European Institutions Resort to Potentially Risky Swaps to Generate Liquidity
European banks, increasingly concerned about their ability to access funding, are devising complex and potentially risky new deals that enable them to continue borrowing from the European Central Bank.
The banks' moves, which include behind-the-scenes swapping of assets among financial institutions, could heighten risk across Europe's already fragile financial system, say some senior industry officials and regulators.
Spanish, French borrowing costs climb, contagion builds
"The euro zone has got to deliver something which is going to calm markets down and at the moment markets feel like they are being given no comfort whatsoever," said Marc Ostwald, strategist at Monument Securities.
Spain sold 3.56 billion euros ($4.8 billion) of a new 10-year benchmark bond at an average yield of almost 7 percent, the most since the euro’s creation.
All American Investor
CNBC Million Dollar Portfolio Challenge Bonus Bucks Answers, Thursday, November 17
God bless income disparity
We celebrate income disparity and we applaud the growing margins between the bottom 20% of American society and the upper 20% for it is evidence of what has made America a great country. It is the chance to have a huge income… to make something of one’s self; to begin a business and become a millionaire legally and on one’s own that separates the US from most other nations of the world. Do we feel bad for the growing gap between the rich and the poor in the US? Of course not; we celebrate it...
TALES OF HYPERINFLATION: Here's What Germany's So Freaked Out About...
Well, for one thing, because the Germans will ultimately be footing the bill. (Germany's finances are in better shape than the rest of Europe's.)
And, for another thing, there are folks in Germany who still remember the hyper-inflation of the Weimar Republic after World War 1, when the value of the currency was obliterated.
Original content Bob DeMarco, All American Investor
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