Tag Archive for European Banks

Worst Case -Shock waves will destroy the world if Greece drops euro. What’s the best case?

Bankers, governments and investors are starting to prepare for Greece to stop using the euro as its currency, a move that could spread turmoil throughout the global financial system. The worst-case scenario envisions governments defaulting on their debts, a run on European banks and a worldwide credit crunch reminiscent of the financial crisis in the…

Congress hosts Dimonfest ass kissing orgy| guardian.co.uk| Audio from Marketplace

Exceprts from a blog post by Heidi Moore via Congress hosts Dimonpalooza with financial reform on the back burner | Business | guardian.co.uk.. There’s a reason wags called it “Dimonpalooza.” …The only notable absences were at the front of the room, where the Senators sat; several of their empty seats were testimony to the fact…

Businessweek’s “How Europe’s Contagion May Hit the U.S. Economy” Ignores its Benefits to US Economy

Businessweek argues that the European crisis is hurting the US economy. It ignores ignores the fact that European capital flight is driving US interest rates through the floor, and more importantly, directly funding US government deficit spending. Even a small reduction in that spending would result in a stall in the US economy. The US…

Spanish banks don’t need European rescue: PM – Full Story

Spanish banks don’t need European rescue: PM (via AFP) Spanish Prime Minister Mariano Rajoy said he did not believe that Spain’s banks would need rescuing by Europe. “I don’t think so,” Rajoy told journalists on Saturday after arriving in Chicago to take part in a two-day NATO summit, expressing surprise after French President Francois Hollande…