Today: FINANCIAL News, Money, Banks, Economic and Financial Crisis, Oct 01, 2011

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Oct 1, 2011

FINANCIAL News, Money, Banks, Economic and Financial Crisis, Oct 01, 2011


Greece: This cannot end well
CNNMoney
Then again, others warn a default could shock the global financial system at a time wheneconomic activity around the world is slowing down. Euro supporters say even a structured default by Greece could hit banks across Europe and drive up borrowing ...
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Europe In 2011 A Worse Crisis Than The US In 2008
Forbes
The European debt crisis is the most urgent crisis facing the global economy. The threat of sovereign default and the specter turbulence in financial markets as Europe's bank shares sink in a decline every bit as agonizing as the meltdown among money ...
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Economic crisis: Europe on the brink
The Week Magazine
Otherwise, Greece, and possibly other countries, might simply exit the eurozone — causing a collapse of confidence in the euro, and producing what economist Barry Eichengreen calls "the mother of all financial crises." European leaders face some very ...
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The Amish largely untouched by US financial crisis
ScrippsNews
The Amish, with their horses and buggies and their "upside-down" values, were largely unaffected by the financial crisis, living contented lives and amassing cash. "Their whole world view is based on living below their means, never ever above their ...
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Ireland Considers Using New EU Fund Too
New York Times
To cut the final bill of at least €48 billion, including interest, Finance Minister Michael Noonan may seek to exploit the euro region's debt crisis by tapping the area's expanding rescue fund. That would deliver money at lower interest rates and over ...
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Denmark to Provide Banks $72.6B Lifeline
Bloomberg
Lawmaker efforts to spur a wave of consolidation and help banks sidestep Denmark's bail-in rules have so far failed. “The expanded program is designed to supplement financial institutions' access to taking loans and thereby build a bridge to a ...
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'European Central Bank should bailout EU states directly'
RT
It is those who benefit from the ongoing economic crisis, and not the population, who shouldfinance the European bailouts, he added. “You just have to face the question, 'who is financing that [bailout] program?', and basically those who benefit from ...
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FSA Chief Launches Fresh Broadside at Banks
LoanSafe
He said that while investment banking activities, or so-called “casino” operations, had taken much of the blame for creating the financial crisis, traditional lending had also been a big contributor. The British Bankers' Association said: “Our own ...
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Canada Dollar Drop Is Largest in Almost Three Years on Economy
BusinessWeek
Crude oil, Canada's largest export, posted its largest quarterly decline in New York since the 2008financial crisis, 17 percent, as signs of slowing growth in China, the US and Germany heightened concerns that fuel demand will suffer. ...
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Analysis: Greek banks face nationalization if haircut too severe
Reuters
If Greek banks were to take a 50 percent haircut on 40 billion euros of government paper, it would mean an after-tax writedown of about 16 billion euros. Subtracting this writedown from an aggregate Core Tier 1 capital -- a measure of banks' financial ...
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Africa: They've Tried Everything - What Now?
AllAfrica.com
So the cheaper money just fuels the frenzy of financial speculation and the trading in debt further. In Europe, Italy and Spain have joined Ireland and Greece in the debt crisis. In Greece unemployment is approaching 900000 and is projected to exceed ...
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Guide for Nervous Investors: What to Track in October
CNBC.com
Stocks closed out their worst quarter since the financial crisis, but it might be too early for investors to breathe a sigh of relief, as volatility will likely continue. The ongoing developments in the euro zone and US deficit talks will continue to ...
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The Coming Euro Bail
Business Insider
Cash for the bailout would be funneled through instrumentalities such as the European Central Bank, the European Financial Stability Facility, and the European Investment Bank. This development is to be welcomed. Until recently, many authorities in ...
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Global wealth industry still battered by headwinds
Reuters
Since the 2008-2009 financial crisis, many wealth managers have suffered a double whammy of rising regulatory costs and increasingly cautious clients keeping moremoney in low risk - and low margin - investments or cash. Cost-to-income ratios across ...
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Reuters
A Summer Many Investors Would Rather Forget
ABC News
Money managers sifted through data for signs that the economy was about to slide into a new recession. In the financial markets, the result was the most volatile three months since the depths of the credit crisis in 2008 and 2009. ...
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Talk of the day-- Fearing slump, central bank holds rates steady
Focus Taiwan News Channel
Economic Daily News: "The global economic and financial situation is at risk of falling into a vicious circle," warned the central bank on the first page of its brief report on the current global economic situation, which it distributed to reporters ...
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Focus Taiwan News Channel
Bank of America Adds Monthly Debit Card Fee, Risking Public Ire
PBS NewsHour
JEFFREY BROWN: Big banks and the question of their profits have been the source of plenty of public anger since the beginning of the financial crisis. Now new fees for consumers are putting them in the spotlight again. Swiping a debit card is about to ...
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Can Fed's Operation Twist Reverse Sliding Economy?
AdvisorOne
By Ron DeLegge, ETFguide.com Since the onset of the financial crisis, large-scale financialmaneuvering by the Federal Reserve has become routine. After its two-day meeting in mid-September, the Fed unveiled its latest plan to reshuffle its ...
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Cracked China?
CounterPunch
(“The Shadow Banking Problem in China,” Credit Writedowns) The unsupervised expansion of credit is at the heart of all financial crises. China is no exception. The impending implosion in China is likely to send tremors across the global economy pushing ...
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Analysis: Brokers miffed as banks seek cross sales
Fox Business
