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China Afraid Of Bank Failures In Europe?

 

Oh boy....

The European banks include French lenders Societe Generale , Credit Agricole and BNP Paribas .

"Apart from spot trading, all swaps and forwards trading (with the European banks) have been stopped," one source who is familiar with the matter told Reuters.

The question is this: How much flow are we talking about here?

 

The start of a system wide bank run???

If DEBT is the problem REPAYMENT is the solution

 

Debt revenue doesn't equal tax revenue

 

I will pay for my own stupidity but not for the stupidity of others.

 

Remember, profits are privatised, losses are socialised.

That's the 21-century Free Market.

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Chris Whalen Throws It In Their Faces

 

Well well look what the cat dragged in...

Government intervention is the root cause of the financial crisis and the maladies identified by Roubini. Many of his proposals, such as debt restructuring and maintaining liquidity to solvent borrowers, are common sense initiatives that ought to be followed immediately. But the proposals by Roubini and others that governments should borrow and print even more fiat currency to fuel further fiscal stimulus are badly considered. Economists from Paul Krugman in the US to Adam Posen in the UK all call for more stimuli. They are all wrong.

Yep. As I've repeatedly noted the premise of Keynesian Stimulus is mathematically bankrupt. We've run this for the last 30 years and yet have not produced prosperity - we instead produced serial bubbles.

 

Keynes never advocated perpetual stimulus, this isn't Keynesian.

If DEBT is the problem REPAYMENT is the solution

 

Debt revenue doesn't equal tax revenue

 

I will pay for my own stupidity but not for the stupidity of others.

 

Remember, profits are privatised, losses are socialised.

That's the 21-century Free Market.

Link to post
Share on other sites

As The Shadow Banking System Imploded In Q2, Bernanke's Choice Has Been Made For Him

 

 

S&P Options Making Room For Possible Downside

 

 

Depression By The Numbers - A Poverty Bulletin

 

 

Guest Post: Is This A “Jobs” Super Committee?

 

 

Slovenian Government Collapses After Confidence Vote Loss; EFSF Ratification To Be Delayed Until 2012

 

 

It's Official: HFT Breaks Speed-of-Light Barrier, Sets Trading Speed World Record

 

 

Global Systemic Risk Near Record Highs Prompts ESRB Warning

 

 

On The Imminent Slovenian Government Collapse And Greek T-Bills

 

 

BNP Freefalling

 

 

Art Cashin's "Friends Of The Fermentation" Subcommittee Meets, Decides "To Hell With The Kids"

 

 

Goldman On What To Expect From Tomorrow's Fed Announcement

 

 

IMF Cuts Global Growth Outlook, Says Europe May Worsen Outlook

 

 

Swiss Franc Plunges On Rumor EURCHF Peg To Be Widened To 1.25

 

 

Fitch: Greece Will Default But Won't Leave The Eurozone

 

 

German Government Advisor Lars Feld Tells Rundschau Greek Default Would Have "Limited" Impact

 

 

Switzerland Launches Referendum To Stop SNB Lunacy, Save Swiss Gold

 

 

Markets In Risk On Mode Following Greek Non-Default And Denials Of Greek Referendum And Siemens SocGen Bank Run

 

 

Guest Post: Brilliant Discovery In Economics, US Economy Works On Keynesian Policies

 

 

China Pulls The Rug From Under Europe, Halts French Bank Transactions, Makes Good On Trade War Ultimatum

 

 

Social Ponzi Insecurity In One Easy Chart

 

 

Why Was Congress Forced To Subpoena Head Of Obama's Budget Office To Get Info On Solyndra?

 

 

Peter Schiff On Obamanomics: "There Are Not Enough Open Minds In The Capitol To Keep This Ship From Sinking"

 

 

The Corporate Bank Run Has Started: Siemens Pulls €500 Million From A French Bank, Redeposits Direct With ECB

 

 

I shall refrain from any jokes about siemans and deposits....

If DEBT is the problem REPAYMENT is the solution

 

Debt revenue doesn't equal tax revenue

 

I will pay for my own stupidity but not for the stupidity of others.

 

Remember, profits are privatised, losses are socialised.

That's the 21-century Free Market.

Link to post
Share on other sites

Breaking news

 

 

 

 

 

 

If DEBT is the problem REPAYMENT is the solution

 

Debt revenue doesn't equal tax revenue

 

I will pay for my own stupidity but not for the stupidity of others.

 

Remember, profits are privatised, losses are socialised.

That's the 21-century Free Market.

Link to post
Share on other sites

Old, saggy cloth cat for sale at £4.2m

 

 

Bagpuss is heading for a new basket after a group of music industry moguls including Live Aid producer Harvey Goldsmith and DJ Pete Tong agreed in principle to buy the owner of his TV rights for £4.2m.

