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<title>Credit Crash  | Published News | market</title>
<link>http://www.creditcrash.org</link>
<description>News on credit markets,loans,mortgages,derivatives and interest rates</description>
<pubDate>Wed, 06 Apr 2011 06:01:15 EDT</pubDate>
<language>en</language>
<item>
	<title><![CDATA[Portugal pays higher rate to raise 1bn euros]]></title>
	<link>http://www.creditcrash.org/market/portugal-pays-higher-rate-to-raise-1bn-euros/</link>
	<source url="http://www.bbc.co.uk/news/business-12982612"><![CDATA[Portugal pays higher rate to raise 1bn euros]]></source>
	<description><![CDATA[Portugal manages to raise 1bn euros but forced to pay more than Ireland was before the bailout. They're paying yields of 5.1% and 5.9% to borrow money for six and 12 months. ]]></description>
	<pubDate>Wed, 06 Apr 2011 05:01:15 EDT</pubDate>
	<author>alanwellspun</author>
	<category>market</category>
	<votes>3</votes>
	<guid>http://www.creditcrash.org/market/portugal-pays-higher-rate-to-raise-1bn-euros/</guid>
</item>

<item>
	<title><![CDATA[Sterling struggles to shake off GDP shock]]></title>
	<link>http://www.creditcrash.org/market/sterling-struggles-to-shake-off-gdp-shock/</link>
	<source url="http://uk.reuters.com/article/idUKLDE70P0I020110126"><![CDATA[Sterling struggles to shake off GDP shock]]></source>
	<description><![CDATA[Sterling long positions cut due to comments by Mervyn King who said inflation surge due to one-off events and any decision to raise interest rates will be based on longer-term goals.<br /><br />The minutes also noted that the pattern of subdued money and credit growth in the UK may reflect:<br />"a reduced reliance on the banking system during the recovery, given the tightening in bank credit conditions. This trend might persist if businesses were to rely increasingly on existing cash balances and capital markets, rather than bank lending, to finance investment in future. The relative weakness of broad money growth might also reflect banks increasing their capital bases in advance of the introduction of higher regulatory capital standards. To the extent that these factors persisted, money and credit growth could remain weaker than nominal spending growth for some while." ]]></description>
	<pubDate>Wed, 26 Jan 2011 13:08:07 EST</pubDate>
	<author>crikey</author>
	<category>market</category>
	<votes>4</votes>
	<guid>http://www.creditcrash.org/market/sterling-struggles-to-shake-off-gdp-shock/</guid>
</item>

<item>
	<title><![CDATA['Fat Finger' Error Spooks Treasuries]]></title>
	<link>http://www.creditcrash.org/market/fat-finger-error-spooks-treasuries/</link>
	<source url="http://online.wsj.com/article/BT-CO-20110118-714287.html"><![CDATA['Fat Finger' Error Spooks Treasuries]]></source>
	<description><![CDATA[Trader does a fat finger and offers $6 million in 10-year but enters $6 billion instead! Although it was spotted a few market jitters ensued although Normal selling resumed quickly. ]]></description>
	<pubDate>Wed, 19 Jan 2011 15:38:05 EST</pubDate>
	<author>crikey</author>
	<category>market</category>
	<votes>1</votes>
	<guid>http://www.creditcrash.org/market/fat-finger-error-spooks-treasuries/</guid>
</item>

<item>
	<title><![CDATA[Europe Default - Insurance Costs Rise - MarketBeat - WSJ]]></title>
	<link>http://www.creditcrash.org/market/europe-default-insurance-costs-rise-marketbeat-wsj/</link>
	<source url="http://blogs.wsj.com/marketbeat/2011/01/10/europe-default-insurance-costs-rise/"><![CDATA[Europe Default - Insurance Costs Rise - MarketBeat - WSJ]]></source>
	<description><![CDATA[Fears over Portugal caused the cost of insuring European sovereign debt against default to rise to a new high. Portugal, Spain and Greece are all issuing bonds this week.<br /><br />According to the article Germany and France are urging Portugal to use the protection of Europe’s new bailout facility as they think Portugal could get the cold shoulder from the capital markets.  ]]></description>
	<pubDate>Mon, 10 Jan 2011 18:01:04 EST</pubDate>
	<author>dandare</author>
	<category>market</category>
	<votes>1</votes>
	<guid>http://www.creditcrash.org/market/europe-default-insurance-costs-rise-marketbeat-wsj/</guid>
</item>

