Tuesday, June 25, 2013

Tuesday roundup (06-25-13)

Rise in euro zone yields does not pose immediate risk - officials (Reuters)

Greece Bailout: Reshuffle As Deadline Looms: Top ministers are told to waste no time delivering on promises the government made in exchange for EU and IMF bailouts. (SkyNews)

Greek Bank Bailout Plan May Reward Some Involved in Collapse (The New York Times)

Greek PM says avoiding more austerity is govt's priority (Reuters)

Italy Could Be Riskiest of EU Coalition Governments: JPMorgan (CNBC)

Is Italy headed for a Greece-style bailout? (Marketplace)

Portugal Yields Need Draghi to Keep His OMT Promise: Euro Credit (Bloomberg)

Portugal Posts Wider Budget Budget Deficit as Spending Increases (Bloomberg)

Anglo Irish bankers 'tricked' government into bailout: Two top executives at the stricken Anglo Irish Bank have been caught on tape allegedly admitting that the lender suckered the Irish government into a €7bn (£6bn) bail-out knowing that far more was needed. (The Telegraph)

Fed’s Fisher Urges Bank Breakup Amid Too-Big-to-Fail ‘Injustice’ (Bloomberg)

Too Big to Fail: Some Questions for the House Financial Services Committee (The Heritage Foundation blogs)

Will Higher Capital Requirements Make The Banking System Safe? (Forbes)

U.S. Civil Charges Against Corzine Are Seen as Near (The New York Times blogs) CFTC likely to charge MF Global execs beyond Corzine: legal experts (Reuters)

NY Regulator Cracks Down on Sanctions Violations (CNBC)

     The aim of this blog is to show (mostly from reports in mainstream respected news sources) that there is reason to believe that both the United States and the global economies remain fragile in the wake of the financial crisis of 2008 and that a number of threats that exist today could, if they worsened, bring about economic depression -- not just a minor depression, but a depression worse than the Great Depression. This blog further attempts to show that the financial crisis of 2008 was largely a result of the devastating consequences of excessive risk taking and the absence of effective regulation of such behavior. Furthermore, this blog maintains that not only have the lessons that should have been learned from this experience not been learned, but that the risks to the economy, including the persistent building up of "too big to fail" institutions, have actually increased since the crisis began. Finally this blog also brings to light, from time to time, reports of a parallel threat to economic well-being developing in the energy industry, which suggest an energy shock may be coming much closer in time than is generally imagined.

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