Today: FINANCIAL News, Money, Banks, Economic and Financial Crisis, Oct 18, 2011

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Oct 18, 2011

FINANCIAL News, Money, Banks, Economic and Financial Crisis, Oct 18, 2011



Debt crisis: as it happened - October 17, 2011
Telegraph.co.uk
The steep rise in joblessness across our union is the most painful social symptom of this economic crisis. to do whatever is necessary to protect the financial stability of the euro zone, to restore confidence in the euro zone and in the European Union ...
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Telegraph.co.uk
Europe refuses to solve crisis, markets tumble
Zimbabwe Metro
The G20 also agreed on utilizing IMF resources to help contain Europe's woes. European officials working to address the region's financial crisis however, have rejected key recommendations from the United States and the IMF, casting doubt on whether an ...
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Financial crisis protests: the world versus the bankers
The Guardian
This is the thing though; out an' out capitalists want to retain the right and opportunity to makemoney out of thin air. You look at the sorts things out there that allow people to make money out of the financial markets ie CFD's, and various other ...
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Global powers seek stronger IMF role in euro crisis
New Zealand Herald
"Of course, even though the world has a big stake in Europe doing this effectively, Europe itself has the strongest interest," US Treasury Secretary Timothy Geithner said after a two-day meeting of G20finance ministers and central bank governors in ...
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Euro Leaders Face Important Decision On Function Of EFSF
Forbes
Banks holding Greek sovereign debt are expected to absorb substantial losses on the assets by as much as 60%, by some estimates. One proposal is to make the European Financial Stability Facility, in whatever permanent form it takes, into a bond insurer ...
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Fed approves 'living will' requirement for big banks
The Hill (blog)
That requirement, a key provision of the Dodd-Frank financial reform law, is intended to avoid the widespread confusion and haphazard actions that occurred during the recent financial crisis, in which some of the world's largest financial institutions ...
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The time for half-measures is over: Swan
ABC Online
He said it could be confronting its worst ever financial crisis. Was he more upbeat in his meeting with you? WAYNE SWAN: Well, Ali, I don't comment on the private meetings that I have with eitherfinance ministers or central bank governors, ...
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Hidden Dangers Lurking In Money-Market Funds
Wall Street Journal
By FRANCESCO GUERRERA Money-market funds—US mutual funds that buy short-term debt issued by companies, banks and governments—are supposed to be safe, cash-like investments that lead an inconspicuous life in the lower reaches of the financial system. ...
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Kristyn Wong-Tam and Stephen James Kerr: Toronto should start a bank
National Post
Toronto is currently in the throes of a spurious fiscal crisis. We are told that there is a shortfall of revenue to finance the public services that Torontonians want and need. We are told that because there is “no money,” the city has no alternative ...
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Why Occupy Wall Street? 10 Reasons Protestors Picked the Right Target
Huffington Post
In fact, though, these protesters have chosen the right target: a set of institutions and actors who not only played a central role in creating the financial crisis, but have worked to foster a more unequal US economy and democracy over recent decades ...
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Why the G-20's Summit In Cannes Cannot Fail
Wall Street Journal
Having pleaded with euro-zone policy makers to get on top of the region's twin fiscal and banking crises, US Treasury Secretary Timothy Geithner and Brazilian Finance Minister Guido Mantega both declared themselves encouraged by what they had heard. ...
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RBI & India's financial growth
The Hindu
... which in turn supported higher levels of economic growth. Also, Indian banks could remain virtually unaffected by the global turbulence during the East Asian financial crisis (1997) and the North Atlantic countries' financial meltdown (2007-08). ...
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The Hindu
Banks Start to Make More Loans
New York Times (blog)
By ERIC DASH and BEN PROTESS Despite all the bleak economic news, a funny thing has been happening in the financial industry over the last few months: the banks have quietly turned on the lending spigot. Loan growth is still modest. ...
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Regions Financial and Synovus Could Surprise This Earnings Season
MarketWatch (press release)
NEW YORK, NY, Oct 17, 2011 (MARKETWIRE via COMTEX) -- While the financial sector has been on a persistent downturn this year due to the crisis in the European banking system and continuedeconomic weakness in the United States, there have been some ...
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Citi sees no quick fix for global economy
Telegraph.co.uk
Citi was bailed out with $50bn of US taxpayers' money during the depths of thefinancial crisis. Photo: Getty Images By Richard Blackden "Macro improvement is not likely to come any time soon," Mr Pandit said in a memo to the bank's employees yesterday ...
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Telegraph.co.uk
Tackling financial risk
Fin24
Stocks slid after an initial rally after the German finance minister dashed hopes of a breakthrough at a eurozone crisis summit this weekend. Dealers cited speculation of a cross-border deal between a local company and a Canadian firm as the driver for ...
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UK economic outlook: It's time we stopped talking Britain down
Daily Mail
He was echoing comments by his deputy, Charlie Bean, who called the catastrophe following the collapse of the American investment bank Lehman Brothers in 2008 'the largest financial crisis of its kind in human history'. It is not clear why King and his ...
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Daily Mail
Colossal Eurozone financial collapse ‘highly likely’
Fresh Business Thinking
This, as Cebr senior economist explains, will lead to further quantitative easing from the Bank of England: ”Given the likely weakness of the economy, I suspect that many people will be surprised by how fast inflation falls next year. ...
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High Global Anxiety as Europe Still Has No Plan
The Fiscal Times
The EU, after all accounts for about a fifth of global economic output. The IMF was wrong, in this columnist's view, to block the emerging nations' proposal to assist the Europeans. This is everybody's economic crisis now, and all hands should have a ...
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The Fiscal Times
Chinese Economy Grows Least in 2 Years as European Demand Cools
BusinessWeek
China's Xinhua News Agency reported today that Chinese Vice Premier Wang Qishan and US Treasury Secretary Timothy Geithner discussed the global economic and financial situation and bilateral economic relations by phone. It didn't elaborate. ...
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Hedges Haunt Morgan Stanley
Wall Street Journal
The financial crisis and economic downturn hammered the value of commercial-mortgage debt. MBIA was badly wounded in 2008 after insuring too many problem assets, and the company was downgraded to "junk," or below investment-grade, ...
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Will the Dodd-Frank Bill Really Accomplish Anything?
Go Banking Rates
Even with new structures like a “central clearing house” for derivatives, not everyone is convinced that the bill will actually clean house in the way it's supposed to, or act as an effective circuit breaker if another financial crisis happens. ...
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Go Banking Rates
How the euro will divide Europe
Presseurop - English
Mooted eurozone reforms should enhance the single currency's ability to weatherfinancial crises, but will probably deepen the European Union's division into an inner core (the eurozone) and the rest, argues a Polish columnist. ...
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Presseurop - English
International financial news
Ninemsn
BRUSSELS - European Union leaders say they understand the frustration voiced by thousands of anti-austerity protesters and vowed to make the financial sector share the pain to resolve the debtcrisis. WASHINGTON - US factory output rose for a third ...
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'Commercial Banking Should Be Split From Investment Banking'
Spiegel Online
Worshipping the unfettered freedom of global markets has brought the world to the brink of ruin. We now need social and ecological rules for the market economy. SPIEGEL: You promised those three years ago, during the first financial crisis. ...
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Spiegel Online
Global Systemic Crisis: The Decimation of the Western Banks
Center for Research on Globalization
It will be accompanied, of course, by a drastic reduction in their role and importance in the global economy and directly affect banking institutions in other regions of the world and other financial operators (insurers, pension funds ...). ...
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Center for Research on Globalization

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