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| US Banks Can't Hide From Europe's Debt Crisis NPR "This threatens financial stability in the EU as a whole and adversely impacts the realeconomy in Europe and beyond," Trichet said this week. It would be nice to put a number on the amount of money the US has at stake in European financial ... See all stories on this topic » | ||
| A standby program for the eurozone CNN (blog) A glimmer of hope is Europe's willingness to use the European Financial Stability Facility (EFSF) imaginatively – as equity or first-loss cover. Clearly, some of the EFSF funds will have to go to recapitalize banks that cannot raise money from the ... See all stories on this topic » | ||
| EU executive wants voluntary bank deal on Greece Forbes The negotiations on writedowns on Greek banks are central to a broader push within the eurozone to find a solution to its escalating debt crisis. They go hand in hand with plans to force big banks in Europe to add to their financial cushions so they ... See all stories on this topic » | ||
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| French socialist wants banks recapitalised Reuters ... recapitalize banks so that taxpayers can benefit when the financial crisis ends. Jerome Cahuzac, head of the parliament finance committee, is a long-time ally of former IMF chief Dominique Strauss-Kahn and has rallied the camp of Francois Hollande, ... See all stories on this topic » | ||
| Lessons European Union needs to learn from Brazil The Korea Herald SAO PAULO ― For those of us in developing countries who over the years became reluctant experts on the subject of financial crises, the latest wave of turmoil in the global financial system is, regrettably, not a surprise. ... See all stories on this topic » | ||
| Geithner in Paris Will Tell European Counterparts to Move Fast BusinessWeek Geithner, 50, will attend the Group of 20 finance ministers meeting starting tomorrow in Paris. The crisis has pushed Greece to the brink of default, shaken world markets and fueled speculation the 17-nation euro currency might not survive in its ... See all stories on this topic » | ||
| ECB Monthly Bulletin Editorial for October (Text) Bloomberg Ongoing tensions in financial markets and unfavourable effects on financing conditions are likely to dampen the pace of economic growth in the euro area in the second half of this year. The economic outlook remains subject to particularly high ... See all stories on this topic » | ||
| 'Volcker Rule': SEC OKs ban on banks trading for own profit USA Today For years, banks bet on risky investments with their own money. But when those bets go bad and banks fail, taxpayers may have to bail them out. That happened during the 2008 financial crisis. Under the proposal, banks must hold investments for more ... See all stories on this topic » | ||
| Lack of Leadership Responsible for Economic Crisis NewsMax.com The banks no longer trust each other and, during the past week, prices of insurance policies to protect investors in the event that credit institutions go bankrupt have soared to the highest levels ever observed." The London Financial Times anchored ... See all stories on this topic » | ||
| Investors' Trust in China's Government Falters New York Times Equities jumped 10 percent on the day three years ago when China said it would buy upbank shares in the market. They barely budged after a similar announcement on Monday. The difference is credibility. A sustained financial crisis has shown that ... See all stories on this topic » | ||
| EU debt crisis not just a eurozone issue: Sweden's Borg MSN Philippines News (So) if we don't get stability in the European banking system that could also cause big problems in Sweden," Borg said. Europe's banking system is being hammered in the current crisis as eurozone leaders scramble to boost the European Financial ... See all stories on this topic » | ||
| Bean Joins Colleagues Keeping Option for More BOE Purchases BusinessWeek The central bank noted “severe strains” in bank funding markets and Governor Mervyn King said the move was a response to what may be the worst financial crisis ever. Policy maker Adam Posen told Bloomberg Television in an Oct. 11 interview that the MPC ... See all stories on this topic » | ||
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| Nigeria: Wami - Paving the Way for Financial Integration AllAfrica.com For instance, central bank chiefs in Africa recently emphasised the need for greater cooperation in developing strategies to enhance their regulatory functions and enable them meet the challenges of intervention in financial and economic crises on the ... See all stories on this topic » | ||
