"We live in a world in which we need to share responsibility. It's easy to say 'It's not my child, not my community, not my world, not my problem.' Then there are those who see the need and respond. I consider those people my heroes." - Fred Rogers
It's Mr. Rogers birthday today. The banks, financials and stock markets need a hero.
It will be a full moon in the UK this weekend. Overseas markets are none too happy today with the margin requirements on CFDs being moved from 25% to 90%. Oddly enough the FTSE is fairly flat.
"You are going to see a lot of forced selling," said one leading London stockbroker.
- no foreign travel for easter holidays by senior bank of england staff, supposedly means UK clearer in trouble.
- LLOY LN IR actually denied fundings probs.
- HBOS denied prob to Merril’s , but as yet, not to the mkt, still being sold.
- RBS annual report which was released last night apparently shows massive funding requirements.
- ARE UK BANKS THE SUB PRIME OF WORLD BANKING CONSIDERING THAT NONE HAVE CONFESSED TO ANY CREDIT PROBS YET, IS BARC MADE OF TEFLON ?
- UBS, Swiss Govt apparently asked CSGN to put togther rescue package for UBS in case that the crisis worsens.
- Soc Gen, BNP says no merger interest, spec thats because they have more horrors
MF Global warning adds to market worries - Telegraph
http://ftalphaville.ft.com/blog/2008/03/19/11714/panicky-banks/
And then there's the plummeting gold price. I see a bottom forming today... or perhaps on Monday. Something about an election overseas is causing some tensions...
Two U.S. aircraft carriers, including the USS Kitty Hawk, have been sent to the Taiwan region for training exercises during this weekend's Taiwanese election, a U.S. defense official said on Wednesday.
http://news.yahoo.com/s/nm/usa_taiwan_carriers_dc;_ylt=Av2Uoji3qkE2UlCECsHrB_sDW7oF
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