was the editor shall transmit 
Tuesday, February 23, 2010
Wednesday, February 17, 2010
Old Spice After Hours Body Spray
housing bubble, U.S. experts the next Mega-Crash
By Marc Pitzke, New York
The U.S. government spread optimism that the recession is over. But contrary to well-known experts: They warn of a new, catastrophic crash. This time on the market for commercial properties, including large apartment complexes. This would be almost every American - and indirectly, the German bank.
"If that dies," says Charles Schumer and looks around wistfully, "then New York's dying heart and soul." The Democratic U.S. senator is facing the brick facades of the Stuyvesant Town, Manhattan's once largest tenement. Hundreds of residents around him, many of them live here for decades. Some have brought themselves painted banners: "Save our homes!" and "Stop the displacement of working families!"
The scene played out recently on Manhattan's East Side from, but they went completely under in the flood of news of the day on the dominated by the earthquake in Haiti, the U.S. budget deficit and the Grammy Awards headlines. They marked a moment, from which it could possibly develop the next mega-financial crash of the U.S..
occasion of the demonstration in Stuyvesant Town was the largest real estate deal in U.S. history, which is mutated in less than four years, the biggest flop. $ 5,400,000,000 of construction company Tishman Speyer and BlackRock, the asset manager in 2006 for the complex and its neighboring settlements Peter Cooper Village had forked out. But now they had to renounce: The mammoth credit grew them over the head - after they were forced to cede 110 buildings with 11,232 apartments to its creditors. The fate of the roughly 25,000 residents is now once again open.
, yet behind the billion-dollar scandal is much more: He is already one of the few visible signs of an imminent new financial crisis. Yet it is not broken, but could the U.S. economy will soon break again into the depths.
It is 6.7 trillion dollars
that these have been for little vertebrae provides, lies on the matter. Because this time it comes to commercial real estate - an unwieldy market that is difficult to understand for lay people. But there is a market with a volume of 6.7 trillion dollars, almost twice as much as the entire U.S. government budget 2011th
An oversight board of the U.S. Congress has now officially warned: do the next four years to the commercial property market a new, elusive Loch debt of 1.4 trillion dollars on - with dramatic domino effect: "A significant wave of defaults on commercial mortgages would cause economic damage that could affect the lives of almost every American."
In plain language this means: "The financial crisis is not over." It formulated the renowned Harvard lawyer and bankruptcy specialist Elizabeth Warren. "We must immediately develop a plan before the system is on the brink of ruin."
Warren is the chairman of the Congressional Oversight Panel (COP), a non-partisan special committee, which the U.S. Congress in late 2008 began, to monitor the distribution of the 787-billion-dollar stimulus package. Together with four colleagues, all financial and credit experts, they came here to a startling conclusion.
Many loans exceed the value of the property
your concern is the massive loans that keep the already shaky commercial property market in the United States maintains. From 2011 to 2014 would total $ 1.4 trillion due, the committee wrote in a report. Just over half of these loans was but "under water". Say, you exceed the value of the properties they finance.
A collapse of this market, the Committee would have similar devastating consequences such as Since 2007, the collapse in U.S. real estate market "of job losses, abandoned stores, office buildings and homes," says the report. And countless new bank failures. This in turn would "undermine the recovery and prolong an already painful recession just yet." A "simple solution" there is not - and the U.S. Treasury ignore the problem.
The U.S. commercial real estate market includes not only office buildings and skyscrapers like most skyscrapers of Manhattan. But also shopping centers, hotels, industrial parks and Mietkomplexe as Stuyvesant Town, home to thousands Americans. Most of these projects are funded with three-to ten-year bank loan. be repaid, unlike in the private market, the loan amount until the end of the period. The client then takes this mostly on a new loan.
this face two main risks. First, the debtor may not raise interest rates. Second, the debtor does not manage to refinance the original loan. "In both cases," the COP Report, "bursts the loan and the property comes to the foreclosure sale."
The German bank is involved
Numerous banks suddenly threatens to be torn in the subprime mortgage crisis of 2007/2008 in a similar swirl of insolvent customers. In this case, but it hits the COP report suggests that rather the small, far more vulnerable banks.
already stuck to research by the consulting firm Real Capital Analytics in the U.S., nearly 9,000 commercial real estate projects in the financial crunch. Total value: € 177.7 billion. The COP-report estimates that only threaten the banks at the end losses of approximately $ 300 billion.
