Today: FINANCIAL News, Money, Banks, Economic and Financial Crisis, Jan 10, 2012

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Jan 10, 2012

FINANCIAL News, Money, Banks, Economic and Financial Crisis, Jan 10, 2012


The Economic and Financial Legerdemain of the Obama & Bush Administrations
OpEdNews
This means that it's already taken a tremendous amount of new money to keep ourfinancial system from collapsing. Yet despite this huge sum being pumped into thebanking system, once again the banks are still regarded as weak and troubled. ...
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G20's FSB targets insurers, domestic banks
Reuters
The FSB is the regulatory task force of the world's group of top 20 economies (G20) and is charged with implementing pledges to reform banks and markets after thefinancial crisis. It has already completed work on new capital and liquidity rules from...
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Fed Returns $77 Billion in Profits to Treasury
New York Times
Through those purchases, the central bank has become the largest single holder of federal debt, and of securities issued by the government-owned mortgage financecompanies Fannie Mae and Freddie Mac. As a consequence, most of the moneyflowing into the ...
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Carmen Reinhart and financial repression
The Economist (blog)
In Britain, the inflation target has been repeatedly missed while rates have been held at 0.5% because the Bank of England has decided (probably correctly) that the economy and financial system are too fragile to withstand higher rates. ...
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Hungary's IMF negotiator to start talks
Sky News Australia
Hungary avoided bankruptcy in 2008 at the height of the global financial crisis thanks to a E20 billion ($A25.03 billion) bailout from the European Union, the IMF and the World Bank. After Orban came to power in May 2010 he quickly turned his back on ...
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Turkish experts say euro crisis likely to deepen, spread in 2012
Today's Zaman
The coming months will be decisive in determining whether European leaders can hold their increasingly fragile currency bloc together, or stumble in the face of a daunting set of political, economic and financial obstacles lined up in their path at the ...
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Agency predicts January downgrades for Europe
CBS News
France's rating faces stress from the exposure of its banks to the European debt crisisand its position as a major contributor to Europe's bailout fund, the European FinancialStability Facility, Riley said. He noted that the country has to constantly ...
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Analysts: ECB likely to hold rates steady
The Associated Press
That means buying financial assets across the eurozone as a way of pushing newly created money into the economy and promoting growth. It is an additional tool that central banks can use when interest rates are about as low as they can go. ...
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RBS Pay and Bonuses, Newedge USA Fined, Hildebrand Quits, PLDT: Compliance
Bloomberg
Criticism of the profession came to the fore after the 2010 release of “Inside Job,” an Academy Award-winning documentary about the financial crisis that features economists being interviewed about their links to the financial industry. ...
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Gambia: Fused in Finance
AllAfrica.com
Few people know this, but there's a process through which banks and trading houses are leveraging your money to increase their profits - just like they did in the run-up to the last financial crisis. Only this time, things may be worse, as hard as that ...
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Debt crisis: as it happened, January 9, 2011
Telegraph.co.uk
The live blog will be back tomorrow and in the meantime you can read the latest business and economic news on our main finance page. 21.31 US markets have closed. The Dow Jones industrial average finished up 0.27pc at 12392.69, while the broader S&P ...
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Telegraph.co.uk
QNB Last Credible Buyer for Denizbank as Bank Sales Founder
BusinessWeek
The agency has given the region's lenders until June 30 to increase core Tier 1 capital, a measure of banks' financial resilience, to 9 percent as a buffer against the sovereign-debt crisis. The EBA set a Jan. 20 deadline for banks to submit ...
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CBI-PwC report: Banks could squeeze more out of spreads between mortgages and ...
This is Money
Today's report found UK banks and insurers enjoyed their strongest quarter since before the financial crisis — but thousands of job cuts loom. Fees and commissions for the financial services industry grew for a seventh quarter in a row and at the ...
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This is Money
Australia's biggest economic threat is China
MarketWatch
WSJ 'Money & Investing' editor Francesco Guerrera joins Mean Street to discuss. Photo: AP. The global financial crisis also boosted investment in commodities. As traditional investments fared poorly (stocks, interest rates and property prices all fell) ...
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Europe Crisis Wipes Out Covered Bond Savings: Australia Credit
BusinessWeek
“While access to wholesale funding markets in the 2012 financial year has commenced with better momentum, funding costs for new issuance remain very elevated,” Rick Moscati, ANZ's group treasurer, said by e-mail. The bank's covered bond sale provides ...
