Largest Asian Bank Failures
Bank Run Rumors, Gold/Silver Soars & Obama's trip to AsiaMay 25, 2011
Video about rumors of a bank run, Obama's trip to Asia, the latest unemployment news, 42 million people on food stamps, bank failures gold prices rising and oil prices increasing. Economy Picks Up 151000 Jobs, Rate Steadies at 9.6% www.cnbc.com Oil hits six-month peaks on falling dollar, Fed move www.breitbart.com More working families getting government food aid www.google.com Labor Force Participation Rate Drops To 25 Year Low, At 64.5% www.zerohedge.com Canadian Unemployment Rate Down To 7.9%, But Economy Adds Few Jobs www.rttnews.com US Pending Home Sales Unexpectedly Drop 1.8% In September www.rttnews.com Pace of US bank failures not seen in 2 decades www.msnbc.msn.com Gold sets record; other commodities chalk up gains news.yahoo.com Oil above $87 in Asia, at highest since early May apnews.myway.com Obama leaves election wreckage for Asia www.google.com Obama: India creates, not poaches, jobs www.sltrib.com Harley-Davidson to build bikes in India articles.cnn.com No, Pentagon says, Obama will not be guarded by 34 ships www.google.com The Lone Dissenter: Thomas Hoenig Hits Seven blogs.wsj.com Obama announces trade deals with India worth billions www.msnbc.msn.com
Headline News, April 11, 2009Apr 25, 2012
Please follow the links below for the rest of the story .. Dramatic Pic Of Woman Attacked By Polar Bear Link to story .. news.sky.com 3 dead, 1 critically hurt in La. home invasion Link to story .. www.msnbc.msn.com 2 more banks fail, lifting this year's tally to 23 Link to story .. apnews.myway.com Colorado bank biggest US bank failure of 2009 Link to story .. www.breitbart.com Wildfires destroy 2 Texas towns, kill 2 Link to story .. www.reuters.com CIA Shuts Secret Prisons Under Obama Order Link to story .. news.sky.com Chinese drywall poses potential risks Link to story .. news.yahoo.com Pirates seize 10 Italians in US-owned tugboat Link to story .. www.alertnet.org Web Download Cheats Will Be Banned From Net Link to story .. news.sky.com Thai protesters force Asia summit cancellation Link to story .. www.reuters.com Eiffel Tower Closed As Staff Go On Strike Link to story .. news.sky.com SDRs - a new world reserve currency? Link to story .. www.moneyweek.com
13. Banking: Successes and FailuresMay 11, 2012
Financial Markets (ECON 252) Banks, which were first created in primitive form by goldsmiths hundreds of years ago, have evolved into central economic institutions that manage the allocation of resources, channel information about productive activities, and offer the public convenient investment vehicles. Although there are several types of banking institutions, including credit unions and Saving and Loan Associations, commercial banks are the largest and most important in the banking system. Banks are designed to address three significant problems in capital markets: adverse selection, moral hazard, and liquidity. Banks make money by borrowing long and lending short and use fractional reserves to lend more funds than are deposited. History has seen numerous problems in banks, including bank runs and insolvency. Government support and regulation, such as those implemented via the Basel Accord, as well as rating agencies help to ensure that investors trust the banks with which they have relations. 00:00 - Chapter 1. On Andrew Redleaf: Reaping Rewards from Opportunities 11:06 - Chapter 2. The Origin of Banks, from Goldsmiths to Commercial Banks 25:29 - Chapter 3. Why Banks Exist: On Adverse Selection, Moral Hazard and Liquidity 37:15 - Chapter 4. Rating Agencies: Do They Work? 44:08 - Chapter 5. The Ongoing Fragility of Banks and Structures of Bank Regulation 58:17 - Chapter 6. The Subprime Crisis in the US and in Europe Complete course materials are available at the Open ...
Video Dispatch: On the Economy, Tempered OptimismApr 14, 2012
STRATFOR : www.stratfor.com East Asia sends more signals that the economy is on an upswing, but worries linger over possible bank failures in the United States. Also, an update on US Secretary of State Hillary Clinton's talks in Moscow.
DBS Bank - This is Asia's TimeMar 30, 2012
War and turmoil in Middle East-North Africa have sent oil prices soaring. The triple tragedies of the earthquake, tsunami and nuclear reactor failures in Japan have shaken global equities. But DBS Chief Investment Officer, Lim Say Boon, believes the medium-term fundamentals in Asia ex-Japan remain solid amidst these troubles.
Get Rid of The Fed And Purge The SystemMay 12, 2012
omf.gd ←← You won't want to miss this high impact, edge-of-your-seat exposé of the men behind the wizard's curtain that pulled the strings on the global financial crisis and what you can do about it. =================================== [June 9, 2011] PODCAST CONTENTS ★ Bond sales from the US to Europe to Asia soared in May ★ Two big banks will pay $22 million in monetary relief for illegally foreclosing on active-duty soldiers. ★ The federal government added $5.3 trillion in new financial obligations in 2010.
