Today: FINANCIAL News, Money, Banks, Economic and Financial Crisis, Aug 30, 2011

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Aug 30, 2011

FINANCIAL News, Money, Banks, Economic and Financial Crisis, Aug 30, 2011

SimonJohnson: Euro's appeal masks the gathering storm
The News Journal
Is the economic and financial situation in Western Europe largely under control, as many prominent Europeans contend? Or is it poised to move into a new and more difficult phase? Thecrisis feels unreal to some people in the same way that war felt ...
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Head of Euro-Zone Bailout Fund: 'The Crisis Will Be Over in Two to Three Years'
Spiegel Online
If German Chancellor Angela Merkel and French President Nicolas Sarkozy have their way, Regling's bailout fund will turn into a European Monetary Fund, which, like the International Monetary Fund (IMF), would monitor the financial and economic policies...
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Spiegel Online
RUTH SUNDERLAND: Bankers do not need a Knight in shining armour
This is Money
She argues that plans to strengthen the regulation of the financial sector should be put on hold until the economy is back on its feet and taxpayers have had their moneyback from the bailouts. That would certainly kick reform of the banks well into ...
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This is Money
Federal Reserve Grabs New Powers
Wilson County News
While inflation hawks understandably keep a close watch on the Federal Reserve's money-creation activities, an equally worrisome Fed activity is taking place right under their noses. Under cover of addressing the financial crisis and recession, ...
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PIGGY BANK APPEAL: More cash for sick kids
Maribyrnong Leader
But as the hospice ran into deficit in the global financial crisis as donations shrank, the Brumby Government granted $500000 and began a budget process to make it recurrent, which the Baillieu Government continued. “For a child to stay in the hospice ...
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Big banks need to fess up to losses
Kansas.com
Today the fundamental problem for consumers, banks and governments alike is too much debt. The process of deleveraging is painful. There is no way of getting around this. Yet ever since the currentfinancial crisis started in 2008, the US government ...
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Obama Appoints a New Chairman to his Council of Economic Advisers: Who Is Alan ...
Fox News
"New York Times" financial reporter Louise Story joins us. Good evening, Louise. Who's the -- who's the new appointment? LOUISE STORY, "NEW YORK TIMES": So Alan Krueger has been a longtime professor at Princeton. And actually, he's done a lot of ...
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None Dare Call It Recession
MarketWatch (blog)
Unfortunately, the recession, besides being extraordinarily severe as well as global in scope, was also unusual in being associated with both a very deep slump in the housing market and a historicfinancial crisis. These two features of the downturn, ...
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The ECB cannot buy paper in the primary market
FXstreet.com
Indeed, it looks likely that it will drop the upside risks to price stability at its September meeting which would together with the weaker eco outlook and the financial crisis abort the rate normalization process the ECB started earlier this year. ...
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Stocks kiss off Irene
New York Post
Greece's second- and third-largest lenders agreed to combine to create the nation's largest bank in a move that is expected to help fortify the new financial giant against the nation's debt crisis. At home, Bank of America shares continued to climb, ...
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Why are these men smiling?
Toronto Star
Bank of Canada Governor Mark Carney says, “The responsibility starts with the individual; it then goes to the financial institutions that are lending them the money.” But surely the federal government needs to do more than just lecture consumers and ...
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OUTRAGE IN OAKRIDGE
The Register-Guard
OAKRIDGE — Not long after news of this town's financial crisis broke this summer, an elderly woman walked into City Administrator Gordon Zimmerman's office and offered the bulk of her life savings — close to $300000 — as a loan to rescue Oakridge ...
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Dazed by markets' wild swings
Times LIVE
At present, the biggest impediments investors face on their path to rebuilding prosperity are the extreme gyrations in financial markets and the ambivalence of global leaders to agree on a coherent plan to solve the current economic crisis. ...
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Times LIVE
Alok Sheel: The Rise and Decline of Fiat Money?
Business Standard (blog)
The market response to the debasement of macro-economic policies since the onset of the recentfinancial crisis seems to be to turn to gold as a safe haven, a status long occupied by the US dollar. The Rogers International Commodities Index (RICI) and ...
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Consumer spending up, but recession still a threat
Atlanta Journal Constitution (blog)
Some economists, among them Harvard UniversiItty's Kenneth Rogoff, say today's painfully slow economic growth is the inevitable result of the massive head winds that follow a recession caused by a banking and financial crisis. ...
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Atlanta Journal Constitution (blog)
Israel 2021 / The world isn't just flat anymore
Ha'aretz
So is the resurgence of financial crisis. When the debate turns from how to divvy up the budget to cutting it, the public will have a say, in contrast to the past. Now it knows it has power. It has influence. The greater its distress, ...
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What's wrong with the European economy?
The University Times
When the greatest financial crisis since the Great Depression hit in late 2008, a prolonged recession was thought to have been avoided thanks to an internationally coordinated bank bail-out and fiscal stimulus. However, while a collapse of the banking ...
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Sam's Exchange: CCCP - Colossal Commodity Collapse Prediction
RIA Novosti
As the interbank credit markets freeze and we move into a deflationary spin, the commodities which were used by banks and financial traders (oil and gold to hedge against inflation) are moving into a deflationary spin. Property is already in a downward...
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RIA Novosti
Companies Stop Selling Bonds as Costs Jump by 40%: Euro Credit
Bloomberg
Bayerische Motoren Werke AG (BMW), the world's biggest maker of luxury vehicles, was the last non-financial company to sell debt maturing in longer than two years, borrowing 1 billion euros ($1.4 billion) on July 22 in a bond due 2018, according to ...
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The Overnight Report: Greece Fights Back
International Business Times
By Greg Peel Hurricane Irene did not cause as much damage to New York City as was feared, but while the NYSE was open it was still difficult for many in the financial market workforce to make it into town. Hence volume on the exchanges was light last ...
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Why Senator Brown is wrong
The MIT Tech
You can deny to your heart's content that lack of regulation and oversight was not responsible for theeconomic quagmire we find ourselves in today, stemming from the 2008 financial crisis. But once again, facts beg to differ. ...
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It's Time to Bring Our Mortgages Home
Scoop.co.nz
I served as FHA Commissioner (See: Austin Fitts Better be Good With Hammer and Nails) during the first Bush Administration and then, several years later, my company, Hamilton Securities Group, served as the lead financial advisor to FHA, ...
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Obama May Back Hiring Credit, Infrastructure Spending Yet Fall Shy on Jobs
Bloomberg
Concern about the economy has increased in recent months as growth weakened during the first half of the year to its slowest pace of the recovery and financial markets turned tumultuous amid worries about the European debt crisis. ...
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Solid Earnings Season, Stocks Look Cheap
Zacks.com
However, it you exclude the Financial sector, growth is 19.7%, down only slightly from the 19.8% pace of the first quarter. The 98.4% reported figure slightly understates how far we are along in earnings season. If all the remaining firms were to ...
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Secret Exemptions Allowed Speculators to Distort Futures Markets
Real News Network
When the debate broke out in 2008 and 2009 about the financial crisis, one of the critical issues was the role of derivatives, the role of commodities trading, and especially the role of what was called excessive speculation. ...
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Making the desert bloom
Truth about Trade & Technology
The financial crisis of 2008 began on the trading floors of Manhattan, but the biggest tremors were felt in the desert south of the Rio Grande. Mexico suffered the steepest recession of any country in the Americas, bar a couple of Caribbean tiddlers. ...
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