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Goldman Sachs riding high
in Sox First, on July 13, 2009
...ing away from risks, Goldman is courting them. A common measure of risk-taking at Goldman and other banks is known as value at risk, which estimates how much money a firm might lose on a single day. A...
Derivatives tripped up regulators: Geithner
in Sox First, on July 11, 2009
...ion will define derivatives. Perhaps they're still working it out. In the meantime, the the big banks like Credit Suisse are now pouring in money to stop the US administration from bringing deriva...
Neverland's future: up for grabs
in Sox First, on July 4, 2009
... So should they do with Neverland? The answer is pretty simple: just sell it off to help repay the banks and creditors....
It's getting tougher to get a mortgage-broker license
in The Mortgage Roadmap, on July 2, 2009
...ifficult for them to receive mortgage broker licenses.
For instance, the Massachusetts Division of Banks, according to the Boston Business Journal, is now rejecting about 23 percent of the would-be...
Will California drag down the United States?
in Sox First, on July 2, 2009
...o do that, the deficit blows out by another billion dollars. The state plans to issue IOUs but the banks are saying there's no guarantee they'll honor the bits of paper. California Controll...
Beware the China bubble
in Sox First, on June 29, 2009
...f that was on speculative assets, not the real economy. Fitch Ratings now warns that the Chinese banks are an accident waiting to happen. And it will affect all of us. Fitch warns: "With much...
Dragging out the foreclosure mess
in The Mortgage Roadmap, on June 26, 2009
... still living in their homes. That's because there are so many foreclosures taking place, that banks are behind on taking back foreclosed properties . That leaves many homeowners in limbo: They c...
Bankers' pay soars despite crisis
in Sox First, on June 22, 2009
...aving. Market rates for bankers have been running close to the boom-time highs of two years ago and banks are also offering guaranteed bonuses. For ordinary income earners and for those who have lost...
Mafia cashes in on crisis
in Sox First, on June 19, 2009
... and using its hoard of cash for investing and lending money to those who can't get it from the banks. As reported here , Italy's shopkeepers' association last year did a study showing t...
Do you trust the government to protect you from mortgage lenders?
in The Mortgage Roadmap, on June 18, 2009
...;s surprise, the banking industry is not pleased with the plan. They say such new rules could force banks out of business.
Of course, banks and other mortgage lenders have no one to blame but themsel...
Does Obama's patchwork overhaul go far enough?
in Sox First, on June 18, 2009
... that would affect their business and stop them raking in enormous profits. So don't expect the banks to lie down and cop this one. As Bloomberg reports, lobbyists will be doing everything to en...
How MySpace fell behind
in Sox First, on June 17, 2009
... As I pointed out in this blog entry last month, Facebook and Twitter are living on bailouts (the banks should be so lucky) and will have to radically change their business models if they are to sur...
By Boe Jewelry
in The Jewelry Weblog, on June 10, 2009
...oe jewelry has been worn by celebrities such as Cameron Diaz , Oprah Winfrey, Mandy Moore , Tyra Banks, Sara Ramirez (Grey's Anatomy), Mary J. Blige, Kelly Ripa, Jessica Alba , and the co-ho...
Rental Rates for that House at the Beach this Summer are Down
in The Flyaway Weblog, on June 10, 2009
...at, too. So far this spring - from Cape Cod to the Jersey Shore, from Ocean City, Md., to the Outer Banks of North Carolina to Myrtle Beach, S.C. - real estate agents are reporting that business is do...
Banks to face more stress tests
in Sox First, on June 9, 2009
... I raised the question of whether the tests had been put in place to stop the panic, not to fix the banks. More a political ploy than anything else. Now, the Congressional Oversight Panel has put out...
Subprime and racism
in Sox First, on June 7, 2009
...ime crisis is the impact it's had on the African American and Hispanic communities, and the way banks had targeted these people for predatory and toxic loans. As Melvin Oliver and Thomas Shapiro w...
Banks fight to keep accounting tricks
in Sox First, on June 6, 2009
...
US accounting standard setters might be tightening the rules for banks, forcing them to take off balance sheet toxic vehicles on to their books but don't expect the banks to take that lying ...
In Search of a Cool Summer: Baguio, Philippines
in Hidden Travel Gems, on May 29, 2009
Asia is hot in the summer. At least most of it is. But there are a few spots where the summer traveler can enjoy moderate, perhaps even cool, weather. Chief among those locations is Baguio City, Philippines.
