We are going to take a brief look at a new topic which has been widely reported. Credit rating agencies and sovereign debt. Recently Standard & Poor’s downgraded America to AA+ from its very precious AAA credit rating, which was a severe blow to the US. Italy has suffered with the same problem, and (to state the obvious) so has Greece, and it’s all down to the amount of government borrowings (sovereign debt) that each country has accrued. It affects a country’s ability to borrow more money and more importantly – it can and might well do in the near future – bring down other countries with it if it were to default on its’ borrowings, so a less than perfect AAA credit rating is a much higher borrowing/lending risk and a cause for concern. The European Banking Authority has published a 2011 EU-wide stress testing exercise and the BIS has produced its September Quarterly Review, showing a weaker outlook for the economic climate. At the Business Insider they have published a list of the Euro banks’ exposure (derived from the BIS) if Greece defaults on its debt. Business Insider are also following the Goldman Sachs elevator tweets. Here’s one of the latest in this highly entertaining saga, which I am following.
I have been a registered user of the FT e-version for a quite a while now, and was very pleasantly surprised to receive a new e-mail service from them this week. It’s called the Best of the FT – and it’s a new-look monthly newsletter for registered users. It’s free – of course – or I wouldn’t highlight it for you. The FT says “This issue we spotlight the FT Trading Room, highlight the FT’s Future of Banking Global Banking in depth series and showcase the very latest FT special reports.
Plus latest FT headlines, hidden gems and must-reads.” Register yourself and enjoy all the reports that are provided from a diverse selection of articles, special reports, banking and finance, luxury goods, country reports and much more. KPMG has been selected to lead the probe into the UBS trading scandal. I read it in the FT.
I have previously written about LifeHacker because I have learned so much from reading this particular blog. Back in August there was an article called How to use your dark side for good, written by Adam Dachis. The article takes us through many ways to put us (the good guys) at an advantage when we are at the potential mercy of the bad guys. Adam says “For example, it’s unquestionably useful to understand whether you’re a good victim and what makes you a good target. If you know why you’re being selected by the bad guys as a good mark, you can look at the different methods they may use and consider how you can counteract them.” He’s used some good visual examples (Pinnochio and the not-so-friendly bunnies from Wallace & Gromits’ The Wererabbit, for instance.
Finally Guido Fawkes highlights a Sara Teather stand-up routine at conference, that was so not funny it was just sheer embarrassment, and it made me cringe. I should stick to politics if I were her, because comedy is definitely not her forte.
That’s all for now. Back again soon.