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Norb Vonnegut: Euro: If It's Broke, Don't Fix It?
The Huffington Post, Feb 26, 2010 / The euro, which traded at $1.51 in December, now trades around $1.35. With traders using leverage -- often borrowing 20 times the size of their bet, accentuating gains and losses -- a euro move to $1 could represent a career trade.
US probes Wall Street firms' Greece role
South China Morning Post - Hong Kong, Feb 26, 2010 / United States regulators are probing how Wall Street firms such as Goldman Sachs helped debt-stricken Greece arrange derivatives deals that critics say were used to disguise the size of its budget deficits.
Why Greece won't default
The Christian Science Monitor , Feb 26, 2010 / The Greek bond panic has been driven by two concerns: either that Greece will exit the euro and try to convert their euro bonds into "New Drachmas" (or whatever the reintroduced Greek national currency would be called).
European support for Greece remains vague
United Press International (UPI), Feb 26, 2010 / Finance Minister Luc Frieden of Luxembourg said the European Union was still committed to helping Greece lower its debt, but offered no specifics.
Why Greece won't default
The Christian Science Monitor, Feb 26, 2010 / The Greek bond panic has been driven by two concerns: either that Greece will exit the euro and try to convert their euro bonds into "New Drachmas" (or whatever the reintroduced Greek national currency would be called).
Dollar Slips vs. Euro
WIBW Channel 13 - Topeka KS, Feb 26, 2010 / The dollar was mixed Friday as concerns about Greece's debt problems faded on the absence of news and ahead of the release of economic data, including the government's second reading of the U.S. economy's fourth-quarter growth.
Bernanke Wants Answers on Goldman Role in Greece
FinanceTech (CMP), Feb 26, 2010 / U.S. regulators are probing how Wall Street firms like Goldman Sachs helped debt-stricken Greece arrange derivatives deals that critics say were used to disguise the size of its budget deficits.
Economic Outlook: Scuttling Greece
United Press International (UPI), Feb 26, 2010 / As Greece or Spain or Ireland flounders, so goes the currency used in France, Finland and Italy.
Euro rise after Greece budget; stocks firm
Financial Mirror - Cyprus, Feb 26, 2010 / The euro rose while euro zone government bonds fell on Friday after Greece revealed higher-than-expected budget revenues, while expectations for solid corporate results pushed world stocks higher.
Not Again - Credit Default Swaps Pushing Greece To The Brink Of Default
Grace Cheng's Forex Blog, Feb 26, 2010 / Credit default swaps (CDS) gained infamy in the early stages of the financial crisis as the murky derivatives that helped drive the likes of Lehman Bros and Bear Stearns into bankruptcy.
Bernanke: Fed probing 'bets' on Greek default
The Lowell Sun - Lowell MA, Feb 26, 2010 / Federal Reserve Chairman Ben Bernanke told lawmakers yesterday that the central bank is looking into the use by Goldman Sachs and other Wall Street firms of a sophisticated investment instrument to make bets that Greece will default on its debt.
Top US hedge fund managers plot killings from euro woes at "idea dinner" in Manhattan
New York City News - New York NY, Feb 26, 2010 / Top US hedge fund managers are wagering big bets against the euro and at an "idea dinner" at a private townhouse in Manhattan, earlier this month, they plotted how they could make big killings from euro woes and the Greek crisis.
Beware Of Greeks Bearing Bad News
24/7 Wall Street, Feb 26, 2010 / The bad news was compounded by a decision to delay a bond offering by the Greek government which was to raise $3 billion in much-needed money.
Greek Debt and U.S. Job Sector Weigh on Investors
DealBook - The New York Times, Feb 26, 2010 / A tense day for Wall Street ended with a tinge of hope, as a rise in commodity prices helped temper anxiety about Greek debt and the American jobs market.
US to probe Goldman involvement in Greek crisis
Citywire - UK, Feb 26, 2010 / US Federal Reserve chairman Ben Bernanke has pledged to investigate Goldman Sach's involvement in Greek derivative strategies allegedly used to mislead the state's creditors.
Greek PM says worst fears...
Townhall.com , Feb 26, 2010 / Greek Prime Minister George Papandreou told parliament on Friday, after a visit by EU economic inspectors, that the worst fears about Greece's economy had been confirmed.