 

 

David Prosser: Huhne's attack on the big six is heart-warming, but you'll still pay for real heat

 

 

Outlook The word is that senior Liberal Democrats are jockeying for position in expectation of a leadership battle before the next election. In which case, one can hardly blame Chris Huhne for playing the populist card yesterday, having seen potential rival Vince Cable do so 24 hours previously. For Mr Huhne, the bad old energy companies represented the fish in the barrel to replace the overpaid company directors shot by Mr Cable on Monday.

 

 

If DEBT is the problem REPAYMENT is the solution

 

Debt revenue doesn't equal tax revenue

 

I will pay for my own stupidity but not for the stupidity of others.

 

Remember, profits are privatised, losses are socialised.

That's the 21-century Free Market.

Link to post
Share on other sites

Fed ramps up aid to economy with $400 billion "twist"

 

8:15pm BST

WASHINGTON (Reuters) - The Federal Reserve on Wednesday ramped up its aid to the beleaguered U.S. economy, launching an effort to put more downward pressure on long-term interest rates and increase its support for housing.

 

Greece sharpens austerity, IMF warns on banks

 

7:08pm BST

ATHENS/WASHINGTON (Reuters) - Greece adopted yet more austerity measures on Wednesday to secure a bailout instalment crucial to avoid running out of money next month, as the IMF warned that Europe's sovereign debt crisis risks tearing a giant hole in banks' capital

 

FTSE knocked by weak commods ahead of Fed decision

 

LONDON (Reuters) - The FTSE dropped back on Wednesday, led by weakness in commodity issues as investors nervously awaited the outcome of a U.S. Federal Reserve meeting with expectations for further economic stimulus seen as already discounted.

 

 

 

Bank of America mortgage pact no "sweetheart" deal - lawyer

 

NEW YORK (Reuters) - A proposed $8.5 billion (5.4 billion pounds) settlement of Bank of America Corp's mortgage-backed securities liability is not a "sweetheart deal" to help the bank, a lawyer for institutional investors argued in court on Wednesday in a legal tussle over the agreement.

7:21pm BST

 

Europe crisis ups banks' risk by £264 billion - IMF

 

WASHINGTON (Reuters) - Europe's debt crisis has increased the risk exposure of banks in the region by 300 billion euros (264 billion pounds), and they need to recapitalize to ensure they can weather potential losses, the International Monetary Fund said on Wednesday.

IMF 5:39pm BST

 

Lehman to drop appeals over Barclays sale

 

NEW YORK (Reuters) - Lehman Brothers Holdings Inc said it will drop its appeal of a bankruptcy court's ruling upholding Barclays Plc's purchase of Lehman's North American business in 2008 to avoid an unnecessary strain on its remaining assets.

7:50pm BST

 

Bank prop trading is dead, long live Delta One

 

LONDON (Reuters) - Investment banks continue to gamble their own money on financial markets, hiding behind clients, in a widespread practice that risks the wrath of regulators, particularly after Swiss bank UBS lost $2.3 billion (1.4 billion pounds) in rogue-trading.

6:11pm BST

 

Bank to relaunch bond buys within two months - Reuters poll

 

LONDON (Reuters) - Britain's deteriorating economic prospects will force the Bank of England to start pumping more money into the banking system, possibly as soon as next month, a Reuters poll of economists suggested on Wednesday.

If DEBT is the problem REPAYMENT is the solution

 

Debt revenue doesn't equal tax revenue

 

I will pay for my own stupidity but not for the stupidity of others.

 

Remember, profits are privatised, losses are socialised.

That's the 21-century Free Market.

Link to post
Share on other sites

21 September 2011 Last updated at 18:51

 

Greece accelerates austerity cuts_55494322_012964155-1.jpg

 

The Greek government announces tougher austerity measures in a move to persuade international lenders to give it more bailout money.

 

 

_55485561_012937006-1.jpgIMF warns of new threat to banks

 

The International Monetary Fund warns that the global financial system is more vulnerable now than at any time since the 2008 financial crisis.

 

 

 

Bank hints at economic stimulus

 

The Bank of England moves closer to re-starting quantitative easing because the UK economy is deteriorating, minutes show.

 

 

 

 

If DEBT is the problem REPAYMENT is the solution

 

Debt revenue doesn't equal tax revenue

 

I will pay for my own stupidity but not for the stupidity of others.

 

Remember, profits are privatised, losses are socialised.

That's the 21-century Free Market.

