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You always seem to hit that one! KUDOS
Langy, Nice call on KFN ( : TY
something to keep in mind:
A pandemic would deal a major blow to a world economy already knocked into its worst recession in decades by the crisis in financial markets.
Full Story:
http://news.yahoo.com/s/nm/20090425/ts_nm/us_flu_27
something to keep in mind:
A pandemic would deal a major blow to a world economy already knocked into its worst recession in decades by the crisis in financial markets.
Full Story:
http://news.yahoo.com/s/nm/20090425/ts_nm/us_flu_27
Thanks,
I love that quote and so true, Worked in law enforcement for many years. One of the best examples is the OJ trial.
G7 signals worst of world recession may be over
WASHINGTON (Reuters) – Finance chiefs from the G7 powers said on Friday the global economy may be past the worst phase of a recession although recovery was not yet assured, and they pledged to make sure that big financial firms are sound.
Group of Seven finance ministers and central bankers said after a meeting that economic activity should begin to recover later this year. However, they said the outlook remained weak and there was a risk that the global economy may still worsen.
"We are right to be somewhat encouraged, but we would be wrong to conclude that we are close to emerging from the darkness that descended on the global economy early last fall," U.S. Treasury Secretary Timothy Geithner said in a statement.
It was a less dire assessment than the G7 finance officials delivered at their last gathering in February, when they warned that the severe downturn would persist through most of 2009 and made no mention of promising signs of stability.
"Recent data suggest that the pace of decline in our economies has slowed and some signs of stabilization are emerging," the G7 said in a closing communique.
"We will continue to act, as needed, to restore lending, provide liquidity support, inject capital into financial institutions, protect savings and deposits and address impaired assets. We reaffirm our commitment to take all necessary actions to ensure the soundness of systemically important institutions," the statement said.
Japanese Finance Minister Kaoru Yosano said "signs of stabilization" was "an expression with a question mark."
"But we understand that the G7 statement has indirectly expressed the view that the worst may be possibly over for the world economy," he added.
The G7, which comprises the United States, Britain, Canada, France, Germany, Italy and Japan, met a day before the International Monetary Fund and World Bank begin their twice-yearly meetings. The larger G20 group, which includes emerging economies such as China and India, held a meeting after the G7 but issued no official statement.
Geithner said both groups had the same agenda.
"The agenda will be: What are we doing? Are we doing enough to help attenuate the risks in this recession, lay the foundation for an earlier recovery, lay the foundation for a more balanced, more sustainable recovery?" he said.
FIX THE BANKS
The G7 has been under growing pressure to speed up efforts to rid banks of bad assets that have constrained lending and plunged the global economy into its deepest recession since World War Two.
The International Monetary Fund, which has estimated that losses at financial institutions around the globe could exceed $4 trillion, urged rich nations to prioritize repairing the financial sector because the world economy cannot fully recover unless credit is flowing.
"The IMF is absolutely right when it asks countries to deal with toxic assets because transparency is crucial for recovery," said Mario Draghi, head of the Financial Stability Board, a newly fortified group designed to coordinate global regulatory reform.
But some European officials questioned how the IMF calculated the magnitude of bank losses. The Fund estimated that European banks may need to write down $750 billion in bad assets, while U.S. firms had $550 billion more to go.
"We are looking at it very carefully and we think there are methodological issues we have to clarify with the IMF," European Central Bank President Jean-Claude Trichet told a news conference after the G20 meeting. "I am not criticizing the IMF (but) we have to look at it very carefully."
U.S. regulators have put 19 of the largest U.S. banks through stress tests to assess whether the government will have to pump more money into them. Geithner said the results of the stress tests were not discussed at the G7 meeting.
The Federal Reserve released a paper on Friday outlining the methodology of the tests, and said banks needed to hold substantially more capital than is usually required to weather a potential worsening of the recession.
Canadian Finance Minister Jim Flaherty, who has expressed frustration over the slow pace of progress in fixing the banks, said after the G7 meeting that he was pleased with U.S. and British efforts to implement their bank repair plans.
"We're going in the right direction," he said.
With attention firmly focused on the banking sector, the G7 made no changes to its closely watched statement on currency markets, repeating its February caution that excess volatility and disorderly movements in exchange rates were unwelcome.
(Reporting by G7 team; Writing by Emily Kaiser and Glenn Somerville; Editing by Chizu Nomiyama)
http://news.yahoo.com/s/nm/20090425/bs_nm/us_g7_12
nice to know that even in rough financial times people are still giving ( :
well put!
Easter eggs explained:
great picks.
Great find, thanks!