Nouriel Roubini: Rapid economic recovery unlikelyJan 30, 2012
AEI Event: " The Deflating Bubble, Part VI: The Lessons of the Bubble and Crisis," Cosponsored by the Professional Risk Managers' International Association, October 22, 2009 www.aei.org Credit markets have recovered, although they still reflect massive government financial intervention. The financial panic of 2008 and 2009 has passed, though now bank failures are notably increasing. The net worth of the Federal Deposit Insurance Corporation is dropping, and estimates for its deficit are growing, but its obligations are ultimately US Treasury obligations. Average house prices seem to be stabilizing, but commercial real estate prices are dropping. Huge losses from the deflation of the great twenty-first-century bubble have been recognized or realized, and though more remain, financial markets have regained their appetite for risk. At this event, our expert Deflating Bubble panel defined the lessons of the whole twenty-first-century financial experience and made related recommendations for future financial policy. Speakers included AEI economists Desmond Lachman and John H. Makin; New York University professor of economics Nouriel Roubini; R. Christopher Whalen, managing director of Institutional Risk Analytics; and Thomas Zimmerman, managing director at UBS Investment Bank. AEI resident fellow Alex J. Pollock moderated.
Market Report - Asia Awaits Bailout PlanNov 05, 2011
CHAN: Asian investors remained cautious today with many waiting for fresh news on a US government proposed $700 billion dollar bailout for the ailing financial sector. Central banks across the region served up more cash and assurances to money markets gripped by fear of bank failures. Australia's central bank pumped extra funds into the local money market. Bank of Japan dished out nearly $30 billion in its first ever dollar supply operation. Hong Kong's monetary authority also added funds to the market, which remained unsettled by rumors that local lender Bank of East Asia was in difficulty. Bank of East Asia stock rebounded on Thursday but customers remained worried with many still queuing up to withdraw funds.
Ex-Im Bank Annual Conference 2011: From Small to Large: Growing Small Business through ExportsApr 05, 2012
Introduction: Irene Dorner, CEO and President, HSBC Bank USA, NA Moderator: Mike Hofman, Editor, Inc.com and Deputy Editor, Inc. Magazine Panelists: Howard Dahl, President, Amity Technology Peter Baranay, President, ABRO Industries John Baumstark, Chairman and CEO, Suniva Visit the Ex-Im Bank web site at www.exim.gov.
Who Will Pay the Bill?Feb 17, 2012
Follow us on TWITTER: twitter.com Like us on FACEBOOK: www.facebook.com WSJ reported lately, China's national debt to GDP ratio reached 80%. This doesn't include local governments' debts and the loans provided to stimulate economy. Experts said, national debts burdened China's economy. The regime printed money to resolve debts and non-performing loans, resulting in inflation. Eventually, Chinese people will end up paying the bill. The WSJ article published on June 21 said, the 1st batch of non-performing loans provided in 2009 will soon impact China's banking system. The CCP authorities are now considering who should be responsible for the RMB 2 to 3 trillion yuan non-performing loans. It also said, the scale of 2009 stimulation almost equals to that of the reorganization of 4 top China banks. Ironically, it's also similar to that of the 4 trillion economy stimulation plan in 2008. The article obviously irritated Beijing. On June 23, Xinhua News Agency quoted finance ministry's expert Bai Jingming's refute, saying it overestimated China's debts scale and potential risks. While recent reports from GaveKal Asia, a HK based research institute, said, China's national debt-to-GDP ratio leveled around 80% in the past 19 year. But in 2010, the ratio rose to 90%. The report also said that Chinese local governments' debts to GDP ratio has been higher than that of the US and Brazil. However, the report believes that China's ''closed financial system'' will not bring China into the ...
Lehman Brothers collapse. Sep. 15, 2008.Aug 26, 2010
Sep. 15, 2008. Global markets were reeling Monday after a convulsive day on Wall Street that saw a leading US investment bank file for bankruptcy and other institutes scramble to merge as the credit crunch claimed one of its biggest victims yet. Stock prices plunged in Asia and Europe in the wake of investment bank Lehman brothers announcing its collapse and Bank of America's $50 billion buyout of ailing brokerage Merrill Lynch. This crisis is clearly deeper than anybody had imagined only a short time ago," Peter Stein, an associate editor at the Wall Street Journal in Asia, told CNN. The Dow Jones Industrial Average fell 330 points or 2.9 percent to around 11091 in early trading. In Europe, FTSE index in London declined 3.37 percent while the Paris CAC 40 was down 4.47 percent. Major Asian indexes were closed but India's Sensex fell 5.4 percent, Taiwan's benchmark dropped 4.1, Australia's key index dropped 2 percent and Singapore fell 2.9. The turmoil followed a roller-coaster weekend for a Wall Street already concussed by woes at other major financial firms and mortgage-financing titans Fannie Mae and Freddie Mac. At one point the US Federal Reserve was forced to step in, announcing plans to loosen lending restrictions to the banking industry in an effort to calm markets, while a consortium of 10 leading domestic and foreign banks agreed a $70 billion fund to lend to troubled financial firms. In an effort to calm market jitters, the European Central Bank on Monday said ...
