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Oct 11 (Reuters) - The six biggest U.S. banks are expected to have set aside nearly $5 billion in the third quarter to cover future loan losses, Wall Street analysts said, as lenders brace for a potential global recession. Profits at big banks got a boost last year as they released funds reserved for potential COVID losses. In the third quarter of last year, they released about $4 billion of loan provisions, according to data from Refinitiv. But with growing fears of a recession as the U.S. Federal Reserve hikes interest rates aggressively to tamp down inflation, reserves in the...

Update: Russia Exchanges Closed Both the MICEX and RTS exchanges have been closed - lock limit down.The markets have rendered their decision on the G7, Geithner and Obama's administration thus far, as expressed by Rick Santelli on CNBC this morning.  As a picture is worth 1000 words, here 'ya go:CNBC was running Terminator II theme music as their bumper this morning; that's pretty accurate. There is no chart support left between here and (unfortunately) the 500s in the SPX, and there's an argument to be made that the next real support is down around that dreadful 210 target that I laid...

A clear lesson learnt from this credit crisis has been to sell and sell early. However, it appears as if US banks are setting out to make some of the same mistakes of the past 18 months all over again. In many instances, those mistakes determined who survived and who did not. Throughout 2007 and 2008, when I asked managements why they were not more aggressive in disposing of assets, the common answer I received was that they believed current prices were too distressed and did not reflect the true underlying value. Unfor­tunately, the longer they waited, the less these...

Posted: Sun, 09 Dec 2007 12:54:00 +0000 Lifelock Vs TrustedID By Puripong Koomsin Each year, the cost of Identity Theft amounts to over 50 Million US Dollars and these numbers are steadily rising. Identity theft has been one of the most expensive crimes in the United States, costing both the government and individuals such a huge amount of money. Even though the crime is rising in numbers, most people still think that it may just be a result of isolated cases that have been blown out of proportion by the government and agencies that tend to gain from them. That...