Today: FINANCIAL News, Money, Banks, Economic and Financial Crisis, Mar 24, 2012

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Mar 24, 2012

FINANCIAL News, Money, Banks, Economic and Financial Crisis, Mar 24, 2012

How a Fort Worth financial firm survived two banking crises
Fort Worth Star Telegram
Fast-forward to the peak of the financial crisis in 2008. The nation's housing bubble, inflated by loose lending standards and investors' seemingly unlimited appetite for subprime and questionable mortgages, burst spectacularly with disastrous ...
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Banks Ready to Lend Again, But Now Borrowers Are Skittish
DailyFinance
By AP By PALLAVI GOGOI, AP Business Writer Since the credit crisis of 2008, everyone has been waiting for the banks to start lending money again. It's finally happening, but there's a catch: Businesses are afraid to spend it. Bankloans to businesses ...
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Shiller Praises Finance, Soros Sees 'Trap': Top Business Books
BusinessWeek
Mayo, an old-school bank analyst, chronicles his battle to change the status quo on Wall Street. “Extreme Money” by Satyajit Das (FT Press). An idiosyncratic yet withering analysis of how 30 years of financial alchemy and excessive credit plunged us ...
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Analysis: Do not panic: The rally in risk assets is for real
Orlando Sentinel
After several false dawns following the global financial crisis, more investors are starting to believe the current rally in stocks, commodities and emerging markets could be a long-lasting one. The S&P 500 closed above 1400 points last week for the ...
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Money moves 5 doomsayers are making now
MarketWatch
By Wallace Witkowski, MarketWatch SAN FRANCISCO (MarketWatch) — They are sentries at the stock market's wall of worry, warning investors to prepare for another epic crash for debt-laden economies. Yet with US equity markets on a tear since early ...
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Watchdog tells British banks to raise capital
MarketWatch
In a statement on its March meeting released Friday, the Bank of England'sFinancial Policy Committee said immediate market tensions have eased, but the outlook for financial stability was still fragile. “The Committee remained concerned that capital ...
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MONEY MARKETS-Euribor futures fall on euro zone debt concerns
Reuters
"The ECB will keep interest rates low and focus on non-standard measures as the financial crisis is feeding back into the real economy," Commerzbank strategists said. INTERBANK RATES TO FALL FURTHER Most measures ofmoney market stress eased further on ...
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Investors take fright, grab profit on Italian debt
Reuters
Banks used this money to buy their own countries' government debt, driving yields lower and stabilising the bond market. But in recent weeks, fresh concern over Spain's worsening economic outlook and budget deficit reminded investors the euro zone debt ...
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Morality crisis is in the boardrooms, not bedrooms
San Francisco Chronicle
We're living through a new Gilded Age of financial fraud and conflicts of interest; exorbitant pay to executives, traders and hedge-fund and private-equity managers; tax loopholes that allow them to pay a lower rate than many middle-class Americans; ...
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Economic Outlook: Eurozone faces scrutiny
Financial Times
By Neil Dennis This week will be a test for eurozone financial markets, and investors will be closely scrutinising confidence surveys and growth data for signs of improvement in the region's economy. Mario Draghi, European CentralBank president, ...
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What Bernanke gets wrong about the gold standard
Christian Science Monitor
On the topic of financial panics, Bernanke asks the students if they've seen the movie “A Wonderful Life.” Not as many students had seen the movie as he had hoped. Bank panics are a serious problem Bernanke explains. Banks borrow short and make ...
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Christian Science Monitor
A Tale of Two Donors: Cash-Strapped Ireland Outshines Germany in Humanitarian Aid
TIME
By Megan Gibson Friday, Mar. 23, 2012 Irish author Anne Enright once suggested that Ireland just might not do recession the way other countries do. While there's no denying that the beleaguered country is in the middle of afinancial slump, ...
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Central Bankers Big Weekend Convention: More Easy Money Ahead?
Yahoo! Finance (blog)
By Matt Nesto By Matt Nesto | Breakout – 13 hours ago In many respects, thefinancial crisis of 2008 seems like a distant memory, and yet our unique responses to combating it are still very much with us today. In fact, the merits of so-called easing ...
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Investors to cash in first quarter chips, future more opaque
Reuters
The ECB has played the critical part, creating more than a trillion euros of three-year money for banks to feast on, some of which has leached into stock and bond markets. But it is highly unlikely to repeat the process. Other major central banks seem ...
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Corporate governance: succession planning through crises and emergency transitions
Reuters Blogs (blog)
Companies historically kept succession plans close to their vests, but recent succession episodes at Apple Inc., Bank of America Corpand Hewlett-Packard have highlighted the multitude of issues that shareholders have with respect to the concern shown ...
