Today: FINANCIAL News, Money, Banks, Economic and Financial Crisis, Nov 29, 2011

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Nov 29, 2011

FINANCIAL News, Money, Banks, Economic and Financial Crisis, Nov 29, 2011

Euro finance ministers try to avert crisis
USA Today
If Italy were to default on its debts of around $2.5 trillion, that could cause collapse in the eurozone and send shock waves throughout the global economy. France's finance minister, Francois Baroin, said Tuesday that countries should integrate their ...
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What the IMF should tell Europe
Financial Times
Adverse effects would be felt directly – and via contagion – on both other sovereigns and financial institutions and markets. Other countries might be directly affected by the need to rescue their banks. As economies weakened, fiscal positions would ...
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Insight: Hungary dug itself a debt hole, now it pays the piper
Reuters
Shortly after taking office, his government announced it was breaking off a restructuring deal with the IMF, which along with the European Union injected 20 billion euros ($26 billion) into Hungary at the height of the global financial crisis in 2008 ...
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Debt crisis and George Osborne's Autumn Statement: live
Telegraph.co.uk
According to the anonymous sources, finance ministers will discuss channeling ECB loans to cash-strapped eurozone nations through theIMF, aiming to bring the central bank onto the front lines without violating its ban on direct lending to governments. ...
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Telegraph.co.uk
Insight: In euro zone crisis, companies plan for the unthinkable
Reuters
Bank of America Corp added the European debt crisis into its regular list of risk factors it advises investors to be aware of: "There remains considerable uncertainty as to future developments in the European debt crisis and the impact on financial...
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For bulging Japanese banks, Europe crisis brings two cheers
Reuters UK
Bank of Ireland said it was selling project finance loans to SMBC for 470 million euros ($624 million), a discount of 16 percent, as it seeks to shrink itself under an EU-IMF bailout. SMBC said it has bought, and is in talks to buy, about 100 billion...
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ECB Fails to Fully Offset Bonds Purchased Under Program toFinance EU Debt
Bloomberg
It says this is what distinguishes its bond program from those of the Federal Reserve and Bank of England, which aim to increase themoney supply to boost economic growth. The ECB began buying Italian and Spanish debt after Europe's debt crisis spread. ...
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Bloomberg
Analysis: Echoes Of Europe Crisis In US Deadlock
NPR
That would be a problem for the US," said Behravesh, referring to the September 2008 collapse of US investment banking giant Lehman Bros., which triggered afinancial near-meltdown. Finance ministers of the 17 eurozone nations gathered at the European ...
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Euro leaders battling to bolster bailout fund
TVNZ
"We will have to look at the IMF which can also make available additional funds for the emergency fund. I think countries in Europe and outside of Europe should be prepared to give more money to the IMF," Dutch Finance Minister Jan Kees de Jager told ...
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EU continues scramble to avoid currency collapse
CBS News
What a concept, solid world finance regulations, where politicians can't squander their country's money. I must be an idealist. by pbarber12 November 29, 2011 7:08 AM EST The US went through a financial crisis similar to what Europe is going through ...
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How the US Will Become a 3rd World Country (Part 2)
Gold Seek
In response to the economic downturn that began in 2007 and the start of thefinancial crisis in 2008, the US federal government and the Federal Reserve resorted to a radically inflationary policy intended to save banks and to shepherd the US economy ...
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Barney, Banking and Brothels
Human Events
The Times also noted that the “pugnacious lawmaker was quick to lambaste the industry in the aftermath of the financial crisis, and was loathe to apologize when bankers complained about the harsh tone.” Unlike the Times, the Washington Post did mention ...
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Human Events
At Top Colleges, Anti-Wall St. Fervor Complicates Recruiting
New York Times (blog)
We breed a lot of the technocrats who go on to administer the globalfinancial system.” Wall Street has been steadily losing its allure on college campuses since the financial crisis, when many banksreduced hiring and left many finance-minded ...
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New York Times (blog)
Norges Bank Says Banks More Vulnerable Amid Rising Turmoil
BusinessWeek
Falling unemployment and near record-low borrowing cost encourage Norwegian households to borrow money to finance property investments. Property prices rose an annual 9.3 percent last month, according to Norway's Real Estate Brokers Association, ...
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Swiss banks face UK exodus
Telegraph.co.uk
The likely outflows are a blow to Swiss banks already struggling in the wake of the financial crisis. "Private banks are already under pressure as margins fall because of the crisis and costs need to be reduced," said Carlos Ammann, a managing partner ...
