Some tax issues to consider on mortgage write-downs (Washington Post) 12 Mar 2010
With the Obama administration and private lenders actively considering mortgage principal-reduction programs to help financially distressed homeowners, the Internal Revenue Service has issued a new advisory to taxpayers who receive — or seek to receive — such assistance. The IRS gets involved in…
Some tax issues to consider on mortgage write-downs (Washington Post) 12 Mar 2010
With the Obama administration and private lenders actively considering mortgage principal-reduction programs to help financially distressed homeowners, the Internal Revenue Service has issued a new advisory to taxpayers who receive — or seek to receive — such assistance. The IRS gets involved in mortgage principal write-downs because the federal tax code generally treats any forgiveness of …
Simon Halabi’s £900m office empire up for sale after debt default (Daily Telegraph) 12 Mar 2010
The £900m London office empire of Simon Halabi has been officially put up for sale after a default on the debt secured against the portfolio.
Credit Default Swaps: SEC Asks Congress To Regulate Trades Happening ‘In The Dark’ (The Huffington Post) 12 Mar 2010
The top U.S. securities regulator said market watchdogs need to supervise credit default swaps, securities blamed for exacerbating 2008’s market meltdown and more recently the Greek debt crisis.
Euro Evaporation Leading To Credit Default Swaps And IMF Gold (GoldSeek.com) 12 Mar 2010
By: Trace Mayer, J.D. The IMF gold has serious geo-political ramifications in the background because of the nature of foreign exchange reserves, credit default swaps and gold.
Corporate Bond Risk Falls in Europe, Credit-Default Swaps Show (Bloomberg) 12 Mar 2010
March 12 (Bloomberg) — The cost of insuring against default on European corporate bonds fell, according to traders of credit-default swaps.
Central, East European countries seen less vulnerable from default risk (People’s Daily) 12 Mar 2010
Financial market’s sentiment toward sovereign debt in the countries of the Central and Eastern Europe (CEE) began to reflect calmer waters as countries in the region announced austerity measures to curb the fiscal deficits. Rating companies are still precautious and send different signals describing the particular risks, but the outlook is brighter in some cases. Standard & Poor’s on Tuesday …
Central, East European countries seen less vulnerable from default risk (People’s Daily) 12 Mar 2010
Financial market’s sentiment toward sovereign debt in the countries of the Central and Eastern Europe (CEE) began to reflect calmer waters as countries in the region announced austerity measures to curb the fiscal deficits. Rating companies are still precautious and send different signals describing the particular risks, but the outlook is brighter in some cases. Standard & Poor’s on Tuesday …
Market Commentary and Intraday News (INO News) 11 Mar 2010
(RTTNews) - Fitch Ratings on Friday placed Vietnam’s respective Long-term foreign and local currency Issuer Default Rating or IDR of ‘BB-’ on Rating Watch Negative. The agency also placed the country’s Short-term foreign currency IDR of ‘B’ and Country Ceiling of ‘BB-’ on Rating Watch Negative.
SEC head urges Congress to act on derivatives (Washington Post) 11 Mar 2010
WASHINGTON — The government’s top securities regulator called Thursday for Congress to impose new oversight on financial derivatives, warning that allowing risky instruments like credit default swaps to continue unfettered could bring further economic damage.
Japan, Australia Bond Risk Falls, Credit-Default Prices Show (Bloomberg) 11 Mar 2010
March 12 (Bloomberg) — The cost of protecting corporate bonds from non-payment fell in Australia and Japan, according to traders of credit-default swaps.
SEC head urges Congress to act on derivatives (San Diego Union-Tribune) 11 Mar 2010
The government’s top securities regulator is calling anew for Congress to impose new oversight on financial derivatives, warning that allowing risky instruments like credit default swaps to continue unfettered could bring new economic damage.
Default Procedure in CDS Trades to Be Discussed at EU Meeting (Bloomberg) 11 Mar 2010
March 11 (Bloomberg) — Central clearing of derivatives including credit-default swaps will come under scrutiny as part of efforts to safeguard the European Union’s financial system in the wake of the credit crunch.
Credit Default Swaps Ban: Sarkozy, Merkel Propose Eliminating Some CDS Trades (The Huffington Post) 11 Mar 2010
What’s Your Reaction? The letter, which Sarkozy’s office released Thursday, also says the EU should consider banning speculative trading in credit default swaps and consider legislation to curb market abuses, and improve the safety of private derivative trading.
Four Seasons’ owners say deal ends loan default (San Francisco Chronicle) 11 Mar 2010
The owners of San Francisco’s Four Seasons Hotel said Wednesday they are no longer in default on a $90 million loan after joining forces with an investment partner who will take a significant ownership interest in the property. Millennium Partners has teamed…