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  #2481  
Old 15.01.2016, 13:16
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Re: Financial Crisis Bank News [was: How Safe is UBS?]

it is indeed a big mystery why the banking sector has not yet been cleaned up 8 years after the credit crisis. First governments could not be too tough on banks as they would collapse with all kinds of effects unknown in that period. one would have expected some kind of redesign now things are more stable. maybe a I am missing something...?
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  #2482  
Old 20.01.2016, 18:16
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Re: Financial Crisis Bank News [was: How Safe is UBS?]

A year or so ago I surmised whether Deutsche Bank would be the first of the big European banks to go belly up. Well the stock quote for that bank is looking ever more precarious.

Anyone with dollops of funds in it might maybe wonder if exposure to that bank is a good idea.

Last edited by spalebärg; 17.12.2021 at 21:50.
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  #2483  
Old 20.01.2016, 18:21
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Re: Financial Crisis Bank News [was: How Safe is UBS?]

Oops, some Zero Hedge info. on DB

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  #2484  
Old 20.01.2016, 20:47
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Re: Financial Crisis Bank News [was: How Safe is UBS?]

so change the thread name to How safe is Deutsche then
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  #2485  
Old 21.01.2016, 09:09
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Re: Financial Crisis Bank News [was: How Safe is UBS?]

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so change the thread name to How safe is Deutsche then
To me my last 2 posts seem completely compatible with the new title, ie. "Financial Crisis Bank News". Ok, DB may be a German and not a Swiss bank but it's a major European bank and any English speakers here in CH with an account with them might well appreciate a 'word of warning from the watchtower' in these times.
Let's not forget DB is a main counter party of the likes of Glencore (Swiss?) and other distressed commodity trading companies.
For proportion think 2008 - Bear Stearns - Lehman etc.
Remember also that virtually all European countries have recently passed legislation allowing banks in distress to 'bail in' from customers deposit accounts a la Cyprus & Greece.
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  #2486  
Old 21.01.2016, 09:30
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Re: Financial Crisis Bank News [was: How Safe is UBS?]

The DB book is clearly over exposed, however it may also be worth noting that not all that exposure could happen. In other words some of the exotics may never be called.
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  #2487  
Old 21.01.2016, 21:15
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Re: Financial Crisis Bank News [was: How Safe is UBS?]

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The DB book is clearly over exposed, however it may also be worth noting that not all that exposure could happen. In other words some of the exotics may never be called.
What happened with Basel III? This should no longer be possible.
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  #2488  
Old 22.01.2016, 16:52
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Re: Financial Crisis Bank News [was: How Safe is UBS?]

A Run On The Banks Begins In Italy As Italian Banking Stocks Collapse

So it's not just Douche Bag, oops I mean Deutsche Bank

Excerpt:
At this point, almost all of the major European indexes have entered bear market territory.
Just check out how far stocks have fallen in some of the largest European nations since their 52-week peak… (as of 20th Jan.)

United Kingdom: down 20 percent
Netherlands: down 22 percent
France: down 22 percent
Germany: down 24 percent
Turkey: down 24 percent
Italy: down 25 percent
Sweden: down 25 percent
Poland: down 26 percent
Portugal: down 28 percent
Spain: down 30 percent
Greece: down 44 percent
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  #2489  
Old 22.01.2016, 17:10
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Re: Financial Crisis Bank News [was: How Safe is UBS?]

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A Run On The Banks Begins In Italy As Italian Banking Stocks Collapse

So it's not just Douche Bag, oops I mean Deutsche Bank

Excerpt:
At this point, almost all of the major European indexes have entered bear market territory.
Just check out how far stocks have fallen in some of the largest European nations since their 52-week peak… (as of 20th Jan.)

United Kingdom: down 20 percent
Netherlands: down 22 percent
France: down 22 percent
Germany: down 24 percent
Turkey: down 24 percent
Italy: down 25 percent
Sweden: down 25 percent
Poland: down 26 percent
Portugal: down 28 percent
Spain: down 30 percent
Greece: down 44 percent
Hello, it's January 22 and the markets are spectacularly up today...
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  #2490  
Old 22.01.2016, 18:08
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Re: Financial Crisis Bank News [was: How Safe is UBS?]

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Hello, it's January 22 and the markets are spectacularly up today...
Mostly 1-3% hardly spectacular, that I would reserve for 8% plus in a day . just market noise TBH.
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  #2491  
Old 22.01.2016, 19:01
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Re: Financial Crisis Bank News [was: How Safe is UBS?]