| BlackRock CEO wants $2 trillion European bank plan MarketWatch ... has called on European governments to inject up to $2 trillion of public and privatemoney into Europe's banking system because "incrementalism isn't working". Fink gave his views on the eurozone crisis at last night's Financial News' Awards for ... See all stories on this topic » | ||
| Deutsche Bank questions recapitalization strategy Deutsche Welle Barroso said banks should first try to tap the private market to increase their capital, if necessary with government support. If such support was unavailable, he said, the eurozone's rescue fund, the European Financial Stability Facility (EFSF) could ... See all stories on this topic » | ||
| Wall Street banks are learning that the U word is here to stay Telegraph.co.uk (blog) As a brief recap, the Volcker Rule was part of last summer's Dodd Frank financialreform legislation and bans US banks from making bets with their money and imposes tight limits on the amount of capital they can invest in hedge funds and private equity ... See all stories on this topic » | ||
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| EU presses banks to beef up coffers Ninemsn EU leaders had pressed for a new vote in the wake of warnings from the United States and China for Europe to get its house in order quickly for the sake of a weakening globaleconomy. "The world economy is heavily affected by the financial crisis and ... See all stories on this topic » | ||
| German FinMin says may have to reduce Greek debt Reuters BERLIN (Reuters) - Greece's overall debt level must be reduced enough to give the country a better outlook if it is seen as unsustainable, German Finance Minister Wolfgang Schaeuble said on Wednesday. Euro zone countries may ask banks to accept losses ... See all stories on this topic » | ||
| Wenzhou City Mulls Comprehensive Financial Reform Middle East North Africa Financial Network Zhejiang provincial government together with China Banking Regulatory Commission Zhejiang Bureau and the People's Bank of China are studying and improving Wenzhou's scheme for financial reform experimental zone and then will submit it to the superior ... See all stories on this topic » | ||
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| German Stocks Fall for First Day in Seven; Deutsche Bank Drops BusinessWeek Deutsche Bank will “do everything” not to take money from the state as part of assistance efforts for the European financial sector, Chief Executive Officer Josef Ackermann said today in a speech in Berlin. Smaller rival Commerzbank AG declined 4.5 ... See all stories on this topic » | ||
| Taxpayer nursing huge losses on RBS and Lloyds The Guardian (blog) The meltdown in the financial markets and the impact of the report by the independent commission on banking to "ringfence" high street banks is being blamed for the fall in the share prices. The terms of the bailout were announced on 13 October 2008 ... See all stories on this topic » | ||
| Big Trouble Brewing Gold Seek It will spread everywhere because the global financial system is so interconnected, all those banks are counterparties to every significant bank in the US and in Britain, and in Japan and around the world. This would be a crisis, in my view, ... See all stories on this topic » | ||
| Watching the boom, preventing the bust Business Spectator Not surprisingly, the financial crisis has prompted central banks and bank regulators to try to find ways to stop the animal spirits from partying quite so hard in future. Luci Ellis, who runs the Reserve Bank's financial stability area, says that this ... See all stories on this topic » | ||
| China sees Wenzhou lending crisis snowball MarketWatch Caixin is a Beijing-based media group dedicated to providing high-quality and authoritative financial and business news and information through periodicals, online and TV/video programs. It's a tight financial network that interweaves lenders and ... See all stories on this topic » | ||
| WSJ: European Stocks Rise On Optimism Over Euro-Zone Debt Plan Wall Street Journal By Ishaq Siddiqi European stock markets rose Wednesday, with financial shares leading the gains, on rising expectations that policy makers can work out a viable plan to stem the euro-zone debt crisis much sooner than previously thought. ... See all stories on this topic » | ||
| PRESS DIGEST-Australian Business News - Oct 13 Reuters "International engagement is just as important now as it was at the height of the globalfinancial crisis," he added. Elsewhere, Westpac Banking Corporation's chief economist, Bill Evans, said the benefits of the resources boom for the broadereconomy ... See all stories on this topic » | ||
