Daily Digest 3/1 - Four New Middle East Dangers, More Customers Leaving Big Banks, How Deep Are The ECB's Pockets?
- More Customers Leaving Big Banks
- Four New Dangers In The Middle East
- Note from Athens: Feeling on the Ground Has Palpably Changed
- Tavakoli: The Great MF Global Comedy Cover Up
- What Is Everyone Waiting For?
- FDA issues new warning on Lipitor, Zocor, other statins
- Europe Banks Hungry For Second Helpings
- Banks borrow €530bn from ECB scheme
- Is War Imminent? US and UK Step up Military Action in the Persian Gulf
- How deep are the ECB’s pockets?
- No Criminal Case, But MF Global May Possibly Face a Fine of Up To $140,000
- Global Fuel Shortage Would Grow Without Iran’s Supply, U.S. Says
- Nation's largest public Food Forest takes root on Beacon Hill
More Customers Leaving Big Banks (June C.)
These smaller institutions were also able to attract many of the customers who left the big banks. Over the course of last year, 10.3% of customers who shopped for a new bank landed at these smaller institutions -- up from 8.1% in the prior year.
Four New Dangers In The Middle East (David B.)
I know. After six decades of on-again-off-again Middle East conflicts, it’s easy to become inured to the steady drone of alarming headlines … the hyperbole of so-called Middle East experts … and the never-ending sable-rattling of the protagonists.
Many of the Greeks with whom I spoke also expressed a visceral bitterness towards the troika. This underlies the epic breakdown in trust between the troika and Greece, which has recently been reflected in the discourse between the two sides as they have negotiated a second bailout. Troika representatives have clearly noted the antagonism with which they are met in Athens, as they have quadrupled the number of bodyguards in their entourages over the past year.
I wonder which mainstream news media program will finally interview someone informed and honest on the MF Global story, and bring this injustice to the awareness of the public. I have heard that they will attempt to drag this investigation out until after the national elections in November, but if it comes out before that it will be wrapped up in a "don't ask don't tell admit no guilt" settlement.
City Council President Pro-Tem Gary Brown told me in an interview today the city needs $60 million to make its monthly bills, and it doesn’t take a CPA to figure out Detroit’s living on borrowed time. But Brown says the city spends $360,000 a day more than it brings in which allows the debt to balloon out of control. So, not only is it on borrowed time, it’s living on borrowed money and the credit card will soon get maxed out. Could a payless pay day be on the horizon? Certainly!
Dr. Amy Egan, the FDA's deputy director for safety of metabolic and endocrinological products, said "these cognitive changes can be quite dramatic" and "sustained," but that they do disappear when statin therapy is stopped. She cautioned that the agency isn't able to identify a specific drug or age group of people who might be prone to such cases of memory loss and confusion, but that patients should notify their doctors if such symptoms occur.
Europe Banks Hungry For Second Helpings (ewilkerson)
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It has been likened to a sugar rush for markets, especially for government bonds issued by heavily indebted eurozone nations. But will the European Central Bank’s second offer of cheap three-year loans to banks on Wednesday inject new life into the rally?
Banks borrow €530bn from ECB scheme (ewilkerson)
The European Central Bank on Wednesday injected €529.5bn into the eurozone financial system as 800 European banks took advantage of the ECB’s cheap three-year loan programme. Consensus median forecast had predicted banks would tap about €500bn from the second phase of the ECB’s three-year, longer-term refinancing operation (LTRO), which offers lenders an interest rate of just 1 per cent.
David Sanger, the chief Washington correspondent for the New York Times, acknowledged that the US is manipulating the conflict in Syria in order to weaken Iran before the regime change. “The argument commonly heard inside and outside the White House these days is that if the Assad government cracks, Iran’s ability to funnel weapons to Hezbollah and Hamas will be badly damaged — and its influence will wither accordingly. Similarly, if Iran’s effort to walk up to the edge of a nuclear weapons capability can be set back with a few well-placed GBU-31 bunker-busters, the country’s hopes of challenging Israel and Saudi Arabia to be the region’s biggest power will be deferred.”
How deep are the ECB’s pockets? (ewilkerson)
The ECB’s exposure to peripheral sovereign debt and a host of other assets of dubious quality has sparked concerns about the central bank’s solvency.
Now the elite New York Times chimes in with its own version of the mysteriously vaporizing, blameless money meme. Maybe someone should look in Judge Crater's pockets, or Jimmy Hoffa's wallet.
Et tu, Gray Lady?
The examination of oil and fuel supplies and prices with and without Iran was prepared to help guide President Barack Obama’s administration in determining the feasibility of imposing sanctions related to Iranian oil trades through its central bank. Yesterday’s report was the first assessment issued under a Dec. 31 law that requires the EIA to provide an update on oil market conditions every 60 days.
Further down the path an edible arboretum full of exotic looking persimmons, mulberries, Asian pears, and Chinese haws will surround a sheltered classroom for community workshops. Looking over the whole seven acres, you'll see playgrounds and kid space full of thornless mini edibles adjacent to community gardening plots, native plant areas, a big timber-frame gazebo and gathering space with people barbecuing, a recreational field, and food as far as you can see.
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