Today: FINANCIAL News, Money, Banks, Economic and Financial Crisis, Nov 13, 2011

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Nov 13, 2011

FINANCIAL News, Money, Banks, Economic and Financial Crisis, Nov 13, 2011


Italy's financial crisis
ABC Online
Italian banks didn't buy into the sub-prime story; not the collateralised debt obligations (those fandangled financial products based on individual loans in the United States parcelled up and sold around the world). Sub-prime lending was anathema to ...
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Mahathir projects steady future for Islamic finance
Arab News
We are seeing how the Islamic banks have remained unaffected by the current crisis," he said. Mahathir knows a thing or two about steering economies out of financial crises. His government successfully steered Malaysia out of the 1997-98 Asian ...
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Survival guide to global meltdown
Telegraph.co.uk
Headlines over the past week have once again been dominated by the global financial crisis: whether it was the "unsustainable" debt levels in Italy, shares plunging around the globe or the prospect of a second creditcrisis causing Western economies to ...
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Telegraph.co.uk
Bundesbank chief champions purist approach
Financial Times
You won't solve the crisis by reducing incentives for the Italian government to act.” For similar reasons, Mr Weidmann rejects other proposed ways of channelling central bank money to eurozone sovereigns, such as capitalising the EFSF with euro ...
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Financial Times
Fresh concern over eurozone debt crisis
AFP
Although both the IMF and European Financial Stability Facility have reportedly offered financial help, some economists have warned that, unlike fellow eurozone members Greece, Ireland and Portugal, Italy may be "too big to bail". ...
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AFP
British economy braced for double blow: Bank of England to downgrade growth ...
Daily Mail
He will present his financial strategy to parliament on November 29. The news comes as the Bank of England is this week expected to slash its forecasts for growth amid fears of a double-dip recession. The Government hopes that private investors, ...
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Daily Mail
Eurozone Refuses Chinese Demands, Turns Down Bailout Money
Business Insider
But China doesn't want to be the dumb money. October 30, Zhu Guangyao, ViceFinance Minister, suggested that China would wait and see how the technical details of the fund's proposed special investment vehicles would work out. ...
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MORE ON THE STORY
RT
Ex Finance Minister Aleksey Kudrin, fired recently for criticism of the leadership's economic policies, has proposed a five-point plan that would help Russia to avoid a second wave of the Global Financial Crisis. Goodeconomic numbers has prompted ...
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RT
Commentary: Credit unions reported a surge in membership after Bank Transfer ...
Washington Post
This was the straw that broke the camel's back, and consumers, who already were frustrated because of the fallout from the financial crisis, voted with their money and chose Main Street over Wall Street. Credit unions across the country gained ...
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Wanted: a leap of faith
Korea Times
By Michael Hellbeck Korea dealt with two major Foreign Exchange shocks, the 1997/1998 Asian Financial Crisis, and after the Lehman Brothers' collapse in September 2008. Both were triggered by abrupt and massive outflow of capital, leading to sudden ...
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Korea Times
Scottish Referendum must ask us three questions
For Argyll
Regardless of the Bank's decision on Friday not to add to its 'quantitative easing' programme, some financial analysts believe that 2012 will see it inject a further £50 billion of new money in the first quarter, followed by another £50 billion in the ...
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For Argyll
Dummy's Guide to the Financial Crisis
Montreal Gazette
The truth is no one knows what's going on. You obviously need a “Dummies' Guide to theFinancial Crisis” and who better to provide it than a financial dummy like me. So ask away: OK, Dr. Dummy: What's happening to the world's economy? ...
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Scott Bushkie column Strategy has changed in finance game
Green Bay Press Gazette
Back in the good old days, a buyer would put down somewhere in the ballpark of 15 to 20 percent, the bank would finance 70 to 80 percent, and the seller would get almost all their money at close. Today, financing in the new norm is really dependent on ...
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Iceland's Fair Value Vultures
Credit Writedowns
The country is now suffering a second round of economic and financial distress stemming from the collapse of its banking system in October 2008. That crisis caused a huge loss of savings not only for domestic citizens but also for international ...
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Security of Your Money is Guaranteed by ICM Brokers
«Market Leader» - news and previews making you rich.
The global financial crisis is not over. At least, its consequences are so grave that the global financial system still cannot recover from recession. The global economy that seemingly gained impetus of progressive movement started skidding - all ...
