Free Republic

This could probably explain a lot. According to the FT, which has managed to sneak a peek into Kweku Adoboli aka, the scourge of UBS, Facebook profile, in a July 31 update said: "Will they? Won’t they? Reduced to watching Fox News for guidance, it’s a grim affair". It appears that Adoboli should thus be commended - under those conditions we believe it is a miracle a person's loss can be confined to just $2 billion. FT continues with the cyberstalking: " That was followed a week later amid steep market falls, by an entry that read: “Can we shut...

The eurozone's runaway debt crisis is dragging down growth, the EU warned on Thursday as finance ministers headed to key talks and central banks rode to rescue of the cash-starved lenders. The European Central Bank, along with its US, Japanese, Swiss and British counterparts, announced they would inject extra dollar liquidity into banks facing a shortage of the US currency. European bank shares have plunged over the past weeks as their usual sources of dollars have dried up on concerns they might be hit by a Greek debt default, and the announcement sparked a strong bank and general stocks rally....

German Chancellor Angela Merkel no longer has enough coalition votes in the Bundestag to secure backing for Europe's revamped rescue machinery, threatening a consitutional crisis in Germany and a fresh eruption of the euro debt saga. Mrs Merkel has cancelled a high-profile trip to Russia on September 7, the crucial day when the package goes to the Bundestag and the country's constitutional court rules on the legality of the EU's bail-out machinery. If the court rules that the €440bn rescue fund (EFSF) breaches Treaty law or undermines German fiscal sovereignty, it risks setting off an instant brushfire across monetary union....

According to Pence’s press release: “The American people are fed up with taxpayer-funded bailouts and deserve to know we are bailing out Greece and possibly other European countries. If the Obama Administration has its way, the U.S. will contribute to a nearly trillion dollar bailout of European countries with economic crises that are a direct result of wasteful government spending. “This legislation would require that countries like Greece cut spending and put their own fiscal house in order, instead of looking to the United States for a bailout. We face record unemployment and a debt crisis of our own, and...

BRUSSELS (Reuters) - Global policymakers unleashed an emergency rescue package worth about $1 trillion to stabilize world financial markets and prevent the Greek debt crisis from destroying the euro currency. The rescue, hammered out by European Union finance ministers, central bankers and the International Monetary Fund in marathon talks at the weekend, was the largest package in over two years since G20 leaders threw money at the global economy following the collapse of Lehman Brothers. The size of the package surprised financial analysts and the euro rose close to 2 percent while stocks in Asia firmed. The U.S. Federal Reserve...

WASHINGTON (MarketWatch) -- European finance ministers and central bankers agreed late Sunday on a new loan program that could top 750 billion euros ($970.6 billion), designed to keep the Greek debt crisis from spreading to other vulnerable European countries.European finance ministers hammered out a safety net worth as much as 500 billion euros for struggling governments. The International Monetary Fund could contribute an additional 250 billion euros, officials said. The deal came after a full day and night of closed-door meetings in Brussels. The finance ministers held a joint press conference shortly after the opening of Asian markets -- well...