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Trade-Exchange Rates

  • DBS to inject emergency funds into CDO instrument
    29 August 2007 par (Open-Publishing)

    DBS to inject emergency funds into CDO instrument
    Tuesday, August 28, 2007 HONG KONG: DBS, Singapore’s largest bank, said Monday that it would provide emergency liquidity for an asset-backed financial instrument worth 1.4 billion Singapore dollars after investors withdrew support due to volatile credit markets, making it the latest Asian bank to declare unexpected exposure to the U.S. subprime mortgage crisis.
    DBS said in a statement that it had not previously defined its obligations (…)

  • Iraqi insurgents taking cut of U.S. rebuilding money
    28 August 2007 par (Open-Publishing)
    4 comments

    Iraqi insurgents taking cut of U.S. rebuilding money
    Hannah Allam | McClatchy Newspapers
    last updated: August 26, 2007 10:59:35 PM
    BAGHDAD — Iraq’s deadly insurgent groups have financed their war against U.S. troops in part with hundreds of thousands of dollars in U.S. rebuilding funds that they’ve extorted from Iraqi contractors in Anbar province.
    The payments, in return for the insurgents’ allowing supplies to move and construction work to begin, have taken place since the (…)

  • BILLIONS IN PUT OPTIONS BETTING THAT THE MARKET WILL CRASH BY 9-21
    27 August 2007 par (Open-Publishing)
    3 comments

    You can see why banks are running scared...they know the bottom can fall out at any moment. I’d suggest keeping minimal deposits in banks and holding on to cash.
    ANOTHER HUGE SALE OF OPTION CONTRACTS
    Date: Fri, 24 Aug 2007 19:43:25 GMT
    Good Morning Everyone,
    OTHER THAN THE EXPECTED FINANCIAL ANNOUNCEMENTS, ANYBODY HAVE A CLUE AS TO WHAT THESE ’INVESTORS’ ARE EXPECTING?
    ****************************************************************
    THEY DID IT AGAIN. . . . ANOTHER HUGE SALE OF (…)

  • DADDY, WHERE DOES MONEY COME FROM?
    25 August 2007 par (Open-Publishing)
    2 comments

    by Carolyn Baker
    The U.S. government is on a ’burning platform’ of unsustainable policies and practices.
    David Walker, U.S. Comptroller General
    Anyone who hasn’t watched "Money As Debt," an animated DVD by Paul Grignon, should consider purchasing this extraordinary explanation of money’s origin in an economy totally dependent on debt. Almost everyone has seen footage of federal printing presses cranking out paper money, and some of us have even visited a government mint or two and have (…)

  • FED bends rules to help two big banks
    25 August 2007 par (Open-Publishing)
    2 comments

    If the Federal Reserve is waiving a fundamental principle in banking regulation, the credit crunch must still be sapping the strength of America’s biggest banks. Fortune’s Peter Eavis documents an unusual Fed move. FORTUNE Magazine
    By Peter Eavis, Fortune writer
    NEW YORK (Fortune) — In a clear sign that the credit crunch is still affecting the nation’s largest financial institutions, the Federal Reserve agreed this week to bend key banking regulations to help out Citigroup (Charts, (…)

  • THE JOYRIDE THAT WAS THE AMERICAN EMPIRE
    24 August 2007 par (Open-Publishing)
    1 comment

    By Carolyn Baker
    A few days ago a friend called me just after hearing Michael Panzner on the Thom Hartmann show on Air America. My friend wanted me to read Panzer’s book, Financial Armageddon and see what I thought. Apparently, Panzer’s radio interview remarks were filled with passion and a sense of urgency, and upon reading the book, I experienced the same intensity in the author’s writing which pleasantly surprised me. Here was a financial guru with 25 years’ experience in the stock, (…)

  • Job losses spike as US mortgage firms feel downturn
    23 August 2007 par (Open-Publishing)
    1 comment

    Job losses spike as US mortgage firms feel downturn
    08-22-2007, 17h43
    WASHINGTON
    A foreclosure sign sits in front of a home, March 2007 in Miami. Mortgage industry layoffs rose Wednesday and have jumped dramatically of late as surging home foreclosures and a credit squeeze force home lenders across America to scale back business.
    Mortgage industry layoffs rose Wednesday and have jumped dramatically of late as surging home foreclosures and a credit squeeze force home lenders across (…)

  • Put moratorium on foreclosures, state consumer coalition advises
    22 August 2007 par (Open-Publishing)

    Put moratorium on foreclosures, state consumer coalition advises
    By Steve Lawrence
    August 22, 2007
    SACRAMENTO – Consumer advocates yesterday called for a moratorium on home foreclosures, warning that California is facing a tidal wave of foreclosures over the next year as more homeowners are hit with payment increases brought on by subprime loans and risky mortgages.
    “The curve is really starting to go up,” said Alan Fisher, executive director of the California Reinvestment Coalition, (…)

  • CLASS ACTION SUIT AGAINST COUNTRYWIDE FINANCIAL CORPORATION:
    22 August 2007 par (Open-Publishing)

    CLASS ACTION SUIT AGAINST COUNTRYWIDE FINANCIAL CORPORATION:
    Join this Action LERACH COUGHLIN STOIA GELLER RUDMAN & ROBBINS LLP FILES CLASS ACTION SUIT AGAINST COUNTRYWIDE FINANCIAL CORPORATION
    August 20, 2007 – Lerach Coughlin Stoia Geller Rudman & Robbins LLP (“Lerach Coughlin”)
    http://www.lerachlaw.com/cases/countrywide/
    today announced that a class action has been commenced in the United States District Court for the Central District of California on behalf of (…)

  • Top Swiss banker attacks US lending standards as ’unbelievable’
    20 August 2007 par (Open-Publishing)

    By Ambrose Evans-Pritchard and Yvette Essen
    Switzerland’s top banker has warned of massive losses from the unfolding credit crisis, describing the collapse in US lending standards as "unbelievable".
    Jean-Pierre Roth, president of the Swiss National Bank, said market turmoil was far from over as tremors from the sub-prime debacle continued to rock the world.
    "We’re certainly not at the end of the story. There are question marks surrounding the development of the American economy," he (…)