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«Market Leader» - news and previews making you rich.
Europe Disatser Headed to U.S.
Newsweek
But the third reason Americans should care about Europe is more important even than the risk of a renewed financial crisis. It is the danger that what is happening in Europe today could ultimately happen here. Just a few months ago, almost nobody was ...
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Budget 2012 keyword: responsibility
Malta Independent Online
“What happened was a financial crisis that nobody saw coming and which brought on an economic crisis beyond even those proportions. And this was not because of energy prices, but because of a scarcity of liquidity and demand – factories were closing, ...
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How a financial pro ending up losing his home
Worcester Telegram
I'ma financial adviser. I get paid to help people make smart financial choices, and I speak and write about personal finance issues. My first book comes out in January, “The Behavior Gap: Simple Ways to Stop Doing Dumb Things With Money” (Portfolio, ...
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DSC economic plan announced
Voxy
The division within the Reserve Bank which carries out the supervisory role over banksand financial institutions will be transformed into a stand-alone, independent, publicly owned organisation, the Prudential Regulatory Authority of New Zealand ...
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Economy now needs a contingency plan
Financial Express Bangladesh
Then again unimpressive financial statements of banks are likely to pull the stock market, which is almost in a state of coma, further down. In fact the prevailing circumstances necessitate formulation of contingency plan for managing the economy...
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Anxiety Grows over Spillover of EU Debt Crisis in Nigeria
THISDAY Live
“If we do not act boldly and if we do not act together, the economy around the world runs the risk of downward spiral of uncertainty, financial instability and potential collapse of global demand.” Central Bank governor, Sanusi Lamido Sanusi had warned...
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Patrick Cockburn: Greece and Ireland's dreams of equality go as quickly as the ...
The Independent
You can't go back to that because they [foreign countries and international banks] don't trust us any more." I spent the past month in Greece and Ireland. In most of Europe, thefinancial crisis is only slowly beginning to deaden economic life, ...
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Can Cyprus survive the euro's crisis of confidence?
Cyprus Mail
The duo of Sarkozy and Christine Lagarde, the French Finance Minister, held up any real progress on Greece to protect the French banks. Lagarde changed her stance only when she was appointed as Head of the IMF and got a wake- up call. ...
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Spotlight Fixed on Geithner, a Man Obama Fought to Keep
Lexington Dispatch
Mr. Obama saw Mr. Geithner, especially in the first year, as responsible mainly for thefinancial system, rather than as captain of the economic team, as other previous Treasury secretaries have been. Europe's worsening crisis, and the potential for ...
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Wall Street bonuses are projected to drop up to 30 percent
Daily Comet
Even Goldman Sachs, a firm known for its earning power, last month reported its first quarterly loss since the financial crisis. Goldman, Bank of America and other Wall Street firms have been cutting thousands of jobs. “It is disappointing,” Johnson ...
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Did journalism sink your 401k?
The Boston Globe
A new analysis finds that the frequency of negative phrases like “financial crisis” and “credit crunch” in news coverage was a more robust predictor ofbank stock performance in subsequent months than the reverse — that is, than bank stock performance ...
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The Boston Globe
US at risk of European debt contagion
Sydney Morning Herald
US financial institutions have tried to inoculate themselves by drastically cutting risk to the euro zone debt markets, partly in response to urging from policymakers. But the measures may not be enough in the event of abank failure or bond market ...
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Sydney Morning Herald
Aust stocks expected to open higher
Ninemsn
Check out ninemsn Finance's Tax Time for tips and advice on how to make your 2011/12 tax return work for you. The Australian share market is expected to open higher on Monday after progress was made towards resolution of the Eurozone debt crisis. ...
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Small banks are struggling, too
Cincinnati.com
Also, less profitable community banks are more vulnerable to takeover by stronger rivals. "These banks are part of the backbone of our economy," says Steve Wyatt, chairman of the finance department at Miami University. "These are important institutions ...
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Gold investor's biggest risk is political
PakistanToday.com.pk
Interesting book by Barry Ritholtz “Bailout nation, with new post-crisisupdate: How Greed and Easy Money Corrupted Wall Street and Shook the World Economy” shares exciting insight about an engaging look at what led to the financial turmoil we now find ...