<item>
	<title><![CDATA[John Hussman: We Are Selling Off Our Children's Future -- Seeking Alpha]]></title>
	<link>http://www.creditcrash.org/market/john-hussman-we-are-selling-off-our-childrens-future---seeking-alpha/</link>
	<source url="http://seekingalpha.com/article/127366-john-hussman-we-are-selling-off-our-children-s-future"><![CDATA[John Hussman: We Are Selling Off Our Children's Future -- Seeking Alpha]]></source>
	<description><![CDATA[Make no mistake - we are selling off our future and the future of our children to prevent the bondholders of U.S. financial corporations from taking losses ]]></description>
	<pubDate>Tue, 31 Mar 2009 02:07:10 EDT</pubDate>
	<author>crikey</author>
	<category>market</category>
	<votes>5</votes>
	<guid>http://www.creditcrash.org/market/john-hussman-we-are-selling-off-our-childrens-future---seeking-alpha/</guid>
</item>

<item>
	<title><![CDATA[Bank of England may use quantitative easing this week]]></title>
	<link>http://www.creditcrash.org/market/bank-of-england-may-use-quantitative-easing-this-week/</link>
	<source url="http://uk.reuters.com/article/businessNews/idUKN0240999020090303"><![CDATA[Bank of England may use quantitative easing this week]]></source>
	<description><![CDATA[Bank of England could start quantitative easing by buying assets with newly created money to boost the money supply and the economy, Chancellor Alistair Darling said in an interview. ]]></description>
	<pubDate>Tue, 03 Mar 2009 08:17:38 EST</pubDate>
	<author>crikey</author>
	<category>market</category>
	<votes>2</votes>
	<guid>http://www.creditcrash.org/market/bank-of-england-may-use-quantitative-easing-this-week/</guid>
</item>

<item>
	<title><![CDATA[YouTube - Congressman Explains Hijacking of the US Economy by the Federal Reserve & Treasury]]></title>
	<link>http://www.creditcrash.org/market/youtube---congressman-explains-hijacking-of-the-us-economy-by-the-federal-reserve--treasury/</link>
	<source url="http://www.youtube.com/watch?v=INAGMSARPYw"><![CDATA[YouTube - Congressman Explains Hijacking of the US Economy by the Federal Reserve & Treasury]]></source>
	<description><![CDATA[Kanjorski says US 3 hours from complete economic collapse due to run on money market funds. Fed didn't have enough money to buy toxic assets ]]></description>
	<pubDate>Thu, 12 Feb 2009 06:22:53 EST</pubDate>
	<author>crikey</author>
	<category>market</category>
	<votes>5</votes>
	<guid>http://www.creditcrash.org/market/youtube---congressman-explains-hijacking-of-the-us-economy-by-the-federal-reserve--treasury/</guid>
</item>

<item>
	<title><![CDATA[Lehman Sees $3.9 Billion Loss and Plans to Shed Assets - NYTimes.com]]></title>
	<link>http://www.creditcrash.org/market/lehman-sees-3-9-billion-loss-and-plans-to-shed-assets---nytimes-com/</link>
	<source url="http://www.nytimes.com/2008/09/11/business/11lehman.html?_r=1&oref=slogin"><![CDATA[Lehman Sees $3.9 Billion Loss and Plans to Shed Assets - NYTimes.com]]></source>
	<description><![CDATA[Expected losses of $3.9 billion, or $5.92 a share, in the third quarter after $5.6 billion in write-downs. Now selling best assets to raise capital. ]]></description>
	<pubDate>Wed, 10 Sep 2008 11:15:39 EDT</pubDate>
	<author>crikey</author>
	<category>market</category>
	<votes>2</votes>
	<guid>http://www.creditcrash.org/market/lehman-sees-3-9-billion-loss-and-plans-to-shed-assets---nytimes-com/</guid>
</item>