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Murky politics behind fall of Swiss banker
BBC News
He began his job just as the Swiss financial sector looked to be recovering from a major financial crisis. Over-exposure to sub-prime mortgages had brought Switzerland's biggest bank, UBS, to the brink of ruin; it was only rescued by a government ...
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BBC News
Hungary: The newest problem for the eurozone
MindfulMoney
The original talks with the IMF and EU broke down in December over concerns on new laws that hurt the independence of Hungary's central bank and Fitch commented on the Hungarian government's 'unorthadox' economic policies. ...
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UniCredit's Weak Share Offering a Poor Omen in Europe
New York Times
It is a bad omen for struggling European banks. At the behest of regulators, the region's financial institutions must raise a combined $145 billion by June. But banks may have a tough time convincing investors to plow more money into the beleaguered ...
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New York Times
Quit Fooling Around And End The 'Great Recession'
Seeking Alpha
And many hundreds of billions of “stimulus” and "rescue" dollars have been authorized for the relief of a few banks and financial industry giants represented by a handful of powerful lobbyists and cronies. It all started when the housing market crashed ...
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How China and India are developing their financial markets
San Francisco Luxury News
AFP / PAL PILLAI global economy, China is still very far indeed from Western countries in the financial system. Similarly for India, which seeks to make grow flows of new money in s to foreign investors. “delay” due to a choice quite similar for the ...
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Promises that proved ultimately empty
Financial Times
Nor will it address the need to restructure, which is being driven by a basic economic force – the financial pressure that banks now face. Institutions such as UBS and Citigroup are struggling to recover from their losses during the crisis and the ...
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Financial Times
China promises to boost business without creating a bubble
USA TODAY
The weekend conference, held to make plans for financial industries for the next five years, ended with no major reform initiatives announced. Analysts say China's state-owned banking industry, which lends mostly to government companies, has to be more ...
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USA TODAY
Financial Repression
Resource Investor
Instead, our systemic and economic problems are leading to yet more deterioration in government finances. No amount of financial repression can fix that. Alasdair Macleod runs FinanceAndEconomics.org, a website dedicated to sound money and demystifying ...
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Cabinet approves 4 financial decrees
Bangkok Post
1) An executive decree to transfer 1.14 trillion baht in debt from the 1997crisis to the Financial Institutions Development Fund (FIDF), an institution set up under the Bank of Thailand to manage the bank crises. 2) An executive decree to seek loans ...
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Bangkok Post
Troika begin two-strand mission to Dublin
RTE.ie
Officials from the IMF, European Central Bank and European Commission have begun the fifth review of the loan programme to Ireland. The development comes as scrutiny of the euro zone crisis will intensify over the coming days with a series of key bond ...
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Capitalism in Crisis: The Code That Forms a Bar to Harmony
truthout
Efforts to re-regulate the banking system, meantime, have failed to convince many experts that an even larger financial crisis can be avoided. If Hyman Minsky, the expert on financial market fragility, provided the best route map for understanding ...
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Where's the Money? Asset Allocation a Pension Challenge for 2012
MarketWatch (press release)
With pension reform in the air, funding relief in 2012 may be easier sought in the legislatures than in financial returns. Towers Watson's 31st Annual Canadian Survey ofEconomic Expectations provides forecasts from leading business economists, ...
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US Stocks Advance to Five-Month High Amid China Easing Bets
BusinessWeek
All 10 groups in the S&P 500 advanced as commodity, financial and industrial shares had the biggest gains. Bank of America Corp. and Caterpillar Inc. added at least 2.5 percent. The Dow Jones Transportation Average jumped 1.3 percent. ...
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Money Trail Triggered Real Estate Collapse
Housing Predictor
Despite the moribund economy, financial industries are enjoying relatively little new regulation and they are pouring money into election campaigns. Follow the money trail and you find Wall Street is wooing candidates and bankrolling their campaigns, ...
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Europe's Crisis Is Germany's Blessing
Spiegel Online
Even the German Finance Agency was stunned. "This has never happened before," a spokesperson said. The Finance Ministry should be pleased. In the last four years, they've had to shell out around 1.8 percent in interest for such bonds. ...