Contest Stats: +52.3% -47.7%
nite all
-118 ty
foreign markets usually follow the DOW, Plus you can trade 24 hrs and burn yourself out even more! ( :
I opened one up about a month ago but havent done anything just watch and a few paper trades, tough to research the stocks from what I'm accustom to (LII etc.)
Moody's downgrades Bank of America, Wells Fargo
5:32p ET March 25, 2009 (MarketWatch)
SAN FRANCISCO (MarketWatch) -- Moody's Investors Service downgraded Bank of America Corp. and Wells Fargo & Co. Wednesday on concern the banks may need more government support to boost their capital.
The downgrade of Bank of America contrasted with comments from Chief Executive Kenneth Lewis, who told the Los Angeles Times that he wanted the company to start paying back $45 billion of investments from the government's Troubled Asset Relief Program, or TARP, in April.
Moody's cut B. of A.'s senior debt rating to A2 from A1, the senior subordinated debt rating to A3 from A2 and the junior subordinated debt rating to Baa3 from A2. The ratings agency also downgraded the bank's preferred stock rating to B3 from Baa1 and Bank of America N.A.'s bank financial strength rating to D from B-.
"Bank of America's capital ratios could come under pressure in the short term, increasing the probability that systemic support will be needed," Moody's said in a statement.
Bank of America's regulatory capital position is quite strong, with a Tier 1 capital ratio of 10.7%. However, that is boosted a lot by preferred stock and so-called hybrid capital instruments, including $45 billion of preferred stock that the bank sold to the U.S. government via TARP, according to Moody's.
Bank of America's tangible common equity, a more conservative measure of capital that gives less credit for hybrid securities, was roughly 4.3% of risk-weighted assets at the end of 2008 and could fall to "comparatively low levels," Moody's added.
The agency downgraded Wells Fargo as well for similar reasons.
It's more difficult to raise tangible common equity "because U.S. banks' access to the equity market is shut or very limited at best," said David Fanger, Moody's senior vice president, in a statement. "This increases the likelihood of a capital initiative by the U.S. government to support Bank of America" and Wells.
Despite the downgrades, shares of Bank of America and Wells climbed almost 7% and 6% respectively on Wednesday.
B. of A.'s Lewis told the L.A. Times that he wants to start repaying $45 billion in federal bailout funds next month, after the government's "stress test." He commented that he's seen nothing from the government to indicate that Bank of America will fail the stress test that will be used to gauge the strength of the 19 largest U.S. banks. That test is scheduled to be completed at the end of April.
In the newspaper's report published Wednesday, Lewis also said several financial indicators -- higher stock prices, slowing of home-price declines and improvements in certain consumer-delinquency gauges -- "leads me to think we're starting to see the bottom" of the recession.
Bank of America will be ready to return all the bailout money as soon as the nation's financial system is stabilized, he added.
Goldman Strategist Has No Faith' in Financials Rally
http://www.bloomberg.com/apps/news?pid=conewsstory&refer=conews&tkr=GS%3AUS&sid=acj2V2z3VLqc
KV settles patent suit with Lannett
Things looking better for KV
http://stlouis.bizjournals.com/stlouis/stories/2009/03/23/daily22.html?ana=yfcpc
we are f'd ( :
ouch!
lol ( :
LOL, Luv it.. ty
Crude +1
Democrats muscle huge stimulus through Congress
Muscle? lol
http://news.yahoo.com/s/ap/20090214/ap_on_go_co/congress_stimulus
Kennedy's still at the bar,,, dammit!
thus the YAKINATOR is created!
speaking in the third person is the first sign of insanity ( :
Patriot Coal to Announce Results for the Quarter Ended December 31, 2008
ST. LOUIS, Feb 02, 2009 /PRNewswire-FirstCall via COMTEX/ -- On Tuesday, February 10, 2009, Patriot Coal Corporation (PCX) will announce results for the quarter ended December 31, 2008. A conference call with management is scheduled for 10:00 a.m. Central Daylight Time on Tuesday, February 10.
Nice Find Zig, thanks!
Obama promises plan to cut mortgage costs
http://www.msnbc.msn.com/id/28946241/
May help B ... Maybe
agree, stay cash & scalp
This is a great resource but play wisely, got burned on KV.A today with their rash of bad news. On to the next one! ( :
Israel begins ceasefire in Gaza Strip > oil
jmo
Obama team seeks fresh approach to bank crisis
http://news.yahoo.com/s/nm/20090117/bs_nm/us_financial_17
YESSSSSSSSSSS!
Da##, missed HOLX today on bottom of my screener
NDA due soon will receive 72M from KV Pharm (kv.a)
too late
ZGEN A/H still booming wtf?