Archive for September, 2007
IMF: Fallout from Global Financial Crisis Will be Long Lasting
September 25th, 2007Just as long as it’s economic fallout and not some other kind of fallout. Via: Independent: The global credit crisis is not over, and its effects will be long lasting, the International Monetary Fund has warned. The organisation’s twice-yearly Global Financial Stability report warned that many of the lax lending practices of the past few […]
Consumers Cutting Back on Restaurants
September 25th, 2007Via: AP: More than half of U.S. consumers plan to eat out less in the next three months due to jitters over declining home values, high gas prices and the overall economy, according to a survey by RBC Capital Markets. The survey of 1,000 people found that 54 percent of Americans said they would eat […]
Tapping Fiber is Easy
September 25th, 2007While some of the people who work aboard the U.S.S. Jimmy Carter might laugh at this, I think it’s pretty interesting. Via: Tech Republic: Copper cable has been known as the easily tapped physical transmission medium for years. Conscientious network and security managers either provided tight physical security for cabling or used fiber as an […]
Bank of England: We Don’t Understand the Markets
September 25th, 2007Via: Telegraph: The Bank of England is looking at improving the way it monitors UK credit conditions after admitting that the growing sophistication of the financial markets has made it more difficult to manage monetary policy. Bank of England governor Mervyn King speaking to the Commons Treasury Committee Mervyn King has come under increasing pressure […]
Bush, the Little Voice in Hillary’s Head
September 25th, 2007I’d be more curious about what Senior is whispering in her ear. The Clintons are decades long servants of the Bush Dynasty. What is thy bidding, my Master? Former President Bill Clinton bows to former President George H. W. Bush after he receives a honorary degree during the Tulane University Commencement in New Orleans on […]
U.S. Financial Institutions Involved with Three Week Bird Flu Pandemic Simulation
September 25th, 2007Liquidity problems? What liquidity problems? Via: AP: WASHINGTON Don’t be alarmed if your local bank teller is looking a bit sickly over the next three weeks. It is only a cyber-illness. Hundreds of banks and other financial institutions are participating in the largest test of its kind ever conducted to ensure the nation’s financial system […]
The Alchemy of Mezzanine-CDOs: “One of the Biggest Financial Illusions the World has Ever Seen”
September 24th, 2007Please review my Wall Street Chop Shop piece before you read this jaw dropping report below. I have a sneaking suspicion about which firm this is referring to because I think I used to work for them. I worked for one of the subsidiaries, out on the periphery. This account below sounds like it comes […]
Fear of a Dollar Collapse, Part II
September 24th, 2007Via: Seeking Alpha: As you can clearly see above (bottom left chart), the amount of MZM (repos) versus M2 during 2007 is enormous. This means that the Fed is “inflating” at a rate faster today than it did right after 9/11, or during the deflationary scare of 2003. As we asked Wednesday night, “What did […]
Cryptogon Reader Has Joint Account with Siblings, Can’t Diversity Family Assetts, Losing Money by the Minute
September 24th, 2007A Cryptogon reader is desperately trying to diversity her family’s assets, but the funds are held in a joint account with this person’s siblings who have no idea how dire the global financial situation is. Unless her siblings can somehow come to see how serious this situation is, the funds cannot be moved. The question […]
Northern Rock Still Lending ‘Recklessly’
September 24th, 2007Imagine my shock. Via: Times Online: Northern Rock stands accused of “reckless†lending after it emerged this weekend that the beleaguered bank is still offering mortgages of six times salary to potential borrowers. Despite provoking the worst banking crisis for decades, the bank last week offered a reporter posing as a first-time buyer a £180,000 […]
