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

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Dec 13, 2011

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

Debt crisis: live
Telegraph.co.uk
16.11 Fitch has cut the long-term foreign and local currency credit outlooks on Bulgaria, the Czech Republic, Latvia and Lithuania to stable from positive citing Europe's weakening economic and financial outlook. Ed Parker, sovereign ratings analyst, ...
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Euro crisis simmers with banks under stress
San Francisco Chronicle
Banks have also been under strain because they hold government bonds and could suffer losses in case of a default. They are also being pressed by the European Union to find money to increase their financial buffers against losses. ...
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Greece seeks to boost economy
CBC.ca
A top Greek politician and European officials are discussing ways of kick-starting the country's depressed economy. How to unlock capital in public investments was one of the measures being pored over in meetings Tuesday between Finance Minister ...
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CBC.ca
Hopes fade for IMF funds boost
Financial Times
The last substantial increase to IMF resources came in 2009, when a series of governments made bilateral loans to the fund to enable it to cope with the globalfinancial crisis. Please don't cut articles from FT.com and redistribute by email or post to ...
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Federal Reserve ends meeting without major moves
USA Today
The US economy remains vulnerable, especially to the impact of thefinancial crisis and likely recession in Europe. So the Fed is keeping open its options for doing more to bolster the economy. It's already taken numerous unorthodox steps. ...
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USA Today
On Europe, 'Congress is in the dark about what the threat is'
Washington Post (blog)
But as the situation in Europe has continued to devolve, the threat to the USeconomy — and the role of US financial institutions — has grown as well. Members of Congress are finally starting to raise concerns about the crisis'spotential impact here ...
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Rapid descent
Sydney Morning Herald
The Bank of England warns the world faces its worst financial crisissince the 1930s, ''if not ever'', and decides to pump £75 billion of newmoney into the economy. ❏ The Occupy Wall Street protests gain momentum and spread to other cities. ...
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Sydney Morning Herald
IMF euro rescue starts to unravel
EUobserver.com
Within the eurozone itself, Greece, Ireland and Portugal are under EU-IMF loan programs. Estonia has also said it will not join the €200-billion scheme. "Estonia didn't participate in the IMF capital boost in 2009 following the financial crisis and...
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'Cameron playing into banks hands'
Press TV
Press TV: It is odd though that the media have given that defense such an easy ride because, of course, it's these very banks, bankers and financial services that have plunged all of Europe, indeed North America also, into the crisis that we're in. ...
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Press TV
EU Banks Selling 'Crown Jewels' Risks Undermining Growth
BusinessWeek
Regulators are forcing European banks to raise capital as the region's sovereign-debt crisis worsens. The European Banking Authority last week ordered the region's financial firms to raise 114.7 billion euros of additional capital. ...
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'Willing' global financial reforms
Hindu Business Line
The responsibility for the 2008 financial crisis and other recent ones can be laid squarely at the doors of central banks led by the Fed. They allowed unrestricted access to liquidity and leverage, monetizing asset price booms. ...
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It's Time to Brace for a Repeat of 2008
Money Morning
No doubt, the European crisis is far from being solved - but that's hardly the only potential economic catastrophe looming on the horizon. Indeed, two successive articles in the Financial Times last week warned of a new disaster approaching: They ...
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Brazil lends money to the IMF
Canadian National Newspaper
While visiting there, she met with President Felipe Calderón,Finance Minister José Antonio Meade, Central Bank Governor Agustín Carstens, as well as some of Mexico's leading female executives. Among the many subjects discussed were the details of...
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Canadian National Newspaper
Don't freeze when austerity hits: Carney
National Post
On Thursday the Bank of Canada issued its biannual FinancialStability Review in which it significantly cranked up the volume on its the risk to the Canadian financial system posed by the European debt crisis, saying it's the highest since the turmoil ...
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National Post
Richard Kovacevich on What Really Caused the Financial Crisis
Forbes
This guest post is an interview with former Wells Fargo chairman and chief executive Richard Kovacevich, who challenges much of what is becoming conventional wisdom about what drove the financial crisis. It was conducted by William M. Isaac, ...
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Forbes
Umbrella union: 10 myths about Greece and the crisis
Kathimerini
Beyond that, the European Investment Bank has also helped finance key projects such as the construction of Athens International Airport and the city's metro system. They are just a couple of schemes where EU money has helped improve Greece's ...
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A look at economic developments and activity in major stock markets around the...