Quote:
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A Run On The Banks Begins In Italy As Italian Banking Stocks Collapse

So it's not just Douche Bag, oops I mean Deutsche Bank

Excerpt:
At this point, almost all of the major European indexes have entered bear market territory.
Just check out how far stocks have fallen in some of the largest European nations since their 52-week peak… (as of 20th Jan.)

United Kingdom: down 20 percent
Netherlands: down 22 percent
France: down 22 percent
Germany: down 24 percent
Turkey: down 24 percent
Italy: down 25 percent
Sweden: down 25 percent
Poland: down 26 percent
Portugal: down 28 percent
Spain: down 30 percent
Greece: down 44 percent

Italian banks have only admitted to around 200Bn euro in bad loans
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  #2492  
Old 26.01.2016, 22:26
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Re: Financial Crisis Bank News [was: How Safe is UBS?]

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it is indeed a big mystery why the banking sector has not yet been cleaned up 8 years after the credit crisis. First governments could not be too tough on banks as they would collapse with all kinds of effects unknown in that period. one would have expected some kind of redesign now things are more stable. maybe a I am missing something...?
Occam's razor: The banksters pwn their politicians - through fat multi million directorships for ALL & ANY [!] former chancellors, to former banker advisors infesting the treasury, to jobs for leading politicians' kids, to to threats to leave the country, and much more in between... hence they can bring to market super new 'product innovations' such as: Bloomberg: Goldman Sachs Hawks CDOs Tainted by Credit Crisis Under New Name

Quote:
The 2008 financial crisis gave a few credit products a bad reputation.

Like collateralized debt obligations, known as CDOs. Or credit-default swaps. But now, a marriage of the two terms (using leverage, of course) is making a comeback -- it’s just being called something else.

Goldman Sachs Group Inc. is joining other banks in peddling something they’re referring to as a “bespoke tranche opportunity.” That’s essentially a CDO backed by single-name credit-default swaps, customized based on investors’ wishes. The pools of derivatives are cut into varying slices of risk that are sold to investors such as hedge funds.

The derivatives are similar to a product that became popular during the last credit boom and exacerbated losses when markets seized up. Demand for this sort of exotica is returning now and there’s no real surprise why. Everyone is searching for yield after more than six years of near-zero interest rates from the Federal Reserve, not to mention stimulus efforts by central banks in Japan and Europe.
Bloomberg is even following the banksters' narrative... DEBT has now been rebranded CREDIT

“bespoke tranche opportunity.” suits you, sir....
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  #2493  
Old 26.01.2016, 22:47
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Re: Financial Crisis Bank News [was: How Safe is UBS?]

Securitisation [the bundling, slicing & dicing of debt] is the key product innovation that the bankers have come up with this century.

This shiny new product has played a major part in the doubling, tripling and sometimes quadrupling of home prices within less than a decade across the planet, adding many, many years of additional graft for anyone servicing - let alone hoping to eventually pay off - the resultant huge mortgage. All those fees & bonuses don't come out of thin air.

Globalisation is of course a factor, together with trillions of newly printed money to bail out bankers with failed business models (whatever happened to capitalism & survival of the fittest?) - but securitisation is a significant (perhaps the leading - I'd be very interested in any studies if anyone has any links?) factor.

It's hence ironic that the this marvellous innovation of securitisation has played a large part in pricing out the bankers' own workers from ever owning their own home. The banks' response to the results of their own innovations:

Reuters: London rents too high even for young bankers

Quote:
"If you're a nurse trying to live in London, God knows what you'd do."
Quote:
While KPMG and Deloitte are thinking up ways of giving their London employees a helping hand, some large banks have come up with another solution: moving jobs out of the city or even out of the country.

Investment banks have started moving back office and IT jobs to Poland and Ireland to cut wage bills bloated by what they consider to be expensive UK-based workers.
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Why must we spend decades of our lives paying the bankers' interest on [debt|money|credit] that they magicked out of nothing but thin air?

Last edited by carver; 26.01.2016 at 22:59.
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  #2494  
Old 27.01.2016, 00:02
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Re: Financial Crisis Bank News [was: How Safe is UBS?]

Interesting review of the brilliant film 'The Big Short' - It's not Reuters or Bloomberg, but an alternative outlet: JournalStar.com: Robert Reich: 'The Big Short' and Bernie's plan to bust up Wall Street

Quote:
If you haven't yet seen "The Big Short" -- directed and co-written by Adam McKay, based on the nonfiction prize-winning book by Michael Lewis about the housing and credit bubble that triggered the Great Recession -- I recommend you do so.

