Category: Credit Crisis 2009
The analysis published under this category are as follows.
Wednesday, April 29, 2009
Secretive Bank Stress Tests Heighten Stress for Investors / Politics / Credit Crisis 2009
By: Money_Morning
Shah Gilani writes: The bank stress test of the nation’s 19-largest financial institutions is a flawed exercise that threatens to elevate the very economic-system stress it was designed to relieve.
Monday, April 27, 2009
Why Monetary Reform? / Politics / Credit Crisis 2009
By: Richard_C_Cook
Do you remember the TV cartoon show “Pinky and The Brain”?Read full article... Read full article...
Sunday, April 26, 2009
The Financial Barbarians at the Gate / Politics / Credit Crisis 2009
By: Submissions
Guns & Butter Interviews financial economist and historian, Dr. Michael Hudson.
Saturday, April 25, 2009
United States Empire Built on False Prosperity Collapsing / Politics / Credit Crisis 2009
By: James_Quinn
KEEP ON ROCKIN IN THE FREE WORLD - The American Republic is 226 years old. The Roman Empire lasted 13 centuries before collapsing. The Roman emperors attempted to stave off the collapse by providing bread and circuses to the masses. Feeding Christians to lions worked only for so long. I picture Caligula “Mad Money” Cramer exhorting the masses that the worst was over and not to worry about the Vandals and the Huns. Nero “Mustard Seed” Kudlow probably saw a recovery on the horizon as Barbarians were at the gates of the city. Cleopatra “Money Honey” Bartiromo was proclaiming that the stupid masses didn’t know what was best for the system. Caesar “Glimmers of Hope” Obama was sure that if they just distributed more bread and added a few more circuses, things would improve by the Ides of March.
Friday, April 24, 2009
Financial Crisis Opportunities Amidst The Greatest Wealth Transfer In History / Stock-Markets / Credit Crisis 2009
By: Ty_Andros
In G7 capitals and financial centers, Public Servants and their elite Banksters - both central and money center banks and investment brokers - nervously tell their clients to wait for the inevitable recoveries, along with a chorus from the elite media stooges to fool the citizens and investors of their cluelessness. Neither the Chicago School nor Keynes can explain what is unfolding, and in the Austrian School everything is and has been predictable. Why are the first two considered mainstream? Because in both schools of thought GOVERNMENT is the answer rather than the problem. For the mainstream, the problems can always be solved by borrow, print, lend and spend.
Friday, April 24, 2009
The Fed: Our Next Troubled Biggest Bank? / Politics / Credit Crisis 2009
By: Money_and_Markets
Mike Larson writes: The Federal Reserve is watching the backs of U.S. banks. But sometimes I wonder, “Who’s watching the Fed’s back? Is the Fed our next troubled bank?”
You see, all of this garbage paper that’s going bad — the troubled residential mortgage backed securities (RMBS), the commercial mortgage backed securities (CMBS), the asset backed securities (ABS), the Fannie Mae bonds, the corporate loans, and so on — hasn’t just gone
Friday, April 24, 2009
Are Investment Banks Obsolete? / Companies / Credit Crisis 2009
By: Money_Morning
Martin Hutchinson writes: It’s time to restructure the wheeler-dealers of Wall Street – the U.S. investment banks. Just over a year ago, there were five major investment banks. Now there are only two – or none, depending on how you define the term.
Thursday, April 23, 2009
Fannie Freddie Mortgage Loan Delinquencies Soar / Housing-Market / Credit Crisis 2009
By: Mike_Shedlock
On Tuesday, Fannie Mae and Freddie Mac reported Mortgage Delinquencies Rose 50% in a Month.
Read full article... Read full article...Fannie Mae and Freddie Mac mortgage delinquencies among the most creditworthy homeowners rose 50 percent in a month as borrowers said drops in income or too much debt caused them to fall behind, according to data from federal regulators.
Thursday, April 23, 2009
Corporate Bankrupcies Show Credit Default Swaps Should be Banned / Stock-Markets / Credit Crisis 2009
By: Money_Morning
Martin Hutchinson writes: For frustrated investors looking to justify the ban of credit default swaps (CDS), look no further than last week’s corporate bankruptcies of Canadian newsprint producer AbitibiBowater Inc. (ABWTQ) and U.S. shopping center developer General Growth Properties Inc. (GGP).
Wednesday, April 22, 2009
Halifax HBOS Bank Deteriorating Banking Services, Low Savings Interest Rates / Personal_Finance / Credit Crisis 2009
By: Nadeem_Walayat
Following the UK tax payer funded bailout of HBOS by Lloyds TSB, as anticipated the quality of HBOS banking services continues to deteriorate for example of specific note are the introduced delays in the transfer of funds to bank accounts with other institutions, this appears to be an attempt to force customers to upgrade to the fee based accounts which do appear to offer a more competent transfer process in terms of time.
