First-time buyers welcome crash
"House prices have fallen for 11 months in a row with lender Nationwide warning of "difficult" times ahead, but many first-time buyers are quietly counting their blessings. "
Public spending must be cut and nationalised institutions should be re-privatised
Paulson is coming to town:
"The UK will need to consider all options: whether to put in a similar scheme to the Paulson plan in the US, given particularly, the major interlinkage between UK and US banks as both have a major presence in each other's country. "
Europe economic powers to hold finance crisis summit
Problem solved; the EU are going to have a meeting about the credit crunch.
PM to attend credit crunch summit
Mr. Brooooon is going to turn up too. Success is certain.
Will Euro Bank Woes Take Down the EU?
"The EU lacks a mechanism for rescuing banks; the responsibility falls to national central banks. The rescue over last weekend of Fortis demonstrated that several central banks, shepherded by the EU, can make a coordinated rescue. But will this prove to be a one-off or a model? The biggest banks in Europe, starting with Deutschebank and UBS, are similarly too big for their home country central bank to salvage in case of a meltdown."
Bradford and Bingley: British government nationalises second failing bank
The socialist view on the second UK bank failure.
Inflation, Deflation, Money Velocity and Gold
The deflationist view from the Financial Ninja.
ING eyes new property derivatives drive
If you thought that banks might have learnt something from the current crisis, well here is a story to disabuse you of that idea.
Ireland OKs world-leading bank guarantee
Let's move our money to Dublin.
Casinos weathering economic storm
The gamblers have moved out of housing and back into the casinos.
"Casinos .... are outperforming 2008 projections. In Pennsylvania, Philadelphia Park Casino was projected to earn $297 million annually, but it just completed its first full year with $325 million. The nearby Harrah’s Chester Casino earned $332 million, nearly $100 million more than expected. Likewise, gaming revenues in Iowa have increased throughout 2008. "
2 comments:
Brilliant move by the Irish government, getting the pathetic British to recapitalise their banks. The consensus is that this will cost the Irish: au contraire, it will save bundles by attracting all those deposits that will keep the banks stable until this storm blows over. Meanwhile, Gordon "Big and Constipated" Brown and Alastair "Is Not My" Darling dither and balk at doing the same, which, after all, is the only sensible thing to do in the circumstances.
I think the Brits are quite used to sinking money into an ungrateful Ireland.
Nick
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