Banks sink into oil wells
[rtl] Abdul Hussein Mundhiri
sometimes tiger on economic analyzes and reports issued by international stock markets and leading economists and financial analysts unnoticed as if we have not been affected Balambeshr or indirect. But economic Wiz is sees things from afar occurring among them and if it reaches them have been approached to Gzha either finds the truth and either discovered a mirage In both cases have been won knowledge out and grabbed thepath of success leading to it. The
important thing in this troubled Bohaddath world is the research and investigation and interaction with all the influential economic variables in order to be with the total not behind them.
it was the outputs and outcomes of the global financial crisis in 2008 is that theeconomies are no longer obeys theories and ideologies that have been Habaysthe for periods of several.
colors and sizes have changed Ardiha by changing the volatile and multi - economic climates factors, Farrah every economy is looking for a way out of its crisis and waschecking for a suitable alternative , even if the ideological enemy, and that is formed alliances and new economic groups intercontinental classical theories such as Brix Group and the establishment of the Asian investment bank that I want him to be his Asian except that expansion across Asia to Africa and Europe and expanded as well as theGroup of seven to become the Group of twenty and more to come.
and was among those who received a slap in the cold war the major banks , which havebecome the scapegoat in a conflict of this excruciating interests Having enjoyed these banks receive surpluses of the budgets of oil states Vtsttmrha in energy, housing, health, education and infrastructure projects sectors including the loaned oil companies, brokers , speculators in the global stock markets in stocks, commodities, oil, gold , where the oil companies to invest in the extraction and marketing of oil in several continents in theworld and some of them buy oil for several months prior to the extraction and marketing to ensure the continuation supplied to and consumed in the petrochemical industry and the production of electric power and fuel for machinery, cars and the rest transportation because the growth in the global economy was positive and help energy demand growth and so these companies maintain the continuity and stability of its existence was a win -win) oil companies - producing countries - exchanges (.
but after that the plot hit oil prices succeeded was the first to receive these Smack thebudgets of oil producing countries and banks that had lent the oil companies huge money to be invested in the extraction and marketing of oil and this stalled these companies to repay its obligations to lenders that have faced because of this failure in repayment heavy losses in the money depositors and their capital , where more than 100 US bank declared bankrupt others had to reduce the number of its branches inside and outside the country and lay off thousands of employees.
for example, the bank «JP Morgan» US has suffered a loss of one billion five hundred million dollars at the beginning of the crisis and continued these losses to the present day and the Bank reduced its shares rose more than four percent after declare such aloss where he is investing up to $ 42 billion in oil and gas companies this amount represents up to 2 percent of its capital. in
addition , he demands to allocate at least five hundred million dollars to cope with a new find for other companies and if it was the bankruptcy of 175 new US oil company also is if unexpected as under the price of a barrel of oil is less than $ 65 a barrel this year, the bank will be exposed to a lot of losses , because some of these companies had borrowed from «JP Morgan» according to a report of the global financial auditing company «Deloitte» in the light of the oil companies to withdraw 326 excavator working in the extraction of shale oil of the total 646 excavator was working a year ago.
in doing so , global banks have faced, because of the low Asaralinvt, the scarcity of liquidity weighed heavily on the size of the finances and profits and the price of itsshares has recently showed a survey about the investment banks in the world refers to the revenues of the 12 largest investment banks in the world fell by 25 percent in thefirst quarter of this year , compared with its level a year ago due to a sharp decline in oil prices and the approaching bank interest of zero percent rate.
the oil states are the other has encountered great difficulties in providing the necessary funds for their budgets some of which turned from preparing a surplus to prepare adeficit Vonkhevc societies oil poor governments Department of economic files resorted each other to borrow money from the IMF and the World Bank in foreign loans harsh conditions after it was investing the surplus in the sovereign investment funds became now borrow from banks , which has become powerless for providing internal credit her as she sank into losses falling prices.[/rtl]