Credit Writedowns

This comes from the Danish daily Berlingske Tidene. It suggests that Citibank is cutting back all international lending. Citigroup has sold its German operations to a French bank and I understand they are cutting credit lines in the UK as…

It is not just Eastern Europe and Switzerland where problems are popping up. This from the Berlingske Tidene, a Danish daily:

Meredith Whitney, the well-known former Oppenheimer analyst had some interesting words to say on CNBC about the banking sector, nationalization, dividends and Citigroup. Take a look.

It is looking like Saab is toast. This comes from Dagens Nyheter, a Swedish daily (note: I originally saw this covered in the Austrian daily Kurier):

Below are the main stories I wish to highlight. There are a bunch of others in the newsfeed. The return of capital controls - Willem Buiter's Maverecon Fed cuts U.S. growth view and considers inflation target | Reuters Bank of England…

Here is yet another post from early last year which presages all of the problems we are seeing today. As I have often written, the fake recovery is just an attempt to paper over these problems. It won't work. Where Ireland, Switzerland,…

The jobs picture is looking grim. Jobless claims for the week ending 14 Feb 2009 were 627,000, pushing the average to 619,000. Additionally, nearly 5 million people are staying on the unemployment roles, the highest figure ever. But, it…

This comes from Rueters Goldman Sachs Group Inc said several partners must cover margin calls triggered by the depressed value of Goldman stock and many of the firm's hedge funds, but the bank denied it is lending money to its executives.…

Yet another alleged case of massive fraud has been uncovered. This case is all the buzz in the financial sector. If the claims are proven true, fingers will point to the laissez-faire, deregulatory environment of the recent past as a…