Today: FINANCIAL News, Money, Banks, Economic and Financial Crisis, Oct 30, 2011

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Oct 30, 2011

FINANCIAL News, Money, Banks, Economic and Financial Crisis, Oct 30, 2011


Europe is drowning and needs a lifeline, where to turn for help? The answer: China
Economic Times
A series of marathon meetings this week yielded a new set of proposals, but what they depend on is cash - and lots of it, perhaps trillions of dollars - to save Greece and the European banking system and to prevent financial contagion from spreading to ...
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Financial crisis forces people to rethink spending and debt
Evansville Courier & Press
Ray Boshara, a senior adviser for the Federal Reserve Bank of St. Louis, and Avi Karnani, co-founder of Churnless, a company that helps individuals use technology to make better financial decisions, visited Evansville last week to discuss strategies to ...
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South Korea central bank report warns of capital flight risk
Business Recorder
SEOUL: Heavy money inflow since the 2008 financial crisis and a high stock market turnover ratio make South Korea especially vulnerable to massive capital flight in times of global stress, the country's central bank warned in a report on Sunday. ...
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Business Recorder
Plan B could have been even more aggressive, but it would definitely work
The Guardian
Until America sorts it financial system out, and puts the cooks and con men in jail, NOTHING can be done to repair the bankingsystem. All the money from these bailouts may just as well be tipped down a black hole, we keep giving it and they keep ...
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The Guardian
China risks public backlash over EU bailout
NDTV.com
It bought stakes in investment bank Morgan Stanley and asset management firm Blackstone only to see values collapse in the 2008 global financial crisis. The losses led to severe criticism of the investment choices made by China's sovereign wealth fund, ...
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European Summit: A Plan With No Details
Seeking Alpha
Indeed, it is far more likely to lose money through half-hearted interventions than through forceful interventions that succeed. ….The eurozone risks a tidal wave of fiscal and banking crises. The European financial stability facility cannot stop this ...
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A £48bn windfall for Germans - but euro worries grow as Italianeconomy weakens
Daily Mail
The money, which would be enough to build nearly 10000 British primary schools, had been lost in the accounts of FMS Wertmanagement after officials were left so confused by a set of complex financial instruments governing its financial obligations that ...
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Daily Mail
Merkel's blunt message: Save the euro to save Europe | Philadelphia Inquirer ...
Philadelphia Inquirer
If Germany went back to its beloved D-Mark, its value would soar, hurting the country's exports, which enabled Germany to come out of the 2008-09 globalfinancial crisis stronger than it went into it. The country's unemployment rate, 6.6 percent, ...
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Can Super Mario Save the Day for Europe?
StarNewsOnline.com
But central bank watchers worry how Mr. Draghi might be perceived if Italy experiences its own financial crisis — a prospect he himself has not discounted. “Mr. Draghi knows that he will be in a very exposed position if he is president and the bank ...
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Greece's continuing cycle of debt and default
Business Standard
The only new factor in Greece's ongoing crisis is that the country is not as strategically important to outsiders as it was before the end of the Cold War, so foreign governments are not as interested in loaning Athens money. The ongoingfinancial ...
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Letters: Volcker and the Money Market Funds
New York Times
Mr. Volcker's comments about money market funds read like another attempt to use the financial crisis — a crisis rooted in banks and banking regulation — to deprive the economy of the enormous benefits that these funds bring investors, businesses, ...
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Crisis in Europe
Korea Times
Korea's financial markets, one of the quickest-changing bourses in the world, either up or down, have already restored their pre-crisis stability. Finance Minister Bahk Jae-wan says, ``Koreans can rest assured, as its economy is in experts' hands. ...
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Alok Sheel Its a long road from Keynes to Cannes
Business Standard
In its recent World Economic Outlook of September 2011, appropriately entitled, Slowing Growth, Growing Risks, the IMF has however painted a grim picture of the current state of the global economy and financial system. These have once again entered a ...
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Eurozone debt crisis: Cosy up to China for EU bailout at your peril
Daily Mail
A European financial collapse would be shockingly bad business for Chinese exports. What now? Europe is faced with the prospect of becoming so deep in hock to China that it may have little choice but to treat the country as if it were a law-abiding ...
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Daily Mail
Trading Week Outlook: October 31 - November 4, 2011
Seeking Alpha
With many unknowns still lingering after the rally fueled by the EU Summit's new plan to contain the sovereign debt crisis, the first trading week of November could prove crucial for the fate of the financial markets, the euro and the US dollar as the ...
