Damn't man give some strand of hope I can cling to ;D
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Damn't man give some strand of hope I can cling to ;D
He's a politician that's what they do....and then they count on people not to call them on it.Quote:
Originally Posted by Kirkland Laing
Bipartisanship, ending pork barrel spending, transparency in government...etc etc etc.
Nothing will come of them. Universal healthcare is coming to the US...it's going to suck big time, I'm the first guy to say the healthcare system isn't perfect but nationalizing it won't help ANYONE.
4/2/09
EU - Interest rate announcement
Actual 1.25%|Forecast 1.0%|Previous Month 1.5%|Previous Year 4.25%
The European Central Bank (ECB) decision on short term interest rate. The decision on where to set interest rates depends mostly on growth outlook and inflation. The primary objective of the central bank is to achieve price stability
ECB: Key interest rates
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G-20
April 2 (Bloomberg) -- World leaders agreed on a regulatory blueprint for reining in the excesses that fed the worst financial crisis in six decades and pledged more than $1 trillion in emergency aid to cushion the economic fallout.
The Group of 20 policy makers, meeting in London, called for stricter limits on hedge funds, executive pay, credit-rating firms and risk-taking by banks. They tripled the firepower of the International Monetary Fund and offered cash to revive trade to help governments weather the turmoil resulting from the surge in unemployment. They avoided the divisive question of whether to deliver more fiscal stimulus to their own economies.
G-20 Backs Regulation Crackdown, $1.1 Trillion Aid (Update3) - Bloomberg.com
are they going to get rid of direvatives?
No, but they claim they're going to regulate them. We'll see how much regulation they end up managing to legislate.Quote:
Originally Posted by VanChilds
The economy is so bad......
A hooker asked me to borrow $100 till she can get back on her back!
4/6/09
Canada - Ivey PMI Index
Actual 43.2|Forecast 46.7|Previous Month 45.2|Previous Year 58.0
The Ivey Purchasing Manager's Index (PMI) determines the activity level of purchasing managers in Canada.
Any reading above 50 indicates expansion, while a reading below 50 indicates contraction. It gives an indication about the health of the manufacturing section and production growth in Canada.
Kirk,
Can you describe the "Sweden Solution" in regards to banking in layman's terms? Specifically, what is a bank's level three and what is meant by writing down a loan?
Sweden had a bunch of insolvent banks so it took them over, wipred out the existing shareholders and bondholders, converted the debt owed by these banks after assets had been accounted for into equity (new shares) and sold the shares to new investors who then owned the new cleaned-up banks.Quote:
Originally Posted by VanChilds
edit : This explains it well and briefly :
http://www.nytimes.com/2008/09/23/bu...s/23krona.html
Level three assets are stuff that is difficult to value and are generally valued by the bank's own financial models. A financial model is basically a computer simulation designed to represent the earning performance or value assets within certain economic parameters.
If you bought an asset for a hundred dollars but the market subsequently only values it at fifty, then you'd write down your asset to fifty to reflect market value. Or if your asset was dodgy mortgage securities you'd tweak your financial model to claim that property prices were going to rebound in a few months and then not write down your asset at all.
May 15 (Bloomberg) -- Treasury Secretary Timothy F. Geithner expressed confidence that Europe will resolve the debt crisis buffeting the region and said the U.S. economy is strong enough to withstand any fallout.
Geithner Sees Europe Managing Crisis Without Fallout for U.S. - Bloomberg.com
EDIT: This post for future reference.