Wednesday, April 28, 2010
The global financial system is a tight web of connections. While the US Congress debates financial reform the Euro system is being shaken down by its weakest member Greece… In the financial crisis of 2007-2009 everyone was taken by surprise by “mortgage repayment” default risk… The assumption had always been that RMBS were sufficiently varied by [...]
The House of Commons Treasury Committee Ninth Report of Session 2009–10 Report, together with formal minutes Ordered by the House of Commons, to be published 22 March 2010 Too important to fail– too important to ignore Summary The banking crisis of the last two years resulted in government support for the sector around the world amounting to almost a [...]
Filed in Creativity, Launching..., Liquidity, Open engines, Pricing, Recession busters..., Regulatory, Restructuring, Transparency, Uncategorized
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Also tagged audit the Fed, Congress, credit ratings, crisis, economic justice, Federal Reserve, global hot money, Wall Street
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This is what global hot money sounds like… or put differently the “globalization of capital flows”… moving funds between asset classes and currencies to take advantage of changes in valuations and relative returns. Does this type of financial activity add to nation’s wellbeing or does it just represent a “skimming” of a nation’s productive capacity? [...]
Tuesday, February 16, 2010
The struggles that Greece is facing to reform it’s fiscal situation are ones that Portugal, Italy, the UK, California, Illinois, New Jersey and others will face… substantial debt loads with diminishing revenue sources and large social commitments… we’ll see this story be replayed over and over… and that doesn’t even take into account the potential nuclear [...]
Sunday, February 14, 2010
The Daily Show With Jon Stewart Mon – Thurs 11p / 10c Elizabeth Warren www.thedailyshow.com Daily Show Full Episodes Political Humor Health Care Crisis Elizabeth Warren, chairman of the Congressional Oversight Panel, explains the kabuki going on in the Senate over financial reform to Jon Stewart of the Daily Show … she says write your [...]
Filed in Creativity, Launching..., Open engines, Recession busters..., Regulatory, Restructuring, Transparency
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Also tagged break up the banks, Congress, Glass Steagall, Obama, TARP, unrest
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Saturday, February 13, 2010
The bits and pieces are being assembled into a mosaic which is revealing the true enablers of the global credit crisis… And it’s the trading houses like Goldman Sachs who created financial products, sold them off and then bet against the products they originally created… and often these bits of wizardry were designed to live off [...]
Saturday, February 13, 2010
From Bloomberg: Fitch’s Rawkins says EU failed to ease Greek debt crisis … Mr. Rawkins says about Greece’s fiscal actions … “The problem with all those measures is that they take time…” Yes… when governments make fiscal adjustments it generally takes numerous quarters or years for the effects to have an impact on the economy… (of course [...]
Thursday, February 11, 2010
From Jesse’s Cafe a useful view into the relative contribution of states to GDP… Who will backstop California?
Thursday, February 11, 2010
From FT Alphaville… ~~~ “Looks like Credit Suisse has jonied the conspiracy trying to undermine Spain. Here’s a ranking of countries by perceived risk, taking into account things like current account balances, public and private debt, and CDS spreads. It comes from a note on the impact of sovereign risk on European banks, published on Wednesday [...]
Wednesday, February 10, 2010
From Finextra: ~~~ A group of 48 non-profits are tapping YouTube, Twitter and facebook for a UK campaign to introduce a “Robin Hood tax” on banks that they argue could raise hundreds of billions of pounds a year to fight poverty and climate change. The coalition of charities, aid agencies, green groups and unions is calling [...]