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'Where has all the money gone?'
The Independent
But using equity as an alternative form of finance has never been so important, as so many SMEs struggle to get bank finance. "There are many problems we need to deal with – the banks are building their capital base so don't want to lend. ...
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'Significant financial reforms on the way'
The Asian Age
The legislative agenda for reforms in the financial sector is quite significant and includes the introduction of major bills in Parliament. Some of these are BankingLaws Amendment Bill, Factoring and Assignment of Receivables Bill, Pension Fund ...
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Slow-motion, muddle-through EU policy is going nowhere fast
Irish Independent
Since the architecture of the common currency area has not been designed to ensure financial stability, the prevention of a new crisis, once the current one is resolved, requires long-term changes. The latest Brussels communique offers decisive actions ...
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Why the latest eurozone bail-out is destined to fail within weeks
Telegraph.co.uk
Having said all that, the prospect of "haircuts", however half-hearted, now looms over eurozone sovereign bond-holders, not least fragile European banks. So Thursday's announcement also stressed that the €440bn (£386bn) euro European Financial ...
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Telegraph.co.uk
Why Europe could get a lot more important for the GCC
AME Info
The near collapse of Greece has been threatening to send the financial markets into a tail spin and the global economy to the brink of recession. But now that Europe's leaders have beefed up the bailout fund to EUR1 trillion and banks have "agreed" to ...
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Portugal seeks US aid in crisis
Oman Tribune
Klaus Regling was in China to persuade Beijing to stump up money and help the euro zone beat its two-year-old debt crisis. He said the European FinancialStability Facility (EFSF) may invest in a special purpose vehicle and absorb the first 20 per cent ...
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Canadian Banks Still Good Value
GuruFocus.com
His focus today is on the trials and tribulations of the banking sector and the effect it is having on the share prices of Canadian banks. Here is his report. Here comes more trouble. Having successfully shorted British and American financial stocks,...
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Economy slack? Not so; its a re-adjustment to innovation and quality
Economic Times
Therefore, innovation and quality are the answer to the correct crisis. The subprimecrisis erupted and brought down the world as the American finance professionals were selling something which was not something the buyer really wanted to buy. ...
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Europe Looks to China
Business Insider
The Chinese government could then trumpet a nationalist achievement — equal status as the United States, and a greater status than that of Europe, in running the world's premier financial institution — as the return for investing its cash abroad. ...
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The State of the Economy: Why Employers Aren't Hiring Fast Enough
Fox News
New York Times financial reporter Louise Story joins us. Louise, why aren't employers hiring fast enough? LOUISE STORY, NEW YORK TIMES: Well, you know, Greta, it was a little bit of surprise in the last week or so to get some kind of positive economic ...
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They may be saying it in a kooky way, but the St Paul's protesters are right
The Guardian
Yet beneath the surface, the banks were taking extraordinarily risky bets – with our money. By 2007, when Northern Rock began to shake, and politicians and central bankers finally realised the size and power of the financial monster they had unleashed, ...
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The Guardian
How to invest your money can be confusing
STLtoday.com
Prices are attractive, he said, assuming that European bank problems do not lead to a credit crisis in Europe that infects US banks and the global economy. He believes the chances of that are remote. He has been selling weaker financialstocks and ...
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Challenge before G20
DAWN.com
The recovery started well, but petered out as it became clear that the banks' difficulties ran deeper than feared and the problem of overindebtedness at the root of the financial crisis had not really been solved. Rather large chunks of the debt had ...
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Can Barclays' future live up to the 'Bobtimism' of chief Bob Diamond?
Telegraph.co.uk
This heavy reliance on one large, complex and risky division has been a worry ever since the financial crisis laid bare the staggering losses that could be unleashed if things go wrong in the “casinobank”. Diamond bristles at the suggestion that ...
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Telegraph.co.uk
Prime Minister Harper is 'cautiously optimistic' about EU deal
Montreal Gazette
Early Thursday, European leaders came to an agreement to deal with the euro zone crisis. The deal requires banks to have more capital on hand, increases a bailout fund if European nations run into financial trouble, and per-suades bankswith Greek ...
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Harper less pressured to intervene on economy because of majority
Vancouver Sun
Derek Burleton, deputy chief economist with TD Bank Financial Group, said the federal government's consistent focus on deficit and debt reduction has improved business and consumer confidence. "The notion of adding more stimulus — it's just far too ...