Monday, April 20, 2009
Financial System Still Struggling to Gain a Firm Footing / Stock-Markets / Credit Crisis 2009
By: Paul_J_Nolte
Based upon the earnings of the banks so far, it looks as though the TARP program is working. Provide banks a whole bunch of money and create a very wide spread between short and long rates and even the less than stellar banks should make money. However, with much of the gains coming from the benevolent government aid (that is not likely to be repeated in subsequent quarters), the above average (and positive) earnings may be nothing more than a one-quarter phenomenon. There was additional evidence this past week that the economy is still deteriorating.
Monday, April 20, 2009
$400 Billion More Bank Losses On the Way / Companies / Credit Crisis 2009
By: Mike_Shedlock
Another day, another glowing financial headline. Here is the ridiculous headline of the day: Bank of America posts first-quarter profit, surpasses view.
Read full article... Read full article...Bank of America Corp. posted strong first quarter results today, as higher revenue from the purchase of Merrill Lynch & Co. help offset a surge in credit costs.
Saturday, April 18, 2009
Russian Anti-Financial Crisis Measures Inefficient / Politics / Credit Crisis 2009
By: Pravda
The anti-crisis measures of the Russian government are inefficient. Russia should have stimulated the home demand instead of giving the direct support to banks and the real sector of economy.Read full article... Read full article...
Thursday, April 16, 2009
Bankrupt Banks to be Hit by New Wave of Losses / Stock-Markets / Credit Crisis 2009
By: Jim_Willie_CB
One must give a tip of the hat to the Wall Street conmen for engineering a reasonably robust stock rally. The Dow and S&P were led by financials. The Financial Times out of London claims ‘no real money’ was behind the stock rally of over 20%. They must mean huge short covering, enhanced by pressure tactics from Wall Street brokerages themselves. They must mean Working Group For Financial Markets putting to work some of their ‘Black Bag’ money. They must mean influenced arbitrage games from preferred versus common shares, which harmed the public but enriched the insiders. Amazing how a better financial journal on US topics comes from outside the Untied States. Read full article... Read full article...
Thursday, April 16, 2009
Greedy Banks and Politicians Partners in Financial Crisis Crime / Politics / Credit Crisis 2009
By: John_Browne
Rightly, the students of Austrian Economics have laid the blame for the current economic crisis squarely on the doorstep of the Keynesian policies of governments and central banks. However, in this case, there are other culprits involved, most notably the former titans of financial services. During this decade, major international money central banks from Wall Street to London and even to Zurich displayed unimaginable greed, reckless risk taking and gross negligence. Depositors, borrowers and shareholders should be questioning whether any major financial institution will ever again be worthy of their trust. Read full article... Read full article...
Tuesday, April 14, 2009
Wall Street Fraud, Where Were the CPAs? / Politics / Credit Crisis 2009
By: Submissions
Ralph Nader writes: Where were the giant accounting firms, the CPAs, and the rest of the accounting profession while the Wall Street towers of fraud, deception and cover-ups were fracturing our economy, looting and draining trillions of dollars of other peoples' money?This is the licensed profession that is paid to exercise independent judgment with independent standards to give investors, pension funds, mutual funds, and the rest of the financial world accurate descriptions of corporate financial realities.
Read full article... Read full article...
Monday, April 13, 2009
All the Banks Pass their Stress Tests, Surprise, Surprise, Surprise / Politics / Credit Crisis 2009
By: Paul_J_Nolte
I can just hear Gomer Pyle crying out “surprise surprise surprise”. All the banks passed their stress test. What remains an open question is just how stressful was the test – a stroll about the park (benign economic growth with very little defaults) or something to get the heart racing. Best guess, based upon the results – a lap around the kitchen table. Another big surprise was Wells Fargo’s earnings report – well above expectations, however little background as to quality of loans/balance sheet and how much bad debt is still hanging around.Read full article... Read full article...
Monday, April 13, 2009
Nationwide Tax Payers Revolt is Coming / Politics / Credit Crisis 2009
By: Mike_Shedlock
Shortly after I posted a Nationwide Tax Revolt Is Coming, Jack Dean at Pension Tsunami replied "My friends at the Orange County Register agree with you about a revolt brewing."
Monday, April 13, 2009
Time To Breakup Goldman Sachs / Politics / Credit Crisis 2009
By: Mike_Shedlock
It's time to breakup Goldman Sachs, Citigroup, and for that matter any bank or holding company deemed too big to fail. It's not just the "too big to fail" hazard that is troubling, it's also the power these corporations have and the potential to abuse that power that is also troubling.Please consider the article Incredibly Shrinking Market Liquidity as posted on the Zero Hedge blog.
Read full article... Read full article...
Sunday, April 12, 2009
U.S. Financial Crisis Could Lead to New World Order / Politics / Credit Crisis 2009
By: Global_Research
In the U.S. about to lose its status as the dominant global superpower? Will the dollar collapse? If so, what would become the new global reserve currency and what would replace U.S. hegemony in a new world order?
American troops are currently stationed in over 150 countries around the world and have been actively engaged in combat since the beginning of the war in Afghanistan in 2001. The pretext for the invasion of Afghanistan was provided by the 9/11 attacks.