Category: Credit Crisis 2011
The analysis published under this category are as follows.
Tuesday, December 27, 2011
Responsible New York Banking / Politics / Credit Crisis 2011
By: Stephen_Lendman
Founded in 1882, the Bank of Cattaraugus (B of C) exception proves the rule. Located in Western New York, it's miles from Wall Street's cesspool of fraud, market manipulation, grand theft, bailouts, and influence peddling in league with corrupt politicians getting generous campaign contribution bribes in return.
B of C calls itself "one of the oldest and strongest banks in New York state. (It's) a full-service, independent bank that provides financial services with a hometown touch. Personal, friendly service is our signature trademark, and we're dedicated to give back to the communities we service."
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Tuesday, December 20, 2011
After Superscience We Get Superfinance / Politics / Credit Crisis 2011
By: Andrew_McKillop
Superfinance is already with us, since at latest 2008, but we can expect that so-called « Superscience » will be edging back to join it after its most recent place in the media limelight during the 1995-2000 period: Superscience was turfed out by climate change, peak oil, green energy and sustainability all of which are now themselves struggling to stay on the radar screen. Unlike Superfinance and the Big New Things of the past 5 years however, Superscience goes back a long way, in fact to the Great Exhibitions around Europe in the 19th century. At the time the populace was told to think railways, iron ships, electric lamps and machine guns would give them total power and make all the world their own. Like they say: Guns, germs and steel. Coming next, we have a big new slot for Superfinance operated just like the Superscience theme.
Monday, December 19, 2011
Bankrupt MF Global's Fractional Reserves / Politics / Credit Crisis 2011
By: Douglas_French
Jon Corzine told the House Agriculture Committee, "I simply do not know where the money is, or why the accounts have not been reconciled to date." The public is outraged that the former CEO of bankrupt global financial-derivatives broker and prime dealer in US Treasury securities MF Global doesn't know where the missing $1.2 billion in client funds went.
Saturday, December 17, 2011
Bankers Rule the World, The Network of Global Corporate Control / Politics / Credit Crisis 2011
By: Stephen_Lendman
Bankers rule the world. A new Swiss Federal Institute of Technology study says so. Written by Stefania Vitali, James Glattfelder and Stefano Battiston, it's titled "The network of global corporate control," saying:
"We find that transnational corporations from a giant bow-tie structure and that a large portion of control flows to a small tightly-knit core of financial institutions. This core can be seen as an economic 'super-entity' that raises new important issues both for researches and policy makers."
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Friday, December 16, 2011
Rehypothecation Is An Old Story: MF Global's Is a Different Story of Filched Funds / Stock-Markets / Credit Crisis 2011
By: Janet_Tavakoli
Yesterday Congress held another hearing on MF Global. One representative seemed to suggest that MF Global's movement of money to the UK may have somehow been allowable under Rule 1.25. It was as if a Member of Congress had become Corzine's PR flack, an apologist for Corzine, and was trying to create a false excuse for Corzine. Jon Corzine has been a big Congressional fundraiser and bundler, and it is interesting to see how cheaply some Members of Congress can be bought.
Friday, December 16, 2011
Europe Bank Run Underway, Why You Should be Worried / Stock-Markets / Credit Crisis 2011
By: Money_Morning
Keith Fitz-Gerald writes: On Wednesday, Fitch Ratings Inc. downgraded its credit ratings on five of Europe's biggest banks, and while that decision made headlines, it's not the most important story to come out of Europe this week.
The real story, which the mainstream media is neglecting, is that there are signs of an underground run on Europe's banks.
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Thursday, December 15, 2011
Subject Banks to the Free Market or Turn Them into Utilities / Politics / Credit Crisis 2011
By: Money_Morning
Shah Gilani writes:
Let's face it. Banking is a protected industry. It's a government-coddled industry.
The problem with that is, banks really aren't subject to free market forces that would naturally eliminate insolvent and inefficient institutions. The result is more bad banking.
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Thursday, December 15, 2011
Re-Hypothecation ABC in Gold and Securities Markets: What You Need to Know / Stock-Markets / Credit Crisis 2011
By: Casey_Research
Kevin Brekke, Casey Research writes: A new polysyllabic term has entered the Wall Street lexicon and is sweeping through the investing world like a brush fire through a dry canyon: "hypothecation." With its connection to the MF Global bankruptcy and aftermath, it engenders the kind of fear a homeowner might feel while monitoring the approaching flames.
The rise of hypothecation as the lead suspect in the MF Global tragedy has caused a fair bit of confusion about what, exactly, it is – and is not. Proving the idiom that nature abhors a vacuum, the blogosphere has weighed in with all manner of explanations, many of which have been less than accurate.
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Thursday, December 15, 2011
Credit Crisis part 2 or another reprieve? / Stock-Markets / Credit Crisis 2011
By: Clif_Droke
Recent investor disappointment is being blamed on the Federal Reserve and the fact that it didn’t announce another round of stimulus at its latest meeting. Recent market action can also be chalked up to a continuation of the lingering disappointment from last week’s EU summit meeting. Participants are upset that the European Central Bank (ECB) refuses to engage in a major bond buying program to provide liquidity and bolster investor confidence. Read full article... Read full article...
