Economy Archives August 2012
Archives July 2012 →
Debt is never seen as a positive outcome, however there are times when someone’s incapacity to handle finances becomes wealth for others.
In June of 2012, Eric Bloom, former chief executive, and Charles Mosely, head trader of Sentinel Management Group (SMG) were indicted for stealing $500 million in customer secured funds. Both Mosely and Bloom were accused of “exposing” customer segregated funds “to a portfolio of highly risky derivatives.”
The Spanish government will wait at least until mid-September before requesting help from its European partners in order to properly assess what offers and under what conditions the European Central Bank (ECB), intends to use. This is what analysts at Goldman Sachs pointed to their clients.
The government led by Francois Hollande will offer subsidized employment to young people for periods that will vary between one and three years.
Meanwhile, financial publications forecast a Greece style rescue for Spain.
The European Central Bank will “supervise” 6,000 banks in the euro area, including savings banks and regional German public banks, but the degree of direct supervision may vary depending on the banks and the involvement of other regulators.
Even the best banker forecasts warn about an imminent economic Depression
Chinese don’t want to be overseen by US auditors
The vice president of the European Commission forecasts complete economic union by end of 2012.
U.S. regulators directed five of the country’s biggest banks, including Bank of America Corp and Goldman Sachs Group Inc, to develop plans for staving off collapse if they faced serious problems, emphasizing that the banks could not count on government help.
The storm that began in the U.S. five years ago, swept governments, banks and mortgage financiers.
A new report issued by the European Central Bank forecasts a downward trend in growth and similar inflation.
That is the result of big government-sponsored culture of dependency — give it and they will come — and that is why Obama intends to legalize all illegals as soon as possible.
Francois Hollande, the newly elected socialist president of France, looks set to achieve one of his main campaign goals and will impose a 75 percent tax rate on people earning more than $1.23 million per year, reports the Washington Post.
You are not going crazy. 23,884 billion euros is approximately what Spain’s debt will be in the short term should the country continue to adopt the European banking policies.
France has implemented –beginning today — a new financial transactions tax, a levy of 0.2% to be paid by investors whose shares belong to businesses with headquarters in the country.
The MERCOSUR alliance officially welcomed Venezuela as a permanent member.
Archives July 2012 →