Today: FINANCIAL News, Money, Banks, Economic and Financial Crisis, Jan 17, 2012

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Jan 17, 2012

FINANCIAL News, Money, Banks, Economic and Financial Crisis, Jan 17, 2012

Global leaders urge swift action to resolve Europe crisis
Reuters
He said banks required more capital to reduce the scale of deleveraging and in the end more integration, both fiscal and financial, to ensure the viability and stability of the monetary union in Europe. "Deleveraging now threatens to push global growth ...
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Debt crisis: live
Telegraph.co.uk
These initiatives push forward the necessary fiscal consolidation and structural reforms in our Member States, address the fragilities of the banking sector, reinforce our financialbackstops and strengthen our economic governance. ...
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Telegraph.co.uk
Debt crisis: as it happened January 16, 2012
Telegraph.co.uk
By Szu Ping Chan and Andrew Trotman 21.15 Log on to ourfinancial crisis page for more news and analysis. 20.55 With US markets closed today, that's where we leave it. Here's a quick round-up of today's events: • S&P has stripped the European Financial ...
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Telegraph.co.uk
'Bloated' London Banks Shrink in the City
Bloomberg
While defending London's financial interests in Europe, the UK government has been talking tough on the industry at home, where unemployment is at a 17-year high and the economy has struggled to grow following the financial crisis four years ago. ...
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Bloomberg
Europe Crisis Rescue Begins With MIT Men
Bloomberg
The result: Six leading monetary authorities agreed to make it cheaper for financial institutions outside the US to borrow dollars in emergencies. The funding squeeze on European banks eased and stocks worldwide rallied. The Nov. ...
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Bloomberg
Debt crisis: as it happened January 12, 2012
Telegraph.co.uk
An IMF team will visit Greece on January 17 to discuss recenteconomic developments. 15.26 The National Institute ofEconomic and Social Research (NIESR) has produced this interesting chart, comparing the current financial crisis with recessions of the ...
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Telegraph.co.uk
A Bank Chief Stays Ahead of Crises
New York Times
It was among the first in Asia to begin raising interest rates in early 2010, after the global financial crisis subsided. That early response helped neutralize the inflationary threat that stalked most of its neighbors last year. Now the centralbank's ...
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UK taxpayer may have to pour in billions more to prop up euro as European ...
Daily Mail
A senior IMF executive told a meeting of finance and bankingchiefs in Hong Kong that the euro posed a major threat to prosperity around the world. 'Without action, Europe could be swept into a downward spiral of collapsing confidence, stagnant growth ...
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Daily Mail
Debt crisis: as it happened January 11, 2012
Telegraph.co.uk
Almost all of the money loaned to 523 euro-area lenders last month wound up back on deposit at the Frankfurt-based centralbank instead of pouring into the financial system. The euro has fallen against the dollar today to 1.2695. ...
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Telegraph.co.uk
Debt Crisis: Live
Telegraph.co.uk
Detlev Schlichter, author of Paper Money Collapse – The Folly of Elastic Money and the Coming Monetary Breakdown, says "all paper money systems lead to collapse. If we went back to a gold-based system then the economy would be limited infinance. ...
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Telegraph.co.uk
Analysis: Credit downgrades put onus on Germany
USA TODAY
The main risk of a more expansionary European Central Bank, would have to be borne by the Bundesbank. Eurobonds, in which debt would be backed by all eurozone countries and is seen by many in Europe as the final solution to the crisis, ...
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USA TODAY
How would Mitt Romney prevent the next financial crisis? It's not clear.
Washington Post (blog)
“Some of the concepts in Dodd-Frank have a place,” Romney says in his campaign's detailed economic platform. “Greater transparency for inter-bankrelationships, enhanced capital requirements, and provisions to address new forms of complex financial ...
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Greece's Debt Talks With Creditors Stall
Bloomberg
Proposals by a committee representing financial firms haven't produced a “constructive consolidated response by all parties,” the Washington-based Institute of International Finance said in a statement yesterday. Talks with Greece and the official ...
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Bloomberg
Why ECB's Tricks Won't Solve the Crisis
Spiegel Online
In economic terms, he adds, whether the ECB purchases bonds directly, or makes money available to the banks to do so, ultimately amounts to the same thing. "The ECB is increasingly assuming the role of a provider of public-sector finance and is helping ...
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Spiegel Online
Capitalism in crisis: Perilous path to prosperity
Financial Times
Changyong Rhee, chief economist at the Asian DevelopmentBank, feels the sense of intellectual disarray. Much of the confusion, he says, stems from the fact that western governments have changed their tune so radically since Asia's own financial crisis ...