Bank Of England: US Faces Same Problems As GreeceJul 11, 2011
Mervyn King, Governor of the Bank of England, fears that America shares many of the same fiscal problems currently haunting Europe. He also believes that European Union must become a federalised fiscal union (in other words with central power to tax and spend) if it is to survive. Barack Obama and the other European leaders are not to happy with this statement. China gave Obama a stern warning in 2009 about the US irresponsible spending & taxing. This was during Obama's state visit to China. With the national debt nearing 13 Trillion Dollars. Just a couple months ago it was nearing 10 Trillion Dollars. Obama & our gov. continues to ignore warning signs from the markets, bank failures & from a country that we owe much of this debt to. Obama & congresses house of cards is soaked in gasoline & these socialist sons - daughers of a pig are playing with matches. Soon or later the house called America is going to catch fire. Moodys has already warned that the US credit rating is in jeopardy & could be lowered to AA from AAA. If Obama & congress do not get their act together & fast we will see a depression hit the US that will make the 1930s depression look small. It took WWII to get the US out of that depression. Do we have to wait & have WWIII to get out of an ObamaNation depression?Welcome America & The World - I am ObamaStein. I comment and talk about things that I have strong feelings about. If you have a problem with my views, my criticizing someone or anyone else, if you ...
Lehman Brothers Collapse. How Far Will it Go? Sep. 16.Mar 27, 2012
Sep. 16, 2008. TOKYO, Japan — Japans culture and language is nearly always restrained and polite. So when an economist today told me grimly, This is very, very bad, I knew, indeed, this was a seismic shift in the entire global economy. Markets across Asia have dropped all day and are still falling (we are still in the middle of the trading day as I blog). Two of Lehman Bros. biggest creditors, based in Japan, led the steepest market decline by Japanese banks since 1987s Black Monday. Yes, this was a very, very bad day in trading, but economists widely agree that Japans banking system will ride out this storm and manage exposure to Lehmans bankruptcy. What is the bigger concern in Tokyos financial sector is what this meant to the companies you and I buy from: Toyota, Nintendo, and Sony, just to name a few. Japan and China are export-driven economies, feeding the consumer demand from the United States. If the financial sector continues to suffer, they reduce loans to consumers. Consumer confidence overall, as this bad news continues, plummets. The impact is that Bob and Betty Ruth in Atlanta, Georgia, pass on buying the new Wii and Prius, affecting the bottom line of Japans leading companies and overall economy. And economists say that impacts Japans export driven economy far worse and for far longer than even the crippling of a 158 year old Wall Street institution. A very, very bad day, indeed, but if US consumer spending erodes further, says many Japanese economists, the ...
Power Plant Substation ExplodesMay 18, 2012
On August 17th 1993, the Ives Dairy Substation in Miami, Florida experienced a total system failure. It started with the simple failure of a capacitor bank (a piece of equipment used to regulate power spikes and momentary drops coming off the main power grid in to one smooth consistent electrical current before being distributed to customers). Unlike a Transformer (which will increase or decrease the amount of voltage put in to it by a percentage) a Capacitor is like a bucket with a faucet. The bucket part of the capacitor can hold a certain amount of incoming power like a buffer, while the faucet part of the capacitor will only let a precise amount of power through. This way, as other cities pull more power from the grid and then drop their usage over and over, all this constant fluctuation of the grid is smoothed out by the capacitor banks before the electricity gets sent out to customers. Without it, peoples home electronics would be turning off or dimming one second, and the next second a bunch of people in another city would turn off their air conditioners (or what have you) and that sudden surplus of power on the grid would then fry your computer or TV or burn out your light bulbs, etc. By running the power through those capacitors, there's a place for excess power to go and a place to draw power from (the bucket), while the output (faucet) only lets the correct amount of power through. So anyway, a huge power surge on the Miami grid fried one of the capacitor banks ...
Daily Forex News Recap (1/6): Euro Pressured on Sovereign Debt ConcernsJan 06, 2011
Get more news and analysis at fxtimes.com Summary The Euro was pressured today as the European Commission said it would go through with having senior bondholders take some kind of cost in a any bank failure. Any talk of haircuts has hurt the EUR. We look at the EUR's slide and at US jobless claims, and some consolidation in USD pairs ahead of NFP. Partial Transcript: Sovereign Debt Worries Resurface The European Commission will continue today with a plan to spread the cost of bank failures to senior bondholders, the Daily Telegraph reported. The EU may give regulators power to block new products and limit trading risks at banks deemed too big to fail, as part of plans to protect public finances from future financial crises. We know that any talk of haircuts for creditors is bad news for the EUR. China to Buy $7.9 bn of Spanish Debt Second development, Chinese Vice Premier Li told Spanish Prime Minister Jose Luis Rodriguez Zapatero during a meeting in Madrid on Wednesday that China "was willing to buy as much Spanish debt as its Greek and Portuguese debt holdings combined, that is some six billion euros ($7.9 billion)," it said. Spain's central government must raise about Euro 170 billion this year on top of Euro 30 billion by the country's regional government's according to debt ratings agency Moody's. The market fears that creditors will ask for higher yields and we could have another situation in which a loan rescue deal is needed like the ones we had for Ireland and ...
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