FINANCIAL News, Money, Banks, Economic and Financial Crisis, Sep 06, 2011

Debt crisis: as it happened - September 5, 2011 Telegraph.co.uk Rolling coverage of the rollercoaster in financial markets as the eurozone and US come under increasing pressure to deal with high debt level and stave off another recession. Japan's share prices fell 166.28 points to close at 8784.46 points at the ... See all stories on this topic » Telegraph.co.uk

Empire of Dirt - "Let them fail" Why failing banks should fail Forbes They were largely responsible for causing one of the worst financial crisis' in our nation's history. Fannie and Freddie are still in receivership today and will be for years to come. The FHFA lost credibility because they “took the word” of banks who ... See all stories on this topic »

David Buik: History Will Be Kind To Darling Sky News Yes, he was a leading financial light in a government which spent moneyindiscriminately, as well as in the early years of that administration failing to have any control over bank regulation and credit, which contributed to the deepest recession since ... See all stories on this topic » Sky News

Debt crisis will be less severe - ESRI Irish Times It uses the Department of Finance's economic growth assumptions, and also takes a weighted average interest rate on EU and IMF borrowing of 4.2 per cent and makes a “conservative” assumption that the rate on new borrowing after 2014 will be 6 per cent. ... See all stories on this topic »

Kuwait financial sector may draw money launderers - IMF Kipp Report “Although there is currently no evidence of significant money-laundering in the country, Kuwait'sfinancial sector is growing rapidly in terms of banking sector assets,” the IMF said in a report published on the fund's website www.imf.org. ... See all stories on this topic »

EMERGING MARKETS-Latam stocks slump on global bank, economy woes Reuters But analysts and traders said both economies were in a far weaker position than in 2008, when a global financial crisis and recession pushed governments to inject monetary and fiscal stimulus. "Things don't look too good. It is not like they will be ... See all stories on this topic »

Financials drive Footsie lower amid concern EU debt crisis may worsen Irish Times “This is really about fears about liquidity and solvency now,” said Andrew Lim, a banking analyst at Espirito Santo Investment Bank. “US money markets are lending less for a second month to European banks, particularly French banks. Banks are having to ... See all stories on this topic »

Iceland: The broken economy that got out of jail The Independent Iceland's special prosecutor, Olaf Hauksson, has named more than 200 suspects in his criminal investigation into the country's financial crisis. So far, those convicted in connection with the country's big banks – Landsbanki, Kaupthing and Glitnir ... See all stories on this topic »

Newspaper Briefing, including 'Regulators poised to soften new bank rules ... Proactive Investors UK SFO examines UK mortgage bond sales: The Serious Fraud Office is examining potentially fraudulent trades of asset-backed securities carried out by banks in Britain in the run-up to thefinancial crisis. The SFO said it was conducting a “scoping ... See all stories on this topic »

Chalongphob opposes idea, cites SK loss The Nation He said he had also suggested that the committee managing a sovereign wealth fund should consist of members from the central bank and two representatives from theFinance Ministry. "It is true, as Finance Minister Thirachai said, that the moneybelongs ... See all stories on this topic » The Nation

Morning papers: Eurozone fears resurface FT Adviser German benchmark borrowing costs fell below 2 per cent to all-time lows while Italy's shot up as worries about the eurozone debt crisis and the fragility of banks once more intensified, reports theFinancial Times. European lenders bore the brunt of a ... See all stories on this topic »

Global banks in turmoil as US sues over toxic mortgage loans MindfulMoney Royal Bank of Scotland, HSBC and Barclays are among 17 global banks being sued by the US authorities over the sale of toxic loans to two US Federal housing finance organizations in the run up to the financial crisis. Royal Bank of Scotland, ... See all stories on this topic »

World-Wide, Bad News You Can Take to Bank Wall Street Journal The doubts are swirling even though banks by many measures are in far better shape than they were in 2008. Many banks are sitting on huge amounts of cash, thanks to financial-market turmoil that has sent deposits pouring into the US banking system. ... See all stories on this topic »

Global Yields Converging as JGBs No Longer Lowest: Japan Credit Bloomberg 4 suffered its fifth election loss this year as voters resisted her bid to put more taxpayer money on the line for bailouts of indebted euro-zone states. The currencies of Switzerland and Japan tend to strengthen during periods of financial stress ... See all stories on this topic »

Reluctantly, Europe Inches Closer to a Fiscal Union Gainesville Sun The lack of strong central coordination of the euro zone's debt and spending policies is a key reason Europe has been unable to resolve its financial crisis despite more than 18 months of trying. And that is why, despite all the political obstacles, ... See all stories on this topic »

Is fondness for gold hindering India's growth? Equitymaster.com Your confusion is very much valid since we seldom hear about gold consumption having any implication on economic growth. There has been so much hoopla about gold and other precious metals ever since the global financial crisis erupted. ... See all stories on this topic »

Services sector: Bank of England must act while Osborne won't The Guardian The August services PMI, published on Monday, was an absolute shocker, with the index of activity dropping from 55.4 to 51.1 – a sharper monthly fall than seen during the worst of the financial crisis in late 2008. Osborne may perhaps take some comfort... See all stories on this topic » The Guardian

Euro Land May Face Full-on Bond Meltdown: Economist CNBC.com With Europe on the edge of a major financial crisis, Weinberg believes the only thing standing in the way of a bond market collapse is the ECB. “ECB support for sovereign bond [cnbc explains] markets is the only thing preventing a bond market meltdown. ... See all stories on this topic » CNBC.com

EMERGING MARKETS-Latam stocks fall on recession fears Reuters For details, see [ID:nL5E7K40AM] Analysts and traders said countries were in a far weaker position than in 2008, when a global financial crisis and recession pushed governments to inject monetary and fiscal stimulus. "This could be classified as a ... See all stories on this topic »