Link to post
Share on other sites

[/url]

 

US Federal Reserve launches a $400 billion Operation Twist

 

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The Federal Reserve will sell $400 billion in short-term securities to buy longer-term holdings, in an attempt to boost its weak economy by driving down interest rates on mortgages and other loans.

US Federal Reserve agrees new stimulus for economy

 

 

US Federal Reserve statement in full

 

 

Moody's downgrades Bank of America

 

 

Greek government announces new austerity measures

 

 

IMF: Banks need more cash to hedge against euro crisis

 

 

 

 

UK 'lost' £35bn in uncollected taxes last year

 

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Britain lost £35bn in uncollected taxes last year - the equivalent of 7.9pc of the annual revenue, the Treasury has admitted.

 

SABMiller lands Foster's for A$9.9bn

 

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SABMiller raised a glass to success after agreeing the A$9.9bn (£6.5bn) takeover of Foster's Group in a deal that secures the UK company's position as the world's second largest brewer.

 

Tar balls on US beaches 'come from BP oil spill'

 

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Tar balls that turned up on the US Gulf coast this month are linked to BP's oil spill last year, signalling that the area is still not fully cleaned up, a study has found.

Shell to invest $1.6bn in Brazilian oil block

 

 

 

HP mulls ousting chief after just 10 months

 

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Hewlett-Packard's $10.3bn acquisition of UK software maker Autonomy looks under threat amid speculation that the architect of the deal, Leo Apotheker, may be ousted.

 

Former Goldman trader charged with insider trading

 

 

 

 

Disasters push Lloyd's £697m into red

 

 

 

 

UBS chief: 'I have backing of the board'

 

 

 

 

JD Sports says £700,000 looted in riots

 

 

 

 

Youngsters put off work by 'crap' jobs

 

 

Debt crisis: live

 

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Global central banks in coordinated move to prop up eurozone banks with dollar funding, sending shares and euro surging, following arrest in London of UBS banker in connection with bank's $2bn rogue trading loss.

US Federal Reserve agrees new stimulus for economy

 

 

 

 

US Federal Reserve statement in full

 

 

 

 

Osborne's deficit target in doubt as borrowing hits high

 

 

More public money needed for bankers as IMF warns of €200bn black hole

 

 

The market is betting on another round of quantitative easing

 

 

Chris Huhne's energy pricing clampdown won't make bills any cheaper

If DEBT is the problem REPAYMENT is the solution

 

Debt revenue doesn't equal tax revenue

 

I will pay for my own stupidity but not for the stupidity of others.

 

Remember, profits are privatised, losses are socialised.

That's the 21-century Free Market.

Link to post
Share on other sites

Fed Moves on Long-Term Interest Rates to Spur Growth

 

By BINYAMIN APPELBAUM 8 minutes ago

 

 

The Federal Reserve is shifting $400 billion from short- to long-term Treasury securities to push interest rates down and encourage companies to borrow and spend.

 

 

 

 

22fed-web-sfSpan.jpg

Shawn Thew/European Pressphoto Agency

 

Investors expected the Fed’s move, modeled on a 1960s program called Operation Twist.

 

 

 

 

 

 

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Constraints on Central Banks Leave Markets Adrift

 

By FLOYD NORRIS 11:27 AM ET

 

The I.M.F. and World Bank meet this week in Washington amid political sniping in Europe and America that has reduced the ability of central bankers to act, removing an anchor of confidence in the financial world.

 

 

Wall Street Edges Lower After Fed Meeting

 

By CHRISTINE HAUSER 34 minutes ago

 

Stocks declined Wednesday after the Federal Reserve said it would pressure down long-term interest rates to help bolster the economy.

 

 

DealBook

 

Moody's Cuts Ratings on Three Big Banks

 

By DEALBOOK 8 minutes ago

 

The ratings agency said Washington was more likely "to allow a large bank to fail should it become financially troubled."

 

Google Takes the Hot Seat in Washington

 

By STEVE LOHR and CLAIRE CAIN MILLER 7 minutes ago

 

The company’s chairman, Eric E. Schmidt, testified on Wednesday before a Senate committee on whether Google competes fairly in its various businesses.

 

 

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Hewlett-Packard Board Meets on Replacing C.E.O.

 

By QUENTIN HARDY 1:15 PM ET

 

Directors of the company were considering Meg Whitman, the former chief of eBay, to replace Léo Apotheker, sources said.

 

 

DealBook

 

dbpix-sabmiller-fosters-thumbStandard.jpg

SABMiller to Buy Foster's for $10.15 Billion

 

By JULIA WERDIGIER 8:25 AM ET

 

SABMiller reached an agreement to buy Foster's for $10.15 billion, ending a hostile takeover battle that had lasted months.

