Let’s extended it to the whole world
Comments »The Hoarding of Cash by Banks May Exacerbate The ECB’s Ability to Stave Off a Credit Crisis
GLOBAL CDS SPREADS ARE GETTING CRUSHED
San Fran & Cleveland Fed Presidents Say Subdue Inflation Could Pave the Way for More Easing
Tax Free Status: If You Can’t Beat Them…Then Join Them
“StoneMor Partners LP, the publicly traded firm that specializes in running cemeteries, expects to see handsome profits in coming years as baby boomers age and die. But unlike its largest rivals, its corporate tax bill from the federal government will be zero.
StoneMor is among the many businesses organized so they don’t pay a penny in federal corporate income tax. And yet such firms don’t employ an army of accountants to shield profits in complex tax shelters. Their enviable tax position is perfectly legal and has been encouraged by Congress and state governments….”
Comments »The Clam Hands Over $76.9 Billion to Uncle Sam
Hedge funds not much interested in Greek haircut
Comments »LONDON (Reuters) – Hedge funds are taking on the powerful International Monetary Fund over its plan to slash Greece’s towering debt burden as time runs out on the talks that could sway the future of Europe’s single currency.
The funds have built up such a powerful positions in Greek bonds that they could derail Europe’s tactic of getting banks and other bondholders to share the burden of reducing the country’s debt on a voluntary basis.
Bondholders need to give up some 100 billion euros ($130 billion) of their investment in the planned bond swap, drawn up in October, but many hedge funds plan to stay out of it.
They either prefer letting the country go under, which would trigger the credit insurance they have bought, or hope to get paid out in full if enough others sign up. That puts them in direct conflict with the IMF, which wants to force Greece’s cost of financing down to an affordable level.
“The play is purely ‘they’ll be forced to pay me’. Greece will want to avoid a wider default. so if it managed to restructure 80 percent of the deal and pay the rest that’s still better,” said Gabriel Sterne at securities firm Exotix.
Smells Like May 2011—or August 2008.
Cheer Up Bears: Chart Porn To Help You Forget Days Like Today
Pimco’s El-Erian: Beware Unpredictability of Extreme Events
Record Deposits at The ECB Keep Hitting New Records
Bull Rally Defies Most Strategists, But Birinyi Expects a Strong 2012
The UniCredit Debacle May Prevent Other Banks From trying a Rights Offering
UniCredit has tanked 45% in four days and the markets have held up decently. The performance of their stock offering has harmed the chances of other banks raising money through a rights offering.
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