FINANCIAL News, Money, Banks, Stock, Economic and Financial Crisis, Jun 02, 2011

The Global Economy is a Very Sick Patient
Daily Reckoning - American Edition
Southeast Asian banks came out unscathed in the global financial crisis but, if property prices in Singapore, Hong Kong and China keep going up, mark my words, there will be a banking crisis. Just because Asian banks withstood the last crisis doesn't ...
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Risk asset correlation strikes again
Financial Times
The “risk-on, risk-off” pattern of market price moves following the 2008 crisis reflects the impact of near-zero official US interest rates and the pumping of liquidity into the global financial system by the Federal Reserve and other central banks. ...
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Goldman Sachs: Too big to prosecute
Salon
By Andrew Leonard The Manhattan district attorney's office has subpoenaed Goldman Sachs, reports the New York Times, seeking information relating to the investment bank's role in the financial crisis. My initial response: Today is a good day to be Matt...
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Salon

For-your-information from Lebanon and around the Middle East
Executive
At the same time, the company said it was confident that low trading activity is only a temporary symptom of the global financial crisis and will improve in light of the sound fundamentals of the UAE economy, citing improvements in April 2011 as a ...
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Global equities: expanding your horizons
Money Management
Although international equities are back in favour, it is far from 'game on' and a return to the booming pre-global financial crisis (GFC) years. Challenges remain, despite cash flows supporting markets and valuations being pretty reasonable, ...
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Hike in benchmark interest rate lures investors to fixed income securities
BusinessDay
This is supported by a base case possibility of reduced demand from Deposit Money Banks – the largest provider of liquidity in the secondary bond market.” Taking a general look at the market in the remaining quarters, analysts at FSDH said that looking ...
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BusinessDay

May ETF Roundup: Launches, Filings and Closures
Seeking Alpha
Perhaps the biggest news of the month was the re-emergence of the European debt crisis. WithGreece in yet another dire situation, many investors are concerned about the overall stability of the euro. Aside from global affairs, the ETF industry made ...
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allAfrica.com: Kenya: Global Crisis Cost Billions in Offshore Savings
Financial depression experienced in the European and American markets saw ... for 86.2 per cent of the total stock of FDI abroad in 2008," the report says. Asset and fund managers usually invest their clients' money in offshore ... Common investments include bond funds that are denominated in emerging market ...
allafrica.com/stories/201105241491.html


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EUROZONE Debt Crisis News, Jun 02, 2011

ECB's Trichet: more EU economic powers next step in crisis
Reuters
AACHEN, Germany - (Reuters) - Europe should consider strengthening central control of economic policy if efforts to deal with its debt crisis do not deliver results, European Central Bank President Jean-Claude Trichet said on Thursday. ...
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The Prague Post - News - Thursday News Briefing

Walter Novak

Václav Havel - Disagreement over demolition plans

NEWS

DEMOLITION Former President Václav Havel has written an open letter to Culture Minister Jiří Besser protesting the demolition of a protected building on Prague's Wenceslaus Square, Radio Prague reported. Havel wrote that his fear of what he called the monster that is to be built there is even greater than his regret at the destruction of the building at No. 47. Proponents of the demolition say that continuous remodeling has left nothing of the original 19th-century structure and that the building is not a cultural monument. A nine-story office and commercial building is to be constructed in its place.

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Why a Greek Default Could be Worse Than the Lehman Collapse - Money Morning

BY MARTIN HUTCHINSON, Contributing Editor, Money Morning
The 2008 collapse of Lehman Bros Holdings Inc. (PINK: LEHMQ) ignited a financial meltdown that resulted in widespread bank failures and caused the Dow Jones Industrial Average to lose 18% of its value in just one week.

Yet a Greek default - which (even with a bailout) becomes increasingly likely with each passing day - would actually be much, much worse in many respects.

Sure, it's possible that European Union (EU) taxpayers will soon be dragooned into yet another rescue plan. But that would only delay the inevitable - a catastrophic collapse that will drudge up feelings of panic we haven't witnessed since the global financial crisis hit its apex nearly three years ago."

.

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Why a Greek Default Could be Worse Than the Lehman Collapse - Money Morning

BY MARTIN HUTCHINSON, Contributing Editor, Money Morning
The 2008 collapse of Lehman Bros Holdings Inc. (PINK: LEHMQ) ignited a financial meltdown that resulted in widespread bank failures and caused the Dow Jones Industrial Average to lose 18% of its value in just one week.

Yet a Greek default - which (even with a bailout) becomes increasingly likely with each passing day - would actually be much, much worse in many respects.

Sure, it's possible that European Union (EU) taxpayers will soon be dragooned into yet another rescue plan. But that would only delay the inevitable - a catastrophic collapse that will drudge up feelings of panic we haven't witnessed since the global financial crisis hit its apex nearly three years ago."

.

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EXPERT PANEL: Cell Phones Might Cause Brain Cancer, Jun 02, 2011

May 31, 2011 -- The expert panel that evaluates cancer risks today said that cell phones might possibly cause brain cancer.
The announcement comes from the International Agency for Research on Cancer (IARC). Like the World Health Organization, the American Cancer Society relies on IARC for evaluation of cancer risks.
'After reviewing all the evidence available, the IARC working group classified radiofrequency electromagnetic fields as possibly carcinogenic to humans,' panel chairman Jonathan Samet, MD, chair of preventive medicine at the USC Keck School of Medicine, said at a news teleconference. 'We reached this conclusion based on a review of human evidence showing increased risk of glioma, a malignant type of brain cancer, in association with wireless phone use.'"

Related articles

• Cell Phones to Be "Possibly Carcinogenic," Experts Say (fitsugar.com)
• Cell phone use 'possibly carcinogenic to humans', say WHO (beinghealthyhomeandaway.blogspot.com)
• Are mobile phones safe for children? (news.bbc.co.uk)
• How normal cells turn into brain Cancers ? (biowaves.wordpress.com)
• How normal cells become brain cancers (eurekalert.org)
• More muddy water on cell phone use, kids' brain cancer risk (ac360.blogs.cnn.com)
• Top 6 Cell Phone Myths (mycricket.com)
• Study: Cell Phones Don't Raise Brain Cancer Risk in Kids (webmd.com)
• Treating Glioblastoma and Brain Cancer with Cancer Vaccines (dogfyi.com)
• Study: Cell phones don't increase brain tumor risk in kids (news.cnet.com)