<item>
	<title><![CDATA[Bear Stearns bailout harks back to panic of 1907 - MarketWatch]]></title>
	<link>http://www.creditcrash.org/market/Bear_Stearns_bailout_harks_back_to_panic_of_1907_-_MarketWatch/</link>
	<source url="http://www.marketwatch.com/news/story/jp-morgans-role-bailout-harks/story.aspx?guid=%7B62A41B26-D222-4582-9043-CFE3A44D7130%7D"><![CDATA[Bear Stearns bailout harks back to panic of 1907 - MarketWatch]]></source>
	<description><![CDATA[Title says it all really. Its not just the Fed that cant afford to let Bear Stearns go ]]></description>
	<pubDate>Fri, 14 Mar 2008 10:41:02 EDT</pubDate>
	<author>crikey</author>
	<category>market</category>
	<votes>2</votes>
	<guid>http://www.creditcrash.org/market/Bear_Stearns_bailout_harks_back_to_panic_of_1907_-_MarketWatch/</guid>
</item>

<item>
	<title><![CDATA[U.S. economy isn't falling into stagflation, Fed's Bernanke says - MarketWatch]]></title>
	<link>http://www.creditcrash.org/market/U-S-_economy_isnt_falling_into_stagflation_Feds_Bernanke_says_-_MarketWatch/</link>
	<source url="http://www.marketwatch.com/news/story/us-economy-isnt-falling-stagflation/story.aspx?guid=%7B8DC2219A-F7A7-497C-B58C-C481455AA68D%7D"><![CDATA[U.S. economy isn't falling into stagflation, Fed's Bernanke says - MarketWatch]]></source>
	<description><![CDATA[Commentary on Bernanke report on monetary policy, particularly "I don't anticipate stagflation. I don't think we are anywhere near the situation that prevailed in the 1970s". ]]></description>
	<pubDate>Sat, 01 Mar 2008 05:44:03 EST</pubDate>
	<author>dandare</author>
	<category>market</category>
	<votes>4</votes>
	<guid>http://www.creditcrash.org/market/U-S-_economy_isnt_falling_into_stagflation_Feds_Bernanke_says_-_MarketWatch/</guid>
</item>

<item>
	<title><![CDATA[Fed Announces March Auctions]]></title>
	<link>http://www.creditcrash.org/market/Fed_Announces_March_Auctions/</link>
	<source url="http://ap.google.com/article/ALeqM5jC0Js_XMSCt-GDAijc3qIbjuVZIAD8V49LKO0"><![CDATA[Fed Announces March Auctions]]></source>
	<description><![CDATA[Announcement that Fed will make $30 billion available to banks with problems due to the credit crisis. Auctions will be continued every two weeks "for as long as necessary to address elevated pressures" in the credit markets. ]]></description>
	<pubDate>Sat, 01 Mar 2008 05:35:49 EST</pubDate>
	<author>dandare</author>
	<category>market</category>
	<votes>3</votes>
	<guid>http://www.creditcrash.org/market/Fed_Announces_March_Auctions/</guid>
</item>

<item>
	<title><![CDATA[US Recession has started says Bill Gross]]></title>
	<link>http://www.creditcrash.org/market/US_Recession_has_started_says_Bill_Gross/</link>
	<source url="http://www.ft.com/cms/s/0/c1cdc016-af66-11dc-880f-0000779fd2ac.html"><![CDATA[US Recession has started says Bill Gross]]></source>
	<description><![CDATA[In an interview for the FT, PIMCO's Bill Gross said the US recession has started, interest rates would have to come down to 3 percent next year to provide a floor for home prices and that their latest acquisition - Alan Greenspan -  should have regulated mortgages before the current crisis hit. ]]></description>
	<pubDate>Fri, 21 Dec 2007 08:06:31 EST</pubDate>
	<author>dandare</author>
	<category>market</category>
	<votes>5</votes>
	<guid>http://www.creditcrash.org/market/US_Recession_has_started_says_Bill_Gross/</guid>
</item>

