Today: FINANCIAL News, Money, Banks, Economic and Financial Crisis, Sep 25, 2011

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Sep 25, 2011

FINANCIAL News, Money, Banks, Economic and Financial Crisis, Sep 25, 2011

Europe aims to beef up crisis fund, world urges action
Reuters
"Decisions as to how to conclusively address the region's problems cannot wait until the crisis gets more severe," Geithner said. His warning was echoed by China's central bank governor, Zhou Xiaochuan, who urged quick action to bring greater financial ...
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Euro crisis: three perspectives
CNN
European leaders must convince voters to help the troubled euro area nations overcome their moneyproblems. "The alternative is a breakdown of the global financial system, a real meltdown," he said. The process has been evolving since the collapse of ...
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BRICS struggle again to act together
Reuters
But the meeting produced only a vague statement that they were "open to consider, if necessary, providing support through the IMF or other international financial institutions ... depending on individual country circumstances." India's central bank ...
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China urges eurozone to end debt crisis
AFP
The central bank governor of the world's second-largest economy noted the globalfinancial crisis originated in a "few advanced economies." He did not name the United States and its massive debt and deficits problems. Though the US financial woes, ...
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AFP
Canada presses for one-trillion euro bailout fund at IMF
Vancouver Sun
Global financial markets fell to 14-month lows last week as anxiety grew about the possibility the global economy was heading into double-dip recession territory. New York University economist Nouriel Roubini, who predicted the 2008 financial crisis ...
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What the world needs now is a demand-driven economic and financial boost
Daily Monitor
Central bankers, finance ministers, economists and bankers will gather in Washington for the annual meetings of the International Monetary Fund and World Bank. These meetings occur in an environment of a divided and disconnected world that is facing ...
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IMF and World Bank meetings focus on downturn and debt crisis, but gender ...
The Guardian
Finance ministers from western countries would jet into Washington, spend half an hour slapping each other on the back about how well things were going, then turn their attention to the problems of sub-Saharan Africa. Now, with the global economy on ...
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The Guardian
Rethinking the World Bank behavior is necessary: Iran
Tehran Times
I am delighted to deliver my speech at the World Bank- IMF Annual Meetings, 2011. These meetings are held at a juncture that we still see the negative consequences of the global crisis on theeconomic and financial environment. ...
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We are facing global political gridlock: Swan
ABC Online
There's no doubt that what we are now living with is basically the scars from the global financial crisis and the global recession which have surfaced now in Europe in terms of the sovereign debt concerns which are impacting on the banking system. ...
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Osborne forced to deny there is plan to let the Greeks default on debts
Daily Mail
In the informal briefing at a restaurant in Washington – where the World Bank and International Monetary Fund are devising strategies to cope with the financial crisis – the official admitted that Greece's creditors would lose half of their money, ...
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Daily Mail
OECD Chief: Backs Global Facility To Guarantee Bank Debt
Fox Business
World financial leaders compose the committee. Gurria said that the IMF still has some capacity to address the problems in Europe in the short term, though the world can't "simply throw money" at the problem as it did in 2008. ...
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Rogue Trading Leads UBS Chief to Resign
New York Times
The biggest banks, advocates of tighter regulation maintain, still do not have their risks under control and have not learned the lessons of the 2008 financial crisis. The chairman of UBS, Kaspar Villiger, said the top priority for the bank was to ...
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New York Times
Kudrin Says High Oil Prices Top Cause of Russia's Capital Flight
Bloomberg
Net private capital outflows over the period reached $31.2 billion, according to preliminary centralbank data. Most of the cash leaving Russia is “hot money” from speculators, Deputy FinanceMinister Sergei Storchak said Sept. 22. ...
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Getting lost on a road to nowhere
Irish Independent
By Colm McCarthy A FURTHER week of indecision and weakening confidence in European political and financial leaders has brought resolution of the banking crisis no nearer. But the fault-lines are opening up between a new alliance of the IMF and the US ...
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Global markets buckle on fears of new financial meltdown
Los Angeles Times
(Brendan McDermid, Reuters) The strain of deteriorating economic conditions and the failure of governments to contain the damage are raising fears that a new financialmarket meltdown may be unavoidable. The grim mood was evident worldwide as a cascade ...
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Los Angeles Times
Liberating nations from public debt
Aljazeera.net
For example, in response to the latest economic and financial crises, the US government spent more than $1.5tn to bail out banks and to stimulate its economy - and the Federal Reserve lowered interest rates to near zero without any discernible results. ...