Her departure fueled worries that without her advocacy, BofA would turn financial advisers into a sales arm for the bank. Banks are being squeezed by a sluggish economy and post-crisisregulation to rein in lucrative sources of fee income. ...
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EDITORIAL: APC: an exercise in futility
Pakistan Daily Times
The current economic indicators reinforce the analysts' opinion that after some time Pakistan will have no choice but to go back to the IMF again seeking a new financial assistance plan. However, the negotiations will not be easy for it sans the US's ...
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'Drinking poison' in order to survive: Political developments in Europe's debt ...
Globe and Mail
In Rome, Italians were aghast at the sight of a government falling apart at exactly the wrong moment – buffeted not only by the pressures of the financial crisis, but by half a dozen criminal and sex-related legal investigations facing Prime Minister ...
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Globe and Mail
Hedge funds keep delivering in tough times
The Australian
Australian institutions' interest in hedge funds is at record levels as investors seek strategies for some of the most volatile conditions since the global financial crisis, brokers say. Morgan Stanley says hedge funds' assets under management globally ...
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Investors looking for shelter in the storm
NewsOK.com
Our economy is better than people think it is.” Friday marked the end of the worst quarter for stocks since the depths of the financial crisis in 2008. No surprise then that few Oklahoma-based publicly traded companies managed to post gains over the ...
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Treasurys Book Best Quarter Since '08
Wall Street Journal
By MIN ZENG NEW YORK—US Treasurys ended an epic quarter on a high note, posting the biggest quarterly gains since the height of the 2008 financial crisis, as worries about the global economyfueled a rush into safe assets. The 30-year bond continued ...
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States to Financially Break Away from Federal Government
Gold Seek
The challenge before our nation today–our moment in history–is not merely a financial or economicor political or legal / Constitutional crisis. It is also, and primarily, a moral crisis that could literally destroy the United States of America and all ...
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Scott Gardner: Europe's Debt Crisis and Its Effect on Gold
Jutia Group
Scott Gardner: First off, you say that there's enough money, but I think that a lack of money is the primary concern. The European Financial Stability Fund has something like €440B in committed capital and the members haven't agreed upon future funding ...
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Beijing's Response to Default Will Be Key
Wall Street Journal (blog)
The importance of China was illustrated during the financial crisis in 2008, when with its economyexpanding at 10%, the country was instrumental in dragging the world out of recession. The world recovery has faltered again. But as a recession looms, ...
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Watchdog: Pressured by Banks, Federal Regulators Bent TARP Rules
Slate Magazine
... the banks in late 2009 and relaxed requirements put in place only weeks earlier out of a desire to cut the government's stake in the banks it had bailed out in September of 2008, when the financial crisis hit Wall Street and rocked the US economy. ...
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Notes From The DoubleLine Lunch With Jeffrey Gundlach
CNN
On Asset Allocation for the Ultra High Net Worth: Jeffrey says his own assets are now 2/3rd's outside of the "financial system" other than his ownership stake in DoubleLine. This means fine art, gold, gemstones, rental property etc. he says Ultra ...
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Downgrade could hit mortgage rates
New Zealand Herald
S&P said this country's strengths - including economic resilience and a sound financial sector - were offset by high foreign, household and agriculture sector debt, a dependence on the commodity sector and fiscal pressures associated with an ageing ...
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Tim Geithner: The Forrest Gump of World Finance
Big Government
German politicians don't really want to give money to the Greeks and Portuguese. The real story of the bailouts is that politicians from rich nations are trying to indirectly protect their banks, which – as shown in this chart – are in financial ...
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The EU Expects 57 Billion Euros a Year from a New Financial Tax
Cause and Effect in European Politics and Economy
As a reason to propose the FTT, the Commission points out that during the crisissaving the European banks has cost governments 4.6 trillion euros. Now, in turn,financial institutions must make "a fair contribution to the cost of the crisis. ...
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Cause and Effect in European Politics and Economy
DJIA, S&P, NASDAQ Plunge as 3rd Quarter Ends on Sour Note
The State Column
This is due in part to ongoing troubles in Europe over Greek's debt crisis and Europe's debt-laden banks. However, August was a tumultuous time for the financial markets as the destabilizing nature of the debt ceiling crisis forced Standard & Poor's to ...
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The State Column
Small business plea to banks
Norfolk Eastern Daily Press
The meeting came as figures from the British Bankers' Association show lending to small businesses has plunged to nearly half of what it was before the financial crisis. Last month research fromNorwich Business School, on behalf of economic ...
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I Hear You, Occupy Wall Street
Huffington Post (blog)
The myth of the meritocracy of financial genius is perpetuated by horserace coverage of wealth, such as the Forbes 400 list. Here the accumulation of money is more than lauded; it is mythologized. Success has become so equated with money that critical ...
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Chart Of The Week - Managing Emotions In Today's Marketplace
Daily Markets
The markets are certainly volatile these days: one week it's an impending Greek default, followed by a European downgrade coupled with a financial banking crisis, but it's not all doom and gloom. The market's many moods are difficult for any seasoned ...
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IMF Survey: Regulators Identify Data Needs to Track Shadow Banks
In the wake of the global financial crisis, regulators agree that they need to know ... IMFSurvey Magazine: In the News ... Yet they noted that risk that these so- called shadow banks—such as insurance companies, money market funds, hedge ... the coverage of nonbank financial institutions in economic and financial statistics. ...
www.imf.org/external/pubs/ft/survey/so/.../new092911b.htm

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