FINANCIAL News, Money, Banks, Economic and Financial Crisis, Oct 23, 2011

European Leaders Open Last-Ditch Push to End Debt Crisis, Safeguard Banks Bloomberg A special-purpose vehicle was also discussed at this month's meeting of the Group of 20 finance ministers and central bankers. It would be run by the IMF as a way to channel loans from countries such as China and Brazil. “To be able to do this we'd ... See all stories on this topic » Bloomberg

European Finance Ministers Fall Short of Final Bank Plan Wall Street Journal The bank recapitalization plan was expected to be the easiest of the three main items on the ministers' agenda, which also includes the size of private sector writedowns of Greek debt and what to do with the European Financial Stability Facility. ... See all stories on this topic » Wall Street Journal

Did Lord Turner want to force 'living wills' on small banks? The Independent By Mark Leftly The country's smallest banks have barely a fortnight to flag their concerns over a burdensome piece of regulation designed for the big institutions that caused the financial crisis. TheFinancial Services Authority (FSA) has set a 9 ... See all stories on this topic »

Mark Carney on a mission: First Canada, now the world CTV.ca Mr. Carney wants to find a way to structure the financial system so that a poorly-run large bankcould go out of business without creating an economic crisis. As part of that, Mr. Carney is also an advocate of cleaning up the system of trading ... See all stories on this topic »

Bank's Collapse in Europe Points to Global Risks StarNewsOnline.com As Europe's debt crisis has deepened, a recurring question is how much risk it poses to the United States economy, and especially American banks. While American financial institutions have sought to limit any damage by reducing their loans and thus ... See all stories on this topic »

Euro rescue deal fudge to cause market meltdown Irish Independent By LOUISE McBRIDE Europe faces the prospect of further credit rating downgrades and stock market falls if a viable deal to resolve the European debt crisis is not ironed out this week, financialexperts have warned. However, even if a deal is agreed, ... See all stories on this topic »

China signals irritation as Europe stares into the financial abyss Telegraph.co.uk And now, having used Western Europe as an economic laboratory, the single currency's architects need to admit that their hubristic experiment has gone very badly wrong. Decisive action is needed to stabilise financial markets. ... See all stories on this topic » Telegraph.co.uk

Banks cannot rely on taxpayer cash - Swedish finmin Reuters India EU officials say almost 100 billion euros is required to shore up the region's bankingsystem. Banks that cannot raise money on the markets will have to turn to national governments, and finally to the European Financial Stability Facility (EFSF). ... See all stories on this topic » Reuters India

Unravelling financial crisis Business Line The housing market was linked to the investment banks and ultimately to the newly globalisedfinancial system, and when the thread was pulled, everything began to unravel.” The author is aghast that even those in the top echelon of the US economy ... See all stories on this topic »

Eurozone crisis will be solved – eventually – insists FSA's Lord Turner The Guardian Mervyn is Sir Mervyn King, governor of the Bank of England, who, when justifying undertaking £75bn of extra quantitative easing earlier this month, described the currentfinancial crisis as the worst in history. Turner sits with King on the financial ... See all stories on this topic » The Guardian

Will 'Helicopter Kim' be available in S. Korea? Xinhua The Bank of Korea (BOK), South Korea's central bank, learned a lesson from the crisis about the very importance of a central bank's role in stabilizing financial systems and boosting realeconomy. Securing financial stability would be added to the ... See all stories on this topic »

Brian Lenihan: A man imbued with hope and courage Irish Independent The financial world was about to collapse, the banks of Ireland with it, and, here at home, a novicefinance minister was in charge, newly appointed to the Government of a decadent age. Perhaps the most enduring impression of Brian Lenihan back then ... See all stories on this topic »

Is Greece A 'Failed State'? International Business Times “What makes the current scenario even worse, and probably insoluble, is that the present economic and financial crisis has been caused chiefly by an enormous political crisis,” Pappas said. “It is politics that have, in the first place, led Greece to ... See all stories on this topic » International Business Times

