Category: Credit Crisis 2011
The analysis published under this category are as follows.
Friday, November 18, 2011
The Greater Context of the Crisis in Europe / Politics / Credit Crisis 2011
By: Submissions
Michelle Shocked, ‘Over the Waterfall,’ Arkansas Traveler
‘Petitio principii,’ which is in part believing whatever makes you an easy buck, is, after male libidinal drive, the most powerful force in the human condition.’
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Saturday, November 12, 2011
The Financial Crisis Coup Continues / Politics / Credit Crisis 2011
By: Andy_Sutton
Early last December, I wrote a piece entitled ‘Crisis or Coup?’ in which the anatomy of the 2008 financial crisis was analyzed in further detail and some conclusions drawn. These conclusions were drawn based on facts and actions, not opinions. It was obvious at the time that the USFed and our own government were acting not in the best interests of the people, but rather in the best interests of banks and large corporations. Crony capitalism, as it has often been called - where profits are kept and losses are written off or passed on to the ‘Plebeians’ of a particular society - ramped into high gear in the US. Remember the fact that the absurd financial structure that is in place was the ‘solution’ to a crisis, which had the fingerprints of the solution providers all over it.
Friday, November 11, 2011
World has Major Funding Gap, IMF Begs Russia and China for Money / Interest-Rates / Credit Crisis 2011
By: Mike_Shedlock
Saxo bank chief economist Steen Jakobsen pinged me with an interesting set of comments regarding Italian interest rates....
World has Major Funding GapRead full article... Read full article...
Our estimation shows that on the 2012 interest payment alone Italy now needs to find additional 10 billion EUR to pay for the rise in interest rates.
Wednesday, November 09, 2011
Taxpayers in Revolt, State Bankster System in Europe is Collapsing, Next Stop USA / Interest-Rates / Credit Crisis 2011
By: Gary_North
Think of Europe's finances as a gigantic liquor supply system. There is a system of profit-seeking taverns (commercial banks). There is a clientele (sovereign states). Finally, there is a distiller (the European Central Bank).
The governments have been on a bender like none seen in modern times, especially those governments in sunny climates, plus Ireland, which has always known how to have a party. They all ran up their tab with their bartenders at pubs throughout the continent. It looked like the party would go on forever. It didn't.
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Tuesday, November 08, 2011
U.S. Bank Lending Remains Restrictive / Interest-Rates / Credit Crisis 2011
By: Asha_Bangalore
The Fed’s Senior Loan Officer Survey shows that fewer banks eased standards on lending to large and middle-market firms (Made up of firms reporting $50 million and over in annual sales) during the third quarter compared with prior surveys (see Chart 1).
Monday, November 07, 2011
Debt Credit Crisis, Something Is About To Break / Stock-Markets / Credit Crisis 2011
By: Tony_Pallotta
When Dexia was nationalized I said the clock was now ticking. Counterparty risk was the new threat to the global economy. When confidence is gone the system simply shuts down. What does that mean though? How do you measure confidence or lack thereof?
Simply look at where cash is going. Recently released data shows a record jump in the foreign reverse repurchase agreement balance held at the Federal Reserve (first reported by Zero Hedge on November 3).
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Sunday, November 06, 2011
MF Global: $658 Million in Missing Customer Funds Maybe Found in Account at JP Morgan / Companies / Credit Crisis 2011
By: Jesse
According to Bloomberg, $658.8 Million in what could be the 'missing customer funds' were 'found' today in an account at JP Morgan.
I know how it is. Sometimes you forget to check your coat pockets and miscellaneous bank statements too. Sloppy bookkeeping. Tsk tsk. Oh well, just an honest mistake, right?
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Sunday, November 06, 2011
G20 Cannes And The End Of Money / Politics / Credit Crisis 2011
By: Andrew_McKillop
On Friday 4 November French state television channels and state radio stations were instructed to give blanket coverage to the coming "fireside chat" between US president Obama and French president Sarkozy. This was screened on one private TV channel, TF1 owned by the billionaire friend of Sarkozy, Martin Bouygues, and on one state TV channel, FR2, Friday evening.
Sunday, November 06, 2011
REAL Capitalists Move Our Money from Big Banks to Credit Unions / Politics / Credit Crisis 2011
By: Washingtons_Blog
Believe in Free Market Capitalism? Then Move Your Money!
Conservative free market entrepreneurial capitalist Karl Denninger notes:
Read full article... Read full article...If you have an account at a BANK, go move it to a CREDIT UNION.
Friday, November 04, 2011
Credit Derivatives and Leverage Sank Jon Corzine’s MF Global / Companies / Credit Crisis 2011
By: Janet_Tavakoli
“Repo to Maturity” Transactions Are in Substance Total Return Swaps, a Type of Credit Derivative.
Fallout Is Worse Than Lehman For the Exchange-Traded Futures Markets.
Wednesday, November 02, 2011
MF Global Bankruptcy Exposes Vulnerability of U.S. Banks to Eurozone Debt Crisis / Companies / Credit Crisis 2011
By: Money_Morning
David Zeiler writes:
The bankruptcy of MF Global Holdings (NYSE: MF) was a distressing signal to investors that it is possible for U.S. financial institutions to fall victim to the Eurozone debt crisis.