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Aljazeera.net
No outright solution to world economy
gulfnews.com
Earlier in the week, the Federal Reserve had announced that it would engage in another bout of arcane financial engineering in an effort to stimulate the US economy with cheap money. However, investors are not convinced that the $400 billion (Dh1.47 ...
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Financial policy committee to warn of effects of worsening eurozone crisis
The Guardian
After its first meeting, in June, the financial policy committee (FPC) warned that the eurozone crisis was the "most serious and immediate" threat to the banking system but also highlighted concerns that banks might be hiding the extent of their losses ...
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The Guardian
Renaissance Florence is not far from today's financial crisis
Taipei Times
... the financial capital of its day. “Money and Beauty: Bankers, Botticelli and the Bonfire of the Vanities,” an exhibition in the Tuscan capital running until Jan. 22, narrates the birth of the modernbanking system and the roots of our economy ...
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Meltdown fears for euro as G20 makes plans for Athens to default on debt
The Independent
One of the plans being discussed is for the European Financial Stability Fund (EFSF) to be strengthened, possibly by guaranteeing bigger European Central Bank purchases of Spanish and Italian sovereign debt to try to insulate them from the Greek crisis ...
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The euro crisis demands leadership, wherever it comes from
The Guardian
Who would have thought three years ago that the world's financial system would have been so transformed that big banks were nationalised? Likewise, we need co-ordinated, outside-the-box action to avoid serious risk of a long-term energy crisis. ...
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The Guardian
Schools raise the bar for financial education
Minneapolis Star Tribune
The financial crisis changed that. "I think parents and school board members, they just thought 'How can we have kids graduate and not really know how to maneuver their finances?' The urgency of it really spiked," Braaten said. ...
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The unexamined crisis
Gulf Times
Unfortunately, few of those pages address any problem suspected to have caused thefinancial crisis. Bond investors' heavy reliance on credit-rating agencies, which tend to be laxer with powerful issuers, has not been fixed. The shadow banking sector's ...
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Gulf Times
Nouriel Roubini: World 'Running Out Of Policy Bullets' To Combat Recession
Huffington Post
Very little has changed since Paul Volker was called upon in late 2008 to explain the "first" financial crisis. "There not enough MONEY to make the debt-service payments that are due". Then we poured in many Trillions of government / central bank ...
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Financial Destabilization, Credit Default Swaps (CDS) and the Rating Agencies
Center for Research on Globalization
The CADTM interviewed Eric Toussaint about various facets of this new stage in thecrisis. CADTM: You haven't talked about Credit Default Swaps (CDSs) yet. Eric Toussaint: CDSs are a derivative financial product which is not submitted to any form of ...
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Center for Research on Globalization
The Clico offer: When is 92 cents not 92 cents?
Trinidad & Tobago Express
Whilst the threat of contagion was stopped by the previous regime, there remained lingering uncertainty which led to a loss of confidence in the economy even if the financial system remained stable. Financial crises have three stages. ...
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Tesco emerges as unlikely provider of silver lining to Britain's cash-strapped ...
This is Money
In banking it was just five per cent. The low switching rate is despite the fact thatbanks remain one of the least popular sectors among the public following numerous mis-selling scandals and the banks' role in the financial crisis. ...
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This is Money
Review
Barron's
One of the Fed's mandates is employment, but based on its actions since the global financial crisis, you wouldn't know that. So say economists from the American Institute for EconomicResearch in Great Barrington, Mass. Their analysis shows that the ...
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Seeing Through the Illusion of Money: Challenging The Money Power
Center for Research on Globalization
In the midst of a depressed economy with low loan demand, the central bank is exacerbating the financial crisis. Why? In my view, the Fed's policy is nothing more than a backdoor bailout for the Wall Street mega-banks and investment houses. ...
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Center for Research on Globalization
Money Leaving Asia, Bargains for the Brave
Live Trading News
The sudden outflow of liquidity has reminded some of what happened in the build-up to the 1997 Asian Financial Crisis. The capital flight fuelled spectacular crashes in stock and property markets in the region. Sharp devaluations in Asian currencies ...
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Live Trading News
Can China save the world again?
CTV.ca
For those who once questioned the rising power and influence of China on the world economicstage, the 2008 global financial crisis laid any doubts to rest. As stocks plunged, credit markets froze and major financial institutions collapsed, ...
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A Perspective On The Plunge In Gold and Silver
Gold and Silver Blog (blog)
“Europe is not going to save the US economy, but it could be the straw that breaks it.” Kenneth Rogoff, a Harvard economist who has written about the history of financial crises, puts Europe's effect on the United States in blunt political terms. ...