Two unfortunate developments come together here. On the one hand, the loans were completed at the peak of the housing bubble, when the property - and loans - was completely over priced. On the other hand, the recession led to a slump in retail, to business closures, declining demand for commercial real estate, falling rents and increasing inventory - A vicious circle.
particularly great in the deal is Wells Fargo's third-largest U.S. bank, which manages 43 000 commercial real estate loans over total of 476 billion dollars in services for third parties. Moreover, with enviable on this little top ten list: PNC of Pittsburgh (309 billion), Bank of America (132 billion dollars) and the German Bank (64 billion dollars). However, the German bank with itself no direct credit risk because the loans it manages for third parties.
The same instruments as in the first crisis
Like the infamous sub-prime market have combined these commercial banks loans to investment vehicles, in order to speculate on. In these "commercial mortgage-backed securities (CMBS) to find the mortgage of each dozens office buildings, shopping centers, hotels and residential complexes.
A single-payment can rip the whole network. Another parallel to the crash of recent years: This time hang again complicated derivatives such as credit default swaps (CDS) with this drip. There were those uncovered "insurance" for credit losses, which had the near-collapse of U.S. insurance giant AIG out, which could be averted only by 180 billion dollars from the Treasury.
The consequences of this new crisis-rich but much further. Blank Office buildings, hotels and shops can directly lead to job losses, "oracle of the report." Foreclosures of residential complexes, families driven from their homes, even if they never delinquent with the rent was. "And banks are using credit because knaus chested, in turn, the middle class .. can re-entrainment
The Church of England is linked in there
How low will the crisis, but shows the billion collapse of Stuyvesant Town, where now countless co-investors to fear for their units - including the Singapore government, the Church of England and Calpers, the pension fund of the State of California.
Warren and her team of experts demand Therefore, a stress test for the smaller banks, as the government had last year ordered the 19 top institutions. And even there, criticized Warren, the stability was studied only up to the end of 2010.
The protesters from Stuyvesant Town recently had another idea. They insisted that Obama's chief consultant David Axelrod - because of grew up there. "David, do not forget your roots," pleaded one of the tenants. "It's time to go home."
SPIEGEL copyright and author (see above)
http://forum.spiegel.de/showthread.php?t=12191 DISCUSSIONS VERY INTERESTING! 
By Marc Pitzke, New York
The U.S. government spread optimism that the recession is over. But contrary to well-known experts: They warn of a new, catastrophic crash. This time on the market for commercial properties, including large apartment complexes. This would be almost every American - and indirectly, the German bank.
"If that dies," says Charles Schumer and looks around wistfully, "then New York's dying heart and soul." The Democratic U.S. senator is facing the brick facades of the Stuyvesant Town, Manhattan's once largest tenement. Hundreds of residents around him, many of them live here for decades. Some have brought themselves painted banners: "Save our homes!" and "Stop the displacement of working families!"
The scene played out recently on Manhattan's East Side from, but they went completely under in the flood of news of the day on the dominated by the earthquake in Haiti, the U.S. budget deficit and the Grammy Awards headlines. They marked a moment, from which it could possibly develop the next mega-financial crash of the U.S..
occasion of the demonstration in Stuyvesant Town was the largest real estate deal in U.S. history, which is mutated in less than four years, the biggest flop. $ 5,400,000,000 of construction company Tishman Speyer and BlackRock, the asset manager in 2006 for the complex and its neighboring settlements Peter Cooper Village had forked out. But now they had to renounce: The mammoth credit grew them over the head - after they were forced to cede 110 buildings with 11,232 apartments to its creditors. The fate of the roughly 25,000 residents is now once again open.
, yet behind the billion-dollar scandal is much more: He is already one of the few visible signs of an imminent new financial crisis. Yet it is not broken, but could the U.S. economy will soon break again into the depths.
It is 6.7 trillion dollars
that these have been for little vertebrae provides, lies on the matter. Because this time it comes to commercial real estate - an unwieldy market that is difficult to understand for lay people. But there is a market with a volume of 6.7 trillion dollars, almost twice as much as the entire U.S. government budget 2011th
An oversight board of the U.S. Congress has now officially warned: do the next four years to the commercial property market a new, elusive Loch debt of 1.4 trillion dollars on - with dramatic domino effect: "A significant wave of defaults on commercial mortgages would cause economic damage that could affect the lives of almost every American."
