Today: FINANCIAL News, Money, Banks, Economic and Financial Crisis, Jan 03, 2012

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Jan 3, 2012

FINANCIAL News, Money, Banks, Economic and Financial Crisis, Jan 03, 2012

Polish finance minister interviewed on "safe scenario" for eurozone crisis
LoanSafe
[Aleksandrowicz] To what extent are we sovereign in our economic policies, and to what extent dependent on world events? [Rostowski] As Leszek Balcerowicz [former financeminister and central bank governor] said recently, the only truly economically ...
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Eurozone crisis: calendar of key events in January
The Guardian
13: Italy will be back in the markets, to borrow money over 5 years. • 16: Inspectors from the European Commission, the IMF and the European Central Bank (Troika) will return to Greece to assess its progress towards resolving its debt crisis. ...
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The Guardian
Hungary Banks, Treasury Fees, South Korea Banks, CDR Financial: Compliance
Bloomberg
FSOC Proposes Dodd-Frank Rule on Assessments for Treasury The Financial Stability Oversight Council, a group of regulators charged with preventing a financial crisis, approved a proposal Dec. 29 outlining how the US Treasury's assessment fee would be...
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Is the Euro Crisis Over?
Real News Network
The intermediary function, which means the banks are supposed to get money tofinance productive purposes in the real economy, broke completely. The banks did the opposite. They provided funds to the least productive activities, the most fraudulent, ...
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The Threats to Greece's Debt Deal
Wall Street Journal (blog)
By Matina Stevis AP A flare burns in front of riot police during a protest about the European financial crisis in front of the parliament in Athens in November 2011. The process of imposing losses to private-sector holders of Greek debt–known as ...
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Eurozone crisis: What it means and how it affects world economy
Zee News
A country embroiled in a Sovereign Debt Crisis may see the crumbling of its banking system, flight of investment and currency collapse. Aneconomic crisis inevitably leads to lay-offs, closure of businesses, shrinking purchasing power and financial ...
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Zee News
Banks start 2012 with a bang. Why?
CNN
That's why some money managers think that smaller, regional banks are better investments if you believe the US economy is really on the mend and that financialstocks should get a corresponding lift. It's easier to understand banks that stick to the...
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Should banks bail out companies?
Business Standard
Yes, provided the financial health of banks is not impaired; but there is a great risk of companies misusing rescue funds. The Indian economy faced tough conditions over the past 12 to 18 months. Persistent high inflation forced the monetary policy to ...
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Business Standard
Morning Take-Out
New York Times (blog)
In the first half of 2011, the dollar volume of announced mergers worldwide neared its highest level since the financial crisis. But that momentum proved fragile as deal volume tumbled 19 percent, to about $1.1 trillion, in the second half of 2011 from ...
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Will the global economy finally recover in 2012?
TIME (blog)
If the debt crisis truly reaches a meltdown in Europe, dragging down European banks, the ripple effect on the American financial sector will damage the outlook even further. So it is more important than ever that Europe's leaders find ways to support ...
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Tuesday Papers: Economic consensus foresees a bleak 2012
Citywire.co.uk
The Daily Telegraph (Comment): With the crisis close to its worst point, 2012 will be the critical year for the eurozone. Financial Times (The Lex Column): Securitisation: sound processes can play their part in removing risk from banks – that is ...
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The global economic crisis and South Africa
Politicsweb
Instead of serving, they are draining the economy. Solid investment (factories, infrastructure and so forth) has been steadily replaced with silly money (luxury consumerism, real estate bubbles, phoney financial instruments, everything on tick). ...
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Dollar Demise Refuted With 13% Gain Since 2008
Bloomberg
The appeal of US financial assets can be seen in the market for Treasuries, which gained 9.8 percent, the most since 2008 at the height of the financial crisis. Treasuries due in 10 years or more soared 29 percent. Foreign Holdings The Treasury ...
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Bloomberg
Chavez's spending could boost Venezuela inflation
The Associated Press
In the 1990s, for instance, Venezuela's inflation rates topped 80 percent, though that was in the midst of a major financial crisis. Today's financial situation is different, however, and still the government hasn't been able to lower inflation below ...
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World's Biggest Economies Face $7.6T Debt
Bloomberg
Investors may demand higher compensation to lend to countries that struggle to finance increasing debt burdens as the global economyslows, surveys show. The International Monetary Fund cut its forecast for growth this year to 4 percent from a prior ...