Washington Post
___ AMSTERDAM — The Dutch finance minister says the government will cut spending further after a government think-tank said the country is slipping into recession. ___ LONDON — Inflation in the United Kingdom fell to 4.8 percent in November, ...
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A look at economic developments around the globe
CBS News
AMSTERDAM — The Dutch finance minister says the government will cut spending further after a government think-tank said the country is slipping into recession. LONDON — Inflation in the United Kingdom fell to 4.8 percent in November, ...
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Five Ways the Eurozone Crisis May Impact You
Fox Business
But the modest growth may fizzle if the eurozone crisis deepens, says Werner Bonadurer, clinical professor of finance at Arizona State University. "Recent USeconomic growth has been fueled by government spending and exports," Bonadurer says, ...
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Top economists reveal their graphs of 2011
BBC News
A generalised, global financial crisis would follow, far worse than after Lehman's failure." RICHARD PORTES, PROFESSOR OFECONOMICS AT LONDON BUSINESS SCHOOL "This Bank of England Inflation Report shows real income levels and consumption levels are way ...
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BBC News
The coming GOPausterity-induced economic cliff dive
Salon
The idea of realigning mortgages with home prices has met with stiff, stiff resistance from the banking industry. So far – amazingly, given the financial crisis – people in Washington and the administration and Congress have continued listening to the ...
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Salon
Markets await Fed's economic assessment
Atlanta Journal Constitution
"The financial markets are now digesting the details of the EU deal struck last Friday, and it is quickly becoming apparent that thefinancial markets have once again given it the thumbs down," said Derek Halpenny, an analyst at The Bank of ...
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Atlanta Journal Constitution
Johnson: Five Questions You Should Ask Your Financial Adviser
CNBC.com
What long-term impact might the central banks have on thefinancial markets? The expressed purpose of a central bank is to monitor the supply of money, curtail inflation and reduce fluctuations in the business cycle. During the last several years, ...
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CNBC.com
Eurozone deal is a pill, but experts doubt it is a cure
eTaiwan News
In the meantime, analysts say, financial markets will continue to project an almost bipolar reaction to the crisis, lurching forward on hopes of political breakthroughs and slumping anew as the Continent's economy and its banksdeteriorate in tandem. ...
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'All-powerful bully': Former Royal Bank of Scotland boss Sir Fred Goodwin
Daily Mail
Yet, remarkably, none of those responsible have been found culpable. Perhaps we shouldn't be surprised, for the whole history of the greatest financial crisis in our history is one of self-delusion. ' All - powerful bully ' : Former Royal Bank of ...
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Daily Mail
RBI prefers FDIs over short-term debt inflows to finance CAD
Economic Times
The late Jha was the RBI governor from July 1967 to May 1970 and was also a member of the Brandt Commission that probed the financial crisis of the developing economies in 1983. Referring to the significance of maintaining a lower current account ...
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Saudi sukuk may serve monetary policy goals
Arab News
More bond issues by companies would reduce their reliance on bank loans at a time when the global financial crisis is making foreign banks more wary about lending. The Saudi Arabian Monetary Agency (SAMA) is talking with local and international banks ...
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Conversations With Wall Street: The Inside Story Of The Financial Armageddon ...
Huffington Post
The perfect financial storm erupted when Main Street reverence for hard work collided with Wall Street reverence for easy money. "Dave" was a senior bond salesman at one of the top investment banks on the Street. A 40-year-old father of three children, ...
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US stocks seen as bright spot for money managers
MarketWatch
Financial markets have been rocked this year by swiftly changing sentiment over the efforts to resolve a widening sovereign debt crisis in Europe. Looking to the region, the bank's survey found global investors remain at odds over the future of the ...
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An Unorthodox Crisis Calls for Unorthodox Action
EconoMonitor (blog)
The owner of the reserves is the Polish nation, while the Polish National Bank, NBP, only administers them on its behalf. So the society not only owes the public debt, which is the responsibility and headache of the government, but alsofinancial ...
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Fed Says US Economy 'Expanding Moderately'; Policy Unchanged
BusinessWeek
The next day, the Fed led six central banks in announcing a half percentage-point cut in the cost of emergency dollar funding for financial companies. The moneycomes from the Fed's currency-swap lines. The action triggered a stock and bond rally, ...
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Area banks hold more deposits but make fewer loans
Kansas City Star
This is the new challenge facing an industry that has spent years cleaning up the loans that turned sour amid the financial crisis and recession that followed. Kansas City area banks have made progress with their cleanup — though some still struggle ...
