Credit Crunch // Current

The Digital Coin and self-issued credit

A comprehensive & innovative proposal for a new system of sustainable economics.... more

sespian
added this
4 days ago
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0 comments

$8000 Tax Credit Extended, Unemployment Rises over 10%

$8000-tax-credit-extended-unemployment-rises

mikerowan
added this
15 days ago
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0 comments

Wisdom of My Elders

Economists and politicians didn't foresee the Great Recession of 2008, but my... more

mindswell_project
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1 month ago
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0 comments

Problem with Your Bank? Take it to YouTube!

Have you ever felt like David when going up against the Goliath that is most major... more

sunkisthappy
added this
2 months ago
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1 comment

Share The Pain

As we head into the deepest recession since the 14th century, a new report published... more

worldwrite
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2 months ago
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1 comment

Extravagant Dubai island project sinks under weight of the credit crunch

THE Galwayman who bought Ireland is dead, England is deserted, while Australia and New... more

Vierotchka
added this
2 months ago
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62 comments

Recession proofing your relationship

Are you tempted to check your partner's Credit Report before taking the plunge? And... more

Patience_34
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3 months ago
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0 comments

TV's 'Secret Millionaire' is not-so-secretly bankrupt!

Some fella that was on Channel 4's 'Secret Millionaire' is er, not such a millionaire... more

FreshPlastic
added this
3 months ago
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1 comment

What Wall Street bank is now the largest publisher in the world?

As media companies are forced to sell off assets to lenders, JP Morgan is buying them... more

sespian
added this
3 months ago
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1 comment

Toxic Loans Topping 5% May Push 150 Banks to Point of No Return

Is there about to be another round of bank failures? According to Bloomberg, if... more

tbowman131
added this
3 months ago
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3 comments

Poo! Cuba's run out of toilet paper!

It would appear that everyone's favourite communist country has run out of toilet... more

FreshPlastic
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4 months ago
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3 comments

Five-year-old beats adults at the stock market - oh, and she's a parrot!

'Strawberry', a female parrot aged five, has proven herself to be a better investor... more

FreshPlastic
added this
4 months ago
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3 comments

New Scam Alert: Nigerian Online Rental Ads

In a new twist on the Nigerian email scam, online rental ads are soliciting potential... more

IlyceGlink
added this
4 months ago
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2 comments

Devon bloke offers £100k reward, Range Rover and speedboat to anyone who'll buy his house

Wealthy Jonathan Blain's 200 year old home The Bakehouse near Totnes in Devon is just... more

emmahill
added this
4 months ago
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0 comments

A song for our credit crunch times

Heres a video I did of my friend lauren derwent and her fantastic band, performing... more

HighAltitudeFilms
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4 months ago
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0 comments

Government of the Dead: Bonuses Are Back Pig Party

Friday 17 July 2009: Political street theatre group Government of the Dead too kto the... more

JasonNParkinson
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4 months ago
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0 comments

Coca Cola CIO is set to highlight the need for better communication to weather the storm

Esat Sezer, SVP & CIO for Coca Cola Enterprises, has confirmed attendance as the keynote speaker at the CIO Summit US, one of the most important meetings this year for America’s top CIOs.

The summit, which will be held from September 8-10 in Scottsdale, Arizona, has been highlighted as a vital meeting place for all major companies across the US and their CIOs to discuss future investments in order to create an economic upturn for America.
In today’s world, corporations such as Coca Cola Enterprises have the financial reserves to weather the economic climate with the ability to increase their spends over the next year. Stability in US markets are vital during the last quarter of 2009, and we need to see the major players in business come together to execute and promote their companies, creating vital partnerships and investments with each other in order to steer the nation out of any further economic decline.

Sezer is set to highlight the need for better communication, internally and externally, referencing to Coca Cola Enterprises’ 6 month migration to SaaS, and the benefits this has drawn from its increased Employee Productivity and essential Cost Management. He will be joined by impresarios such as Rajesh Rawal, SVP & CIO of Burger King Corporations, Cassio De Oliveira, VP & CIO of Panasonic Corporation of North America, Mike Goodwin, SVP & CIO of Hallmark Cards, Inc., and Paul Johnson, EVP & CIO of BB&T, amongst 50 other visionaries at the meeting in September.

