Articles By Eleazar David Meléndez
Late Monday, word leaked out that European Central Bank President Mario Draghi is now saying the ECB should print reams of new euros to buy bonds issued by governments -- even though such a policy is adamantly opposed by the German political establishment.
Banco Santander's announcement that it would be spinning off nearly one-quarter of its Mexican unit in an initial public offering later this month was greeted by the markets as a seemingly win-win proposition. But the move by the large Spanish bank only highlights the increased dependence Iberian banks have had on their overseas branches over the past few years.
It seemed everyone was claiming their crystal ball has been right in anticipation of a much-hyped speech by the world's most powerful central banker, who managed to turn the attention of traders around the world to his podium in bucolic Jackson Hole, Wyo. Friday. They were all right and, as usually happens in such cases, they were also all wrong.
Two years after Federal Reserve Chairman Ben Bernanke announced plans for a massive second round of monetary stimulus -- so called QE2 -- at a yearly Fed summit in Jackson Hole, Wyo., the world's most powerful central banker returns, with markets primed for him to deliver on even more stimulus.
Market-watchers continued to use words like "anticipation," "expectations," "disappointment" and "excitement" Thursday, less than 24 hours ahead of a speech by Federal Reserve chairman Ben Bernanke that is being hyped up as a make-or-break moment for economic affairs in 2012.
American Airlines' bankrupt parent AMR Corporation (PINK:AAMRQ), which is arguing in federal court it needs hundreds of millions of dollars in contract concessions from its employees in order to survive as a going concern, is planning to spend hundreds of thousands of dollars to entice a small group of hedge funds to invest in the company.
In spite of a cheery assessment recently from the country's central bankers that led projections of 2012 GDP to be raised -- to 3.5 percent -- while views on inflation were lowered, recent days have seen growing signs of economic distress emanating from Australia.
The faithful within both the Republican and Democratic folds claim their chosen party leaders are champions of the American middle class. But the independents who form the largest slice of that vast demographic overwhelmingly aren't buying it.
While the world braces for the next euro zone fiscal crisis flare-up, an analyst at Japanese financial conglomerate Nomura suggests that whatever bad news is just around the corner will not damage global economies as much as such crises once did.
The announcement Wednesday that the notoriously fangless British Financial Services Authority is going after the most blatant fraudsters in UK finance opened a window on some of the sleaziest financial hucksterism in Great Britain.