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Spiegel Online
Ex-Bank of America Deal Maker Sets Up in Indonesia
Wall Street Journal (blog)
But the Asian financial crisis of the late 1990s has also left a residue of unsavory views of foreign investors. “After 1998, any investment vehicle in Indonesia must overcome a stigma of hot money,” said Mr. Holm, who has also previously worked at ...
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Analysis: Window may be opening for China to widen yuan band
Reuters
Beijing's sensitivity to external conditions was clear in mid-2008 when it effectively re-tied the yuan to the dollar as the global financial crisis menaced China's economy. But as once rampant speculation about a move to widen the yuan's trading band ...
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How Banks' Reluctance To Make Small-Business Loans Is a Major Driver of ...
Slate Magazine
In particular, they find that during the recession, workers were more likely to lose their jobs if they worked in a sector characterized by a high level of external finance. For a recession associated with a banking crisis, that's not so surprising. ...
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Slate Magazine
Odds of a 600 to 1000-Point Surge in DJIA Improving
Equities.com
The European Financial Stability Facility (EFSF): created by eurozone members to safeguard financial stability in Europe. Authority includes loans to countries in need, intervention in primary and secondary markets pursuant to ECB analysis, finance ...
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Visions for a healthier West Bank economy
Gant Daily
Economists and businessmen warn that the PA's dependency on aid and vulnerability to external shocks could lead the entire West Bank economy to collapse, provoking a humanitarian crisis. Among the most vulnerable are the owners of small businesses and ...
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Secondary Sources: Economic Confidence Up, Coin Demand, Insourcing
Wall Street Journal (blog)
“You can also find what looks like good news for the US economy in the Mint's report — demand for quarter, dimes, nickels, and pennies was up this year. During thefinancial crisis, demand had plunged. “People went into their piggy banks and their ...
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What's the Deal with the Consumer Financial Protection Bureau? And How Can It ...
Learnvest Living (blog)
In a blog post, the new director said, “Most of the nonbank financial companies had no regular federal oversight in the run up to the financial crisis. They led a race to the bottom that pushed aside responsible businesses, including community banks ...
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The ONLY Way to Make Serious Money in 2012
Jutia Group
In 2009, long after the banking crisis had struck in full force, Wall Street finally decided it was time to dump financial stocks. But that's also when Weiss Ratings identified the few strong banks and insurance companies in the United States. ...
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Jutia Group
Will the Iran Sanctions Spark an International Oil Crisis?
The Atlantic
On December 31, President Obama signed into law the toughest American sanctions yet against Tehran, which aim to cut off the country's petroleum revenue by penalizing financial institutions that do business with the country's central bank. ...
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The Atlantic
People Want More Coins, That's A Good Sign For The Economy
NPR (blog)
You can also find what looks like good news for the US economy in the Mint's report — demand for quarter, dimes, nickels, and pennies was up this year. During thefinancial crisis, demand had plunged. "People went into their piggy banks and theircoin ...
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So how much is more than ever?
Palm Beach Daily News (blog)
According to a September study by The Clearing House Association, our financialinstitutions have come out of the global financial crisis with over $1.5 trillion in capital—- the highest capital level in history. But it's bad news, too. ...
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Huntsman: 'I Will Break Up The Big Banks'
ThinkProgress
By Pat Garofalo on Jan 9, 2012 at 4:30 pm Across the board, the GOP's 2012 presidential candidates have denounced the Dodd-Frank financial reform law, enacted to prevent a repeat of the 2008 financial crisis. However, none of them has come up with a ...
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The Trading Deck
MarketWatch (blog)
Just as the economy shows echoes of the financial crisis while income inequality grows, Chicago has echoes of financial crises of the past still visible in the old Continental Illinois Bank headquarters alongside the glitz and glamor of the Gold Coast...
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Fed reports payment of $76.9 billion to government
Sacramento Bee
The Fed began buying Treasury bonds and mortgage-backed securities during the recession and 2008 financial crisis to try to lower long-term interest rates. Fed officials say such unconventional efforts are necessary until economic growth becomes ...
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Turkey - Factors to Watch on Jan 10
Reuters
GLOBAL MARKETS Asian shares and the euro rose on Tuesday, but concerns over funding of euro zone sovereigns ahead of key auctions this week and of the debt crisisspilling into the wider financial system kept investors cautious about taking riskier ...
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