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Ehrlich is making time to see the sights of Valencia, Spain’s third largest city, during his time, and he also devotes some hours to participate in the Spanish custom of siesta...
...BlackRock report said that five of the six biggest creditors of AIG's financial-products division would have been willing to end the contracts for less than face value. French bank Société Générale, which was AIG's largest CDS counterparty, for instance, according to Blackrock was willing to unwind the bond insurance its had bought from AIG on its lowest quality bonds for 90 cents on the dollar, or for 10% less than what AIG had originally promised to pay. About 30% of the $16.4 billion in CDS contracts that SocGen had bought...
...Conference of Mayors' Hunger and Homelessness Survey, released in December, shows that family homelessness increased in three-quarters of the 27 major cities surveyed during 2009. Big cities have the largest numbers of homeless. According to the alliance, at the end of 2009, Los Angeles topped the nation with 68,608 homeless; New York City had 50,372; Detroit had 18,062; Las Vegas and Clark County, Nevada, had 11,417; Houston had 10,363; and the Denver and Phoenix metropolitan areas approximately 8,500 each. The concentration of the homeless per 10,000 in population is a different story...
...Kazakhstan stepped in with a game-changing offer. It said that if Russia refuses to provide oil to the Belarusian refineries, it would be happy to take Moscow's place. The Kazakhs also said they would be willing to buy a stake in Belarus' Naftan refinery, which Russia's largest oil companies have coveted. "The demands of Belarusian refineries will be filled by Kazakh oil," said Anatoly Smirnov, Kazakhstan's ambassador to Belarus, adding that the two nations' Presidents have already discussed the idea and "no one has refused...
...some analysts say Kazakhstan's offer to Belarus is most likely a bluff. It would be costly and difficult for Kazakhstan to ship oil to Belarus, and Belarus could not afford to pay fair-market prices anyway, says Denis Borisov, an analyst at Bank Moskvy, one of Russia's largest banks. Kazakh companies could, however, undercut Russian bids for the Naftan refinery, he says, which would be a major blow to Russia's energy strategy in Eastern Europe. (See pictures of the Russia-vs.-Georgia...