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M&A activity seen increasing after slow start in 2012
Reuters
MIWD00000PUS are up 11.4 percent year-to-date, benchmark 10-year US treasuries yielded below 2 percent for most of the first quarter, while centralbanks globally continued to flood the financial system with cheap money. "As we move into this summer ...
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When central banks fail
Gold Seek
A more recent example of a dilatory central bank response to a major economic crisis can be seen in the European CentralBank's (ECB) eleventh hour decision to roll out a €1 trillion rescue package for the troubled eurozone.
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Gold Seek
Is Bhutan looking down the barrel
Kuensel, Buhutan's National Newspaper
The financial crisis is only temporary.” Every time a headline like this appears in the Wall Street Journal, the next day the stock market crashes. In a situation like this, one thing every banker knows is to deny that there is a problem.
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Bailout worries see Spanish bond yields rise
Palm Beach Post
latest money news » From The Post and AP By CIARAN GILES AP MADRID — Concerns over Spain's economy and fears that it might eventually be heading for a bailout pushed the country's borrowing costs in the world'sfinancial markets higher on Friday.
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ECB's hardliners plot exit plan as crisis averted
The News International
“The monetarists are back,” said Nomura economist Jens Sondergaard, recalling that when the ECB was set up Germany pushed for the bank to adopt a twin-pillar strategy that looked not just at the economy, but also at moneysupply.
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How US banks became blueprint for Europe
Financial Times
By Tracy Alloway in New York In late 2008, with Lehman Brothers on the verge of collapse, no one would have expected the US banking system to become a model for anything other than financial chaos. Fast forward three-and-a-half years and America's ...
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It's a Good Time To Refinance
Wall Street Journal
This comes as investors who stashed their money in Treasurys as a safe haven are beginning to sell and move into riskier holdings now that the US stock market and European economy are looking a bit healthier. Rates could go even higher if the Federal ...
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Wall Street Journal
Global Inflation 'Disaster' Coming, Economist Xie Warns
International Business Times
In the years since the 2008 global financial crisis, the United States and Europe have maintained very loose monetary policy, and Japan has recently expanded its stimulus, James Bullard, president of the Federal Reserve Bank of St. Louis, ...
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International Business Times
5 reasons the dividend boom isn't about to go bust
Palm Beach Post
That announcement came a week after major banks moved to restore their dividends, after cutting them during the financial crisis to conserve cash. At least nine top banks plan to raise their payouts or are considering doing so after the government ...
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Saturday Papers: Crackdown on cash-in-hand for nannies
Citywire.co.uk
by Himanshu Singh on Mar 24, 2012 at 00:01 Financial Times: Families who pay cash-in-hand wages to a nanny are facing a crackdown by HM Revenue & Customs, which intends to target the thousands of affluent households who are employing childcarers ...
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Insurers Hitting Whitney Bid Reaped Biggest Returns: Muni
BusinessWeek
“We felt that state and local governments were going to continue to come under stress after the financial crisis,” Judith Greffin, chief investment officer of Allstate Corp., the largest publicly traded US home and car insurer, said by telephone.
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Your Investment Strategy after Union Budget 2012
Moneycontrol.com
Also to enthuse savings habit among individuals, the financeminister wants us to preserve more money in the banksavings account, and thus has offered an exemption on the interest income of upto Rs 10000 from savings account, in the next fiscal year.
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Moneycontrol.com
National business briefs for March 24
Richmond Times Dispatch
He urged economic policymakers to learn from that lesson. The Federal Reserve chairman noted the extraordinary steps taken by the Fed and other central banks around the world to stabilize financial systems, during a two-day conference on the crisis.
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Breaking Up the Banks - The Dallas Fed Weighs In
Policyshop (blog)
Their primary argument is that financial institutions remain “too-big-to-fail,” risking another painful and damaging bailout if a large financial crisis is threatened. In their view, the continuing cloud of too-big-to-fail hanging over theeconomy is ...
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Peter Schiff of Euro Pacific Capital Sees Rocket Ship Being Set Beneath Gold ...
PR Web (press release)
“But, simply look beneath the surface, the economy is actually in decay andcrisis, and being set up for the next big crisis that the Fed is not even prepared to handle.” Peter Schiff has made a number of accurate economic prediction over the last ...
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Why Treasurys Won't Crater
Wall Street Journal
Because yields and stock prices have generally moved in the same direction since the financial crisis began in 2008, the low yields prompted many investors to doubt the stock market's surge in 2012. The uptick in yields was thus an acknowledgment, ...
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Is Fed Endorsing Ending to Too Big to Fail?