Thursday, December 15, 2011
Gerald Celente on his Missing MF Global Money, Where Is My Money? / Stock-Markets / Credit Crisis 2011
By: Videos
Today MF Global's former executives, the CFO and the COO, along with Jon Corzine, the former CEO, testified before the senate agriculture committee. They told the committee that they don't know how an estimated 1.2 billion dollars in customer funds went missing.
Wednesday, December 14, 2011
Markets of Shame Before The Collapse: Crisis, Crisis, Everywhere / Politics / Credit Crisis 2011
By: Danny_Schechter
Earlier this week, Stephen Colbert announced dramatically that there were important developments underway in Europe that we should know about.
True to form, Colbert’s Repor didn’t talk about the big problem. His story, ha ha ha, was about a butter shortage in Norway. Talk about going from the obscure to the ridiculous.
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Tuesday, December 13, 2011
How MF Global Collapsed by over Hypothecating and Who is Next? / Stock-Markets / Credit Crisis 2011
By: Sam_Chee_Kong
Another month another new implosion. Europe really seems to be stuck in a financial black hole, unable to free itself out of it. Before we even have time to digest all those exotic treasury products like CDO,CDS,MBS, ALT-A, Sub-Prime, Swaps and , now there is this new toy called ‘Hypothecation’.
Sunday, December 11, 2011
Are Funds At US Financial Firms Safe? / Stock-Markets / Credit Crisis 2011
By: Jesse
The short answer is 'maybe.' It is more of a buyer beware situation than most had thought, and still think.
It is nice to see someone in the mainstream media addressing this situation intelligently and without making an apology for what is apparently a criminal act and surely an egregious abuse of the public trust.
Sunday, December 11, 2011
Two Roads Out of the Global Financial Crisis / Stock-Markets / Credit Crisis 2011
By: David_Knox_Barker
The international political economy and global financial markets are deep in the woods. A long wave winter season is blowing cold, and getting colder. Decades of excess leverage in the banking system and sovereign states is coming to an end. Government and consumer spending are hitting a wall. A critical fork on this wintry road is coming up fast.
Sunday, December 11, 2011
What's Backing Your Bank Deposits? / Personal_Finance / Credit Crisis 2011
By: EWI
Is the bank really the safest place to keep your money? Robert Prechter joins the Mind of Money host Douglass Lodmell to discuss what backs bank deposits and how you can keep your hard-earned money safe.
Friday, December 09, 2011
Pulling Back the Curtain on the Wall Street Money Machine / Politics / Credit Crisis 2011
By: Ellen_Brown
On November 27, Bloomberg News reported the results of its successful case to force the Federal Reserve to reveal the lending details of its 2008-09 bank bailout. Bloomberg reported that by March 2009, the Fed had committed $7.77 trillion in below-market loans and guarantees to rescuing the financial system; and that these nearly interest-free loans came without strings attached.
Friday, December 09, 2011
The European Central Bank Provides Temporary Support to Banks / Interest-Rates / Credit Crisis 2011
By: Asha_Bangalore
The European Central Bank (ECB) provides temporary support to the economic bloc with its actions today. The ECB lowered the policy rate 25bps to 1.00%, expanded the range of eligible collateral for loans extended to banks, increased the maturity of loans to 3 years from the current maturity of 13 months to alleviate funding problems, and lowered reserve requirements to 1.0% from 2.0%. These steps are necessary measures to ease pressures in the banking sector and prevent a severe credit crunch.
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Tuesday, December 06, 2011
How Safe Are America's Biggest Banks? / Companies / Credit Crisis 2011
By: EWI
Lost in the clamor over the central banks' "let there be liquidity" pronouncement, Standard & Poor's just downgraded fifteen major U.S. and European banks.
The downgrade doesn't mean Bank of America, Goldman Sachs, Citigroup, Barclays, UBS, Wells Fargo and others will close shop tomorrow. But the long-term credit downgrade does raise questions about their stability.
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Tuesday, December 06, 2011
A Simple Solution to Fixing the World's Capital Markets / Stock-Markets / Credit Crisis 2011
By: Money_Morning
Shah Gilani writes:
Banks need fixing and capital markets need fixing. There's no debate about that.
Still, there's plenty of debate about what to do about it and too little agreement on exactly what to do about systemic issues, both in domestic and global markets.
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Saturday, December 03, 2011
European Central Bank Loans Are Just 'Chump Change' / Interest-Rates / Credit Crisis 2011
By: Bloomberg
Stephen Roach, non-executive Chairman of Morgan Stanley Asia, spoke with Bloomberg Television's Betty Liu about Europe's crisis, the banking system in China and the U.S. economy.
On the European proposal to channel central bank loans through the IMF, Roach said that "this is not a bazooka" and "200 billion is chump change."
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