 

E.C.B. Takes Steps to Ease Cash Crunch at Continent's Banks

 

By MATTHEW SALTMARSH AND JACK EWING 2:08 PM ET

 

As Greece and Germany debated rescue options, the International Monetary Fund warned that Europe's sovereign debt crisis will require a huge increase in bank reserves.

 

 

jump-botin-thumbStandard.jpg

A Banker’s Secret Wealth

 

By LANDON THOMAS Jr. and RAPHAEL MINDER

 

As a global debate intensifies over heavier taxes on the rich, the family of Emilio Botín, a powerful Spanish banker, is trying to explain a Swiss bank account that went undeclared for decades.

If DEBT is the problem REPAYMENT is the solution

 

Debt revenue doesn't equal tax revenue

 

I will pay for my own stupidity but not for the stupidity of others.

 

Remember, profits are privatised, losses are socialised.

That's the 21-century Free Market.

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Share on other sites

So Online Poker Was a Ponzi?

 

As they say, "oops"

NEW YORK – An Internet poker company that was blocked from operating in the U.S. in the spring as part of an online gambling crackdown was "not a legitimate poker company, but a global Ponzi scheme," federal prosecutors said Tuesday.

The popular Full Tilt Poker website illegally raided player accounts to fund operations and make lavish payments to its owners, Justice Department lawyers said in a revised civil lawsuit filed in New York.

Oh now that's bad. If you remember when this story broke I wrote a couple of articles on it; the latter one is here. I expected the Feds might come after the "winners" (at least for tax exposure) but this is a new twist - apparently when the Feds came in and looked over the books they found $390 million in alleged "deposits" held by players but only $60 million in actual money.

 

In a recession frauds of this type are always exposed. Whether this is a fraud we'll have to wait and see.

If DEBT is the problem REPAYMENT is the solution

 

Debt revenue doesn't equal tax revenue

 

I will pay for my own stupidity but not for the stupidity of others.

 

Remember, profits are privatised, losses are socialised.

That's the 21-century Free Market.

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Share on other sites

http://www.thelocal.de/society/20101007-30325.html

 

It was a state secret throughout the Cold War, a Mosel-region bunker full of a substitute currency in case of an emergency. But this month the vault door will open, giving visitors a taste just how much fear infused that era.

 

In the panic following East Germany’s construction of the Berlin Wall and the Cuban Missile Crisis in the 1960s, West Germany began “very intensive and very structured” preparations for a third World War, according to Jörg Diester, who has researched government bunkers for years.

 

“There was a real fear it would all start again,” he said.

 

Part of these preparations included the Bundesbank’s creation of an emergency currency, called BBk-Serie II, which would theoretically restore stability if hyperinflation occurred in the event of a crisis.

 

The bank then took it to the Rhineland-Palatinate community of Cochem, perched on a large hill along the left bank of the Mosel River. There, beneath a Bundesbank training and recreation centre, they built a 9,000-square-metre bunker and stored 15 billion replacement Deutsche Marks, the bank confirmed this week.

 

.....

 

But even police who guarded the bunker never knew what it contained, only three internal personnel - a supervisor, cleaning woman and technician - knew the top secret information.

 

The key to the eight-tonne safe door deep inside the bunker was located at the Bundesbank in Frankfurt.

 

In 1988, still before the fall of the Berlin Wall, the money was removed and destroyed for reasons that remain unclear.

 

Why the hell would the cleaning lady need to know??? :lol: :lol:

 

Still if the Germans did it once is it likely they've prepared for this event again.

If DEBT is the problem REPAYMENT is the solution

 

Debt revenue doesn't equal tax revenue

 

I will pay for my own stupidity but not for the stupidity of others.

 

Remember, profits are privatised, losses are socialised.

That's the 21-century Free Market.

Link to post
Share on other sites

Breaking news

 

 

 

 

 

 

If DEBT is the problem REPAYMENT is the solution

 

Debt revenue doesn't equal tax revenue

 

I will pay for my own stupidity but not for the stupidity of others.

 

Remember, profits are privatised, losses are socialised.

That's the 21-century Free Market.

Link to post
Share on other sites

ftse_632322c.jpg

 

World markets slump after Federal Reserve warning new

 

Mounting evidence that the world economy is slowing sharply sent global stock markets spiralling down.

 

 

World markets slump after Federal Reserve warning new

 

 

Mounting evidence that the world economy is slowing sharply sent global stock markets spiralling down.

