Today: FINANCIAL News, Money, Banks, Economic and Financial Crisis, Nov 14, 2011

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Nov 14, 2011

FINANCIAL News, Money, Banks, Economic and Financial Crisis, Nov 14, 2011

Your Personal Economy: Achieving Financial Literacy is a Lifelong Journey
MarketWatch (press release)
A new report by TD Economics, ( www.td.com/economics ), an affiliate of TD Bank, America's Most Convenient Bank®, considers the risk-reward of spending versus saving, stressing the importance of a lifelong commitment to sound financial literacy ...
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Analysis: Euro zone treads obstacle course to crisis exit
Reuters
European Union governments have until a summit on December 9 to come up with the outlines of a much bolder and more convincing strategy, with some form of massive, visible financial backing. The prospects are uncertain because the German government, ...
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Insight: U.S. readies defenses against Europe spillover
Reuters
The Financial Stability Oversight Council, an inter-agency group set up after the 2007-2009 financial crisis, was trying to identify specific firms that could be hit by financial turbulence and then sort out ways that each one can fortify its balance ...
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Reuters
Europe faces toughest hour since Second World War, says German Chancellor ...
Telegraph.co.uk
Financial markets on Monday took heart on relief that a key Italian bond auction drew decent demand from investors and hopes that new leaders in Greece and Italy would take decisive action to breathe new life into their sick economies. ...
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Telegraph.co.uk
German central bank head: ECB no bailout lender
Boston.com
Some economists have advocated creating new money to buy large amounts of bonds as a way to reassure investors that Italy can repay its debts. Theoretically, the bank'sability to print money gives it unlimited financial firepower. ...
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Why the euro crisis is an American problem
CNN
The banks will then either have to seek government help or stop their lending to businesses and consumers or both. The bank crisis will translate into a severe Europe-wide recession, just as the US financial crisis of 2008 created a severe recession in ...
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Open Society Economist Georgi Angelov: Greek Banks' Units in Bulgaria...
Novinite.com
In fact, Western banks were hit very early on in the global financial crisis - most Western countries had to bail out banks, including Germany, Britain, Denmark, Belgium, etc. In Ireland, the rescue of thebanks was so expensive that the whole country ...
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Novinite.com
Start preparing for a life less complicated
Financial News
Once you accept that, it becomes hard to escape a logical conclusion: policy makers will start looking for ways to hobble the banks. The worse the financial crisisbecomes, the faster global governments will want to rein things in. ...
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Romanian card market finds ace up its sleeve in crisis
Business Review
The economic turbulence has brought about a change in Romanians' mentality when it comes to managing their financial resources, and people have started to choosebanking products only after in-depth research into their benefits and risks. ...
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Euro Crisis: Where Is The ECB? EFSF Buying Its Own Bond?
Business Insider
Also Sprach Analyst is a website on global finance and economics with a special focus on China and Hong Kong economy, finance, and real estate. While the obvious way to stabilise the situation in Europe is for the European Central Bank (ECB) to ...
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World markets find hope in Japan, Europe
CBS News
Since then, the country has steadily restored its factories, helping the economyrebound despite the threats of a financial crisis in Europe, slowing global economyand a strong yen. In Greece, there was good news Friday, as former central banker Lucas ...
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Asia stocks rise as Europe stabilizes, Japan grows
The Associated Press
Since then, the country has steadily restored its factories, helping the economyrebound despite the threats of a financial crisis in Europe, slowing global economyand a strong yen. In Greece, there was good news Friday, as former central banker Lucas ...
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Eurozone crisis blamed as UK jobs market faces 'painful contraction'
The Guardian
And the business secretary, Vince Cable, said: "It is vitally important to our economy that small firms can get access to the finance they need. "The banks have agreed to lend £76bn to small and medium-sized enterprises this year, ...
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The Guardian
UniCredit, Italian Bank, To Cut 5000 Jobs As Capital Shrinks To Dangerous Levels
Huffington Post
Ghizzoni needs to convince the bank's shareholder foundations -- which together hold around 13 percent of UniCredit -- to back the bank's third capital increase since 2009 and the biggest one since the start of the financial crisis. ...
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'Economy in difficult situation but it's not doomsday yet'
The Hindu
The Finance Minister said that even if one assumed that the GDP growth of the economy would be less than targeted, India would perhaps emerge as the fastest growing economy. “I do recognise that the financial crisisof 2008 created, and the financial ...