MF Global filed for Chapter 11 bankruptcy Monday after credit downgrades led to margin calls on some of the $6.3 billion in Eurozone sovereign debt the bank held. The position was five-times MF Global's equity.
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Tuesday, October 25, 2011
The E.U. is Over Banked, Chaos in the Land of Oz (Part 2) / Stock-Markets / Credit Crisis 2011
By: PhilStockWorld
Elliott: In Part 1 of our interview, we agreed that by not allowing the too-big-to-fail (TBTF) banks to fail, the federal government is continuing its environment of corruption and moral hazard. Case in point - the scheme to force taxpayers to insure Bank of America’s worthless debt via the FDIC.
So, Russ, it will get worse, until TBTF banks get decapitalized?
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Monday, October 24, 2011
Assessing the Damage of the European Banking Crisis / Interest-Rates / Credit Crisis 2011
By: STRATFOR
Europe faces a banking crisis it has not wanted to admit even exists.
The formal authority on financial stability, International Monetary Fund (IMF) chief Christine Lagarde, made her institution’s opinion on European banking known back in August when she prompted the European Union to engage in an immediate 200 billion-euro bank recapitalization effort. The response was broad-based derision from Europeans at the local, national and EU bureaucratic levels. The vehemence directed at Lagarde was particularly notable as Lagarde is certainly in a position to know what she was talking about: Until July 5, her title was not IMF chief, but French finance minister. She has seen the books, and the books are bad. Due to European inaction, the IMF on Oct. 18 raised its estimate for recapitalization needs from 200 billion euros to 300 billion euros ($274 billion to $410 billion).
Sunday, October 23, 2011
Savers Protect Your Deposits From Bankrupting Banks and Quantitative Inflation / Stock-Markets / Credit Crisis 2011
By: Nadeem_Walayat
The Euro-zone continues to teeter over the edge of the financial abyss as bankrupting countries that cannot print Euro's threaten the collapse of its banking system that would would soon collapse the whole global banking system in a matter of hours as electronic bank runs sweep across the worlds financial system resulting in trillions of dollars worth of deposits being withdrawn in a matter of hours and thereby collapsing first the Euro-zone and then within 24 hours the UK, USA and Asia along with it. My recent article (Euro-Zone Prepares to Print Trillions in Advance of Greece Debt Default) covered the potential consequences for the world in the event of financial armageddon, this article continues on from the last article that covered the inflationary depression consequences of money printing that the likes of Britain and the United States are engaged in and that the Euro-zone WILL eventually replicate (Bank of England's Quantitative Inflation Bankster's Paradise Inflationary Depression Economy ).
Sunday, October 23, 2011
Is Bank of America Headed for the Glue Factory? / Companies / Credit Crisis 2011
By: Mike_Whitney
Why is Bank of America moving derivatives from Merrill Lynch to an insured subsidiary? Is it because the derivatives could blow up at any time leaving Merrill with gigantic, unsustainable losses? If that’s the case, then it would make perfect sense to shift them into a depository institution that’s covered by the FDIC. That way, the taxpayers would wind up paying for the damage and no one would be the wiser. It’s like a stealth bailout, right? The only problem is that Bloomberg let the cat out of the bag, so now everyone knows what’s going on. And that’s going to be a very big problem for B Of A. Here’s a clip from the Bloomberg article:
Monday, October 17, 2011
Europe's Banks Are Still About to Go Bust / Companies / Credit Crisis 2011
By: Money_Morning
Keith Fitz-Gerald writes:
The latest plan to preserve the European Union (EU) and save the global banking sector is to force European banks to increase their equity capital.
The goal, of course, is to restore confidence and stability. But if that's the case, then why are so many analysts and savvy investors still nervous?
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Friday, October 14, 2011
These Three Men Represent Everything That's Wrong with Wall Street / Politics / Credit Crisis 2011
By: Money_Morning
Shah Gilani writes:
I've already expressed my desire to embrace the Occupy Wall Street movement. I said last week that I would join in whole-heartedly if I knew exactly what the protesters were trying to achieve.
But I don't know - and I'm not convinced they do, either.
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Friday, October 14, 2011
Italian Bond Yield Surges to 5.82%, Government Loses Routine Budget Vote / Interest-Rates / Credit Crisis 2011
By: Mike_Shedlock
After losing a routine parliamentary vote on the budget, Silvio Berlusconi, the very annoyed prime minister of Italy called for a vote of confidence. The vote is expected on Friday.
I believe Berlusconi may lose a close vote. If not, he will be discarded by March.
Tuesday, October 04, 2011
Occupy Wall Street Has Been Battling The Cops, the Counterrevolution Builds / Politics / Credit Crisis 2011
By: Danny_Schechter
By it actions, Occupy Wall Street is puncturing myths like these:
l. The Myth that direct action against the center of financial power can’t be sustained’
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Monday, October 03, 2011
If They Have a Gun To Their Heads, Do the Banks Lend? / Interest-Rates / Credit Crisis 2011
By: Submissions
Sam Houston writes: Here we are three years after the financial crisis of 2008. The banks got bailed out. Their junk mortgages now sit on the balance sheet of the Federal Reserve. In exchange the Fed gave them face value in cash for their junk. Where did they get the cash? They created it out of thin air of course.
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