Baguio is referred to affectionately as the summer capital of the Philippines. The title...
Loan modifications not always helping homeowners
in The Mortgage Roadmap, on May 26, 2009
...on wants to see fewer housing foreclosures. That makes sense: Housing foreclosures help no one. The banks certainly don't want these homes back. Foreclosures devastate families. And they weaken ne...
Cashing in on the disgust with banks
in Sox First, on May 19, 2009
...
Last week, I did a blog entry looking at how banks were going to face more intense competition in the wash-up from this financial crisis. To put it bluntly, banks will be losing market share to ...
Amali Jewelry
in The Jewelry Weblog, on May 18, 2009
...6, and has quickly become a favorite among celebrities . Most recently, Amali Jewelry adorned Tyra Banks on America's Next Top Model, and Tori Spelling on the cover of People Magazine. They are a...
Financial crisis winners to hurt banks
in Sox First, on May 15, 2009
...
Who are the big winners coming out of this financial crisis? And how will they threaten to destroy banks? The Economist identifies four big winners that will decimate the banking sector. These inc...
Why stricter laws won't work
in Sox First, on May 13, 2009
...ive ... The Basel directives can be seen, in retrospect, probably to have done more harm than good. Banks took the view that capital sufficient to comply with the regulations was sufficient for their ...
Downturn easing without recovery
in Sox First, on May 12, 2009
...ment ... is betting on muddling through: the Fed's measures and government guarantees mean that banks have access to low-cost funds, and lending rates are high. If nothing nasty happens - losses o...
Credit card losses to hit banks
in Sox First, on May 11, 2009
...eshow when you take a look at the impact that credit card losses will have on the US economy and US banks. Credit card debt is the ticking time bomb for banks, says the New York Times . According to...
Lasche US-Bankenaufsicht: Sexy Banks in transparent Pants
in Bauen - aber richtig, on May 8, 2009
© markhillary Da hilft nur noch Humor! Und den liefert Tobias Bayer scharf wie Tabasco-Sauce in seinem Kommentar am 7. Mai 2009 in der financial times deutschland: "Was fehlt in der gesamten Kreditkrise, ist eine Regierung, die mit eitlen, aktionsarmen Lustspielchen aufhört. Das b...
No recovery yet
in Sox First, on May 8, 2009
...Some would point to the results of the bank stress tests as a green shoot with 10 of the 19 largest banks needed to boost their capital by a combined total just shy of $75 billion. Not as much as many...
Bankroll blues
in Sox First, on May 7, 2009
...
Two alarming reports, both from the Centre for Public Integrity , show how entrenched the banks are in the political system and how close they are to politicians. Is it any wonder the US Governme...
Testing stress tests
in Sox First, on May 5, 2009
...
And so The Wall Street Journal reports that 10 of the 19 banks undergoing stress tests will have to boost their capital and that list might include Wells Fargo, Bank of America and Citigroup. Th...
The next accounting battle
in Sox First, on May 3, 2009
...t vehicles were one of the reasons the markets went into meltdown. Using borrowed money, investment banks, hedge funds and commercial banks made reckless bets. They created and sold exotic investment ...
Nouriel Roubini: we're not even at the bottom yet
in Sox First, on April 27, 2009
...are in the middle of U-shaped recession and the US government has no alternative but to nationalize banks. What's equally as concerning is his inability to identify where the next wealth creating...
Big bonuses at imploding banks
in Sox First, on April 26, 2009
...
The banks are imploding but that hasn't stopped the bankers raking in massive bonuses. Just what they're being rewarded for is anyone's guess. The New York Times reports that six of...
One more step to bank nationalization
in Sox First, on April 24, 2009
...
While the Federal Reserve says most US banks are well capitalized and will be okay in these stress tests, chances are the public and investors will still have to confront the n-word. Nationaliza...
Dangerous economic optimism
in Sox First, on April 24, 2009
...to a sense of complacency where they won't make hard decisions on crunch issues like fixing the banks and ruinous deflation. So what to make of all the glimmers of hope? Recovery is still some ti...
Another sucker's rally
in Sox First, on April 22, 2009
...xpected because of the weak economy with deflationary forces for the next two years. Secondly, some banks will be found to be insolvent. And finally, some emerging markets are likely to be caught up i...
TARP fraud investigations
in Sox First, on April 21, 2009
...larming is that this follows reports that the bailout money might convert to equity stakes in the banks, resulting in the nationalization of banks via the back-door....