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Kansas City Star
How MF Global Almost Got Away With Everything
Minyanville.com
But, as you can see, the financial system is deeply flawed and is rigged in favor of Wall Street and against the ordinary investor. The causes of the financial crisisthat appeared in the US in 2009 have not been resolved, only papered over (withmoney ...
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MARK DOW: Finally, People Are Beginning To Understand That All This Money ...
Business Insider
The chart shows the trade-weighted value of the dollar (blue) compared to the level of "base money" (red). As you can see clearly, the dollar declined steadily in the years leading up to the financial crisis, and has basically been rock-solid ever ...
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Big Banks Suffer Credit Downgrade
Forbes
The victims included seven of the eight largest US banks. The new standards take a broader view of the economic environment, in an attempt to identify the type of systematic risk that plagued the industry during the financial crisis. ...
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How Did Italy Get To This Point?
San Francisco Chronicle
Unfortunately, this is not a small or inconsequential country in the financialmarkets. Tiny Iceland and Ireland sent ripples through the financial markets, but Italy is the third-largest economy in the eurozone. Roughly half of that debt is held by ...
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How MF Global Collapsed by over Hypothecat​ing and Who is Next?
The Market Oracle
In 2007 it earned about $2 billion from its operation but dropped to about $500 million in 2010 due to the fact that interest rates are falling all over the world due to the on going financial crisis. Governments of the world tried to prop up their ...
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Navigating the Oddball Volatility of the Euro Crisis
Schaeffers Research
I mean, if recent history has shown us anything, it's that central banks will eventually figure out a way to throw enough money at the financial sector that the markets will stabilize. Or, at least, we'll perceive them as stabilized. ...
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German Bank 'Seeking A Second Bailout'
Sky News
It is already 25%-owned by German taxpayers after it was given a previous bailout of 18.2 billion euros following the damaging takeover of rival Dresdner bank at the height of the financial crisis in August 2008. The European Banking Authority has ...
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Sky News
Seamus Coffey: EU leaders are doing their very best not to face up to the ...
Irish Independent
Some proposals include the ECB 'printing' money and providing funds for the IMFto lend to governments or perhaps even giving the money to eurozone banks to lend to their countries. This would involve a significant relaxing of the ECB's controlled role ...
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Mortgage Bonds Rally as Fed Backstop Seen in QE3: Credit Markets
San Francisco Chronicle
Bonds of Charlotte, North Carolina-based Bank of America Corp. were the most actively traded US corporate securities by dealers yesterday, with 77 trades of $1 million or more, according to Trace, the bond-price reporting system of theFinancial ...
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World central banks launch co-ordinated action to fight financial ...
World central banks launch co-ordinated action to fight financial crisis - 30 ...Whatever our creditors [the EU and IMF] say they're not working." ... 5.34pm: Analysts at Capital Economics have explained why central banks acted today. ...on the central bank news, remarkably little has been happening in the euro crisis. But not ...
www.guardian.co.uk/.../eurozone-crisis-finance-ministers-imf
IMF Survey: Hong Kong Economy Sound, but at Risk from a Euro ...
Chinese bank employee counts renminbi. Hong Kong has become the top offshore market for the Chinese currency (photo: Qilai Shen/Corbis) ... Outlook solid, buteconomy faces risks from euro area crisis; Property market ... “As a small, very open, economy that is reliant on trade and financial ... Follow us for the latestnews ...
www.imf.org/external/pubs/ft/survey/so/.../CAR120911A.htm
Europe leans on IMF as crisis plan falls short - Nov. 30 ... - CNN Money
Finance ministers from Greece, Germany and the newly appointed Prime ... latest talk of the IMF acting as an intermediary for the European Central Bank comes as... in the new offerings, but stressed that it will take time for the leverage to work.... on the ECB against providing direct support for troubled euro area economies....
money.cnn.com/2011/11/30/news/.../europe.../index.htm
It's time for the IMF to step up in Europe | Lawrence Summers
All of this is necessary and desirable, but the world economy will remain on edge.... that the IMF would lend money to a country whose central bank was not committed to an ... Photo: IMF Managing Director Christine Lagarde attends at anews ... During the Asian financial crisis, the IMF was pilloried by the pols who took its ...
blogs.reuters.com/.../its-time-for-the-imf-to-step-up-in-europe/

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