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Bloomberg
Forecast of Events That Could Affect Gold and Silver Prices in 2012
Coin Update News
In the US, Bank of America is perhaps in the most precarious position. The Eurozone nations and the US government will both become more dysfunctional at preventing financial crises—which I foresee a 95% probability of occurrence. ...
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Coin Update News
The Philippine central bank
Philippine Star
Some of the titles of the essays are as follows: “The macroeconomic perspective;” “Economic crises in the 1950s-1970s;” “The crises of confidence 1981-1987;” “The Asian financial crisis 1997-1998;” “Financial cooperation in East Asia;” and “Financial...
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The 2012 recovery: handle with care
Financial Times
The dominant theoretical paradigm holds that a financial crisis cannot happen and cannot matter if it does happen, at least provided broadmoney is not allowed to collapse. In this view, the only things now holdingeconomies back are structural ...
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Financial Times
Can the ECB Offer a Quick Fix for the Crisis in 2012?
CNBC.com
The risk if they do not is money sitting in the ECB's overnight deposit window rather than finding its way into the real economy. Others, like David Jones, the chief European financial economist at Jefferies, believe the threat of deflationary pressure ...
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CNBC.com
The Risks To The Global Financial System In 2012
Seeking Alpha
Where the money will come from is not clear. None of the problems that could strain the global financial system originated in 2011. They have been building up for years and even decades. The first major blow up was the Credit Crisis in 2008. ...
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Draghi risks German ire on top job
Financial Times
Wolfgang Schäuble, German finance minister, described Tuesday's decisions as “balanced”. A possibly riskier step would have been for Mr Draghi to have given theeconomics portfolio to Benoît Coeuré, former deputy head of the French Treasury, ...
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Jim Sillavan on London 2012 and the eurozone crisis – cartoon
The Guardian (blog)
Ironic that those whose obsessive pursuit of gold are entirely to blame for the financial crisis. Well the Fat Cat haters will love this 'toon :) So does it represent the UK chasing after money as Cameron thinks the Olympics will boost the economy and ...
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Gold confiscation- could it become a reality?
Moneyweb.co.za
There is increasing worry that The US and other governments may confiscate citizens' gold holdings and use them to help mitigate the Global Financial Crisis. Julian Phillips discusses. BENONI - Many of the leading fund managers in the US and elsewhere ...
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Echoes of 1930s in troubled West
BusinessWorld Online Edition
DYSFUNCTIONAL POLITICS threatens to deliver a protracted period of slow global growth, possibly lasting well beyond 2012, which will only deepen the political andeconomic problems for the West. The global financial crisis that began four years ago has ...
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Investors back away from Asia amid financial crisis, Japanese tsunami
The Australian
MANUFACTURING contracted in South Korea and Taiwan but grew in India, as the EUcrisis hit Asia's export economies. In contrast, the South-East Asian markets of Indonesia (up 2.8 per cent) and the Philippines (up 4.1 per cent) managed to finish the ...
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Nigeria: We Need to Unlock the Agriculture Sector - Sanusi
AllAfrica.com
Exerpts: After two years of commencement of reforms in the banking sector, are there other areas of adjustment, refocus? After two years of focused attention with operators, the Nigerian financial crisis is on the final lap of resolution. ...
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Hungary gov't set to tap and burn c.bank foreign currency reserves - source
portfolio.hu
Former finance minister László Békesi said using the reserves to finance economicpolicy goals could lead to a state of emergency. "Inflation would skyrocket, the forint's exchange rate would depreciate dramatically, further increasing the country risk ...
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Africa's battles with capital flight and unjust debt
New Zimbabwe.com (blog)
The total wealth of Africa's HNWIs peaked, according to this source, at $1 trillion in 2007 before slipping to $800 billion in 2008 as a result of the global financial crisis. The sickening reality for Africa is that the assets accumulated by means of ...
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What you'll need in 2012
MoneyWeek
The European Central Bank gave the banks more than $600 billion. The bankers happily took the money. Stocks soared. Nobody seemed to know or care where the ECB got itsmoney. In the last quarter of the year, the public's interest shifted from finance ...
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Global Financial Market Turmoil Overshadows Biotech Successes in 2011
MarketWatch (press release)
But while the industry finished the first half of the 2011 on pace for one of its biggest years of fundraising yet, global economic worries and political fights over government debt in Europe and the United States weighed heavily on financial markets ...