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Gold and Silver Blog (blog)
Sovereign-debt 'spiral' seen imperiling Europe
MarketWatch
Finance ministers and central bank governors of the Group of 20 major economies say they will work in a coordinated fashion to put an end to the latest financial crisis engulfing Europe. See full story. The more capital governments require for banks to ...
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Leading article: Where's Gordon Brown when you need him?
The Independent
Mr Brown showed some of that in 2008-09, with his Chancellor, Alistair Darling, as American and British financial institutions fell like dominoes. He acted decisively to "save the world", as he put it, by nationalising British banks and pumping money ...
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David Cameron finds right alignment in Canada
The Guardian
Cameron hit home ideas that have become familiar tropes for the Harper Conservatives: the threat of the global economic crisis to the success of Canadian private enterprise; the dangers of Islamist extremism, dampened by Canada's role in Nato missions ...
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The Guardian
Falling rupee: Do NRIs really gain?
Arab News
Once the rupee breached the 49 level, the Reserve Bank of India (RBI) intervened but could not stop the slide. All this is bad news for Indian economy even as Indian expatriates rejoice. NRIs may have more money in their hands, but investors and their ...
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Hero in the wings
New Zealand Herald
But the public mood is turning ugly on both sides of the Atlantic as growth fails to fire and the realisation sets in that financial market volatility, often caused by heavy trading by hedge funds andbanks, is a factor in the economic slump. ...
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Roubini: “The double dip has started.”
The League of Ordinary Gentlemen
by Elias Isquith on September 24, 2011 The odds have risen sharply this week of a fresh financial crisis that will plunge the global economy into a major depression, as policymakers fall far short of the radical measures needed to address the fast ...
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GOP: We need a 'time out' from regulations
CNN (blog)
Wasn't it a lack of regulation and oversight that lead to the financial crisis which precipitated the worst economic crisis since the Great Depression??? Where can I read the 845 new regulations that "might" go into effect. The real reason businesses ...
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A tough week for commodities, stocks and our dollar
Vancouver Sun
There are no easy solutions to the problems facing the global economy. With governments maxed out on debt and interest rates near zero in most advanced economies, finance ministers and centralbanks have few tools at their disposal. ...
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Grim future for US economy
Press TV
Moody's explained its decision saying that the federal government is “more likely now than during the financial crisis to allow a large bank to fail should it become financially troubled, as the risks of contagion become less acute. ...
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Press TV
Russian benchmark index slides for 2nd day
eTaiwan News
Economic Development Minister Elvira Nabiullina on Friday reassured investors that financialauthorities are taking "necessary measures" to offset the slump on the markets. VTB Capital's Achkasov commended the Russian Central Bank on its policy of ...
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A Market in the Twilight Zone
Barron's
... among European banks will remain an overhang on risk appetites. Maybe it will take a truly radicalfinancial-market tantrum to focus political and central-banker attention on the prospect of overwhelming money printing to buffer this crisis. ...
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Morgan Stanley Had A $55 Billion Exposure In Late 2009
Forbes
MS stock had plummeted to a low of $10 a share in October, 2008– down from a peak of $90 a share in July, 2008– before the financial crisis was in full bloom. This extraordinary gap in protecting speculative trading positions in 2009 should alert the ...
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Financial crisis: time to drop the banks? — RT
By RT
The UK Chancellor says the eurozone nations have only six weeks to work out measures to prevent a looming financial disaster. Experts tell RT that in order to ... Go to main page News Financial crisis: time to drop the banks? MORE ON THE ...
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IMF Survey: Global Financial System Risks Escalate
Financial stability risks have risen sharply in recent months, as slower economic growth, ... “We are in the middle of a crisis of confidence, which is taking its toll on both the ... Financial Counsellor and head of the IMF”s Monetary and Capital Markets ... about the financial health of governments in advanced economies, banks in ...
www.imf.org/external/pubs/ft/survey/so/.../new092111a.htm
IMF debt crisis in the European banking industry to ... - Finance online
Financial Forum - Investing, Personal Finance - Finance Online Forums ... Fed “ take small steps” against the Republican intervention in the economy down the interest rate · Del allegedly inflated profits home ... Money Talk :: Finance Forums- Investing, Personal Finance. Finance-ol.com: Home>>Financial News>> Reading ...
www.finance-ol.com/.../imf-debt-crisis-in-the-european-banki...

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