According to Xinhua News Agency reported that one of the three major rating agencies Standard & Poor’s on Tuesday lowered the world’s 15 commercial banks, credit rating, including the four major U.S. banks. S & P lowered the JP Morgan Chase, Bank of America, Citibank and Wells Fargo’s credit rating, which subsequently refuted Citibank spokesman [...]

Will provide liquidity to the financial system According to Xinhua News Agency, 30 Federal Reserve, European Central Bank, Bank of England, Bank of Japan, Bank of Canada’s six major central banks and the Swiss central bank announced it will provide liquidity to the global financial system to take joint action to cut the existing 125 [...]

1130 Day, Joseph Stiglitz and Robert Mundell Nobel Laureate in Economics, while two appeared Beijing “2012 World Economic Outlook Forum.” Stiglitz said that the current situation in Europe and America could get worse. “The U.S. and European debt problem is not the most serious problems, the most serious problem is the unemployment rate is too [...]

Number before the collapse of the euro was considered simply inconceivable. But as the situation deteriorated again and again, especially in Italy within a week, and German bond auction of the “horrors” that collapse of speculation is becoming a reality together, and wait for the final ignited a fuse. “We are preparing contingency plans.” 1129, [...]

Editor’s Note talk of the “euro-zone collapse theory” clearly played a role. 1130 GMT on the evening, the Federal Reserve Bank cut the joint global five overnight swap rates to 0.5%, and swap agreements extended to 201321 days. Fed said in the announcement: “The lower interest rate swap designed to ease the tight money market [...]