Mortgage News Daily
"In addition to remaining a lingering threat to financial stability," Fisher says, "these mega banks significantly hamper the Federal Reserve's ability to properly conduct monetary policy." Likening the economy to a car he said that the Fed had filed ...
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MAULDIN: A Random Walk Through The Data Minefields
Business Insider
John Mauldin is a bestselling author and financial advisor. He publishes a free weekly email on the economy--"Thoughts From The Frontline" and I dare a little more as I grow older." This Friday finds me sleeping later than I planned … in the lounge at ...
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Turning point in the currency war
NDTV
A counteroffensive of sorts may be underway this year in what has seemed like a one-sided "global currency war" as developing economies slow, westernmoney-printing pauses and the heat comes out of pumped-up emergingmarket currencies.
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Said The Fed: "Damn The Accountants...Full Speed Ahead!"
Seeking Alpha
The only mention in the financial statements of the largest central bank on the planet that something could go wrong with their core strategy for supporting theeconomy reads as follows (from the footnotes to the balance sheet; emphasis mine): ...
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Big Banks Benefitting From Stronger Financial System: Market Wire ...
The test evaluates whether the banks have enough money on hand to withstand another severe economic and financial crisis. According to the Fed, the results ...
money.msn.com/business-news/article.aspx?feed=MW...
Bernanke Says Risk of European Contagion Still a Concern | Fox ...
In particular, U.S. money market funds, with 35% of their assets in European... He will again describe direct exposure of U.S. banks to “peripheral” countries like ... to the economic and financial stresses that might arise from a severecrisis in ... Sign up for free e-mail news alerts from FoxNews.com and FoxBusiness.com.
www.foxbusiness.com/.../exclusive-bernanke-says-risk-europe...
Financial News Mon Mar 12th 2012 – Greece ... - Financial Debt Crisis
Financial News Mon Mar 12th 2012 – Greece Bailout, Financial Crisis – by ...at the 19 largest banks, would withstand an economic downturn even more severe, ... stocks or other investments you should know exactly where to put you money ...
financialdebtcrisis.com/.../financial-news-mon-mar-12th-2012...
Big Banks Benefitting From Stronger Financial System - Yahoo ...
The test evaluates whether the banks have enough money on hand to withstand ... Press Release: Paragon Financial Limited – Fri, Mar 16, 2012 8:20 AM EDT ... money on hand to withstand another severe economic and financial crisis. ... on Bank of America Corporation (NYSE: BAC - News) and JPMorgan Chase & Co.
finance.yahoo.com/.../big-banks-benefitting-stronger-financial...
Citi Shares Sink After Bank Fails Fed Stress Test - ABC News
The test evaluates whether the banks have enough money on hand to withstand another severe economic and financial crisis. The results were mostly positive, ...
abcnews.go.com/.../citi-shares-sink-bank-fails-fed-stress-test-1...
Treasury profits from sale of mortgage-backed securities - Mar. 19 ...
Treasury just scored a big win -- it got rid of one of its financial-crisis era portfolios ... Treasury Secretary Tim Geithner is a big winner with news that Treasury made a ... gave Treasury some $700 billion to bail out banks and save the economy. .... Subscribe to Fortune · Subscribe to Money · Give the Gift of Fortune · Give the ...
money.cnn.com/2012/03/19/news/.../mortgage-treasury/
Time to stop rewarding economists for bad behaviour - Mindful Money
The social news and knowledge network for the investment community ...These crises, typically generated by overlending by the financial sector and crashing housing ... Thus, there should be little to no bubble activity within a freer market economy. ... lenders, investment banks, hedge funds, moneymanagement funds, etc.
www.mindfulmoney.co.uk/...-/time-to-stop-rewarding-econo...
A Wall St. Firm Advises Greece, With Discretion - NYTimes.com
They belong to what has become the go-to SWAT team in financial crises. ...tries to fix its banking industry and its broader economy, but the task is a risky one. ... high and the banks may struggle to find investors willing to come up with the money. .... “The consumer lending market is relatively new in Greece, and they were ...
dealbook.nytimes.com/.../in-greek-crisis-a-little-known-advise...
UK banks told to raise more capital | Business | The Guardian
The Bank of England's financial policy committee has recommended that ...not going to ask the government for powers to intervene in the mortgagemarket. ... by the eurozone crisis and need to restrict bonuses and dividends to amass capital. ... to those countries where risks of persistent low economicgrowth and potential ...
www.guardian.co.uk/business/.../uk-banks-raise-more-capital
Making an exit | Money Supply | News, data and opinions on market ...
The top economics writers at the Financial Times share insights into the global ... bond purchase programme, launched at the height of the crisis in November. ... on the amount of liquidity offered through their auctions of centralbank money, ...
blogs.ft.com/money-supply/2012/03/22/making-an-exit/

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