How a nut case blogger fooled the market
in Sox First, on April 21, 2009
... had a Bloomberg report where US Treasury was called in to deny a blog report that 16 of the 19 banks being stress tested are insolvent. That report contributed to falls in the US market, althou...
Back door bank nationalisation
in Sox First, on April 20, 2009
... I did a blog entry looking at how the Obama administration was opening the door to nationalizing banks where the US government is repaid with common stock giving it a stake in the business. Now th...
发行货币的英美城镇
in Wangtam, on April 18, 2009
在美丽的苏塞克斯市(Sussex)路易斯小镇(Lewes)-距离英国南部海岸10英里的内陆地区,一项有趣的实验正在进行。
乍看之下,路易斯似乎是过去风景明信片上的一座城市:高低起伏的街道,稀奇古怪的商店,一座铺着鹅卵石的拱桥,一个维多利亚时代的啤酒厂,喜欢穿着古装游街庆祝坏人和殉道者百年历史的民众。但在幕后,这个18世纪改革家托马斯·潘恩(Thomas Paine)的故乡正在实践其社会激进主义的传统。
两年前,路易斯镇参加了一项日益国际化的活动-"城镇转型"。参加该活动的城镇分布在多个不同国家,包括美国、日本、澳大利亚和意大利等,这些城市的居民认为,维护其社区价值观、应...
Is the US becoming like Russia?
in Sox First, on April 15, 2009
...of policy makers has been mesmerized by Wall Street, always and utterly convinced that whatever the banks said was true. Alan Greenspan's pronouncements in favor of unregulated financial markets a...
Recession: neither the beginning of the end or end of the beginning
in Sox First, on April 13, 2009
... necessary for consumers, investors, and businesses to repeat what they did then has vanished. Yes, banks will lend to highly trustworthy borrowers, and the low-hanging fruit of highly trustworthy bor...
The great economic cover up
in Sox First, on April 10, 2009
...ng that Timothy Geithner, the Secretary of the Treasury, and others in the administration, with the banks, are engaged in a cover up to keep us from knowing what went wrong? WILLIAM K. BLACK : A...
The Panic of 2008-09
in Sox First, on April 7, 2009
... Panics of 1837, 1857, 1873, 1893, and 1907 where depositors withdrew funds and hoarded cash, where banks lost confidence in one another driving up the price of their raw material, money, and where ra...
Bailout funds sink without a trace
in Sox First, on April 6, 2009
...bemoaning the lack of oversight into the Troubled Asset Relief Program (TARP) bailouts. Some of the banks have not been able to say where the money has gone. Now, the US Public Interest Research Gro...
Fake Accounting Standards Board strikes again
in Sox First, on April 6, 2009
...riteria. Now CFO.com tells us it's even worse in Marie Leone's piece Rule Change Lets Banks Reinvent the Past . The FASB now allow banks to stick impaired financial securities into a bal...
Giving banks permission to lie
in Sox First, on April 4, 2009
...
More fallout from the Financial Accounting Standard Board's latest attempt to make the banks happy. From now on, it should be called the Fake Accounting Standards Board. As Peter Schiff, the ...
G20 and FASB: the banks win again
in Sox First, on April 3, 2009
...g Alpha column, it's an April Fools joke that has come one day late and it's a gift to the banks. Think of it this way. Fair value accounting is the only way that lenders, depositors and sha...
Revisiting FAS 157, Again
in Bizinformer, on April 2, 2009
...t rule (just softened) meant that it was valued at fire sale prices. The problem now is how to keep banks from going back to what Forbes called "mark-to-fiction" prices that lead to bubbles ...
Bailouts total $3 trillion with no oversight
in Sox First, on April 2, 2009
...an entire agency or three just to stop the US financial system from going up in smoke, and that the banks had shown no interest in disclosing how they were spending taxpayers' money. Barofsky sai...
Marker that Predicts Breast Cancer Metastasis
in The Biotech Weblog, on March 28, 2009
...and the endothelial cells that line vessel walls. To confirm this finding in humans, Drs. Jones and Robinson developed a triple immunostain for human breast cancer samples that simultaneously labels t...
Novell Intros SLE 11
in HackITLinux, on March 27, 2009
... lets firms build Linux clusters to maintain business continuity," writes VNUnet's Daniel Robinson . "Available from the second quarter of 2009, it consists of various tools including D...