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Telegraph.co.uk
Stocks rise as European leaders pitch new debt solutions; consumer confidence ...
Washington Post
Europe's proposals for wriggling out of a potential financial catastrophe have become more radical as borrowing costs for the region's large economies, including Spain and Italy, spike. President Barack Obama said in a meeting with top EU officials ...
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Crisis in Europe Tightens Credit Across the Globe
New York Times
Investors have begun to treat Europe's big banks as the weak link in the global financial chain because of their huge holdings of bonds issued by debt-laden governments like Italy and Spain. Americanmoney market funds have been closing the spigot of ...
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New York Times
Baird receives “Deal of the Year” award
Milwaukee Small Business Times
Banks on the FDIC's “problem list” are considered to be in financial difficulty, based on their capital, liquidity levels and asset quality. At the end of the third quarter, there were 844 problem institutions, down from the 865 problem institutions at ...
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European Nations Pressure Own Banks for Loans
Wall Street Journal
The deep financial links between European governments and their banks have played a part in fueling the Continent's debt crisis. Banks across Europe are collectively holding hundreds of billions of euros of bonds issued by countries that investors fear ...
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Economy Heading for Double-Dip Recession
LoanSafe
... as the eurozone debt crisis has the potential to hit the banking sector and weaken confidence. It warned that it may become necessary to pump more moneyinto banks to help shore up the financial system. While it would be “preferable” forbanks to ...
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Managing Money To Maximize Happiness
Huffington Post
Unless we know where the money actually goes, we don't know how well it's serving the life goals we truly value. Have you shifted priorities as a result of the recession? Do you need advice on a financial dilemma or have financial wisdom to share? ...
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Bank settles subprime loans case for $52m
The Boston Globe
“The only way we are going to return to a healthy economy is to hold these banksaccountable in order to achieve real relief for homeowners.'' An spokesman said RBS was “pleased to have resolved this matter.'' RBS Financial Products was once known as ...
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The Anglo-American Century and Why the Financial Engineers Hate Gold and Silver
The Market Oracle
And I believe that the Anglo-American banking cartel will make this same play again, but this time with Europe and the world. Financial crises are an effective tool in the mass redistribution of wealth and power, and often done in secret, making their ...
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Crisis: The stupidity of the western approach
Pravda
So blind are the blinkered pupils of Milton Friedman, so stupidly obedient are the Thatcherites and the pith-brained followers of the market-economy approach that they are unable to see the idiocy of their policies in handling the global financialand ...
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Forex Technical and Fundamental Analysis for November 29, 2011
Business Insider
The euro area finance ministers meeting in Brussels will be the highlight for our session. The AUD/USD pair surged during the Monday session as rumors flew around the marketplace of bailouts and promises of IMF money for Italy. Even after the IMF ...
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perfect ETF For Armageddon
MarketWatch
By John Nyaradi Monday's impressive rally notwithstanding, it is hard to make a case for an instant resolution of the financial crisis in Europe. Moody's has stated that the European sovereign ratings are being threatened by the crisis and last week ...
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Decreasing liquidity a risk to Balkan banks, economies
Southeast European Times
Macedonian companies are undertaking precautionary measures to guard against the effects of the financial crisis. They remain cautious about obtaining credit. "They are aware the [EU] stagnation and financial turmoil is bringing reduced demand for ...
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Returns Worst Since '08 as Banks Fall on Europe: Credit Markets
San Francisco Chronicle
Bonds of financial companies are depressing returns as European leaders struggle to draft a framework for the region's bailout fund. The Organization forEconomic Cooperation and Development reduced its forecast for global growth in 2012 to 1.6 percent ...
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FTSE CLOSE: Stocks claw back into positive territory at end of uneven trading day
This is Money
Lloyds Banking Group was 0.5p lower at 23.2p, although insurer Prudential bucked the trend in the financial sector by gaining 12.5p to 610.5p. International Airlines Group, which operates as British Airways and Iberia, fell 1 per cent - or 0.6p to ...
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This is Money
Gold vs the dollar as the Eurozone wilts
Mineweb
No matter if it is Eurobonds, or Elite Bonds, or the EFSF or the ECB, or even theIMF, none of these financial institutions have enough money available. So, the only way out will be to create money out of thin air, in other words monetize the debt by ...
