Monday, November 21, 2011

@AllAmerInvest Sovereign Risk Spreading, Undermine Occupy Movement, Bonus Bucks, Global Debt, Medicare Doink, Stocks Doink


Consider that at least 50% of each EMU member’s sovereign debt is held by the non domestic sector, and that 85% of claims against sovereigns of the Euro area are held by residents of the area itself, mostly highly integrated and levered financial institutions. Similarly, the risk of an exit from EMU of any of its constituents would result in the breakup of an irrevocable international agreement, with grave ramifications for the system of payments. No wonder banks around the Euro area are selling government securities and depositing the proceeds with the ECB, as Jernej Omahen has recently documented.
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Bank Lobbyists Outline Attack On Occupy Wall Street To 'Undermine' Protests
One high profile DC lobbying group has pitched the American Bankers Association (ABA) to launch an $850,000 campaign to discredit the Occupy Wall Street (OWS) movement, and smear politicians sympathetic to the cause.

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CNBC Bonus Bucks Answers, Monday, November 21

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FTSE falls as global debt woes dent growth outlook
* U.S. fails to agree debt package, Moody's warns on France
* Banks fall on debt fears, Espirito cuts RBS to "neutral"
* Credit Suisse sees EPS falling in Europe in 2012

EU study: Eurobonds best way out of crisis
The European Commission, the EU executive, believes that the joint issuing of eurobonds by the 17 euro nations would be the most effective way to tackle the financial crisis, according to a draft paper seen Monday.
The study by the European Commission, the EU's executive branch, will be presented Wednesday and could intensify a rift with Germany, which rejects eurobonds as a viable option at the moment because it would expose its taxpayers to weaker countries' bad debt. Germany already funds the bulk of the existing bailouts.

There Are No Quick Fixes For Medicare
There is no way to wrestle down the deficit without reining in Medicare costs. Ensuring that the program provides quality health care coverage to millions of older and disabled Americans is essential. These goals are not incompatible, but they require a judicious approach to policy making that is depressingly absent in Washington.

Stocks Down Chart

Original content Bob DeMarco, All American Investor