The unstable nature of the climate requires forward-thinking and visionary executives who operate and make decisions outside the vacuum of directors. It is vital that to stabilise the economy, America needs to look towards its large corporations which span over a wide spectrum of markets for quick decisions that will hopefully create an uprise.
Ironically, the world is now relying on companies like Coca Cola and Burger King to help shape its economy – how did we arrive at a place where unhealthy junk food corporations could be the answer to the world’s economic crisis?Esat Sezer, SVP & CIO for Coca Cola Enterprises, has confirmed attendance as the... more

JFunnell
added this
4 months ago
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0 comments

British Young 'depressed' about money

Debt, unemployment and repossession have all been concrete and visible effects of the... more

pcs007
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4 months ago
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1 comment

Department of Justice Launches Probe into Credit Derivatives

The anti-trust division of the Department of Justice has opened an investigation into the Markit Group over their role in the Credit Default Swap market. Let's hope something comes of this.

Who exactly is Markit Group? They provide pricing data on the CDS market and has developed many of the most closely-watched derivatives pricing benchmarks in it. And who are the shareholders in this group, which was set up in 2001? You guessed it: JPMorgan Chase, Goldman Sachs, Deutsche Bank, Bank of America and Morgan Stanley to name a few.

Just look at the graph linked to the story. From 2001, the CDS market grew from virtually nothing to over a $60 trillion market in only 6 years... Keep in mind, according to the World Bank, the GDP of the US in 2008 was $14 trillion and the GDP of the entire globe was only around $60 trillion. Looking at those stats, how was the size of the CDS market even possible?

Why do I have a feeling these banks were doing something wrong?

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"The Department of Justice has opened an investigation into the credit derivatives market, with letters sent to over a dozen dealers asking for several years’ worth of detailed information about trading and pricing.

The move comes as the regulatory spotlight continues to shine on the credit default swaps (CDS) market, a sector of the privately-traded derivatives universe that grew dramatically in the last decade and generated huge profits for Wall Street.

Initially devised as a type of insurance on defaults, the CDS market is widely blamed for amplifying the credit crisis as it became a means for institutions like AIG to place vast bets on corporate credit and mortgage debt.

The letters, sent to banks with an equity stake in Markit Group, which provides pricing data on the CDS market and has developed many of the most closely-watched derivatives pricing benchmarks in it such as the mortgage sector’s ABX, CDX and ITraxx Europe indices, were sent recently.

According to people who have seen the letter, it does not specify why the DoJ is seeking the information and whether it is a fact-gathering mission or linked to specific concerns of misconduct or market dominance.

It was sent by the anti-trust division of the DoJ. The DoJ declined to comment.

Markit said in a statement it “has been informed of an investigation by the Department of Justice into the credit derivatives and related markets. We will work with the Department to provide any information requested of us.”"

(Follow the link to complete the article)The anti-trust division of the Department of Justice has opened an investigation into... more

tbowman131
added this
4 months ago
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3 comments

Nine wacky ways to make money - plus a bonus!

lovemoney.com (via Yahoo!) lists nine "wacky" ways to make money - including this... more

FreshPlastic
added this
4 months ago
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0 comments

tagged w/ Credit Crunch

The Digital Coin and self-issued credit

$8000 Tax Credit Extended, Unemployment Rises over 10%

Wisdom of My Elders

Problem with Your Bank? Take it to YouTube!

Share The Pain

Extravagant Dubai island project sinks under weight of the credit crunch

Recession proofing your relationship

TV's 'Secret Millionaire' is not-so-secretly bankrupt!

What Wall Street bank is now the largest publisher in the world?

Toxic Loans Topping 5% May Push 150 Banks to Point of No Return

Poo! Cuba's run out of toilet paper!

Five-year-old beats adults at the stock market - oh, and she's a parrot!

New Scam Alert: Nigerian Online Rental Ads

Devon bloke offers £100k reward, Range Rover and speedboat to anyone who'll buy his house

A song for our credit crunch times

Government of the Dead: Bonuses Are Back Pig Party

Coca Cola CIO is set to highlight the need for better communication to weather the storm

British Young 'depressed' about money

Department of Justice Launches Probe into Credit Derivatives

Nine wacky ways to make money - plus a bonus!

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