<item>
	<title><![CDATA[Dollar was 2007 subprime casualty, but 2008 might be different - MarketWatch]]></title>
	<link>http://www.creditcrash.org/market/Dollar_was_2007_subprime_casualty_but_2008_might_be_different_-_MarketWatch/</link>
	<source url="http://www.marketwatch.com/news/story/dollar-2007-subprime-casualty-2008/story.aspx?guid=%7BE33C2189%2DB1F8%2D4CEE%2D9FDF%2D57CE56D36868%7D&dist=TNMostRead"><![CDATA[Dollar was 2007 subprime casualty, but 2008 might be different - MarketWatch]]></source>
	<description><![CDATA[Article argues that there is no point selling dollar short now that "now that much of the explicit costs have already been exposed by the banking system"<br /><br />Predicts that as US problems spread globally, relative dollar appeal increases. Forecasts for 2008 include rates at $1.30 against euro, $1.90 sterling and 120 yen. ]]></description>
	<pubDate>Mon, 17 Dec 2007 06:22:40 EST</pubDate>
	<author>crikey</author>
	<category>market</category>
	<votes>5</votes>
	<guid>http://www.creditcrash.org/market/Dollar_was_2007_subprime_casualty_but_2008_might_be_different_-_MarketWatch/</guid>
</item>

<item>
	<title><![CDATA[Wachovia warns of $1.1 billion of credit losses - washingtonpost.com]]></title>
	<link>http://www.creditcrash.org/market/Wachovia_warns_of_1-1_billion_of_credit_losses_-_washingtonpost-com/</link>
	<source url="http://www.washingtonpost.com/wp-dyn/content/article/2007/11/09/AR2007110900590.html"><![CDATA[Wachovia warns of $1.1 billion of credit losses - washingtonpost.com]]></source>
	<description><![CDATA[Wachovia has announced that it lost $1.1 billion on collateralized debt obligations (CDOs) invested in asset-backed securities in October. The bank said it will set aside $500 million to $600 million in excess of actual mortgage-loan charge-offs which will cut earnings even more ]]></description>
	<pubDate>Fri, 09 Nov 2007 09:34:31 EST</pubDate>
	<author>crikey</author>
	<category>market</category>
	<votes>3</votes>
	<guid>http://www.creditcrash.org/market/Wachovia_warns_of_1-1_billion_of_credit_losses_-_washingtonpost-com/</guid>
</item>

<item>
	<title><![CDATA[International Task Force on the subprime crisis launched]]></title>
	<link>http://www.creditcrash.org/market/International_Task_Force_on_the_subprime_crisis_launched/</link>
	<source url="http://www.iosco.org/news/"><![CDATA[International Task Force on the subprime crisis launched]]></source>
	<description><![CDATA[The International Organization of Securities Commissions (IOSCO) has created a Task Force on the subprime crisis to review issues facing securities regulators following events in the global credit markets.One of the objectives of the Task Force is to ensure that the implications for securities regulation are reviewed in a systematic manner.<br /><br />â€œThe recent events in the credit markets have demonstrated how closely linked the worldâ€™s financial centres are and that the issues facing securities regulators can no longer simply be viewed in a national context. This reinforces the need for regulators to develop and implement international principles of regulation.â€ said Chairman of IOSCOâ€™s Technical Committee ]]></description>
	<pubDate>Fri, 09 Nov 2007 07:22:25 EST</pubDate>
	<author>crikey</author>
	<category>market</category>
	<votes>3</votes>
	<guid>http://www.creditcrash.org/market/International_Task_Force_on_the_subprime_crisis_launched/</guid>
</item>

<item>
	<title><![CDATA[Darling to lower 2008 economic forecasts]]></title>
	<link>http://www.creditcrash.org/market/Darling_to_lower_2008_economic_forecasts/</link>
	<source url="http://news.bbc.co.uk/1/hi/business/7029423.stm"><![CDATA[Darling to lower 2008 economic forecasts]]></source>
	<description><![CDATA[Interview with Chancellor reveals that Treasury downgrades 2008 economic growth forecast from 3.0 percent to 2.5 percent. Darling accepts there will be an effect on Britain from the credit crunch. "Given the importance of the US economy and given what's happened here in relation to the effect it will have on the availability of credit, it would be fairly odd if you didn't take account of that" ]]></description>
	<pubDate>Fri, 05 Oct 2007 03:59:21 EDT</pubDate>
	<author>crikey</author>
	<category>market</category>
	<votes>3</votes>
	<guid>http://www.creditcrash.org/market/Darling_to_lower_2008_economic_forecasts/</guid>
</item>