Legalise foreign currencies - MP BBC News Mr Carswell claims the two dominant post-war economic theories - monetarism and Keynesianism - have both failed, and radical thinking is needed amid the ongoing globalfinancial crisis. He accepts that government ministers and the Bank of England would... See all stories on this topic » BBC News

Goldman Sachs says that the economic collapse is coming The Economic Voice One would suppose not as all the other financial institutions and government treasuries across the world are all reading just about the same data. And it comes at the same time as Christine Lagarde of the IMF says we must ditch the austerity drives in ... See all stories on this topic »

Beware of September New York Times And despite the ray of hope for private sector answers provided by a Greek bank merger in the last days of August, no one has come up with a comprehensive plan to right the European financialship. Meanwhile, worries over a double-dip recession in the ... See all stories on this topic »

Poor Start to Important Week Business Insider First, France is less able to cope with the financial crisis than is Germany. As in a poker game, it is the second best hand that loses the most. Well, France has that hand. Its economy is not as competitive as Germany's and its ability to shoulder ... See all stories on this topic »

Central Banks, BIS and Goldman Sachs Coercion The Market Oracle It is economic warfare, and more deadly than an invading army, because it comes from the enemy within." Today central banks command far more power to dictate financial consequences than any government. Simply stated, governments dare not restrict or ... See all stories on this topic »

Volatility spurs fears for M&A debt sales Financial Times They add that the market is particularly awaiting the outcome of financing for the $6.3bn purchase of woundcare specialist Kinetic Concepts – the largest leveraged buy-out agreed since the financial crisis. Banks committed themselves to underwriting ... See all stories on this topic »

Iceland “Bullied” Over Bank Debt: Grimsson The Right Perspective Since the 2008 global financial crisis, Iceland had to accept a bailout led by the IMF, accompanied by a programme of economic reforms which have just been completed. The administrators of Landsbanki have said the estate of the bank can more than repay ... See all stories on this topic » The Right Perspective

The arrow is aimed at Israel's alpha tycoon Ha'aretz "The pyramid structure turns the holding companies into the controlling shareholder's private bank," he said. Dankner's method consists of two main elements: financialacrobatics and contacts. He is connected up and down the capital market and has ties... See all stories on this topic » Ha'aretz

Thailand likely to expand exchange-traded funds (ETF) offer Thailand Business News Expansionary monetary has been employed to help to mitigate the impact of the globalfinancial crisis. As inflation rose rapidly in the first half of the year, the Bank of Thailand (BOT) raised its policy rate by 0.5 percentage points to 3.75 percent. ... See all stories on this topic » Thailand Business News

The 100% mortgage is back: Aldermore launches no deposit mortgage This is Money The small bank, which was launched in 2009, is the first lender to offer a new mortgage at 100 per cent since the widespread withdrawal of these high loan-to-value (LTV) deals during the financial crisis. But to obtain the loan, potential homebuyers ... See all stories on this topic »

Co-op aims to take on 'big five' banks as it moves into old Britannia branches This is Money It does not engage in the risky, 'casino-style' investment banking, which has been blamed for the onset of the financial crisis in 2008 and subsequent economicstruggles across the globe. Co-op has provided one of the first signs that real banking... See all stories on this topic » This is Money

State to try former Bank Hapoalim chairman Jerusalem Post At the time, the Elran Group was experiencing financial difficulties. Dankner is also alleged to have received a 5m. euro loan in 2008 from the Dutch DHB Bank, which is also owned by Cingillioglu. “Dankner's loan was received at the height of the ... See all stories on this topic »

European Markets Slip on Euro Zone Debt Concerns Beacon Equity Research Major US banks are expected to remain in focus this week after the Federal Housing FinanceAgency sued them last Friday over sale of some mortgage-backed securities before the financial crisis. Bank of America Corporation (NYSE: BAC) is among the 17 ... See all stories on this topic »

Europe's markets slump on economy and debt fears euronews A black Monday for the financial markets with share prices and the euro tumbling in value. As well as fears of recession, investors are worried about the euro zone's ability to solve its debt crisis and legal moves in Germany to prevent Berlin ... See all stories on this topic » euronews

Analysis: Time to focus on the marketplace, not the markets Jakarta Post As I remember it, they fared rather well the last time there was a global financial crisis, not so long ago. The consumer economy chugged along rather well, almost without skipping a beat. Why should this second coming be any different this time around ... See all stories on this topic » Jakarta Post

How we can defend manufacturing industry The Australian The Reserve Bank has signalled that interest rates are on hold for the foreseeable future. I have no argument with that decision. Global financial volatility is worsening global economic uncertainty. While Australia's overall inflation is predicted to ... See all stories on this topic »

Easing consumers' household debt could boost their spending Kansas City Star Here's where the financial issue and moral hazard question wrap together. Consider that the US Federal Reserve provided $1.2 trillion — $1.2 trillion — in bridge loans to global financial institutions to get them through the credit crisis. ... See all stories on this topic »

Letter: Washington Created Economic Crisis, Unemployment Levels Patch.com By Daniel DeMaina The debt crisis occurred with many willing hands, those who DEREGULATED the banking industry, Wall Street which created exotic financial products, a complicit debt rating industry, citizens who took on excess debt, ... See all stories on this topic »

"Global Risks Are Rising, But There Is a Path to Recovery": Remarks ... United States and the IMF ... Some of the main causes of the 2008 crisis have been addressed, yet not adequately. ... Financial institutions engaged in practices that magnified, disguised and ...Today, the headline problems are sovereigns in most advanced economies, banks in Europe, and households in the United States. ... www.imf.org/external/np/speeches/2011/082711.htm

email: info@als-alexander.org or interalex2@gmail.com