Invest in smaller companies for bigger returns Telegraph.co.uk Before this credit boom, James Maltin of Rathbones points to research published in the Journal of Financial Economics in November 1981, showing that from 1926 until 1980 the smallest stocks listed on the New York Stock Exchange outperformed the largest... See all stories on this topic » Telegraph.co.uk

The Epileptic Economy: Why the Financial System Suffers from a Mental Illness Big Think (blog) Mark Roeder is an ex-senior executive of UBS Bank and the author of The Big Mo: Why Momentum Rules Our World. In this guest post, he explores what recent discoveries in neurobiology can tell us about the causes of the financial crisis - and how to ... See all stories on this topic »

Spending Smart: Crowning a banking champ St. Augustine Record ROUND 5: OWNERSHIP: Big banks are obligated to make as much money as they can for shareholders, which often is on the backs of customers. And if you're mad at big banks for their role in the financial crisis, ownership of your bank matters. ... See all stories on this topic »

Higher bank fees here to stay Pueblo Chieftain They come in the midst of a tough economic climate where millions of people are unemployed. Some say the fees are a callous response by banks that were bailed out during the financial crisis.On Monday, activists gathered in Burnside Park in downtown ... See all stories on this topic »

Contra Costa Times/Oakland Tribune California Perspective: Hope, then anger ... Contra Costa Times For my own guidance on that issue, I sought out the Californian who knows as much as anyone about the origins of the financial crisis that triggered the 2008 recession from which the worldeconomy has yet to meaningfully recover. ... See all stories on this topic »

Coalition in la-la land as taxpayers pushed to limit Irish Independent Businesses are being starved of cash and homeowners are being prevented from meeting theirfinancial obligations. The Government pumped money into the banks, but the banks won't lend it to those who need it. We need to review how best to get money ... See all stories on this topic »

Financial woes debated as factor in Lewisboro family massacre The Journal News | LoHud.com Unemployment and/or economic woes, she said, only compound the stress. "Financial problems do not make a man go out and kill his wife and children," Campbell said. "But it is a risk factor over and above prior domestic violence. ... See all stories on this topic »

Kuwait considering investments in Europe - fin min Reuters India By Martina Fuchs and Stanley Carvalho ABU DHABI (Reuters) - Kuwait is considering buying assets in Europe after prices fell in response to the region's debt crisis, but it has not made specific decisions, the country's finance minister told Reuters. ... See all stories on this topic » Reuters India

Four Nations, Four Lessons New York Times Watching Japanese timidity and failures has surely made him more willing to experiment with unconventional forms of monetary policy in the aftermath of our own financial crisis. The economists in the Obama administration are also well aware of the ... See all stories on this topic »

Why we quit spending ... Los Angeles Times Yet we're spending significantly less than we once did, forming an incremental drag on the economic recovery. Ironically, we have more money salted away in our savings account now than before my job was cut. That's what financial fear does; ... See all stories on this topic » Los Angeles Times

Consensus still elusive on how to start jobs machine Memphis Commercial Appeal Instead of only holding on that long, a few analysts and politicians advocate bracing a corner of theeconomy mauled by job losses -- manufacturing. "This crisis has been reported by the press as afinancial crisis. But the American people understand ... See all stories on this topic »

Advance and protect: Nation's top financial adviser operates from Omaha Lincoln Journal Star It's going to take real economic pain and another major crisis to say that we can't loan moremoney. (Finance ministers from the 17 euro countries agreed Friday to pay Greece its next batch of bailout loans, avoiding a potentially disastrous default, ... See all stories on this topic »

Angry protesters settle in with kitchen tent, library and music 'room' The Independent The personal reasons behind the seizure of this prominent part of the Square Mile vary greatly, from distress at the country's growing unemployment to fury at the banking failures that led to thefinancial crisis. It's 10am and most of the protesters ... See all stories on this topic »

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