Posted by seumasach on October 16, 2008
California is about to find out if it will be able to find a lender willing to take the risk.
The Wall Street financial crisis is leaving investors scrambling for cash. That means there is less money available to be lent out. Those who rely on borrowed money to finance operating expenditures may be in for a painful dose of reality: In times of crisis, debt reliance can be catastrophic.
The biggest state in the union may be about to realize just that.
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Posted by seumasach on October 16, 2008
Despite spending trillions of dollars on the bailout plans, banks are still hoarding cash.
Why?
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Posted by seumasach on October 16, 2008
Something very strange and worrying is going on in money markets.
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Posted by seumasach on October 16, 2008
RTTNews) – In early trading on Thursday, the Norwegian krone slumped to its lowest level since January 1999 against the European currency as the Norwegian central bank lowered its key interest rate by 0.5% to 5.25% yesterday to avert an economic slowdown caused by the global credit crisis. The krone also plummeted to a 2-year low against the dollar.
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Posted by seumasach on October 15, 2008
France 13/10/2008 : The official publication on the 8th of October 2008 – mostly in catimini- of the first
intermediate results of the International Interphone Study from the International Research Centre on
cancer dependent on WHO confirms the increased tumors and cancer cases due to the use of mobile
phone.
Posted in Uncategorized | Tagged: EM radiation health hazard | Leave a Comment »
Posted by seumasach on October 14, 2008
Cailean Bochanan
14th October, 2008
Optimism returned to the markets today as Gordon Brown, the rock on which the new doctrine of “part-nationalisations” is built, set the master plan in motion. But will it work, will it, as they say, “do the trick”?
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Posted by seumasach on October 13, 2008
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Posted by seumasach on October 13, 2008
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Posted by seumasach on October 13, 2008
Alistair Darling pledged that RBS and the merged Lloyds-HBOS would be run at arm’s length from the government and ministers would not be involved in day to day decisions.
”The reason we are doing this is not because we want to run banks,” the chancellor told the BBC Today programme. ”The reason we are doing it is because this is the only way, when markets are not open to certain banks, they can get the capitalisation they need, this is the government’s only intervention here.”
Whilst the guardian lefties and the the BBC’s Robert Peston hail this “nationalisation”, the FT can be relied on to give the city’s brutal verdict. The only surprise for us is that the government is taking some preference shares, but this, along with the dividend restrictions, only really serves to guarantee that the share issue, which the Treasury is underwriting fails completely. The government therefore ends up paying billions for a whole load of shares which it could have simply taken for nothing.
The government has done enough to start a run on the pound and bankrupt the taxpayer, but this is a drop in the ocean of banking debt.
Peter Hall Larsen
FT
13th October, 2008
Some of Britain’s largest banks are to scrap dividends as part of a government plan to inject £37bn into three of the country’s biggest lenders.
Under the terms of the bailout, Royal Bank of Scotland, Lloyds TSB and HBOS will be prevented from paying dividends on ordinary shares until they have repaid in full a total of £9bn in preference shares they are issuing to the government. Barclays, which is hoping to avoid government support by raising around £6.6bn from private investors, has scrapped its final dividend for 2008 in a move designed to save £2bn.
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Posted by seumasach on October 12, 2008
Bush begged the G-7 to help fix America’s economic meltdown. Like a drowning man trying to hang onto the back of a good swimmer, or like a criminal trying to bring in others to his defense, he pleadingly said “We’re all in this together.”
Posted in Uncategorized | Tagged: financial collapse, independent Europe | 1 Comment »
Posted by seumasach on October 12, 2008
Lown Turner
10th October, 2008
SO where are you going to get your £16,000 from, then? That’s how much critics of Alistair Darling’s £250bn bank bail-out say it’s going to cost each of us.
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