 

 

David Prosser: Lord Davies's generosity on women on the board is about to be abused

 

 

Outlook Let us be charitable and say they are leaving it late. UKSIF, the sustainable investment group, revealed yesterday that it has written to all of the FTSE 350 companies which have yet to explain how they will respond to Lord Davies's report in February on increasing the number of women on the board, the deadline for which is fast approaching. So how many stamps did UKSIF have to buy? More than 250 – and 60-odd of the letters went to blue-chip FTSE 100 companies.

 

 

If DEBT is the problem REPAYMENT is the solution

 

Debt revenue doesn't equal tax revenue

 

I will pay for my own stupidity but not for the stupidity of others.

 

Remember, profits are privatised, losses are socialised.

That's the 21-century Free Market.

Link to post
Share on other sites

Shares dive as Fed rattles investors

 

20110922_58362625.jpg

A grim outlook for the U.S. economy from the Federal Reserve and signs of a slowing in China and Germany send world stocks tumbling and drive investors into safer currencies and government bonds. Full Article | Video

 

 

 

Global economy worries drive FTSE down 4.7 percent

 

LONDON (Reuters) - The FTSE was left nursing a 4.7 percent drop on Thursday with commodity stocks bearing the brunt of a broad-based sell-off after the U.S. Federal Reserve's grim assessment of the economy

 

 

 

Tesco invests £500 million in cutting prices

 

LONDON (Reuters) - Tesco , the world's No.3 retailer, is investing more than 500 million pounds in cutting prices in its main British market as it tries to lure cash-strapped shoppers and stem market share losses.

3:20pm BST

 

United Tech makes biggest bet ever on Goodrich

 

(Reuters) - United Technologies Corp's Louis Chenevert placed the biggest bet of his tenure as chief executive with a $16.5 billion (10.7 billion pounds) cash deal for aircraft components maker Goodrich Corp .

Aerospace & Defence 3:37pm BST

 

Banks, brokers plunge as Twist reality sinks in

 

NEW YORK (Reuters) - The new Federal Reserve program to lower long-term interest rates means banks and brokerages are at risk for depressed earnings, with no real solution, and their shares reacted accordingly on Thursday.

3:45pm BST

 

Irish GDP jump a temporary bright spot

 

DUBLIN (Reuters) - Ireland's economic rebound continued in the second quarter with some of the strongest growth in the euro zone but is likely to moderate as a gloomy outlook for the global economy pressures Dublin to ramp up austerity measures to tackle its huge debts.

3:16pm BST

 

AT&T sees 2012 looking similar to 2011

 

NEW YORK (Reuters) - AT&T Inc Chief Executive Officer Randall Stephenson said that his 2012 outlook for the U.S. economy looks similar to 2011 as he does not see a big recovery any time soon.

If DEBT is the problem REPAYMENT is the solution

 

Debt revenue doesn't equal tax revenue

 

I will pay for my own stupidity but not for the stupidity of others.

 

Remember, profits are privatised, losses are socialised.

That's the 21-century Free Market.

Link to post
Share on other sites

22 September 2011 Last updated at 15:50

 

Shares sink over growth worries_55516064_012819393-1.jpg

 

Global share prices plunge as IMF head Christine Lagarde adds to a chorus of warnings about the state of the world economy.

 

 

Eurozone private sector shrinks

 

The eurozone's private sector contracted in September for the first time in two years as the debt crisis continued, a survey indicates.

 

 

 

_55522280_012980817-1.jpgGreeks strike over new austerity

 

A 24-hour public transport strike hits Greece and a mass protest looms in Athens as anger mounts over a new raft of tough austerity measures.

 

 

 

 

If DEBT is the problem REPAYMENT is the solution

 

Debt revenue doesn't equal tax revenue

 

I will pay for my own stupidity but not for the stupidity of others.

 

Remember, profits are privatised, losses are socialised.

That's the 21-century Free Market.

Link to post
Share on other sites

[/url]

 

Markets plunge as World Bank chief warns recession more likely

 

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London and Wall Street dive in global stock market rout as Robert Zoellick says he is losing confidence in recovery and European bank chief questions whether euro can survive.

World Bank chief Zoellick says 'world in danger zone'

 

 

Worldwide markets tumble on US Federal Reserve news and slowing Chinese growth

 

 

Stark warns debt crisis threatens survival of euro

 

 

EU officials expect Greece to default but stay in eurozone

 

 

 

 

Tesco to start supermarket price war

 

tesco_1935661g.jpg

Tesco is preparing to launch a major price-cutting initiative this weekend, in a move that could have serious implications for the supermarket sector as it tries to woo squeezed consumers.

 

Huge Blackpool gas find may create 5,600 jobs

 

blackpool_2005308g.jpg

A company backed by former BP chief Lord Browne claims to have found a gas field near Blackpool that could be the largest ever discovered in Britain.

