Monetary System

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 here2008 06 09 Lehman Brothers to post $3 bln loss; sets $6 bln stock sale2008 06 09…

Banco Santander, to date, has looked very robust as a financial institution in weathering the credit crisis. Despite significant exposure to bubble markets Spain and the UK, the company has not been required to write down a large amount of…

The word on the street is that Lloyd's TSB, one of the major British banks not hit hard by the mortgage crisis, may be considering a bid for Germany's Dresdner Bank, now owned by the insurance company Allianz. If this sale does in fact…

For those of you who have been reading my blog for some time, you'll know that I believe deflation is the longer term threat to the global economy despite the temporary inflationary pressures. However, I did believe that the Federal…

You kind of saw this one coming. Bank of America is crazy to take Countrywide Financial's balance sheet onto its books. Apparently, S&P Equity Research agrees and correctly downgraded BofA to a sell rating because of the risk. Note:…

You probably heard about Morgan Stanley's financial results this past week -- not stellar. What most people seem to be buzzing about is that a rogue trader cost the bank $120 million. The trader has been suspended pending further…

See Bloomberg News story here and Bloomberg's running tally on my blog here.Related Posts and articles:Loss EstimatesPaulson & Co. Says Writedowns May Reach $1.3 Trillion, Bloomberg 18 Jun 2008

That's the question RBS is asking. In recent research, Bob Janjuah, the bank's credit strategist, advises clients to move to safety in anticipation of potential market volatility. The crux of the matter is inflation and central bank…

According to Reuters, a Goldman Sachs industry analyst team led by Richard Ramsdenhas issued a report suggesting that global financial institutions are short an additional $65 billion of capital. Banks have raised over $300 billion in…

and cut dividend. Regionals across the country are now suffering. The second leg down for financials has truly begun. I warned on Fifth Third this past Thursday in What's happening at Fifth Third? See new story here. Update: 9:19 EDT…