<item>
	<title><![CDATA[UBS shakes up management after huge write down]]></title>
	<link>http://www.creditcrash.org/market/UBS_shakes_up_management_after_huge_write_down/</link>
	<source url="http://www.swissinfo.org/eng/front/detail/UBS_shakes_up_management_after_credit_losses.html?siteSect=105&sid=8268883&cKey=1191229126000&ty=st"><![CDATA[UBS shakes up management after huge write down]]></source>
	<description><![CDATA[Huw Jenkins and Clive Standish go after losses mainly attributed to subprime fallout. Marcel Rohner who now takes control said "We will make an overall pre-tax loss at Group level for the quarter. These events have led to management changes," ]]></description>
	<pubDate>Mon, 01 Oct 2007 03:37:10 EDT</pubDate>
	<author>crikey</author>
	<category>market</category>
	<votes>1</votes>
	<guid>http://www.creditcrash.org/market/UBS_shakes_up_management_after_huge_write_down/</guid>
</item>

<item>
	<title><![CDATA[Backlog of US leveraged loans begins to clear]]></title>
	<link>http://www.creditcrash.org/market/Backlog_of_US_leveraged_loans_begins_to_clear/</link>
	<source url="http://www.financialnews-us.com/index.cfm?page=ushome&contentid=2348847440"><![CDATA[Backlog of US leveraged loans begins to clear]]></source>
	<description><![CDATA[Nearly half of the $300bn of backlogged loans are expected to come onto the US market this month although the article warns that said the leveraged finance market in Europe has "failed to reignite" ]]></description>
	<pubDate>Mon, 01 Oct 2007 03:33:27 EDT</pubDate>
	<author>crikey</author>
	<category>market</category>
	<votes>2</votes>
	<guid>http://www.creditcrash.org/market/Backlog_of_US_leveraged_loans_begins_to_clear/</guid>
</item>

<item>
	<title><![CDATA[The credit crunch of 2007]]></title>
	<link>http://www.creditcrash.org/market/The_credit_crunch_of_2007/</link>
	<source url="http://uk.reuters.com/article/Internal_ReutersCoUkService_6/idUKNOA12335620071001"><![CDATA[The credit crunch of 2007]]></source>
	<description><![CDATA[Timeline of the 2007 credit crunch. The beginning of the crisis is shown as q4 2006 with a slowing US housing market, subprime lender bankruptcies and widening spreads. ]]></description>
	<pubDate>Mon, 01 Oct 2007 03:23:42 EDT</pubDate>
	<author>crikey</author>
	<category>market</category>
	<votes>2</votes>
	<guid>http://www.creditcrash.org/market/The_credit_crunch_of_2007/</guid>
</item>

<item>
	<title><![CDATA[Goldman Sachs tiptoeing into the bear camp]]></title>
	<link>http://www.creditcrash.org/market/Goldman_Sachs_tiptoeing_into_the_bear_camp/</link>
	<source url="http://www.telegraph.co.uk/money/main.jhtml;jsessionid=ASPT0455XU21HQFIQMGSFF4AVCBQWIV0?xml=/money/2007/09/27/bcngold127.xml"><![CDATA[Goldman Sachs tiptoeing into the bear camp]]></source>
	<description><![CDATA[Article on latest report from Goldman indicates they no longer believe Asia and Europe strong enough drive global growth as US falters. Likelihood of Japanese recession risen to nearly two in three and unwinding of yen carry trade led to losses for many savers. Wages continue to fall leading to deflation fears. ]]></description>
	<pubDate>Fri, 28 Sep 2007 02:40:58 EDT</pubDate>
	<author>crikey</author>
	<category>market</category>
	<votes>2</votes>
	<guid>http://www.creditcrash.org/market/Goldman_Sachs_tiptoeing_into_the_bear_camp/</guid>
</item>

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