banks

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.…

FT Alphaville has a post up indicating that the UBS EMEA economics team is much more sanguine about prospects in Eastern Europe than many market participants. The most important part of the UBS contents reads as follows: We don’t normally…

Below is a very good video called "Inside The Meltdown" about the credit crisis which appeared on PBS FRONTLINE last night. This is must viewing for everyone. The clip runs just under one hour.

This morning, Commerzbank, based in Frankfurt, Germany, released earnings, showing a loss of 809 million euros, which was better than expected. Shares are rallying in European trading as a result. However, the big news was the draconian…

The results of my poll are back and  according to readers we are clearly in Depression.  A plurality of you voted for depression with a small 'd,' edging out those who see Depression with a Big  'D.' I agree with this assessment as I…

The video below gives an excellent view into the issues affecting European banking. Tom Keene, who is Bloomberg Radio's editor-at-large, sees the International Monetary Fund (IMF) as the ultimate solution to the problems in Eastern Europe.…

Below is my translation from an excerpt in the Swiss newspaper NZZ: In 2008, the lucrative business with loans to U.S. students came to an abrupt end. Today, UBS sits on paper that could still be worth $8.4 billion - or less. The collapse…

After Iceland collapsed and went into Depression, there were a number of reports in the press regarding countries with outsized financial sectors. The worry was that the collapse of Iceland was not an isolated incident, but rather a…

Just a few hours ago, I posted an article about European toxic asset exposure based on a Telegraph article.  The crux of the Telegraph piece was that European banks have a shed load of bad debt on their books.  A secret European Commission…

If you had read the Telegraph on February 12, you would be inclined to believe there might be even more toxic assets on European bank balance sheets than on American bank balance sheets. However, anyone who read the Telegraph later would…