Monetary System

Below are the latest writedown stories from the web. For the full timeline of news, visit my credit crisis timeline.2008 06 23 Citigroup and Goldman Sachs cut more staff as effect of credit crunch lingers2008 06 26 Fortis launches urgent…

$1.6 trillion! This is the figure that a Bridgewater Associates study has come up with. I caught this article when I was looking for the original German-language version of a story that MarketWatch exposed regarding the Swiss banks' need…

This is a big story coming from the Swiss German-language paper Sonntagszeitung. I originally saw this story in a derivative report from MarketWatch and then again at Calculated Risk. It's not getting enough play as yet in the…

UBS has announced that it expects further massive hits from the credit crisis and subprime meltdown to affect its quarterly earnings to be released soon. However, after raising a huge amount of equity capital, the company is…

Monetary policy has never been so interesting. With price increases in food and energy causing upheaval around the globe, citizens of the world are crying out for policy makers to get a handle on inflation. Yet, the global banking system…

Update 4 Jul 2008: see a fuller answer to this question at my new post: The ECB is right and the Fed is wrongThat's the question Ambrose Evans-Pritchard addressed in his blog yesterday. I am firmly in the deflationist camp, meaning…

Fortis, the Dutch-Belgian banking giant under pressure to shed assets because of the credit crisis, has disposed of part of its ABN Amro acquisition. Deutsche Bank has acquired the assets for 709 million Euros, according to a report in the…

As the financial sector melts down, one wonders which institutions are the safest: smaller local banks, money center banks, super regionals, credit unions. Credit unions are certainly something to think about because they offer high rates…

From the Wall Street Journal: Florida Sues CountrywideThe Florida attorney general has filed a lawsuit against Countrywide Financial Corp. and its chief executive, Angelo Mozilo, alleging that the company engaged in deceptive and unfair…

The following are the links regarding the global credit crunch that have been recently added to the Credit Crisis Timeline. The full timeline is accessible hereLatest Additions2008 06 18 Subprime Losses Top $396 Billion on Brokers'…