ExxonMobil sells giant North Sea oil field to Apache for £1.1bn

 

 

Tar balls on US beaches 'come from BP oil spill'

 

 

 

L&G chief Tim Breedon to retire next year

 

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Tim Breedon, the chief executive of Legal & General, is to retire from the insurer at the end of next year.

 

Easyjet raises profit guidance, returns £190m to investors

 

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EasyJet, the low-cost airline, has raised its full-year profit guidance after it carried more business travellers in the second half and said it would return around £190m to investors.

 

UK car production jumps 10.7pc on overseas demand

 

 

 

 

Bank indicates QE2 is case of when not if

 

 

 

 

HP mulls ousting chief after just 10 months

 

 

 

 

House of Fraser sales jump, but warns life is tough

 

 

 

 

SABMiller lands Foster's for A$9.9bn

 

 

World Bank chief Zoellick says 'world in danger zone'

 

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Robert Zoellick, the World Bank president, warned "the world is in a danger zone" as the economic crisis in the United States, Europe and Japan threatened to ravage the rest of the global economy.

Worldwide markets tumble on US Federal Reserve news and slowing Chinese growth

 

 

 

 

Debt crisis: live

 

 

 

 

Peter Oborne: the great euro swindle

 

 

Our woes stem from a lack of spending not a shortage of money

 

 

More public money needed for bankers as IMF warns of €200bn black hole

If DEBT is the problem REPAYMENT is the solution

 

Debt revenue doesn't equal tax revenue

 

I will pay for my own stupidity but not for the stupidity of others.

 

Remember, profits are privatised, losses are socialised.

That's the 21-century Free Market.

Link to post
Share on other sites

Wall Street Joins Global Stock Plunge After Fed Move

 

By CHRISTINE HAUSER and MATTHEW SALTMARSH 25 minutes ago

 

 

United States markets fell sharply following losses around the world after data from the euro zone reinforced a pessimistic assessment of the American economy by the Fed.

 

 

 

 

 

 

 

 

api.asp?sym=$DJI&duration=1&chartstyle=SectionFront&w=395&h=230&display=fillclose&topLabel=Dow%20Industrials

 

 

 

 

 

22hewlett-sub2-thumbStandard.jpg

Ouster of Hewlett-Packard C.E.O. Is Expected

 

By QUENTIN HARDY and NICK WINGFIELD

 

Directors were said to be considering Meg Whitman, the former chief of eBay, to succeed Léo Apotheker.

 

 

Common Sense

 

22hewlett-sub-thumbStandard.jpg

Voting to Hire a Chief Without Meeting Him

 

By JAMES B. STEWART

 

Hewlett-Packard’s trouble with its chief executive lies with its board, which is rife with animosities, suspicion, distrust and personal ambition.

 

Fed-thumbStandard.jpg

Fed Will Shift Debt Holdings to Lift Growth

 

By BINYAMIN APPELBAUM

 

The Federal Reserve is shifting $400 billion from short- to long-term Treasury securities to push interest rates down and encourage companies to borrow and spend.

 

 

DealBook

 

UBS Trader to Remain in Custody

 

By JULIA WERDIGIER 9:18 AM ET

 

Kweku Adoboli, who didn't request bail, faces amended charges, with authorities alleging that he committed fraud dating back to 2008.

 

Del Monte Fresh Produce Resists Safety Regulations

 

By WILLIAM NEUMAN

 

Del Monte Fresh Produce has accused federal and state regulators of bullying and overreaching in a case involving contaminated melons.

 

U.A.W. Shelves Chrysler Talks and Turns to Ford

 

By NICK BUNKLEY

 

The United Automobile Workers union said that its next target for reaching a new labor agreement would be the Ford Motor Company, signaling that it was having difficulty coming to terms with Chrysler.

 

DealBook

 

Goodrich Sale for $16 Billion Is Confirmed

 

By MICHAEL J. DE LA MERCED

 

The largest acquisition by United Technologies in years would add another major component to a portfolio that already includes Sikorsky helicopters, Pratt & Whitney jet engines and Otis elevators.

 

E.C.B. Takes Steps to Ease Cash Crunch at Continent's Banks

 

By MATTHEW SALTMARSH AND JACK EWING

 

As Greece and Germany debated rescue options, the International Monetary Fund warned that Europe's sovereign debt crisis will require a huge increase in bank reserves.

 

 

Moody’s Downgrades Credit Ratings of Three Large Banks

 

By NELSON D. SCHWARTZ

 

The downgrades of Bank of America, Citigroup and Wells Fargo were driven by the conclusion that the government was less likely to provide support for a faltering bank.