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The Hindu
Wonkbook: Questioning Obama as manager
Washington Post (blog)
President Obama speaks during a news conference at the conclusion of the Asia-Pacific Economic Cooperation Summit on Nov. 13 in Hawaii. (Kevork Djansezian - GETTY IMAGES) In the Financial Times, Ed Luce writes that Obama's "campaign inner circle is ...
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As Western World Flays Bankers, Asia Fêtes Them as EconomicHeroes
Wall Street Journal
Bank officials didn't respond to requests for comment. Some financialanalysts say it isn't surprising that Mr. Teh seems to be so revered by Public Bank's staff and shareholders. Nobody at the company knows what will happen when he ultimately decides ...
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Wall Street Journal
US banks warn of European credit crisis
Financial News
Equity capital markets, which would have been the usual route to add to bank's capital, have dried up in recent months with very few financial institutions raising new moneythrough them. In the four months to the end of October, the global total for ...
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The Invisible Hand: Visibly destroying Major Economies
Shaebia
The Great depression, Asian, Argentinean and the current financial crises are a litmus paper for the functioning of the capitalist system. Had banks and corporations thought rationally, I doubt if profit maximization at the cost of the well being of ...
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Mark Carney: A central banker for a volatile age
Macleans.ca
The ultimate sanction for any financial institution is bankruptcy. While the crisis of 2008 forced governments to step in to save several banks, and the current crisis in Europe may again require some sort of backstop, Carney is adamant the long-run ...
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Macleans.ca
Kingfisher Airlines to sell property to fly out of debt crisis
Economic Times
In case of a financial lease, the airline has to deposit money with the aircraft manufacturer, which can be up to 15% of the total value of the aircraft. Converting it into an operating lease would mean the deposit is paid by the leasing company, ...
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The mess we're in and how the Fed got us here
UI The Daily Iowan
The US government and the Federal Reserve appeared to have the answers, claiming it was a failure of the market that caused the crisis. Sweeping into action, they bailed out the banks, piled on the regulations, and began pumping new money into the ...
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Gulf banks' profit, loan growth likely to remain under pressure
gulfnews.com
According to data from the UAE Central Bank, money supply growth slowed sharply in the third quarter of this year. Dubai: The financial crisis of 2008-09 and the preceding boom have left a large share of Gulfbanks' loan portfolios impaired. ...
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gulfnews.com
Q&A: ADB's Nag on the Asia Hit from the Euro Crisis
Wall Street Journal (blog)
By Megha Bahree Rajat Nag, managing director general of the Asian DevelopmentBank, talks with the WSJ's Megha Bahree at the World Economic Forum's IndiaEconomic Summit in Mumbai about the ongoing eurozone crisis, the possible spillover in Asia and ...
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China 'Ready' to Allow Foreign Firms to Sell Stock, Exchange Official Says
Bloomberg
HSBC Chief Executive Officer Stuart Gulliver said in May it was his “desire” that Europe's biggest bank be the first foreign financialinstitution to be listed on the Shanghai exchange. Paul Harris, a London-based spokesman for HSBC, said the company's ...
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Bloomberg
Remittances to Latin America, Caribbean are rising again
MiamiHerald.com
The high amount of transfers reported by the Bank of Mexico in August is considered important because it could be indicative of a recovery in the total amount of transfers since the financial crisis, which caused many immigrants to return to their ...
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SuperCommittee and Economy Taking Center Stage
Equities.com
Significant progress was made on Oct. 27 when the Euro-rescue agreement was signed, addressing aa discount rate for Greek bonds, bank recapitalization, and an increase in the bailout fund (European Financial Stability fund or EFSF) to 1 trillion euros. ...
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Is the relevance of stock markets reducing?
Equitymaster.com
But this basic function has increasingly come into question in the aftermath of the global financial crisis. As an article in Financial Times (FT) reports, claims are now being made that the biggest stock markets are no longer helping companies raise ...
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Obama to China: Behave like 'grown up' economy
msnbc.com
the military protecting us from enemies that attack us with weapons. but could our greatest vulnerability right now actually be our financial system and our currency? federal reserve chairman ben bernanke and presidents barack obama and george w. bush ...