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PakistanToday.com.pk
America's New World Order Agenda
OpEdNews
America, Israel, and key NATO nations are partnered to achieve it. Wars, economicdisruption, financial terrorism, and other upheavals play out in real time. Grand schemes lie behind them. Today's economic crisis wasn't happenstance. ...
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Central Bank Turkeys Tell Tall Tales
The Market Oracle
The Canadian government said that their economy lost 54000 jobs in October - the most since the financial crisis of 2009. 71000 of those were full-time positions while they added 17000 part-time positions. Bear in mind that Canada is just behind China ...
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Guy Hands: 'the days of speculation and quick returns must end'
Telegraph.co.uk
It's clear, too, that Europe's banking system is far too weak to financethe growth desperately needed to reduce youth unemployment and fund the social services and pensions that people have come to expect. With ideological partisanship in the US ...
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Telegraph.co.uk
Welcome To A World Where There Are No Risk-Free Investments
Business Insider
One possible story about the financial crisis is that an unusually rosy period of growth in the west taught us to expect--no, to need--an unsustainably high rate of low-risk return on assets. We made a whole lot of unsustainable promises during the ...
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David Ignatius: Europe's fiscal circus
Journal and Courier
They set targets they can't achieve, and then watch as financial traders shoot them down. Betting on European economic incompetence has been a one-way trade for two years now. If you assume the Europeans won't deliver on their promised solutions, ...
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Italy woes hitting home
Toledo Blade
However, the bigger risk would be if a European financial crisis triggers a meltdown on Wall Street, which could ultimately hurt Chrysler, Mr. Phillippi said. And economic problems in Italy could cause Chrysler to cancel future Fiat-related products it ...
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Toledo Blade
US searches for a cultural response to economic hardship
The Guardian
From Oliver Stone's Wall Street: Money Never Sleeps, which brought back the 1980s demon figure of Gordon Gekko, to Margin Call in 2011, thefinance industry's role in the crisis is being examined and, usually, a harsh judgment is being passed. ...
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The Guardian
MF Global's collapse bolsters Dodd-Frank aims, efforts
The Star-Ledger - NJ.com
These instruments were blamed for exacerbating the financial crisisbecause they were traded in the dark between two counterparties, with no safety net in the event that the seller failed to meet its obligations. The near-obliteration of the American ...
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The Star-Ledger - NJ.com
The Great Bonus Debate: Will Financial Stocks Take a Knock?
NASDAQ
Hedge funds are also more exclusive than big banks – it often takes a lot of money to work with one. Large risks here could mean great falls, but the risks would be contained in a economic group that can better take on the impact. ...
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Let Kingfisher fish for itself
Hindu Business Line
However, learning from experience, the consortium of banks which met with Kingfisher on Saturday has refused immediate assistance and asked the airline for more financial statements buttressing its plea for support. Interestingly, the bankers have also ...
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Hindu Business Line
GOP ignores Wall Street's role in economic woe
CNN
The GOP (and some Democrats), at the behest of the banking industry's big moneylobbyists, oppose the Consumer Financial Protection Bureau, and don't want it to see the light of day. How in the world can we trust that any of these candidates will care ...
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Monti's Antitrust Fights Give Him Edge as Frontrunner to Lead Italy Revamp
Bloomberg
Monti's program would “basically be what the ECB asked us,” Mario Baldassarri, chairman of the Italian Senate Finance Committee, said in an interview. While Italy has a tradition of reaching out to non-partisan leaders in times of crisis, ...
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Bloomberg
How To Prevent A Housing Recovery
Seeking Alpha
Since the start of the crisis, my research has indicated that only a radical restructuring of homeowner debt, combined with innovations in housing finance, will end the crisis. Prior to the bailout, Obama had the opportunity to bring banks to the table ...
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Gridlock on deficit panel looms over stock rally
Boston.com
The S&P 500 jumped another 1.9 percent Friday after Italy passed an economic reform that may help it avert a financial crisis. "We've had two of the three big concerns in the market largely resolved over the last month," said Mark Lamkin, ...
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Mish's Global Economic Trend Analysis: World has Major Funding ...
Mish's financial blog covers global news and macroeconomic events ... World has Major Funding Gap; IMF Begs Russia and China for Money; Italy and Greece ... Saxobank chief economist Steen Jakobsen pinged me with an interesting set ... has warned that Asian economies are not immune to the crisis that has engulfed ...
globaleconomicanalysis.blogspot.com/.../world-has-major-fun...
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