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Links 7/1/09
naked capitalism —
... Two Sides of the Balance Sheet James Kwak (hat tip Ed Harrison) Too-big-to-fail concept institutionalized: Fed's Hoenig MarketWatch (hat tip reader John L) His remarks border on belligerent. IDC: Server market to decline through 2010 Channel Register (hat tip reader John O) Citi raises card rates on millions Financial Times Did Greenspan Make a Mistake in 2001-2004 by Keeping Too Rates Low? Mark Thoma Bank Woes Deepening in Europe New York Times (hat tip DoctoRx) Sterling Crisis Looms as ...
Bank Woes Deepening in Europe
DealBook —
... chief Jan Vanhevel. Another crucial player, Guido Segers, resigned as the head of merchant banking, and traders and bankers have left as part of the inevitable downsizing. Still, the executives behind the collateralized debt obligation strategy remain in charge. Ms. Huybrecht said the bank was trying to put the past behind it. But in two and a half years, if its investment is converted into KBC stock, the Belgian government could end up owning as much as 25 percent of the bank. Go to Article from The New York Times »
Wednesday morning links
The Mess That Greenspan Made —
... rates, fees - USA Today INTERNATIONAL • Chinese Want To Purchase Another $80B Of Gold! - Numismaster • China Manufacturing Expands a Fourth Month - Bloomberg • Fiat CEO says Chrysler cash burn slows - Reuters • Japan’s Tankan Confidence Rebounds Less Than Expected - Bloomberg • China's Huawei needs makeover to win big markets - Reuters • Iraq Fails to Award Most Oil Contracts in Bid Round - Bloomberg • Bank Woes Deepening in Europe - NY Times • Australia’s Retail Sales Climb ...
KBC - not hollowing out, just quietly self-immolating
FT Alphaville —
... jumps ship to a cushy job at Deutsche Securities and angry employees prepare a law suit. To recap, after several government bail-outs amounting to more than $41bn for KBC, investors in Europe have threatened legal action against the bank and its securities arm, KBC Financial Products, while employees in the Japan office have filed suit against the bank’s UK arm, KBC Financial Products. To make matters worse for KBC’s beleagured bosses, a New York Times article on June 30 highlighte what it claimed was an “anything goes” culture amid a lack of managerial oversight and lax ...
