Febrero

U.S. Stocks Drop on Concern Banks Will Need to Be Nationalized
Bloomberg (Febrero, 20)

Dodd Says Short-Term Bank Takeovers May Be Necessary
Bloomberg (Febrero, 20)

Chile's economy: Stimulating
The economist (Febrero, 20)

The collapse of manufacturing
The economist (Febrero, 20)

Acciones de Citigroup y Bank of America se hunden por temor a una nacionalización
El Economista (Febrero, 19)

El Banco Central de Inglaterra pide permiso al Gobierno para imprimir dinero
Cinco Días (Febrero, 19)

Gordon Brown se fija en Suiza en su campaña contra los paraísos fiscales
Finanzas (Febrero, 19)

6,4 millones de personas reciben pagos por desempleo en E.U.
El Tiempo (Febrero, 19)

Indice actividad fabril Fed Filadelfia cae en feb
Reuters (Febrero, 19)

Economic catastrophe looms
Asian Times (Febrero, 19)

Europe Banks to Set Up Default Swap Clearing
The Street (Febrero, 19)

Hedge Funds Pressed to Consolidate as Losses Cut Fees
Bloomberg (Febrero, 18)

Obama Pledges $275 Billion to Stem U.S. Foreclosures
Bloomberg (Febrero, 18)

La construcción de viviendas en EEUU cae en enero a su mínimo histórico
Finanzas (Febrero, 18)

Obama Sets $75 Billion Plan to Stem U.S. Foreclosures
Bloomberg (Febrero, 18)

Steinbrueck Says Euro States May Bail Out Members
Bloomberg (Febrero, 17)

S&P revisaría calificación bancos del este de Europa
Reuters (Febrero, 17)

Obama firma y convierte en ley iniciativa de estímulo fiscal
Pueblo en Linea (Febrero, 17)

Greenspan backs bank nationalisation
Bloomberg (Febrero, 17)

Greenspan Says U.S. Crisis Response May Not Be Enough
bloomberg (Febrero, 17)

Japan Economy Shrinks 12.7%, Steepest Drop Since 1974
Bloomberg (Febrero, 16)

Death of Corporate Bonds Is Worth Investigating
Bloomberg (Febrero, 16)

Geithner Reassures G-7 on U.S. Financial Rescue Plan
Bloomberg (Febrero, 15)

G-7 Takes ‘Back Seat’ as Crisis Pushes G-20 to Fore
Bloomberg (Febrero, 15)

The Great Crash, 2008
Foreing Affairs (Febrero, 15)

Ailing Banks May Require More Aid to Keep Solvent
The New York Times (Febrero, 12)

Nationalized Banks Are "Only Answer," Economist Stiglitz Says
Deutsche Welle (Febrero, 6)

France to call for hedge fund crackdown
Financial Times (Febrero, 12)

Federal Reserve is prepared to expand term Asset-Baked Securities Loan Facility (TALF)
Fed (Febrero, 10)

Fed in Talks to Add Primary Dealers as Sales Surge
Bloomberg (Febrero, 12)

EE.UU.: Rescates podrían sumar hasta dos billones de dólares
El Clarín (Febrero, 11)

China Needs U.S. Guarantees for Treasuries, Yu Says
Bloomberg (Febrero, 10)

IMF Chief Says Nations in 'Depression'
By BOB DAVIS and ELFFIE CHEW
Wall Street Journal 9 de febrero