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AME Info, Abu Dhabi, United Arab Emirates, finance and economy briefs
Middle East North Africa Financial Network
DOHA BANK SHARES REMAIN ON A RECOVERY TRACK: The QE Index ended 0.10 percent lower at 8557.80 points. Market bellwether Industries Qatar fell 0.31 percent to QR130.70. Financial shares ended mixed. The country's largest leder Qatar National Bank ...
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US Government Debt Crisis Hovers in the Background, Part 2
Minyanville.com
The scheme summed up government approaches to public finance -- USPS was cleverly hiding its financial problems, receiving cash upfront against the uncertain promise to pay back the money somewhere in the never, never future. ...
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Ron Paul lays out plans for returning to sound money and gold standard
Examiner.com
The fight for control over the right to print money has been long and tragic in our nation's history, leading to economic crises and even assassinations of Presidents. Presidential candidate Ron Paul knows this history well, and knows the dangers he ...
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Why Politicians Are Good for Gold
Gold Seek
The ailments of the financial system extend to its very structure: thebanking system. The longer it takes to resolve the financial crises, the worse it gets. Once the decay in confidence has past a certain point, it's impossible to fix. ...
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Gold Seek
Cameron Biting EU Hand Feeding Britain in Debt Crisis Over Euro
Bloomberg
28 (Bloomberg) -- Peter Tchir, founder of TF Market Advisors, talks about the European debt crisis, efforts by the European FinancialStability Facility and the oulook for US banks. Tchir speaks with Adam Johnson and Lisa Murphy on Bloomberg ...
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Bloomberg
A Bailout Monstrosity
FrontPage Magazine
In 1998, Long-Term Capital Management, a hedge fund whose financial excesses had many major Wall Street firms on the hook, was rescued by the Federal Reserve with funding from its member banks. Thus, long before the government-engineered housing crisis ...
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White House push on payroll tax cut - Barney Frank fallout - Who will be ...
Politico
The economic and financial daily said on its Web site that S&P had planned to make the announcement last Friday but postponed it for unknown reasons. The euro briefly dipped on the report, which coincided with news that credit rating agency Moody's ...
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Citigroup, HSBC, RBS, Rajaratnam, JPMorgan in Court News
BusinessWeek
A trial could establish conclusions that investors could use against Citigroup, as could a new settlement that includes admissions by the bank. “In any case like this that touches on the transparency of financial markets whose gyrations have so ...
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Morning Take-Out
New York Times (blog)
BLOOMBERG NEWS French Bank Puts Property Loans on the Block | Société Générale is selling about $800 million of nonperforming property loans, and is expected to take a loss of up to 50 percent from the original value, The Financial Times reports. ...
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New York Times (blog)
New York Times financial writer Joe Nocera critiques Occupy movement
GazetteNET
He has chronicled the economic downturn, the financial crisis and the shortcomings of the financial system. From 1995 to 2005, he worked at Fortune magazine in a number of positions, including as editorial director. In the 1980s, he was an editor at ...
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GazetteNET
Stocks soar on big shopping weekend, Europe
BusinessWeek
Credit rating agency Moody's warned on Monday that the "rapid escalation" of Europe's financial crisis is threatening the creditworthiness of all euro zone governments, even the most highly rated. Only six of the euro zone's 17 countries have the top ...
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Gasoline Gains on Holiday Sales, Europe Debt Crisis Efforts
BusinessWeek
Euro-area finance ministers will meet in Brussels tomorrow as governments attempt to regain the confidence of financial markets after a week in which the euro-area sovereign debt crisis worsened. German newspaper Welt am Sonntag reported Chancellor ...
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Markets look beyond Osborne to Europe
Financial Times
By David Oakley, Capital Markets Correspondent There is only one show in town as far as the City and financial markets are concerned – and it is not George Osborne and his autumn statement. It is the eurozone and the deepening crisisacross the English ...
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France, Germany 'spar over top ECB job'
AFP
But sources familiar with matter told AFP that Paris has also now thrown its hat into the ring in the person of Benoit Coeure -- chief economist of the French economy and finance ministry and number two at the French treasury. The source was confirming ...
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AFP
IMF Survey: Financial Regulators, Central Banks Share Financial ...
Four years into the biggest financial and economic crisis since the Great Recession, ... parts of economic policy and regulation should interact duringfinancial boom and bust periods, ... Multilateral considerations are also key when designing both monetary and macroprudential policies. ... Follow us for the latestnews ...
www.imf.org/external/pubs/ft/survey/so/.../RES112311A.htm

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