Submitted by Jim Quinn of The Burning Platform Illusion Of Recovery - Feelings Versus Facts “There is no means of avoiding a final collapse of a boom brought about by credit expansion. The alternative is only whether the crisis should come sooner as the result of voluntary abandonment of further credit expansion, or later as the final and total catastrophe of the currency involved.” – Ludwig von ...
Credit Suisse Group AG, the second- biggest bank in Switzerland, told senior investment bankers that compensation for 2011 will be 30 percent lower on average than the previous year, four people briefed the discussions said.
The FTSE 100 has closed at a seven-month high after US data showing more US people are in work boosted global markets, while Greece announces it is to auction €625m of Treasury bills next week.
Denmark’s credit crunch is getting worse as businesses accuse banks of withholding funds and the financial regulator warns that deteriorating asset quality may put more lenders out of business.
Demand for credit cards is "feeling the strain" as UK borrowers turn to other forms of finance, a report suggests.
--Indonesia economy grew 6.5% on-year in the fourth quarter thanks to its vast domestic market
The U.S. Securities and Exchange Commission charged four former veteran investment bankers and traders at Credit Suisse Group for allegedly overstating the value of subprime bonds during the height of the credit crisis in order to protect their bonuses.
Washington, D.C., Feb 1, 2012 – The Securities and Exchange Commission today charged four former veteran investment bankers and traders at Credit Suisse Group for engaging in a complex scheme to fraudulently overstate the prices of $3 billion in subprime bonds during the height of the subprime credit crisis.
The figures raise concern that Europe is on the verge of a credit crunch that would cause a deeper recession than had been expected.
A gauge of U.S. company credit risk rose by the most in more than six weeks as Greece signaled opposition to economic oversight in exchange for aid, stoking concern that Europe’s fiscal crisis may worsen.