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Progressing from poverty to possibility
Calgary Herald
United Way has brought together partnering agencies, government and business, including banks and financial institutions, to examine gaps of financial literacy in our city and to assess our collective role in helping to change that. ...
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Gordhan leaves little room for manoeuvring
BusinessLIVE
Although the treasury kept the issuance of domestic long-term debt mostly unchanged over the next financial year, there still is plenty of concern about economic prospects. Gordhan warned that slower growth and instability in Europe would reduce demand ...
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BusinessLIVE
Zimbabwe: 'Agric Needs US$2,5 Billion Funding'
Zimbabwe Guardian
Thе funding crisis, hе emphasised, hаԁ bееn compounded bу hυɡе cuts frοm traditional donors, themselves fighting tο сοοƖ a historic financial meltdown іn thеіr οwn territories. “In 2000, US$1,87 billion wаѕ lent tο agriculture,” Taffs tοƖԁ thіѕ paper ...
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'Occupy Frankfurt' protestors highlight inequality
The Local.de
As European leaders shuffled between summits last week in a bid to prevent the debt crisis in Athens from compromising the continent'sfinancial institutions, the Occupy protesters have hunkered down in front of the European Central Bank (ECB), ...
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The Local.de
Malfeasant Central Bankers, again
gulfnews.com
And my main conclusion for money policy is that flexible inflation targeting — applied in the right way and in particular using all the information about financial conditions that is relevant for the forecast of inflation and resource utilisation at ...
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gulfnews.com
US: Mixed victory for students under Obama loan plan
University World News
The US Department of Education recently reported that the student loan default rate had climbed to 8.8% in 2009 from 7% the previous year, before the financial crisis. This year, default rates climbed yet again. At private for-profit colleges, ...
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The Tax Plan That Occupy Wall Street Loves
The Fiscal Times
But the idea has cropped up again numerous times over the last 40 years, most recently in the wake of the 2008 financial crisis. In 2009, the head of Britain's Financial Services Authority, Adair Turner, proposed a tax to rein in "socially useless" ...
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The Fiscal Times
100 leading economists tell George Osborne: we must turn to Plan B
The Guardian
A new round of quantitative easing to finance a "Green New Deal" to create thousands of new jobs. • Benefit increases to put money into the pockets of those on lower and middle incomes and give a boost to spending. • A financial transaction tax to ...
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The Guardian
Follow Occupy Wall Street
Salon
The bank's president, Nicholas Biddle, then engineered a financial crisis by calling in loans across the country, but the bank eventually lost its charter in 1836 and went bankrupt in 1841. No US centralbank existed for another 72 years. ...
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Salon
Europe reports progress in financial crisis talks, but key issues ...
BRUSSELS — European leaders have agreed to order banks to raise about $140 billion ... as work continued on a plan to resolve a lingering financial crisis. ...
www.washingtonpost.com/.../gIQANOM19L_story.html
Five ways the European debt crisis could affect the US
For Obama, the US financial crisis that preceded his election set the stage for three years of economic volatility. But at least in 2009, he took office ...
www.usatoday.com/money/world/story/2011-10-27/.../1?...
IMF's Lagarde: Progress made in crisis talks, more work to do
BRUSSELS (Reuters) - IMF Chief Christine Lagarde said euro zone leaders had made progress in talks on trying to resolve the region's debt crisis on Sunday, but said there was ... Breakingviews euro zone bank stress test calculator ....technology news, headline news, small business news, news alerts, personalfinance, ...
www.reuters.com/.../us-eurozone-crisis-imf-idUSTRE79M38Z...
Debt crisis: live - Telegraph
Check out the Telegraph Finance page for the latest on the eurozone debt crisis.... 19.59 Deutsche Bank, which has risen 16.6pc over the past two day, has .... on Thursday to news of the European leaders' plans to resolve the debt crisis, ... of the European Commission's Directorate General for Economic and Financial ...
www.telegraph.co.uk/finance/.../8846201/Debt-crisis-live.html
The eurozone financial crisis explained – USATODAY.com
Among the 17 nations that use the euro, financial bailouts are having a ripple effect. ... not sought bailout loans, but their increasingly severe economic troubles raise that likelihood. Sources: AP, IMF, Eurostat; State Department, European Central Bank and .... For the latest Money news, follow USATODAYMONEY On Twitter. ...
www.usatoday.com/money/world/story/2011-10-26/.../1

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