Category: Credit Crisis 2011
The analysis published under this category are as follows.
Sunday, February 27, 2011
The Ten Reasons The Banksters Get Away With It / Politics / Credit Crisis 2011
By: Danny_Schechter
The Wall Street Crime Syndrome Goes Deeper Than We Think: Q. Why No Jailings? A: It’s The System, Not Just The Prosecutors
Hats off to writer Matt Taibbi for staying on the Wall Street crime beat, asking in his most recent report in Rolling Stone: “Why Isn't Wall Street in Jail?”
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Thursday, February 17, 2011
Wall Street and the Financial Crisis: Nobody Goes to Jail - And Therein Lies the Problem / Politics / Credit Crisis 2011
By: Jesse
It all comes back to the credibility trap, much more intractable than a liquidity trap. The US government cannot perform effective change without admitting the corruption and placing the powerful status quo at risk. So this malaise and period of selective recovery will continue until there is a another, more destructive crisis.
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Thursday, February 17, 2011
Restoring Economic Sovereignty: The Push for State-owned Banks / Politics / Credit Crisis 2011
By: Ellen_Brown
"It is time to declare economic sovereignty from the multinational banks that are responsible for much of our current economic crisis. Every year we ship over a billion dollars in Oregon taxpayer dollars to out-of-state and multinational banks in the form of deposits, only to see that money invested elsewhere. It's time to put our money to work for Oregonians."-- Bill Bradbury, former Oregon Senate President and Secretary of State, quoted in The Nation
Wednesday, February 09, 2011
Why Another Financial Crash is Certain / Stock-Markets / Credit Crisis 2011
By: Mike_Whitney
On August 9, 2007, an incident took place at a bank in France that touched-off a financial crisis that that would eventually wipe out more than $30 trillion in capital and thrust the world into the deepest slump since the Great Depression. The event was recounted in a speech by Pimco's managing director Paul McCulley, at the 19th Annual Hyman Minsky Conference on the State of the U.S. and World Economies. Here's an excerpt from McCulley's speech:
Tuesday, February 08, 2011
British Government Must Give Us Answers Before Banks Make More Pay-outs Warns Independent Commission / Politics / Credit Crisis 2011
By: Submissions
Zoe Gannon writes: The UK bank bonus season opens on 15th February when Barclays publishes its results which will show how much it has allocated to pay, this will set the bar for pay-outs at other banks, including nationally owned RBS and Lloyds which are due later this month.
With some pay-outs expected to reach seven figures, the independent High Pay Commission today argues that the reasons often cited for these awards don't add up when the economy is still reeling from the crisis the banks helped create.
Monday, February 07, 2011
Global Credit Crisis Contagion On the Verge Again / Interest-Rates / Credit Crisis 2011
By: Captain_Hook
Apparent disparities and idiosyncrasies between Western economies and China (at center of the emerging market model) continue to grow more profound, which will eventually end badly by popping the larger global credit bubble for good this time. This is of course not to say that our ambitious and greedy bankers and their crony politicians will disappear overnight, however if the serial bubbles in stocks, bonds, and anything that moves are popped, they will definitely have a great deal less currency to work with moving forward.
Thursday, February 03, 2011
Danger of E.U. and North Africa Bank Runs 2011 / Stock-Markets / Credit Crisis 2011
By: Gordon_T_Long
This is a warning to prepare for potential stealth bank runs cascading from North Africa and Ireland through to EU regional banking centers.
Stealth bank runs are the unrecognized and perilous serpent lurking presently below the European financial surface. They prey on slower moving archaic bond vigilantes and anyone else swimming in these dangerous uncharted waters.
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Thursday, February 03, 2011
The Federal Crisis Inquiry Commission Missed the Money / Politics / Credit Crisis 2011
By: Fred_Sheehan
The Federal Crisis Inquiry Commission (FCIC) had as much chance of satisfying the public as the Warren Commission did of closing the debate on the Kennedy assassination. The FCIC published its report on January 27, 2011. This was the "Final Report of the National Commission on the Causes of the Financial and Economic Crisis in the United States." The FCIC itself could not come to a conclusion. The Democrats wrote for the majority, the Republicans for the minority, and a think-tank fellow motored off on a tangent of his own.
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Tuesday, February 01, 2011
Financial Crisis Inquiry, Another "Whitewash" for Wall Street / Politics / Credit Crisis 2011
By: Mike_Whitney
Maybe "whitewash" is too harsh of a term to apply to the Financial Crisis Inquiry Commission's (FCIC) report, but it certainly doesn't break any new ground. Nor does it achieve its real purpose, which is to figure out what triggered the financial meltdown and (hopefully) restore confidence in the system. It fails on both counts, and it's not hard to see why. The investigative panel was clearly instructed to point out the dangers of insufficient regulation rather than focus on the massive incidents of fraud that were perpetrated by the bankers and other financial kingpins. It's a clever way of blaming the system instead of the people who were responsible.
Tuesday, February 01, 2011
Moodys Warns U.S. May Get Credit Rating Downgrade / Interest-Rates / Credit Crisis 2011
By: Money_Morning
Don Miller writes: The United States' AAA credit rating may be at risk sooner than previously thought as the nation fails to deal with its growing debt, Moody's Investors Service warned last week.
Moody's said December's extension of the Bush-era tax cuts, combined with results from the November elections, may lead to further gridlock in Congress, increasing its doubts about the federal government's determination to reduce its debt.