| NOC calls on Minneapolis Public Schools to Divest from Wells Fargo The UpTake MN Neighborhoods Organizing for Change (NOC) and a host of North Minneapolis activists yesterday called on Minneapolis Public Schools (MPS) to divest money from Wells Fargo Bank, which they say has exacerbated the mortgage foreclosure crisis ... See all stories on this topic » | ||
| SEC backs ban on banks trading for own profit BusinessWeek For years, banks bet on risky investments with their own money. But when those bets go bad and banks fail, taxpayers may have to bail them out. That happened during the 2008 financial crisis. Under the proposal, banks must hold investments for more ... See all stories on this topic » | ||
| Occupy Wall Street comes to Palo Alto San Jose Mercury News "They got $45 billion in bailout money," George said, motioning to the Bank of America behind him, "and they continue to evict people from their homes." Laurie Boyle, 47, of San Jose said the financial crisis has hit close to home with friends out of ... See all stories on this topic » | ||
| Junk Enters Distress as Yields Soar to Highest Since 2009: Credit Markets Bloomberg Bond yields are rising as the sovereign-debt crisis poses threats to the financialsystem. “Sovereign stress” has moved from Europe's smaller economies to some of its larger countries, Trichet warned lawmakers in Brussels yesterday. ... See all stories on this topic » | ||
| Junk Enters Distress as Yields Highest Since '09: Credit Markets BusinessWeek Bond yields are rising as the sovereign-debt crisis poses threats to the financialsystem. “Sovereign stress” has moved from Europe's smaller economies to some of its larger countries, Trichet warned lawmakers in Brussels yesterday. ... See all stories on this topic » | ||
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| Factbox: Fed discussed possible tools to aid economy further Reuters After having pushed overnight interest rates to near zero in December 2008, the Fed launched two bond-buying programs that more than tripled the Fed's balance sheet to $2.8 trillion from its size before the 2007-09 financial crisis. ... See all stories on this topic » | ||
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| Families relying on more money smarts Asbury Park Press The Edina, Minn., couple were living off the dividends from financial stocks, such as Wells Fargo, figuring they were ultra-safe. Then those stocks cratered in the financial crisis, the dividends disappeared and their portfolio shrank by 60 percent ... See all stories on this topic » | ||
| California Dems blast Obama on foreclosure crisis San Francisco Chronicle "The banks are going to eat a loss," Lofgren said. "The only question is when. Deferring action on taking the losses is putting the entire economy at risk." Lofgren said the recommended actions would not cost taxpayers any money and would allow ... See all stories on this topic » | ||
| Wall Street protests: A long American tradition Los Angeles Times In the first half of the 19th century, followers of Andrew Jackson inveighed against the Second Bank of the United States, otherwise known as "the monster bank." They feared the bank was part of a systematic monopolizing of financial resources by a ... See all stories on this topic » | ||
| The world needs a true gold standard San Francisco Examiner Today, the economic crisis we endure is only the latest chapter in the century-long struggle to restore financial order — which is inextricably bound up with American prosperity and the promise of the American way of life. Between 2009 and 2011, ... See all stories on this topic » | ||
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| U.S. Banks Can't Hide From Europe's Debt Crisis | KOSU Radio By KOSU News Filed by KOSU News in US News. October 13, 2011. For months now, Europe's debtcrisis has hung ominously over the U.S. markets and economy. But even as U.S.banks begin lessening their investments in ... “U.S. financial institutions, including our major banks and the money markets as a group, have substantially reduced their exposure to the economies of Europe that have been under the most pressure,” Geithner said. Jacob Kirkegaard, a fellow at the Peterson Institute for ... KOSU Radio |
| Europe's day of reckoning on its financial crisis is at hand But the can-kicking gold goes to Europe, for its inconclusive reaction to financial andeconomic problems that, if anything, pose far clearer and more ... www.washingtonpost.com/.../gIQAGHnldL_story.html |
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