Credit Default Swaps and Deflation
Invest2Success, Feb 26, 2010 / Government debt is no longer just a problem for emerging countries.
Fed eyes Greek debt contracts
Cecil Whig - Elkton MD, Feb 26, 2010 / The Federal Reserve and Securities and Exchange Commission are seeking information about whether Goldman Sachs and other U.S. firms helped set up financial transactions over the past decade that effectively hid the amount of debt Greece was taking on.
Bumpy ride continues
The Pueblo Chieftain - Pueblo CO, Feb 26, 2010 / Stocks fell Thursday on worsening economic data but closed well off their lows as investors set aside some concerns about Greece's rising debt.
US Fed examines Goldman deals in Greece
Asia One, Feb 26, 2010 / The US Federal Reserve is reviewing the role of Goldman Sachs and other firms to helped Greece hide its debt problems, chairman Ben Bernanke said Thursday.
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'American Idol' pares down to 12 finalists
The Cincinnati Enquirer - Cincinnati OH
The Cincinnati Enquirer - Cincinnati OH, 12 minutes ago/ After the audience voted, the singing contest said goodbye Thursday to Alex Lambert of North Richland Hills, Texas; Todrick Hall of Arlington, Texas; Lilly Scott of Littleton, Colo. and Katelyn Epperly of West Des Moines, Iowa. It was no surprise that the judge's favorite from previous weeks, Michael "Big Mike" Lynche, made the cut.
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Janet Yellen Is Said to Be Picked for a Fed Seat
The New York Times - New York NY
The New York Times - New York NY, 11 minutes ago/ The Obama administration has settled on Janet L. Yellen, president of the Federal Reserve Bank of San Francisco, to serve as vice chairwoman of the Federal Reserve , a senior administration official said on Thursday night.
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GaGa is so canny
The Daily Mirror - London - UK
The Daily Mirror - London - UK, Mar 10, 2010/ Outrageous Lady GaGa proves that she's a pop star in more ways than one in her new video - while Beyonce answers the call to look stunning.
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Wolfpack gets 59-57 upset of Clemson
The News & Observer - Raleigh NC
The News & Observer - Raleigh NC, 16 minutes ago/ Tracy Smith scored 19 points to lead State to its fourth win in five games after a 3-10 ACC start.
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NBA: Orlando cruises to 7th win in a row
The Mercury News - San Jose CA
The Mercury News - San Jose CA, 17 minutes ago/ Vince Carter had 23 points to help the Orlando Magic pull away early and cruise past the Chicago Bulls, 111-82 on Thursday night for a season-high seventh straight win.
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Politics Daily
- Move to Kill Filibuster Gaining Steam Among Democrats
- Christian Leader Calls for Glenn Beck Boycott Over Social Justice Comments
- New York AG Andrew Cuomo Recuses Himself from David Paterson Probes
- Senate Wont Follow House Ban on For-Profit Earmarks
- Brothers at War Documentary Explores Iraqs Impact on a Family
Sports
- AP sources: Woods likely to return at Masters
- Butlers 3 lifts West Virginia in Big East tourney
- Marquette hangs on to beat No. 10 Villanova 80-76
- Schwartzel takes lead at Doral
- Football Hall of Famer, TV star Olsen dies at 69
Money
- Lenovo says business will focus on mobile Internet
- Asia stocks mixed as traders await economic clues
- Report: Obama to tap Yellen to be Fed vice chair
- Oil hovers above $82 as month-long rally stalls
- Money fund assets fell to $3.090T in latest week
Technology
- Illustrating with Google Maps, iPad Pre-Sale Starts Tomorrow
- Giant Kite Plus Hydroelectric Turbine Equals Innovative, Floating Power Plant
- Future LEDs Could Transfer Data, Light Up Your Room
- Cantor Exchange Lets Movie Buffs Bet on Box Office Success
- Wiebe-Mitchell Donky Kong War Upstaged by Unknown Rookie
Health
- Study suggests too many invasive heart tests given
- Panel: Women need chance to avoid repeat C-section
- CDC uses shopper-card data to trace salmonella
- Hoped-for drop in childbirth deaths not happening
- Researchers: AIDS virus can hide in bone marrow