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Financial Times
Inside the Fed in 2006: A Coming Crisis, and Banter
New York Times
Meanwhile, by the end of 2006, the economy already was shrinking by at least one important measure, total income. And by the end of the next year, the Fed had started its desperate struggle to prevent the collapse of the financial system and to avert ...
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New York Times
Hungarians bank on Austria to secure savings
Financial Times
That finally prompted the government to repair fences with the International Monetary Fund in hope of obtaining a financial backstop. A Hungarian delegation met Christine Lagarde, IMF managing director, in Washington. Istvan Karagich of BloChamps ...
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Debt crisis: as it happened, January 10, 2012
Telegraph.co.uk
Website Oggi reports (translation by Google): Mario Draghi may be inflexible when it comes to having to deal with markets,finance and money, but he seems to be much more "flexible" with regard to the rules of the road. The European Central Bank...
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Telegraph.co.uk
Euro Economy's Crisis Respite Gives ECB Room to Pause Interest-Rate Cuts
Bloomberg
Banks are instead hoarding the money and parking it back at the ECB. Overnight deposits at the central bank jumped to a record 486 billion euros this week. Italy needs more help from the ECB to emerge from its “self fulfilling” liquidity crisis, ...
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Bloomberg
Citi, JPMorgan Report Lowest Revenue Since '08
Bloomberg
(JPM) in posting its lowest revenue since the height of 2008'sfinancial crisis as trading slumped. Wells Fargo & Co.'s revenue slid less as core lending businesses improved. Citigroup said fourth-quarter revenue fell 7 percent from a year earlier to ...
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Bloomberg
Hungary's Negotiators Hit the Road Before Crucial EU Meeting
Wall Street Journal (blog)
The team's mission is to prepare for official negotiations with the IMF and the European Union on a loan package that would secure a financial safety net for Hungary in troubled times. Mr. Fellegi holds discussions Monday and Tuesday in Frankfurt with ...
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JPMorgan profit falls, but sees hope in economy
Reuters
By David Henry (Reuters) - The drag of the European debt crisis on investmentbanking weighed on JPMorgan Chase & Co's fourth-quarter profit, sendingfinancial stocks tumbling even as the bank provided evidence that the domestic economy is ...
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Five Smart Ways to Deal With Financial Setbacks
Fox Business
Faced with a financial crisis? Found yourself unemployed or seen yourfinancial portfolio tank along with the stock market? Chances are you are not alone. In this economy, financial setbacks are a common occurrence, but that doesn't mean all is lost. ...
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Ireland at the end of the road
Telegraph.co.uk
By the time of the global financial crisis of 2008, Ireland's bankswere awash with loans, mostly to property developers; the notorious 'world's worst' Anglo Irish Bank, which was later nationalised, alone held €72 billion of loans – half of Ireland's ...
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Telegraph.co.uk
Bank of Japan Plans to Make Investing Unprofitable
OilPrice.com
The Japanese are going "all-in" on economic stimulus. Since the financial crisis, "monetary easing" has been a buzzword globally. For many governments, such policy has consisted of central banks buying government bonds. In essence, the banks pump new ...
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Eurozone crisis: Troika's gunboats will get their way, at a cost
The Guardian (blog)
Banks and hedge funds are playing hardball because they know that Athens needs the debt writedown and that the troika is desperate to avoid a Greek default. It is international finance'sversion of Sartre's Huis Clos, a vision of hell where three ...
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The Guardian (blog)
Fed Turns Over $77 Billion in Profits to the Treasury
New York Times
Through those purchases, the central bank has become the largest single investor in federal debt and securities issued by the government-owned mortgage finance companies Fannie Mae and Freddie Mac. As a consequence, most of the money flowing into the ...
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Fix shareholder rights
CNN
Mayo's book, and his testimony before the congressional committee that investigated the financial crisis, detail ways in which executives mislead investors. "I'm outraged," he says, "I'm furious." He's not alone. A growing number of those who earn ...
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What Does Wall Street Do for You?
New York Times
The financial-services industry, however, performs a kind of fiscal time travel by pooling the nation's collective savings and transforming it into all sorts of loans. This allows people to spendmoney now that they won't earn until later. ...
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New York Times
Banks flooding Romney's campaign coffers
Kansas City Star
The influence of corporate money has long been decried by consumer advocates, and giving from banks even more so in the wake of the financialmeltdown. The final report from the Financial Crisis Inquiry Commission cited the fact that between 1999 and ...
