The Wall Street Journal reports, Just over 80% of Greece's private-sector creditors had agreed by a Thursday evening deadline, to turn in their bonds for new ones, with less than half the face value, touching off a massive debt swap, that marks a seminal moment in Europe's long-frustrated efforts, to rescue its most financially vulnerable nation. The Greek government announced the results of its proposed restructuring early this morning. The announcement, that the restructuring will go ahead, precipitates the largest-ever sovereign-debt default, and the first for a Western European country, in half a century. The Wall Street Journal also reports, job growth in the US continues to improve. US job creation remained solid in February and was stronger in previous months than initially thought, marking one of the economy's best stretches of the nearly three-year-old recovery. Jobs outside of agriculture grew by 227000 last month and employers added 284000 jobs in January—roughly 40000 higher than an initial estimate. Overall, the economy has added an average 245000 jobs over the past three months—more than double the pace of job creation between May and November. The unemployment rate, obtained by a separate survey of US households, remained at 8.3%, as both hiring and the number of job seekers increased. Bloomberg reports, the London Stock Exchange rallied the most, in more than eight months, after agreeing to buy a majority stake in LCH Clearnet Group Limited, for 463 ...

click to view By: CorporateProfile
Duration: 2.88 min.
Views: 142
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• Judge Rakoff signs off on Bank of America (NYSE:BAC) settlement with SEC • Intel (NASDAQ:INTC) admits that it was the target of a cyber attack in January, around the same time Google (NASDAQ:GOOG) was attacked by Chinese hackers • Xerox (NYSE:XRX) sues Google (NASDAQ:GOOG) and Yahoo (NASDAQ:YHOO) over violations of patents related to internet search • RR Donnelley & Sons (NYSE:RRD) acquires Browne (NYSE:BNE) for $481 million • Fed President Bernanke stresses once again the fed funds rate "is likely to remain exceptionally low for an extended period" • Toyota (NYSE:TM) President Akio Toyoda apologizes to Congress for the company's safety issues • Coca-Cola (NYSE:KO) acquires North American bottling operations from Coca-Cola Enterprises (NYSE:CCE) • Brookfield Asset Management (NYSE:BAM) pledges $2.63 billion to help General Growth Properties emerge from bankruptcy earlier than expected, also allowing the company to spurn Simon Property's (NYSE:SPG) bid • AIG (NYSE:AIG) reports $8.87 billion loss and says it will repay government by asset sales and insurance business cash generation • GE (NYSE:GE) agreed to sell its Hong-Kong consumer finance business to Standard Chartered Bank in an effort to reduce debt

click to view By: TradeTheTrend
Duration: 1.48 min.
Views: 1043
Rating: 5.0

Financial shares defied market gravity and moved higher Monday on good company news. Earlier in the day, a federal judge conditionally approved a proposed $150 million settlement between the SEC and Bank of America. Also, Monday, Federal Reserve Bank of San Francisco President Janet Yellen said the US economy will operate below potential this year and next. She said the economy still needs low interest rates in order to gain strength. Worries about Greece's debts persist. The country reportedly arranged swap agreements with about 15 securities firms, including some payments from banks that may have helped hide the true extent of its deficits.

click to view By: TradeTheTrend
Duration: 1.05 min.
Views: 32
Rating: 5.0

LaRouche: It's The Derivatives, Stupid! Derivatives: The Hyperinflationary Bomb Crushing The International Financial System October 9, 2008 (LPAC)--Lyndon LaRouche today mocked Treasury Secretary Hank Paulson's bailout scheme, warning that Paulson and all the other central bankers have been lying through their teeth about their ever-changing so-called bailout swindles. The real problem, that none of them wish to talk about, is the mass of derivatives obligations, that are in the quadrillions of dollars. LaRouche called the derivatives bubble the hyperinflationary bomb, crushing the international financial system, warning, Until you just shut down the whole derivatives trade--wipe these gambling obligations off the books of the financial system--you are just kidding yourself. LaRouche declared, It is time to break the silence on derivatives. The true, hyperinflationary factor in the situation is the unregulated, insanely leveraged derivatives trade. This is what is killing us. This is the great crime of Alan Greenspan. According to the most recent data, released June 30, 2008 by the Office of the Comptroller of the Currency, the three largest American bank holding companies, JP Morgan Chase, Bank of America and Citicorp, had current outstanding derivatives contracts, totaling $179.4 trillion dollars. The three banks combined have total assets of just under $5.6 trillion! As of Dec. 31, 2007, according to the Bank for International Settlements, the total over-the-counter ...

click to view By: MayaGudrun
Duration: 5.15 min.
Views: 8626
Rating: 4.8297873

www.millionairecorner.com Greek debates continue without a final deal. Leaders head to meeting with European leaders. ARTICLE | THU, 02/09/2012 - 06:15 | BY CATHERINE MCBREEN Greeks to attend meeting with EU and IMF without a deal Greek leaders have failed to reach a complete agreement on austerity measures but will meet with the EU and the IMF to explain the parts of the deal already agreed upon, according to Reuters. The Greeks must cut 3.3 billion euros this year in order to obtain the 130 billion euro bail out. Government officials indicate that 90 percent of the terms have been agreed upon, including a 22 percent cut in the minimum wage. Pension reforms remain the sticking point. Taxes will also be increased. Greek unemployment is at over 20 percent and at almost 50 percent for younger individuals. Recent offers from the IMF and EU include a bond swap with private creditors for new eurozone safety bonds. The private bondholders will have to swallow a 70 percent cut in the value of their holdings. Keep in mind that the bondholders include numerous European banks and insurance companies, however, the euro zone leaders have been working hard to shore up the core banking system. While today was a key deadline, anonymous reports indicate the Greeks have until February 15 to have a full resolution. Banks and government soon to agree on foreclosure settlement State attorney generals, the federal government and five banks are soon to announce an agreement to settle federal ...

click to view By: TheMillionaireCorner
Duration: 4.47 min.
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This week's PreforeclosureDailyGrind.com "Tip of the Week" dives into what many of today's buyers' lenders are requiring on your short sale acceptance letters, in order to finance a short sale purchase transaction and more. www.PropTrackr.com

click to view By: boblachance
Duration: 7.15 min.
Views: 778
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My commentary on the Greek people revolting against austerity measures, China saving the Eurozone, Home Depot possibly violating Buy American Act, Obama violating War Powers Resolution of 1973. Provopoulos: Failure To Approve Greek Austerity Measures Will Be 'Suicide': FT www.rttnews.com Violence flares before key Greek austerity vote www.reuters.com Enter the dragon 'to save the euro' www.telegraph.co.uk Home Depot accused of violating Buy American Act beta.news.yahoo.com Former Citi exec charged with embezzling $19 mln www.marketwatch.com Bank Of America Agrees To $8.5 Bln Mortgage Settlement www.rttnews.com Canadian Annual Inflation At Highest Since 2003 www.rttnews.com MBA: US Home Loan Demand Drops Last Week www.rttnews.com Texas lawmakers pass airport "anti-groping" bill www.reuters.com House splits on authorizing intervention in Libya articles.sfgate.com Libya Effort Is Called Violation of War Act www.nytimes.com The War Powers Resolution of 1973 www.law.cornell.edu Anti-war left steps up against Obama www.washingtontimes.com

click to view By: DEMCAD
Duration: 9.28 min.
Views: 7175
Rating: 4.8761063