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Danes Balk as Debt Yields Turn Negative on Foreign Demand
BusinessWeek
Denmark is the Nordic region's weakest economy as the country grapples falling consumer spending caused by housing prices that have dropped to a six year-low and abanking crisis that has sapped lending. GDP shrank 0.5 percent in the third quarter and...
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Occupy Wall Street Needs a Wall Street Education
Huffington Post (blog)
This is fundamental to the financial system and seems to be overlooked by those who deem corporations focusing on profits as "shady behavior". Wall Street firms provide many functions: The mortgage crisis was completely stupid -- all around. ...
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International financial news
Ninemsn
BEIJING - China's Premier Wen Jiabao has warned of a difficult start to the year, amid rising concerns over a potential sharp slowdown in the world's second largest economy. FRANKFURT, Jan 3 AFP - The European Central Bank has named executive board ...
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U.S. Federal Reserve Meeting Minutes for December 13 (Text)
Bloomberg
The factors that participants cited as likely to restrain the pace of theeconomic expansion included an expectation that financial markets would remain unsettled until the fiscal and banking issues in the euro area were more fully addressed. ...
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Bloomberg
Suffolk Bancorp Appoints Howard C. Bluver as President, Chief Executive ...
MarketWatch (press release)
This is a financial-institution consulting firm serving the regulatory, transactional, risk management, corporate governance, due diligence and operational needs of the commercial banking, thrift, mortgage and investment banking sectors. ...
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'Efficient' Markets Have Learned Little From Recent History
Seeking Alpha
Perhaps most importantly, the presence of excessive degrees of leverage within a complex and interconnected financial system clearly was a central factor exacerbating the scope of the mortgage crisis, yet a dangerously high level of leverage remains ...
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Collateral Damage
Jutia Group
Martin Wolf put it trenchantly in the Financial Times: "The Earth cannot, after all, hope to run current account surpluses with the people of Mars." The lack of international cooperation to rebalance trade flows is a key reason for continued economic ...
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Purveyors of financial destruction
Washington Times
Thanks largely to the tireless efforts of a former general counsel of the Treasury, Peter Wallison, and his American Enterprise Institute colleague Edward Pinto, we now know “the financial crisis would not have occurred but for government housing ...
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Washington Times
Stocks buoyant after strong US economic data
Seattle Post Intelligencer
As part of the country's second massive financial bailout, private creditors have been asked to forgive 50 percent of their Greek holdings, but many in the markets think that's not enough. There's speculation the so-called Greek haircut may have to ...
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Danish Investors Balk as Debt Yields Turn Negative Amid Foreigners' Buying
Bloomberg
Denmark is the Nordic region's weakest economy as the country grapples falling consumer spending caused by housing prices that have dropped to a six year-low and abanking crisis that has sapped lending. GDP shrank 0.5 percent in the third quarter and...
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Strategists see small gain for S&P 500
Financial Post (blog)
... Central Bank's balance sheet stoked concern the region's debt crisiswill worsen. The S&P 500 lost 0.6 percent to 1257.60, erasing its 2011 gain and leaving the measure with the smallest price change for any year since 1947. Financial companies led ...
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Financial Post (blog)
Bridgewater Takes Grim View of 2012
Wall Street Journal
In Europe, "the debt crisis is [a] long ways from over," he says. The economic and financial morass will mean interest rates in the US and Europe will essentially be locked at zero for years. Robert Prince of Bridgewater at the firm's campus in ...
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Buddy Roemer
Harvard Political Review
Today he is founder, CEO, and President of Business First Bank, a community bank that refused government assistance during the 2008financial crisis. A recent Public Policy Poll has Roemer at 2% among likely Republican Caucus-goers in Iowa ahead of the ...
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Harvard Political Review
Turkey Banks Climb Most Since November as Emerging Markets Gain
BusinessWeek
“If you buy anything in Turkey you have to go with the most liquid which is the financialsector. The Asian data overnight coupled with continued DA strength energized moneyflows to emerging market and risk assets.” The MSCI Emerging Markets ...
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Economy to Continue Painfully Slow Growth
TheStreet.com
US banks are vulnerable to a contagion. European economic powers -- in particular, Germany and France -- appear wholly disinclined toward forging a genuine fiscal union that could engage in continental taxation to finance essential functions of ...
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