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msnbc.com
Buybacks Surging to Four-Year High With S&P Valuations
Bloomberg
US companies spent 70 percent more on their stock last quarter than a year ago, according to financial filings as of Nov. 11. Market bulls say the rise shows executives are confident the US economy will avoid a recession. While the Standard & Poor's ...
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Bloomberg
Argentina Cuts Reserve Requirements After Deposits Tumble by $645 Million
Bloomberg
4, according to the latest central bank data, heading to their first annual decline since a financial crisis in 2001 that led to the government defaulting on $95 billion of bonds. “This is just a signal to try to calm down expectations,” former central ...
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Bloomberg
Taiwan opposition builds campaign with piggy banks
The Associated Press
Since taking office 3 1/2 years ago, the 61-year-old Ma has won plaudits for helping Taiwan navigate through the global financial crisis, but has been widely criticized for his perceived inability to address the interests of blue-collar workers, ...
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Wen's Fine-Tuning Drives Steepest Yield Curve in Six Months: China Credit
Bloomberg
The central bank has since lowered the yield on one-year bills for the first time since 2008 and injected 163 billion yuan ($25.7 billion) into thefinancial system. Inflation slowed to 5.5 percent in October from a three- year high of 6.5 percent in ...
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Bloomberg
Follow From the Wires
Salon
Since then, the country has steadily restored its factories, helping the economyrebound despite the threats of a financial crisis in Europe, slowing global economyand a strong yen. In Greece, there was good news Friday, as former central banker Lucas ...
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The Wonk Who Slays Washington
Newsweek
Spencer Bachus, of Alabama, who, as the ranking member of the HouseFinancial Services Committee, was privy to sensitive high-level meetings during the 2008 financial crisis and proceeded to make a series of profitable stock-option trades. ...
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Newsweek
American nest eggs threatened by European debt crisis
STLtoday.com
The chance of a financial panic in Europe is the greatest risk to economic recovery in America. The real danger is that fear will overcome reason. We had a hint of that last week as investors dumped Italian bonds, sending the interest rate on Italy's ...
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Currency tumbles as Hungary faces "junk" debt rating
Monsters and Critics.com
... from the International Monetary Fund (IMF). 'Current economic policy is not one in which we finance ourselves from the money markets, and Hungary is capable of standing on its own two feet,' spokesman Peter Szijjarto said on state television. ...
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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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Follow From the Wires
Salon
Since then, the country has steadily restored its factories, helping theeconomy rebound despite the threats of a financial crisis in Europe, slowing global economy and a strong yen. In Greece, there was good news Friday, as former central banker Lucas ...
See all stories on this topic »

Salon
Shrinking Treasury Bills Means 0% Rates Persist Even With Record Deficits
Bloomberg
The shrinkage underscores a shift in the financing strategy of the government, which boosted bills outstanding to a record $2.07 trillion in August 2009 as it raised cash to bail out the nation's banks amid the worst financial crisis since the Great ...
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Bloomberg
INVESTORS TITLE CO - 10-Q - Management's Discussion and Analysis of Financial...
Insurance News Net (press release)
Lenders responded to the financial crisis by implementing stricter loan underwriting standards, which, combined with high unemployment and weakened consumer confidence, reduced the demand for homes. In an attempt to stabilize the strugglingeconomy, ...
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US searches for a cultural response to economic hardship
Mail & Guardian Online
From Oliver Stone's Wall Street: Money Never Sleeps, which brought back the 1980s demon figure of Gordon Gekko, to Margin Call in 2011, the finance industry's role in thecrisis is being examined and, usually, a harsh judgment is being passed. ...
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On the Precipice: Can Greece Save Itself -- and the Dream of a United Europe?
TIME
Greeks are pulling their money out of the country's banks, and right-wing politicians talk darkly about the police siding with protesters when the next round of economicausterity measures kicks in. Achilleas Giraud, a 53-year-old former real estate ...
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Loan Ranger
The Capitol
The number of foreclosures has dipped in New York, thanks to a bankmoratorium on foreclosures and a court ruling that ended the notorious practice of the financial industry robo-signing foreclosure documents without scrutiny. But experts predict that ...
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The Capitol
The Bubble President
City Journal
Clinton seems maddeningly oblivious to his contribution to the financial and economic crisis. It was Clinton who strengthened the nexus between Wall Street and Washington that helped bring the economy down, and Clinton who unleashed Robert Rubin and ...
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