If DEBT is the problem REPAYMENT is the solution

 

Debt revenue doesn't equal tax revenue

 

I will pay for my own stupidity but not for the stupidity of others.

 

Remember, profits are privatised, losses are socialised.

That's the 21-century Free Market.

Link to post
Share on other sites

Breaking news

 

 

 

 

 

 

If DEBT is the problem REPAYMENT is the solution

 

Debt revenue doesn't equal tax revenue

 

I will pay for my own stupidity but not for the stupidity of others.

 

Remember, profits are privatised, losses are socialised.

That's the 21-century Free Market.

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FTSE 100 closes after turbulent week new

 

 

FTSE 100 Index lost £78 billion from its value this week, which is the second worst weekly fall this year.

 

 

 

David Prosser: The biggest problem of all is policymakers' inability to agree

 

 

Outlook Desperate times require desperate measures: and it is difficult to see the US Federal Reserve's extraordinary $400bn "Operation Twist" as anything else (not least, because there are very serious doubts about its effectiveness). What they also require, however, is a consensus for action – the sort of global response mustered by Gordon Brown following the collapse of Lehman, in which parties who have implacable ideological differences put them aside in the face of a crisis. And unfortunately, what we have now is the opposite of that.

 

 

If DEBT is the problem REPAYMENT is the solution

 

Debt revenue doesn't equal tax revenue

 

I will pay for my own stupidity but not for the stupidity of others.

 

Remember, profits are privatised, losses are socialised.

That's the 21-century Free Market.

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Share on other sites

Banks drive FTSE recovery on ECB action hopes

 

LONDON - A strong rebound in banking stocks saw the FTSE end higher on Friday after a turbulent week, with investors pinning hopes on more action from the European Central Bank to deal with the region's debt crisis

 

 

 

LME considering selling itself after approaches

 

LONDON - The London Metal Exchange, the world's top market for industrial metals that has had surging volumes recently, is considering selling itself after being approached about deals, it said on Friday.

7:35pm BST

 

AXA exploring private equity unit sale - sources

 

PARIS - French insurer AXA is exploring a sale of its private equity unit and has hired Credit Suisse to handle it, sources familiar with the situation said on Friday.

2:35pm BST

 

Morgan Stanley rallies, analysts defend on France

 

- Morgan Stanley shares rallied on Friday, despite continued weakness in global markets, as analysts said that fears about its exposure to French banks were overblown and that the bank was prepared to manage risk.

5:10pm BST

 

Good riddance Q3, hello Q4

 

LONDON - After the battering that stocks, commodities and many currencies have taken in the past week, there is little wreckage to cling to at the end of a traumatic third quarter.

2:09pm BST

 

Thomson Reuters sells risk unit to Vista

 

LONDON - Thomson Reuters said it has agreed to sell its trade and risk management software business, which includes flagship product Kondor, to private equity firm Vista Equity Partners.

If DEBT is the problem REPAYMENT is the solution

 

Debt revenue doesn't equal tax revenue

 

I will pay for my own stupidity but not for the stupidity of others.

 

Remember, profits are privatised, losses are socialised.

That's the 21-century Free Market.

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23 September 2011 Last updated at 18:42

 

IMF: Collective action needed now_55557824_012992632-1.jpg

 

IMF chief Christine Lagarde calls for countries to "act now and act together" to keep on the path to economic recovery.

 

 

Pensions and Isas hit by turmoil

 

The pension income bought from retirement savings has fallen by 14% compared with the start of the year owing to market turmoil, experts say.

 

 

 

_55537783_005877762-1.jpgNew public pension plan revealed

 

The government could save £900m a year from public sector pensions without raising workers' contributions for two years, a group claims. 509

 

 

 

If DEBT is the problem REPAYMENT is the solution

 

Debt revenue doesn't equal tax revenue

 

I will pay for my own stupidity but not for the stupidity of others.

 

Remember, profits are privatised, losses are socialised.

That's the 21-century Free Market.

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Share on other sites

[/url]

 

Osborne warns 'six weeks to halt euro crisis' as markets stay on edge

 

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FTSE 100 claws back earlier losses to close up after Chancellor says Europe needs to agree on steps to contain its debt crisis by the G20 leaders meeting in Cannes.

Eurozone heading for 'full blown' recession, RBS predicts

 

 

Greece sees default with 50pc haircut on debt - reports

 

 

Markets sceptical after G20 pledges to preserve stability: reaction

 

 

G20 leaders pledge to protect banks from Europe's debt crisis

 

 

David Cameron: world is on the brink of a new economic crisis

 

 

 

 

China steals from US companies, says Geithner

 

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US Treasury Secretary Tim Geithner has accused China of 'systematically stealing' American companies’ intellectual property in an unusually blunt attack.