In plain language this means: "The financial crisis is not over." It formulated the renowned Harvard lawyer and bankruptcy specialist Elizabeth Warren. "We must immediately develop a plan before the system is on the brink of ruin."
Warren is the chairman of the Congressional Oversight Panel (COP), a non-partisan special committee, which the U.S. Congress in late 2008 began, to monitor the distribution of the 787-billion-dollar stimulus package. Together with four colleagues, all financial and credit experts, they came here to a startling conclusion.
Many loans exceed the value of the property
your concern is the massive loans that keep the already shaky commercial property market in the United States maintains. From 2011 to 2014 would total $ 1.4 trillion due, the committee wrote in a report. Just over half of these loans was but "under water". Say, you exceed the value of the properties they finance.
A collapse of this market, the Committee would have similar devastating consequences such as Since 2007, the collapse in U.S. real estate market "of job losses, abandoned stores, office buildings and homes," says the report. And countless new bank failures. This in turn would "undermine the recovery and prolong an already painful recession just yet." A "simple solution" there is not - and the U.S. Treasury ignore the problem.
The U.S. commercial real estate market includes not only office buildings and skyscrapers like most skyscrapers of Manhattan. But also shopping centers, hotels, industrial parks and Mietkomplexe as Stuyvesant Town, home to thousands Americans. Most of these projects are funded with three-to ten-year bank loan. be repaid, unlike in the private market, the loan amount until the end of the period. The client then takes this mostly on a new loan.
this face two main risks. First, the debtor may not raise interest rates. Second, the debtor does not manage to refinance the original loan. "In both cases," the COP Report, "bursts the loan and the property comes to the foreclosure sale."
The German bank is involved
Numerous banks suddenly threatens to be torn in the subprime mortgage crisis of 2007/2008 in a similar swirl of insolvent customers. In this case, but it hits the COP report suggests that rather the small, far more vulnerable banks.
already stuck to research by the consulting firm Real Capital Analytics in the U.S., nearly 9,000 commercial real estate projects in the financial crunch. Total value: € 177.7 billion. The COP-report estimates that only threaten the banks at the end losses of approximately $ 300 billion.
Two unfortunate developments come together here. On the one hand, the loans were completed at the peak of the housing bubble, when the property - and loans - was completely over priced. On the other hand, the recession led to a slump in retail, to business closures, declining demand for commercial real estate, falling rents and increasing inventory - A vicious circle.
particularly great in the deal is Wells Fargo's third-largest U.S. bank, which manages 43 000 commercial real estate loans over total of 476 billion dollars in services for third parties. Moreover, with enviable on this little top ten list: PNC of Pittsburgh (309 billion), Bank of America (132 billion dollars) and the German Bank (64 billion dollars). However, the German bank with itself no direct credit risk because the loans it manages for third parties.
The same instruments as in the first crisis
Like the infamous sub-prime market have combined these commercial banks loans to investment vehicles, in order to speculate on. In these "commercial mortgage-backed securities (CMBS) to find the mortgage of each dozens office buildings, shopping centers, hotels and residential complexes.
A single-payment can rip the whole network. Another parallel to the crash of recent years: This time hang again complicated derivatives such as credit default swaps (CDS) with this drip. There were those uncovered "insurance" for credit losses, which had the near-collapse of U.S. insurance giant AIG out, which could be averted only by 180 billion dollars from the Treasury.
The consequences of this new crisis-rich but much further. Blank Office buildings, hotels and shops can directly lead to job losses, "oracle of the report." Foreclosures of residential complexes, families driven from their homes, even if they never delinquent with the rent was. "And banks are using credit because knaus chested, in turn, the middle class .. can re-entrainment
The Church of England is linked in there
How low will the crisis, but shows the billion collapse of Stuyvesant Town, where now countless co-investors to fear for their units - including the Singapore government, the Church of England and Calpers, the pension fund of the State of California.
Warren and her team of experts demand Therefore, a stress test for the smaller banks, as the government had last year ordered the 19 top institutions. And even there, criticized Warren, the stability was studied only up to the end of 2010.
The protesters from Stuyvesant Town recently had another idea. They insisted that Obama's chief consultant David Axelrod - because of grew up there. "David, do not forget your roots," pleaded one of the tenants. "It's time to go home."