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Crisis kills revival in Europe microcosm Belgium
Reuters
"In 2010, people thought we were getting back to doing business, but Lehman Brothers taught us how quickly a financial crisis can start hurting the realeconomy," the port's Bruyninckx said. Franco-Belgian banking group Dexia also learned that lesson ...
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Recovery at risk as Americans raid piggy banks
Financial Post (blog)
Estimated outflows were US$354-million between July and September contrasted with inflows of US$927-million in the same period of 2010, according to Financial Research Corp. Indicative of the trend, contributions to the 529 plans managed by investment...
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Financial Post (blog)
Economy: Why the 'good' news isn't
Christian Science Monitor
Like its US counterpart, the ECB will not permit a major bank or sovereign debtor to go bust. “ECB sees signs of let-up in debtcrisis,” is today's headline in The Financial Times. Let's see…the news report goes on to tell us that Spain and Italy were ...
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Christian Science Monitor
Why the EU Debt Crisis Isn't Being Fixed
NASDAQ
Nor is it mentioned that the Japanese (NYSEArca: EWJ) with similar financialproblems in their financial system have now been hopeful for twenty years that their economy will fix itself. Wishful thinking doesn't fix markets, nor does plans for spinning ...
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German ZEW index shows record jump in January
Reuters
"With a certain delay, we could expect an end of the phase of economicweakness in Germany." Germany's export-driven economy recovered quickly from the 2008/09 financial crisis, but began to feel the pinch late last year as the Greek debt crisis spread ...
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Egypt takes step back from brink with IMF talks
Gulf Times
Egypt is taking a step back from financial crisis by resuming talks with the International Monetary Fund on emergency aid, but it is unlikely to escape a drop in its currency or see any quick revival of the investment needed to fuel growth. ...
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Gulf Times
China Economic Growth May Slow to 10-Quarter Low With 'Worst Yet to Come'
Bloomberg
The central bank halted sales of bills and repurchase contracts at the end of December to ease the crunch and added funds to thefinancial system for the third week, according to data compiled by Bloomberg. The IMF is scheduled to release revised ...
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Bloomberg
Gros regards Europe's regional split of savings habits as one of the key ...
CNN International
Given that these countries also provide more than half of the financing of the eurozone bail out fund (the European Financial Stability Facility) it was only logical that this institution also lost its AAA rating. One could be tempted, following the ...
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Layoffs Hit Wall Street As Financial Needs Change
WBUR
Banks used to make big profits trading with their own money, and that's now being curtailed by regulators who say it's too risky. Regulators are also requiring banks to put more money aside in case of future financialdownturns. ...
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Show Wind the Money: Financing Renewable Energy in a Sluggish World Economy
Justmeans
Amidst the financial crisis, many banks are lending less. What does that mean for renewables? As those in the renewable energy sector in the United States anxiously await the fate of the Production Tax Credit (PTC), an important financing tool set to ...
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Interest Rates Are Too Low!
Huffington Post
Removing the ability of central banks to use one of the best tools in their kit, interest rate adjustment, could make the next financial crisis even worse. However, that is essentially what has happened in the countries that now have ultra-low interest ...
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Dividends Rise in Sign of Recovery
New York Times
In doing so, it will join a broad range of companies that weathered a challengingeconomy and are now delivering their best payments to shareholders since thefinancial crisis. If analysts' forecasts come true, that trend will continue later into the ...
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IMF to work with Asia on global economic crisis
IMF intention to work closely with Asia on global economic crisis. ... If there is good news, it is that we know what policies are needed, and we ... He said Asia emerged from the 2008 financial crisis with its global standing ... Money &Banking ...
www.brecorder.com/.../42484-imf-to-work-with-asia-on-glob...
Eurozone crisis: Swiss bank chief quits over dollar trades | Business ...
We'll also be watching the financial markets, where the euro slumped badly ...8.15am: Germany and France have both received encouraging economic news this ... row with his eurosceptic backbenchers over Britain's contributions to the IMF. ... from deflation, or they fear that there is nowhere better to place their money. ...
www.guardian.co.uk/.../eurozone-crisis-merkel-sarkozy-fiscal-...
IMF underscores deeper partnership with Asia on global economic ...
Two areas he singled out where the IMF's work can support the region's interests are enhancing economic and financial surveillance for crisisprevention, and ...
nigeriancompass.com/index.php?...id...

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