Post Tagged with: "Hypo Real Estate"
News from around the web: 2009-11-05
Be sure to see William Shatner’s poetic reading of Levi Johnston’s tweets below. Pretty funny. Buffett Revisits Hunting Ground for Survivors: Alice Schroeder – Bloomberg.com "Buffett isn’t as bullish as he sounds." Clever fools: Why a high IQ doesn’t mean you’re smart – New Scientist I have always said George W. Bush is NOT dumb.
News from around the web: 2009-10-08
Hypo Needs an Extra $10.2 Billion to Survive – WSJ.com "German real-estate financier Hypo Real Estate Holding AG needs an additional €7 billion ($10.2 billion) in capital from the German government to stay afloat and won’t return to profitability until 2012 at the earliest, Chief Executive Axel Wieandt said at a shareholder meeting." When Old
News from around the web: 2009-09-14
‘False dawn’ in UK housing market "It’s tempting to call the turn in the mortgage market at this point, and there is certainly concrete evidence that lending for house purchase is increasing," said the CML’s economist Paul Samter. "But there are still constraints affecting the lending industry’s capacity to fund increased lending, as well as
Weakest employment market since the Great Depression
Recently Allan Meltzer, a former Vice Chairman of the Federal Reserve, wrote a widely noted and provocative article in the Wall Street Journal called “What Happened to the ‘Depression?’” He called for an end to deficit-inducing stimulus because the cries of Depression from noted mainstream economists has been proven false. His thesis is that these
Spain: Bleak forecast puts unemployment at 22% in 2010
Citigroup has just released a forecast which is very troublingregarding employment and growth in the Spanish economy. With unemployment already having hit 17.9%, Citigroup expects layoffs to increase this to 22% in 2010. Below is my translation of the Spanish-language article in Finanzas. The stabilization that the Spanish labour market seems to have shown, with
Hypo Real Estate need for 10 billion also reveals huge problems in Spain
Every country has a problem child or two in the financial services sector. America has Citigroup and Bank of America. Britain has RBS and HBOS/Lloyds. And Germany has Hypo Real Estate. I have been chronicling problems at the real estate lender on this blog for some time now and last posted on HRE in April
Links: 2009-06-24
I have bee off for a couple of days but plan on returned to full force later today. Here are the links from the past few days minus tech and blog-related items. If I have a lot more links, I will post them this evening. El Banco de Espana exige que se liquiden los bancos
The Germans get tough with the state banks
Last week I wrote a post suggesting that the Germans were getting tired of bailing out their banks and had moved to more draconian solutions to ‘fix’ the banking sector. Nationalizing Hypo Real Estate this week will be the first move in that direction. But the Germans are not nearly finished in their effort to
HRE: defusing the German financial time bomb
The first bank nationalization in German history is about to take place. At issue is Hypo Real Estate (HRE), a troubled Munich-based company that lends to commercial property developers and to build offices, hotels, roads, airports, you name it. This issue has been building for nearly 7 months. Back in late September, just after Lehman
German banks loaded with 816 billion in toxic paper
On Friday, the German daily Süddeutsche Zeitung (SZ) leaked a bombshell – a confidential report by Bafin, the Federal Financial Supervisory Authority, found that German banks were sitting on over 800 billion euros in toxic assets. Just three months ago, the reports coming out suggested the problem was only half as large, 400 billion euros
Links: 2009-04-25
Markets Cheer Stress Test Double Speak – Yves Smith I think the title speaks for itself. Auctions for Troubled Property Loans Jump to the Web – NY Times Perhaps this additional channel for the loans will help clear the underlying housing inventory. Interesting development in any event. Not for the faint of heart. Funds try
Links: 2009-04-04
I have a ton of links today, so I have broken then out into sections. See the news feed for other stories. Finance Inside Obama’s bank CEOs meeting – Eamon Javers – POLITICO.com “My administration,” the president added, “is the only thing between you and the pitchforks.” Lehman Brothers’ Dick Fuld Has a New Gig