Soros
Hedge Fund Charged For Bringing Down Greek Banks - (www.valuewalk.com) George Soros, the hedge fund manager credited with
“bringing down the Bank of England,” is at it again, this time in Greece;
although it does not seem the scale of the bet was anywhere near as large as Soros' GBP bet. Soros and his Quantum Fund are among 20 Hedge Funds who have waged a short war against Greek
banks and Hellenic regulators are now fighting back. Quantum Fund, along with
other major names such as Toscafund, Everest Capital and Abbeville Partners,
have all received fines in the past three months from the Hellenic Republic
Capital Market Commission, the Greek version of the U.S. Securities and
Exchange Commission.
Weekend of Fear in Greece as Monday Brings
Salvation or Ruin - (www.bloomberg.com) Dorothea
Lambros stood outside an HSBC branch in central Athens on Friday afternoon, an
envelope stuffed with cash in one hand and a 38,000 euro ($43,000) cashier’s
check in the other. She was a few minutes too late to make her deposit at the
London-based bank. She was too scared to take her life-savings back to her
Greek bank. She worried it wouldn’t survive the weekend. “I don’t know what
happens on Monday,” said Lambros, a 58-year-old government employee. Nobody
does. Every shifting deadline, every last-gasp effort has built up to this: a
nation that went to sleep on Friday not knowing what Monday will bring. A deal,
or more brinkmanship. Shuttered banks and empty cash machines, or a few more
days of euros in their pockets and drachmas in their past - - and maybe their
future. On a street corner, a performance artist burned what he said were his
last euros. Nearby, an Afghan beggar joked about how he should have gone to
Sweden instead. A mother grabbed her toddler’s hand as a dozen policemen
motorcycled past, heading to a rally outside Parliament. And in his
neighborhood restaurant Panagis Vourloumis, a 78 year-old ex-CEO, current
investment banker and survivor of coups, dictators and communists, leaned
forward and laid his worries on the table.
Calif.
to gather data on its Obamacare customers - (www.cnbc.com) Covered
California is watching! The Golden State's Obamacare exchange reportedly plans to collect and maintain sensitive
insurance company data about its 1.4 million customers to analyze the
performance of health plans—and says no customer will be allowed to opt out of
the oversight. That level of scrutiny over peoples' drug prescriptions,
visits to psychiatrists and gynecologists, and screening tests is raising
concerns among privacy experts. But the Covered California insurance
marketplace defends the data mining as crucial to making sure insurers and
medical provides are doing their jobs correctly under the Affordable Care Act. "There
is potential for so much public good, but there is a greater public good in
protecting privacy and security," Michelle De Mooy, deputy director for
consumer privacy at the Center for Democracy and Technology in Washington, told
the Los Angeles Times. "I think asking permission is absolutely
integral. It is not the state's data." The Times reported that
the state in April signed a five-year contract with Truven Health Analytics to
run the database that will store information about customers. Truven Health,
which will receive $9.3 million for its work, is set to begin receiving patient
data as early as this fall from insurers that sell health plans on the
exchange.
Confirmed:
WH Lied About Jonathan Gruber’s Role in Developing ObamaCare - (www.cnbc.com) President Obama’s dismissal of MIT’s Jonathan
Gruber as just “some adviser” he barely remembers, rather than a key architect
of ObamaCare, has always been one of the flimsiest and most transparent lies
told by this profoundly dishonest White House. Everyone knew Gruber was
critical to ObamaCare, and when he was caught on tape high-fiving himself for
helping to fool what he described as “stupid” American voters with the
Affordable Care Act’s web of false promises and ludicrous projections, he was
speaking from the Administration’s heart. It’s still newsworthy that the House
Oversight Committee has released emails to the Wall Street Journal showing Gruber had a far closer working
relationship with the White House than it wanted to admit: The emails show
frequent consultations between Mr. Gruber and top Obama administration staffers
and advisers in the White House and the Department of Health and Human Services
on the Affordable Care Act. They show he informed HHS about interviews with reporters
and discussions with lawmakers, and he consulted with HHS about how to publicly
describe his role.
For
The First Time Ever, Total ECB Claims On Greek Banks Surpass Total Greek
Deposits - (www.zerohedge.com) Net of the latest ELA increase, when adding
some €38 billion in collateralized EFSF bonds and other collateral usage, we
find that we have not only reached parity but crossed it: as of this moment
Greek deposits, which are generously estimated at €120 billion but in reality
are lower, are less than the total ECB claims on Greek banks and the Bank of
Greece, amounting to €126 billion. And with that the possibility of a
Greek bail-in which could amount to up to 100% of total Greek
deposits, becomes all too real.
Greece may offer more in debt talks as clock ticks - (www.reuters.com)
Greek crisis standoff: five possible outcomes - (www.theguardian.com)
Dollar bulls wait backstage as Greece plays out - (www.cnbc.com)
Greek crisis standoff: five possible outcomes - (www.theguardian.com)
Dollar bulls wait backstage as Greece plays out - (www.cnbc.com)
Greek
debt: New proposals to be put to creditors - (www.bbc.com)
Psst! Here's the secret about Greek debt drama - (www.cnbc.com)
Psst! Here's the secret about Greek debt drama - (www.cnbc.com)
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