A good crisis for George Soros
in Sox First, on March 26, 2009
...e the dumping ground for toxic assets. What they should be doing, he says, is capitalizing the good banks. "What they propose currently is creating this aggregator bank which will take the toxic ...
US dollar under fire
in Sox First, on March 24, 2009
...from The Wall Street Journal writes, nothing is going to change in the short term because central banks around the world hold more U.S. dollars and dollar securities than they do assets denominated ...
Why Geithner's plan won't work
in Sox First, on March 23, 2009
...surance Corporation, and of course money from private investors, to create a fund that will buy the banks' so-called "toxic assets". It will cost $500 billion with the "potential to...
Executive pay and shareholder greed
in Sox First, on March 23, 2009
... Tribune reports that Barack Obama is about to give itself increased oversight of executive pay at banks and Wall Street firms. The new rules, it's said, are likely to tie pay more closely to per...
AIG witch hunts: the new McCarthyism
in Sox First, on March 21, 2009
...eople aren't criminals and to attack them at a time when the US is pouring billions into zombie banks and financial institutions is missing the point. The ghost of Joe McCarthy has returned, in ho...
Global recession: no co-ordination, no end.
in Sox First, on March 20, 2009
...ther fiscal stimulus but they can't agree on whether there should be more rigorous controls on banks. The Europeans are going for welfare spending to kick start their economies. As Dutch Prime Min...
Accounting reshuffle
in Sox First, on March 19, 2009
...s Board with a "systemic regulator" who would do all the standards and set the rules. The banks have a real problem with independence. And they have friends in high places. Which is why Demo...
Squeezing accounting independence
in Sox First, on March 18, 2009
... putting the heat on the International Accounting Standards Board to change the rules and let the banks hide their losses. The trouble is the IASB has already compromised its independence and could ...
The bear is bouncing
in Sox First, on March 14, 2009
...damentals. This is a bounce, not a rally. We still have the problem of the credit crisis and zombie banks, now combined with inefficient governments building up unsustainable deficits. It's tempor...
Interview with Warren McGregor, IASB board member
in Sox First, on March 11, 2009
... FIRST: Last year, the IASB got rolled by the Europeans and was forced to change the rules to help banks avoid taking a hit. Are you still coming under pressure? MCGREGOR : It's still happening...
Bank nationalisation on its way
in Sox First, on March 6, 2009
...
Whether you call it restructuring or nationalization, it's a play on words. The banks will have to be taken over to restore them back to health. As Financial Times columnist Martin Wolf say...
Don't count on China
in Sox First, on March 5, 2009
...;s required to drive its exports. And no-one is expecting that to happen and until the US fixes its banks and property market, there will be no rebound. as 24/7 Wall Street points out, China will go...
Supply chain video: Managing Supply Chain in a Tough Economy (Part 2)
in Supplychainer, on February 28, 2009
...lationship.
Handfield discusses that the same pattern is observable on the demand side. Many banks don't give line of credit to small companies, not because they have problems but because t...
James Galbraith: Obama not solving the financial crisis
in Sox First, on February 27, 2009
...ffer. And any turnaround would be a long way down the track. "In this situation, stuffing the banks with money will not change their behavior,'' Galbraith said. "Bank chiefs have ma...
Auto catastrophe
in Sox First, on February 27, 2009
...se-diving . No doubt, the US Government will continue bailing out the auto industry. But until the banks start lending again, the car makers will continue to bleed badly. And cost US taxpayers billio...
Blind over-optimistic analysts
in Sox First, on February 27, 2009
...ure loan losses. And yet macroeconomic assumptions for the test only go out to 2010. Trouble is the banks have got used to a low unemployment environment. Now for the kicker: if unemployment stays abo...
The vagueness of Obama
in Sox First, on February 26, 2009
...t too short on detail. As CFO.com reports , it was just too vague on important issues like how the banks are going to start lending again and what's needed to make them do it. And there are still...
The Bernanke-Obama dance
in Sox First, on February 25, 2009
...rnanke's extraordinary comments that the US government is not seeking outright control of the banks. No sir, he says, it's not nationalization, it's a partnership. So there's heavy g...
Another step to nationalization?
in Sox First, on February 24, 2009
...
Is Obama clearing the way for the nationalization of US banks? Look carefully at the joint statement put out this week by Treasury, FDIC, OCC, OTS and the Federal Reserve. "Any government...