SPIEGEL copyright and author (see above)
http://forum.spiegel.de/showthread.php?t=12191 DISCUSSIONS VERY INTERESTING!
Tuesday, February 2, 2010
Monster Energy Jewlery Rings
swine flu countries pay 8.33 Euros for each unused dose
swine flu: Country pay € 8.33 for each unused dose = (8 , 33 x 650 000 = € 5.4145 million here
hence discarded at € 283.22 million ... daat ass after everything normal ?????
The members of the Standing Committee on Vaccination (STIKO) at the Robert Koch Institute are in their vaccination recommendation for the new influenza A is not influenced by financial contributions from the pharmaceutical industry has been.
said that the federal government in response to an inquiry by the Group The Left (printed matter number 17/328). "members of the STIKO in which the concern of bias due to some projects financed by vaccine manufacturers the new influenza A was to have the recommendation for vaccination against the novel influenza A is not involved, "says the document.
subject also no evidence of a possible influence of the WTO decision by the pharmaceutical industry, which has led to an increase in the pandemic alert level from 5 to 6 in June 2009.
Overall, the states for any unused doses of 8.33 euros to the manufacturer GlaxoSmithKline (GSK) to pay. The amount consists of one euro for the antigen, the adjuvant for six euros and 1.33 euros for VAT together.
The originally ordered quantity of 50 million doses was at a Talk between individual provinces and GSK to 34 million doses reduced. GSK therefore receive a purchase price of € 283.22 million.
same time the government made it clear that the federal government the demand of the countries will not meet to take the economic risk in respect of unused doses. "Ensuring sufficient availability of vaccine in an influenza pandemic is an object of the countries," it says in the response.
for the performance of their duties therefore, the countries of the expenditures and thus the financial risk that not all doses were inoculated and funded through health insurance.
The government pointed out that the countries have been completed because of fears that supply shortages if supply contracts with two manufacturers: GSK and Novartis. As the population had only cautiously be vaccinated, the agreement with Novartis did not have to be raised.
are According to the Federal Government requests from States, and such private intermediaries and wholesalers who want to buy the Impfkontingente of the countries. Currently, the requests were from the state of Lower Saxony, which currently holds the presidency of the Conference of Health Ministers, tested for their resilience. ©
fos / aerzteblatt.de 
swine flu: Country pay € 8.33 for each unused dose = (8 , 33 x 650 000 = € 5.4145 million here
hence discarded at € 283.22 million ... daat ass after everything normal ?????
The members of the Standing Committee on Vaccination (STIKO) at the Robert Koch Institute are in their vaccination recommendation for the new influenza A is not influenced by financial contributions from the pharmaceutical industry has been.
said that the federal government in response to an inquiry by the Group The Left (printed matter number 17/328). "members of the STIKO in which the concern of bias due to some projects financed by vaccine manufacturers the new influenza A was to have the recommendation for vaccination against the novel influenza A is not involved, "says the document.
subject also no evidence of a possible influence of the WTO decision by the pharmaceutical industry, which has led to an increase in the pandemic alert level from 5 to 6 in June 2009.
Overall, the states for any unused doses of 8.33 euros to the manufacturer GlaxoSmithKline (GSK) to pay. The amount consists of one euro for the antigen, the adjuvant for six euros and 1.33 euros for VAT together.
The originally ordered quantity of 50 million doses was at a Talk between individual provinces and GSK to 34 million doses reduced. GSK therefore receive a purchase price of € 283.22 million.
same time the government made it clear that the federal government the demand of the countries will not meet to take the economic risk in respect of unused doses. "Ensuring sufficient availability of vaccine in an influenza pandemic is an object of the countries," it says in the response.
for the performance of their duties therefore, the countries of the expenditures and thus the financial risk that not all doses were inoculated and funded through health insurance.
The government pointed out that the countries have been completed because of fears that supply shortages if supply contracts with two manufacturers: GSK and Novartis. As the population had only cautiously be vaccinated, the agreement with Novartis did not have to be raised.
are According to the Federal Government requests from States, and such private intermediaries and wholesalers who want to buy the Impfkontingente of the countries. Currently, the requests were from the state of Lower Saxony, which currently holds the presidency of the Conference of Health Ministers, tested for their resilience. ©
fos / aerzteblatt.de
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