Posted by smeddum on September 2, 2009
Goldman Sachs Wrong on Economic Recovery, Macro Hedge Funds Say
Cristina Alesci
Tuesday, Sept 1, 2009
Paul Tudor Jones, the billionaire hedge-fund manager who outperformed peers last year, is wagering that Goldman Sachs Group Inc. and Morgan Stanley got it wrong in declaring the start of an economic recovery. Read the rest of this entry »
Posted in Financial crisis | Tagged: Goldman Sachs | Leave a Comment »
Posted by smeddum on September 2, 2009
Posted in Financial crisis | Tagged: Financial crisis | Leave a Comment »
Posted by smeddum on September 1, 2009
Worst of slump yet to come, says economist
September 1, 2009
Ann Pettifor predicted a painful end to the good times. Now she says that only radical action can prevent further gloom
Phil Thornton
Ann Pettifor is a member of a select club — the seers who saw it all coming. Now the economist, who predicted the credit crunch as far back as 2003, believes that the worst is yet to come unless there is radical reform of the financial system. Read the rest of this entry »
Posted in Financial crisis, Uncategorized | Tagged: financial crash | Leave a Comment »
Posted by smeddum on September 1, 2009
September 1, 2009
Leo Lewis, Asia Business Correspondent
Times
Share prices in Shanghai slumped by 7 per cent yesterday amid fears that the “China effect”, which has helped to stoke growing global economic confidence in the past six months, is about to fizzle out. Read the rest of this entry »
Posted in Financial crisis | Tagged: Baltic Dry Index | Leave a Comment »
Posted by smeddum on August 30, 2009
28th Aug 2009
Dear Reader,
I increasingly feel like a gum shoe detective staring down at an awkwardly sprawling corpse, but being told by the boss that I’m wrong. In fact, that the corpse has a bright and promising future. Read the rest of this entry »
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Posted by smeddum on August 28, 2009
Racketeering 101: Bailed Out Banks Threaten Systemic Collapse If Fed Discloses Information
Tyler Durden
08/27/2009
And so the guns come out blazing. The Clearing House Association, another name for all the banks that were bailed out over the past year with the generous contributions from all of you, dear taxpayers, are now threatening with another instance of complete systemic collapse if Bloomberg’s lawsuit is allowed to proceed unchallenged, let alone if any of the “Audit The Fed” measures are actually implemented. Read the rest of this entry »
Posted in Financial crisis | Tagged: Bank of America, Banks, Bloomberg, Cash Credit Discount Window, FED, Federal Reserve. Federal Reserve System, HSBC, JP Morgan, liquidity, racketeering, Speculation, The Clearing House Association, US Wells Fargo | Leave a Comment »
Posted by smeddum on August 27, 2009
Milan Swaps Under Criminal Probe by Prosecutor Pursuing Banks
By Vernon Silver and Elisa Martinuzzi
Aug. 27 (Bloomberg) — In June 2005, Milan’s city council voted to hire four banks to arrange Europe’s biggest-ever municipal bond sale at a fee of just 0.01 percent. That minuscule cost puzzled one councilman.
“I had a hunch something was wrong,” says Basilio Rizzo, one of 14 politicians on the 60-member council who tried to change the deal after becoming suspicious of the banks’ motives. “Banks can’t do things for free.” Read the rest of this entry »
Posted in Financial crisis | Tagged: Credit default swaps | Leave a Comment »
Posted by smeddum on August 27, 2009
Posted in Financial crisis | Tagged: dollar collapse, US dollar | Leave a Comment »
Posted by smeddum on August 26, 2009
The Next Credit Bubble Is Now
Are you ready for a replay?
By Heidi N. Moore
Tuesday, August 25, 2009
Mortgage-backed securities—and the bankers who loved them—wreaked havoc last year, helping to pitch us into the deepest downturn since the Great Depression. Are you ready for a replay?
Gird your loins. The signs are growing that there’s a new Wall Street gold rush under way—for those complex bundles of mortgage loans that fueled banks’ profits between 2005 and 2007. This year, prices for mortgage-backed securities are rocketing as federal stimulus dollars flood the market. But the difference with this “boom” is the center of gravity has shifted: from giddy, cowboy bankers to the Federal Reserve. The Fed is so eager to save banks, create a demand for these securities, and stabilize the housing market that it’s taking troubled loans and mortgages onto its own books. The problem is the Fed may be in well over its head. Read the rest of this entry »
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Posted by smeddum on August 26, 2009
Paul Joseph Watson
Prison Planet.com
Tuesday, August 25, 2009
A New York District Judge has ordered the Federal Reserve to disclose the destination of around $2 trillion dollars in bailout funds after the Fed failed to convince the Judge that the records should be exempt from the Freedom of Information Act. Read the rest of this entry »
Posted in Financial crisis | Tagged: undemocratic bailout | Leave a Comment »
Posted by smeddum on August 25, 2009
Crisis hits restaurants as diners decide to stay home
Celebrity chefs suffer as recession forces closures and reduced trading hours
By Martin Hickman, Consumer Affairs Correspondent
Monday, 24 August 2009
Restaurants are closing at the fastest rate in decades as people economise on eating out during the recession, industry figures reveal.
Data given to The Independent shows the recession has badly bruised food outlets, with diners spending £330m less on sit-down meals and takeaways in the first half of this year. In the £19bn-a-year sector – whose margins average 5 per cent – independent restaurants have been worst affected, while branded groups have lured customers with half-price offers that have hit profits. Read the rest of this entry »
Posted in Financial crisis | Tagged: UK economy | Leave a Comment »
In These New Times 