Financial market losses could top 1,600 billion dollars: report
|
|
|
Geneva - The global financial crisis could lead to losses of 1,600 billion dollars for financial institutes, according a report in the Swiss Sunday newspaper SonntagsZeitung. It quoted a confidential study by the hedge fund Bridgewater Associates as saying losses for banks holding risky assets could be four times greater than the 400 billion dollars previously estimated. The hedge fund expressed doubts that the financial institutes would be able to drum up enough funds to cover the losses, something it said could exacerbate the crisis. Bridgewater, one of the world's biggest hedge funds, based its calculations on the state of risky debt-based US assets, such as mortgages, credit and credit card demands. The value of such risky assets is 26,600 billion dollars, according to the hedge fund. The losses would amount to 1,600 billion dollars if these assets were valued at market rates and not in the form of securitization, the newspaper said.
Copyright DPA
|
|
|
|
|
|
Related News
Poland want to cut budget deficit by reducing pension payments
Warsaw - Poland wants to reduce its deficit by reducing payments to private pension funds while keeping that money in the state's social insurance company ZUS, the Finance Ministry said Wednesday. Under the proposal, private pension funds would recei...
IMF unfreezes standby loan after Serbia promises spending cuts
Belgrade - The International Monetary Fund (IMF) will unfreeze funds from a 4-billion-dollar standby loan to Serbia, which in return must curb spending and reform its social care system, officials said Wednesday in Belgrade. The head of the IMF missi...
IMF recommends Iceland keep currency controls
Reykjavik - The International Monetary Fund (IMF) has recommended Iceland maintain currency controls for the time being in order to ensure a stable currency, according to a report released Tuesday. The Icelandic central bank published the 98-page rep...
Hong Kong's best-known war reporter fights for her life savings
Hong Kong - The family of Hong Kong's most celebrated war correspondent Clare Hollingworth said Sunday they were taking bankruptcy proceedings against a public relations consultant who withdrew 200,00 US dollars of her savings. Legal papers were serv...
Norwegian central bank raises rate to 1.50 per cent
Oslo - Norway's central bank on Wednesday raised its benchmark interest rate by 0.25 percentage points to 1.50 per cent, citing slightly higher inflation and signs of economic recovery. Unemployment is considerably lower than previously projected. T...
Liechtenstein reworks tax information sharing with Belgium, Antigua
Vaduz - The principality of Liechtenstein announced Monday that it had negotiated agreements on sharing tax information with Belgium and Antigua and Barbuda, part of an ongoing effort to meet openness standards demanded by other nations. Once signed,...
Estonia may need deeper budget cuts to adopt euro, says IMF
Tallinn - The Baltic state of Estonia may need to make deeper-than-planned cuts to its public spending if it is to qualify for euro adoption in 2011, a representative of the International Monetary Fund (IMF) said Monday. Speaking at the conclusion of...
|
|
|
|
|
| |
|
American Dollar
By:
Warren ,
Tue, 08 Jul 2008 14:36:12 GMT
|
|
It is time for the American people to call all there REP. in Washington , make them force the Fed. to raise the dollar value. Bring it up to 4% like it needs to be. Not at the current rate of 2%.
|
|
'No Wealth Is Lost'
By:
MB ,
Mon, 07 Jul 2008 19:58:47 GMT
|
|
"... it simply changes hands." So says "SomeGuy."
OK, dude. Who has it?
|
|
Losses
By:
Playin Possum ,
Mon, 07 Jul 2008 16:00:01 GMT
|
|
Market valuation created the gains; these people should all suffer market valued losses. They want it both ways. Property is way over valued.
|
|
A new high water mark...
By:
Dave ,
Mon, 07 Jul 2008 15:18:32 GMT
|
|
And the number just keeps going up and up. $1.6 trillion and counting.
|
|
Financial Market Losses
By:
Ken in Camarillo ,
Mon, 07 Jul 2008 07:22:29 GMT
|
|
This looks like more crap from European newspapers. Or.. European newspapers are more gullible and can be used for planted stories. This looks like the inverse of "pump and dump".
The hedge fund must have plenty of cash, and wants to talk down the market sector they're interested in before buying a big position in the recovery.
|
|
No wealth is 'lost'....
By:
SomeGuy ,
Mon, 07 Jul 2008 06:46:41 GMT
|
|
it simply changes hands....
http://video.google.com/videoplay?docid=-515319560256183936&q=Money+Masters+site%3Avideo.google.com&total=354&start=0&num=10&so=0&type=search&plindex=0
|
|
US/India Relationship
By:
Abdul Clamwacker ,
Sun, 06 Jul 2008 22:46:49 GMT
|
|
As I see it, one challenge is that middle-class jobs are being squeezed out of the United States. This in turn presents a problem because qualified employees are working positions in the service industry.
So as the middle class shrinks in the US, the middle class in India grows. Another issue is that trade and exports to India is light, and not great enough to offset the deficit.
Similar issues are occuring with China!
Good luck USA with that Quagmire! The best answer may not to play that globalization game and rely on local talent instead of outsourcing so many key industries.
|
|
And whose fault is it?
By:
Vince, Sparks NV ,
Sun, 06 Jul 2008 22:17:26 GMT
|
|
Point fingers. Assign blame. Who's fault is it?
I probably will disagree with you.
|
|
Wolf, wolf, wolf!
By:
torabora ,
Sun, 06 Jul 2008 22:09:12 GMT
|
|
This is the worst kind of reporting. Saying the finacial markets are four times worse than reported without ANY verification. Pure hogwash!
|
|
Financial markets
By:
oregonrr ,
Sun, 06 Jul 2008 21:14:44 GMT
|
|
The United States should immediately direct all resources to building an infrastrucuture which would dazzle and lure foreign interest, investment, and participation. This would include, but not be limited to the following: Roads, alternative transportation nationwide and in rural as well as densely populated areas, airports, BUS companies, rail, water, and hub and spoke taxi services. Education should go private and foreign students should pay a premium to occupy seats in American schools. Citizenship should be difficult to obtain, and rights should be greatly prized and difficult to obtain for non-native born citizens. Medical, transportation, architecture of air - land - and sea should be undertaken. But alas, America would rather play games with Mexico, destroy ANWAR, and play war games. America has chosen to transfer her wealth "elsewhere." Wisdom knows how to stop this financial melt-down, but Americans have put McCain and Obama in the Presidential race. What a sad comment on the state of the common American citizen (and co-influencial illegal alien) today.
|
|
|
|
|