 

Tesco 'to cut prices by £500m'

 

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Tesco will invest £500m in a series of price cuts from next week – its biggest move for 25 years, claimed Richard Brasher, the head of its UK operations.

 

KPMG to lead investigation into UBS failings

 

kweku_2007735g.jpg

KPMG will lead an investigation into the possible failings that led to alleged rogue trader Kweku Adoboli's $2.3bn loss at Swiss banking group UBS.

 

SSE abandons nuclear plans for wind

 

wind_2007865g.jpg

Scottish and Southern Energy has confirmed it will withdraw from plans to develop nuclear power, deciding that wind farms provide a better investment.

Centrica buys Texan electricity supply firm

 

 

 

HP replaces chief with former eBay boss

 

 

 

 

FedEx shares tumble as global growth stalls

 

 

 

 

Collins Stewart warns on profits

 

 

 

 

Betfair 'removed £52,000 from account'

 

 

 

 

Tom Hunter's Flying Brands stake dives

 

 

Debt crisis: live

 

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Markets in Europe rally while Wall Street marks time after the G20 pledges to support financial and banking markets, although investors remained nervous of a Greek default.

Eurozone heading for 'full blown' recession, RBS predicts

 

 

 

 

Fidelity: 'At times like these, investors should remember the strong get stronger'

 

 

 

 

Food security concerns

 

 

Fear gauge enters the red zone

 

 

This is a political problem - and governments are all out of ammunition

 

 

FedEx delivered the bad news and we've got the weekend to sort it out

 

 

Public sector pensions must share the pain of this global financial crisis

If DEBT is the problem REPAYMENT is the solution

 

Debt revenue doesn't equal tax revenue

 

I will pay for my own stupidity but not for the stupidity of others.

 

Remember, profits are privatised, losses are socialised.

That's the 21-century Free Market.

Link to post
Share on other sites

U.S. Pressures Europe to Act With Force on Debt Crisis

 

By MARK LANDLER and BINYAMIN APPELBAUM 1:30 PM ET

 

 

President Obama is urging the heads of Germany and France to take coordinated measures to prevent Greece’s debt woes from spreading to its neighbors.

 

 

 

 

24policy-span-sfSpan.jpg

Philip Scott Andrews/The New York Times

 

President Obama and Chancellor Angela Merkel of Germany at the White House in June.

 

 

 

 

 

 

24yuan-span-thumbStandard.jpg

China’s Economic Engine Shows Signs of Slowing

 

By KEITH BRADSHER 1:56 PM ET

 

China’s economy has been one of the few drivers of the world’s economy since the financial crisis of 2008, so signs of deceleration could add to worries about the global outlook.

 

 

24wallstreet-thumbStandard.jpg

Wall Street Ventures Into Positive Territory

 

By CHRISTINE HAUSER and MATTHEW SALTMARSH 2:10 PM ET

 

As stocks pulled slightly ahead Friday, analysts cited anxiety that governments in industrial nations were not doing enough to support growth.

 

 

24clerks-span-thumbStandard.jpg

Judges Compete for Law Clerks on a Lawless Terrain

 

By CATHERINE RAMPELL 1:41 PM ET

 

Federal judges compete aggressively each year to recruit the best law students in a process that has become a frenzied free-for-all.

 

 

GOLD-1-thumbStandard.jpg

A Gold Rush Wanes as Hedge Funds Sell

 

By JULIE CRESWELL

 

After climbing for about two years, the prices of gold and some other commodities are falling, and hedge funds are unwinding their positions.

 

HEWLETT-thumbStandard.jpg

Meg Whitman Is Named Hewlett-Packard Chief

 

By NICK WINGFIELD

 

The company said its strategy to transform its business was sound, but it needed new leadership to carry it out.

 

 

Workplace-thumbStandard.jpg

More Offices Let Workers Choose Their Own Devices

 

By VERNE G. KOPYTOFF

 

In the consumerization of I.T., fewer companies are dictating which smartphones, tablets and other electronics must be used by their employees.

 

 

SOLAR-1-thumbStandard.jpg

In Rush to Assist a Solar Company, U.S. Missed Signs

 

By ERIC LIPTON and JOHN M. BRODER

 

Industry analysts and government auditors say the administration failed to take note of trouble already evident in the solar energy marketplace.

 

If DEBT is the problem REPAYMENT is the solution

 

Debt revenue doesn't equal tax revenue

 

I will pay for my own stupidity but not for the stupidity of others.

 

Remember, profits are privatised, losses are socialised.

That's the 21-century Free Market.

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