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Friday, January 28, 2011
Ireland’s Bailout Scandal, EFSF Funds to Cost Irish Taxpayer 9% Per Annum / Politics / Credit Crisis 2011
By: Christopher_Quigley
“Frankfurt – European Financial Stability Facility (EFSF) today placed its inaugural bond for an amount of €5 billion as part of the EU/IMF financial support package agreed for Ireland. The issuance spread was fixed at mid-swap plus 6 basis points. This implies borrowing costs for EFSF of 2.89%. Investor interest was exceptionally strong, a record breaking order book of €44.5 billion from more than 500 investors. Investor demand came from around the world and from all types of institutions. Very strong demand came from Asia. The Government of Japan purchased over 20% of the issue, reflecting its early commitment with the intention of contributing to European financial stability.
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Tuesday, January 25, 2011
Exponential Credit Growth Petri Dish; Steve Keen Responds to "World Economic Forum Endorses Fraud" / Economics / Credit Crisis 2011
By: Mike_Shedlock
In response to World Economic Forum Endorses Fraud; Steve Keen Mocks the WEF Report, So Do I; The Purported "Need to Double Credit in 10 Years" I received a nice email from Steve Keen.
Tuesday, January 25, 2011
Financial Crisis: Mistake or Crime? / Politics / Credit Crisis 2011
By: Danny_Schechter
QUESTION: WHEN IS A CRIME NOT CONSIDERED CRIMINAL? ANSWER: WHEN IT’S HATCHED ON WALL STREET.
As President Obama Delivers His State Of The Union Address, calls for tough financial rules and a crackdown on the Crimes Behind The Crisis Have Moved Off Of His Agenda.
Monday, January 24, 2011
World Economic Forum Endorses Fraud, "Need to Double Credit in 10 Years" / Economics / Credit Crisis 2011
By: Mike_Shedlock
A few days ago I received an email from the World Economic Forum regarding a need to double credit over the next 10 years. Here is that email.
Read full article... Read full article...New York, USA, 18 January 2011 – Credit levels will need to double over the next 10 years, growing by US$ 103 trillion, to support consensus-projected economic growth. This doubling of credit could be achieved without increasing the risk of major crisis, finds More Credit with Fewer Crises: Responsibly Meeting the World’s Growing Demand for Credit, a report released by the World Economic Forum in collaboration with McKinsey & Company. The study develops a detailed global credit model using historical credit volumes and forecasting potential credit demand to 2020 across 79 countries, representing 99% of world credit volume. The study applies a sustainability methodology to the projected credit demand, using newly developed metrics to answer the following two questions: Will credit growth be sufficient to meet demand? Is there a risk of future credit crises and, if so, where?
Wednesday, January 19, 2011
Ireland’s IMF/EU Bailout. The Financial Crisis Has Not Gone Away / Interest-Rates / Credit Crisis 2011
By: Christopher_Quigley
(Reuters: 18th. January 2011) -: “EU finance ministers agreed on Tuesday they wanted tougher stress tests for the region's banks to restore confidence in the bloc's financial system, but remained locked in dispute over how strict they should be."We discussed bank stress tests ... and we are really agreed that the new stress tests should include more banks," said German Finance Minister Wolfgang Schaeuble.
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Monday, January 17, 2011
What Secrets Does WikiLeaks Have on Bank of America? / Politics / Credit Crisis 2011
By: Global_Research
Mary Bottari writes: WikiLeaks founder Julian Assange is promising to unleash a cache of secret documents from the hard drive of a U.S. megabank executive. In 2009, he told Computer World that the bank was Bank of America (BofA). In 2010, he told Forbes that the information was significant enough to "take down a bank or two," but that he needed time to lay out the information in a more user-friendly format.
Friday, January 14, 2011
A Financial Road to Nowhere / Stock-Markets / Credit Crisis 2011
By: Barry_Elias
Last month, I discussed the huge risks undertaken by the financial community and the severe mistrust it has breed.
An unlimited ability to lend, even if you don’t have the money: sounds too good to be true.
Thursday, January 13, 2011
America's Economic and Social Crisis, No Fed Bailout for Main Street / Economics / Credit Crisis 2011
By: Ellen_Brown
The Federal Reserve was set up by bankers for bankers, and it has served them well. Out of the blue, it came up with $12.3 trillion in nearly interest-free credit to bail the banks out of a credit crunch they created. That same credit crisis has plunged state and local governments into insolvency, but the Fed has now delivered its ultimatum: there will be no “quantitative easing” for municipal governments.
Thursday, January 13, 2011
Full Spectrum Dominance, The Pathology of U.S. and Global Monetary Policy / Interest-Rates / Credit Crisis 2011
By: Rob_Kirby
The purpose of this paper is to demonstrate how the Federal Reserve – through its proxy money centre banks – has taken complete control of the interest rate complex enabling them to arbitrarily price capital at or near zero. This has only been possible with accommodation of the ruling elite who mutually benefit from these policies.
Wednesday, January 12, 2011
The Global Economic Crisis: Financial Fraud has Become Increasingly Pervasive / Stock-Markets / Credit Crisis 2011
By: Bob_Chapman
The U6 number fell to 16-7/8% from 17% last month, thus, the real unemployment number is 22-1/4%, off 3/8 of 1 percent in two months. The average duration of unemployment heads back up to a new record 34.2-weeks and when the share of the unemployed ranks looking for a job without success rises 2% to 44.3% you have a problem. It is hardly a winner. The workweek was unchanged at 34.3-hours. The employment rate was 58.3%, the same level it was at late in 1983. In order to re-ascend to peak employment levels 11 million jobs would have to be created. That cannot happen as the transnational conglomerates execute free trade, globalization, offshoring and outsourcing. That would be 2.75 million jobs annually over the next four years. Still millions of illegal aliens are streaming across our borders to find work and push American citizens out of their jobs.