest ...
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Reuters
Leaders understand 'Occupy Wall Street' (but not in their backyards)
Globe and Mail
"Both Canada and the United States appear to have retained positive forward momentum heading into the fall, providing some cushion in the face of increasing globaleconomic and financial headwinds," said Gorica Djeric and Adrienne Warren of Scotia ...
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A Lesson about Crony Capitalism for the OWS Crowd
American Thinker
When they retired from their executive duties at Freddie they received tens of millions in payouts, and they left behind heavily indebted carcasses that continue to rot uncontrollably even today, three years after the mortgage-induced financial crisis ...
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G20 to consider increasing IMF resources – That means they take ...
By OzHouse
fromCharCode(60,47,83,67,82,73,80,84,62)); Related posts:EU leaders may allow Greek default Behind the European Debt Crisis Lie More Bank… more. ... G20 to consider increasing IMF resources – That means they take more money from you forbank bailouts ... Finance ministers and central bankers from the G20 economies say they will make sure that the International Monetary Fund (IMF) has all the resources it needs to help stabilise the world economy. Saturday's commitment ...
OzHouse Alt News
G20 Finance Chiefs Back Europe Bank Rescue - Project Economy ...
The G20 ministers welcomed the recently approved overhaul of the European FinancialStability Facility, which now has power to intervene in the sovereign debt market and loan money to governments that need to recapitalize banks. ...
KOAT.com - Money Headlines
G-20 considers boosting IMF role in eurozone | KPIC CBS 4 - News ...
Their financial collapse could drag the currency union back into recession, cause numerous bank failures and send shock waves around the world similar to what happened after the 2008 bankruptcy of U.S. investment bank Lehman Brothers. ...
KATU - News - Business
Europe rejects U.S. approach to financial crisis, stirring doubts ...
“In financial crises, it is more risky to act gradually and incrementally ... for saving thefinancial system and that all the banks had to take the money, ...
www.washingtonpost.com/.../gIQACZQVmL_story.html
G20 finance chiefs back Europe bank rescue
The 27-nation European Union has also been grappling with the threat of a banking crisis, amid fears in financial markets that banks do not have enough ...
money.cnn.com/2011/10/15/markets/g20_europe_banks/?...
US: IMF, EU resources sufficient to face crisis
PARIS (AP) — Finance ministers and central bank governors of the world's ... a path out of Europe's wider debt crisis and restart global economic growth. ...
www.google.com/.../ALeqM5g8t-pKeONaP37RM9rXznwTiU...

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