The Credit Crisis Reloaded

[marmar]

‘Lack of Trust’ Pummels Bank Lending in Europe: Credit Markets
By Pierre Paulden and Shannon D. Harrington


May 17 (Bloomberg) -- Money markets are showing rising levels of mistrust between Europe’s banks on concern an almost $1 trillion bailout package won’t prevent a sovereign debt default that might trigger a breakup of the euro.

Royal Bank of Scotland Group Plc and Barclays Plc led financial firms punished by rising borrowing costs, British Bankers’ Association data show. The cost to hedge against losses on European bank bonds is 63 percent higher than a month earlier. Investment-grade corporate debt sales in the region plummeted 88 percent last week to $1.2 billion from the prior period, according to data compiled by Bloomberg.

The rate banks say they charge each other for three-month loans in dollars is the highest in nine months, even after a government-led rescue designed to prevent Greece from defaulting on its debt and a new financial crisis. The euro is trading at its weakest level versus the dollar since the aftermath of Lehman Brothers Holdings Inc.’s collapse, and stocks tumbled.

Bank lending “conveys a lack of trust in the system,” said Robert Baur, chief global economist at Des Moines, Iowa- based Principal Global Investors, which manages $222 billion. “Banks are a little reluctant to lend overnight as they don’t know the full extent of what is on the bank balance sheets.” ...........(more)

The complete piece is at: http://www.bloomberg.com/apps/news?pid=20601087&sid=aH4XJoV4TE4w&pos=3

[Jim Sagle]

1. Same shit, different continent.

[RandomThoughts]

3. Interesting reference.

Would be sad to be alone. That is from desperado.

I would rather walk the boarder line, although I know I will never be alone, and know that song is not about my situation, by having feeling.
Eagles - Desperado
http://www.youtube.com/watch?v=b8vtYBbhINM



Trusting on Grace right now.

You can do magic. A false delusion of self power is what many have that think they are special. And the delusion of self first.
http://video.yahoo.com/watch/267181/1834330

Not spending or earning as in money, or living in that concept, just playing music.



FireFox
http://www.youtube.com/watch?v=R0zzz3f9VpI

Point set.
http://www.youtube.com/watch?v=uoE8cfP8gj0

Pittsburgh Penguins Goal Horn 2008-09
http://www.youtube.com/watch?v=B4BeelXQomE




More jumpers coming in.
Billy Joel, Goodnight Saigon
http://www.youtube.com/watch?v=ZpRuKyksxks


Draggin' the line.
http://www.youtube.com/watch?v=73Vp1EGCYlQ




(Don't read to much into that one picture in the clip, it is bless those that curse you.)

[Greyhound]

2. K&R. Another small step...