Not only is the movie an enjoyable (if that's the right word) way to understand how the big banks screwed millions of Americans out of their homes, savings and jobs, and then got bailed out by taxpayers, but it's also a lesson in why they're on the way to doing all this again -- and how their political power continues to erode laws designed to prevent another crisis and to shield their executives from any accountability.

Most importantly, the movie shows why Bernie Sanders' plan to break up the biggest banks and reinstate the Glass-Steagall Act (separating investment from commercial banking) is necessary, and why Hillary Clinton's more modest plan is inadequate.
Quote:
The movie gets the story essentially right: Traders on the Street pushed high-risk mortgage loans, bundled them together into investments that hid the risks, got the major credit-rating agencies to give the bundles Triple-A ratings, and then sold them to unwary investors. It was a fraudulent Ponzi scheme that had to end badly -- and it did.

Yet since then, Wall Street and its hired guns (including most current Republican candidates for president) have tried to rewrite this history. They want us to believe the banks and investment houses were innocent victims of misguided government policies that gave mortgages to poor people who shouldn't have gotten them.

That's pure baloney. The boom in subprime mortgages was concentrated in the private market, not in government. Wall Street itself created the risky mortgage market. It sliced and diced junk mortgages into bundles that hid how bad they were. And it invented the derivatives and collateralized debt obligations that financed them

The fact is, more than 84 percent of the subprime mortgages in 2006 were issued by private institutions, along with nearly 83 percent of the subprime loans that went to low- and moderate-income borrowers that year.

Why has Wall Street been pushing its lie, blaming the government for what happened? And why has the Street (along with its right-wing apologists, and its outlets such as Rupert Murdoch's Wall Street Journal) so viciously attacked the movie "The Big Short"?
Please consider reading the rest of the article here: http://journalstar.com/news/opinion/...b18525f78.html

Quote:
In a world where the giant Wall Street banks didn't have huge political power, these measures might be enough. But, if you hadn't noticed, Wall Street wields extraordinary power.

Which helps explain why no Wall Street executive has been indicted for the fraudulent behavior that led up to the 2008 crash.
reminds me of this: Telegraph: A college student with no criminal record was jailed for six months on Thursday for stealing a £3.50 case of bottled water during a night of rioting.
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Why must we spend decades of our lives paying the bankers' interest on [debt|money|credit] that they magicked out of nothing but thin air?
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  #2495  
Old 27.01.2016, 10:07
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Re: Financial Crisis Bank News [was: How Safe is UBS?]

economic growth is firmly correlated with credit. no credit no growth. the idea to abandon credit is not the answer. All GDP growth in US after 2006 is to attributed to credit and not to innovation or productivity increases. The leverage that credit gives is just too powerful not to be used. Something so powerful should be very much controlled of course which brings me back on topic..
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  #2496  
Old 27.01.2016, 11:37
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Re: Financial Crisis Bank News [was: How Safe is UBS?]

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any English speakers here in CH with an account with them might well appreciate a 'word of warning from the watchtower' in these times.
Yes, I always read that magazine for my financial advice.

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Old 27.01.2016, 12:11
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Re: Financial Crisis Bank News [was: How Safe is UBS?]

well, unless said student was in a position to offer David Cameron a cushy Directorship after his retirement, why would he expect any special treatment??
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  #2498  
Old 28.01.2016, 12:18
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Re: Financial Crisis Bank News [was: How Safe is UBS?]

Thinking about it it might be appropriate on a Swiss site not to forget our host country. So let's look at the Schweizerische Kreditanstalt, or as they call it today Credit Suisse.
For the last 6 months or so their stocks seem to be on a long downhill slope as well.
Click here for the last year - CS
That would have been a good short for anyone with good predictive powers.
BTW If memory serves weren't they sacking a load of Brits recently in London?
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  #2499  
Old 28.01.2016, 12:22
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Re: Financial Crisis Bank News [was: How Safe is UBS?]

Yes, I seem to recall that too.


They also hired a CEO who a lot of people on this forum were holding high expectations of. Maybe unrealistically high ones.
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  #2500  
Old 31.01.2016, 02:58
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Re: Financial Crisis Bank News [was: How Safe is UBS?]

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Yes, I seem to recall that too.


They also hired a CEO who a lot of people on this forum were holding high expectations of. Maybe unrealistically high ones.
That is a good reason to rhen become worried about the quality since EF is just a load of opinions that have limitedd knowledge
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