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Street com they say hit from all sides European Bank stocks swoon to 1988 low leaks about Money Laundering a resurgent pandemic china risks exposure to turkeys financial crisis all in a negative Interest Rate environment that is toxic for banks so the stocks 600. 00 banks and x. Which covers major European Banks slumped 5. 7 percent on monday to close at 81. 00 just a smidgen above the mall 5 decade low of 79. 00 set in march the last time before march that the index was below todays level was february of 1988 during the sell off that followed black monday in october 1907 when it also slumped as low as 79. 00 the index has collapsed by 85 percent since its peak and may 2007 after having quadrupled over the preceding 12 years its looking bad right. I mean 1988 and the ....
The solution then was to extend Bank Credit Facilities thats how Alan GreenspanRonald Reagan and robert rubin the plunge Protection Team or that working group on finance the president S Working Group on finance decided that they would solve this problem by not punishing or reforming but expanding the credit line of these banks so they did exactly what they were doing but on a bigger scale and then we have of course another major move down in 1989 we had a bomb crash more or less 9093 we had the dot com crash in 2000 we had the 2008 subprime crash and each one of these crashes were caused by the exact same thing over indebtedness too much leverage and no accountability no than foresman of regulations b ....
For example the south china bank and Standard Chartered have taken out big pages in the newspapers here to tell people that actually. This continues on rest is having an impact on the economy and they do really forecast a grim quarter i head now Southeast AsiaBank Actually went further by saying that not only the unrest here but also the trade war between china and the u. S. Have made it that it has made as 70 a drop of 75 percent in the drop in profits in the 1st half of the year i mean i have to say also were here now to a gathering of High School Students about to start but they were for example this tribute this leaflet it has a long list of businesses and restaurants starbucks. For example that they perceive as being probably gene and they have been c ....
On tv and radio. Im Jonathan Ferro. Tk taking a break, equity market soft, down a 30 on the s p 500. The bowls on wall street getting more bullish. Now looking for 4900 on the 400, the price target set at the end of december. He was bullish and right to be. He raises his price target. City are looking for 5000 by the middle of next year. It is record high watch on the street. Lisa and the potential for a 28 gain this year, the biggest going back to one to 19. Can we get the start of a new bull market given some of the increasing credit contraction, the softening in Economic Indicators check out could this be the start of a new bull market as many are calling for . Jonathan i loved what scott cronin had to say. Clearly we were chasing the tape. Growing conviction in years earnings acceleration is a key point of differentiation. He is looking for earnings to accelerate int ....
The judge described Oliver Schmidt as a key conspirator in this scheme to defraud the united states. Andrew plant reports. Oliver schmidt, once one of volkswagens top american employees, now sentenced to seven years in prison. A car manufacturer in a competitive market, vw admitted fitting around 11 million diesel cars with what is called a defeat device. It meant the cars could sense when they were running in the uniformed conditions of a testing lab and automatically reduced their emissions. Cheating a test the vehicles should never have passed. It meant that schmidt was able to certify that vw diesels complied with strict american standards and that meant boosting sales targeting environmentally conscious customers with supposedly cleaner cars. The scandal came to light in 2015. Oliver schmidt is the second employee sent to prison. A veteran vw engineer was given a0 months in august. Schmidt was arrested while on holiday in mia ....