International Monetary Fund chief Dominique Strauss-Kahn said the world's advanced economies -- the U.S., Western Europe and Japan -- are "already in depression," and that the IMF could slash its global growth forecasts further. The "worst cannot be ruled out," he said.
The IMF managing director's comments to reporters after a speech in Kuala Lumpur, Malaysia, represent the most dire estimate thus far of the state of the global economy by a major political figure, and were far more pessimistic than forecasts released by the IMF as recently Jan. 28.
Political figures generally avoid using the word depression because of the association with the Great Depression of the 1930s, when unemployment hit 25% in the U.S. and economic output fell even more steeply. Last week, when British Prime Minister Gordon Brown used the word "depression" to describe the global economy, his aides quickly said it was a slip of the tongue.
In the U.S., chief White House economic adviser Lawrence Summers said that while the economic situation was serious, it wasn't as bad as Mr. Strauss-Kahn seemed to suggest.
"We were really in a very different situation than" the Great Depression, he said on ABC television's "This Week with George Stephanopoulos."
Since the events of the 1930s, there hasn't been a widely accepted definition of economic depression.
Former IMF Chief Economist Simon Johnson, a professor at MIT's Sloan School of Management, said the term refers to a significant contraction that lasts around five years. Under that definition, he said, Japan during the 1990s could have been classified as having been trapped in a depression.
Whatever the definition, by using the word "depression," Mr. Strauss-Kahn, a 59-year-old former French finance minister who has worked for decades on economic issues, has achieved shock value.
That could increase political pressure on national leaders on at least two fronts, Mr. Johnson and several IMF officials said.
The IMF has been campaigning for months to get governments in many countries to boost fiscal spending by about two percentage points to fight the global downturn. It has recently pressed governments again to repair their banking systems, even at a steep cost.
But it has been frustrated by what it feels is an inadequate response, especially in Europe, where governments worry that additional spending will lead to unmanageable inflation. U.S. plans have brought more applause by IMF officials.
The IMF also has also begun to campaign to double its lending war chest to $500 billion, from $250 billion. The declaration of a depression could help Mr. Strauss-Kahn pressure reluctant IMF board members to pitch in and fund that plan. The IMF is close to finalizing a deal with Japan for a $100 billion loan that could be tapped in emergencies, and plans to call on other countries with large reserves, such as China and Saudi Arabia, to make emergency loans available too.
In addition, the IMF is considering issuing bonds for the first time in its history. It's likely that such bonds would be sold only to governments or central banks; in that way, they would become part of those nations' official reserves. The holders of the bonds could sell them to other nations, though probably not on the open market. That would make the bonds a more liquid version of loans to the IMF.
Issuing bonds is seen as a more controversial measure by some IMF members, especially the U.S., Germany and the Netherlands, which prefer to keep the IMF on a tighter leash by limiting its ability to lend.

Our lethargic leaders must work together on the crisis
New York Times (Febrero, 8)

On the Edge
New York Times (Febrero, 8)

China’s Blackstone Pain Is Good News for Treasuries
Bloomberg (Febrero, 9)

Goldman’s Blankfein Says Banks Shouldn’t Abandon Mark-to-Market
Bloomberg (Febrero, 9)

U.S. Taxpayers Risk $9.7 Trillion on Bailouts as Senate Votes
Bloomberg (Febrero, 9)

GM, Chrysler May Face Bankruptcy to Protect U.S. Debt
Bloomberg (Febrero, 9)

Geithner Plans to Bring in Private Investment for Toxic Assets
Bloomberg (Febrero, 9)

Triple trouble. Are AAA ratings bad for firms’ health?
The economist (Febrero, 5)

598,000 Jobs Lost in January
BusinessWeek (Febrero, 6)

Bank of America or THE Bank of America?
CNNMoney (Febrero, 6)

Stocks jump despite job cuts
CNNMoney (Febrero, 6)

Oil falls below $40 as U.S. job losses mount
Reuters (Febrero, 6)

U.S job losses accelerate
Reuters (Febrero, 6)

Stocks in a struggle
CNNMoney (Febrero, 4)

Citigroup deploys $36.5 billion, eyes exit on mets
Reuters (Febrero, 3)

Auto sales hit 27-year low
Reuters (Febrero, 3)

Oil rises as OPEC cuts production
CNNMoney (Febrero, 3) del 2009

Big opportunities for small banks
CNNMoney (Febrero, 3)

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