Thursday January 31
Stocks in U.S. Rally After MBIA Says It Expects to Keep AAA Credit Rating BL
Gold futures end slightly higher MW
Mortgages: U.S. mortgage rates reverse course, rising in wake of Fed cut MW
MBIA CEO decries "fear mongering" Reuters  MBIA Call
Moody's boosts subprime loss estimate up to 85 pct   Reuters
Bristol-Myers Posts Loss as Subprime Investments Overshadow Plavix Gains BL
Defaults on Privately Insured Mortgages Rise 37%, Industry Report Shows BL
Corporate Credit-Default Risk Soars on MBIA Loss, S&P's Subprime Review BL
MBIA: Another morning, another monoline crisis... FT Alphaville
U.S. December Personal Spending Increases 0.2%, Slowest Pace in Six Months BL BEA
Jobless claims increase of 69,000 DOL  Largest increase since September 2005 MW
Employment cost index up 0.8% in fourth quarter, as expected MW
It's Confirmed!! The Fed Follows the Market!! EW Fed stays aggressive Ip BL
Federal Reserve Tries to Polish Tarnished Image Baum
Rate cuts consign gradualism to history FT Age of Dissent Rolls In Reuters
“Greenspan has left the building.  What now distinguishes Bernanke is his abandonment of Fed gradualism.”
Fed May Be Raising Rates Before Summer's Over Berry
90 minutes of fame Hulbert
Stock Market to the Fed: “It’s Insolvency, not Just Illiquidity, Stupid!” Roubini
Mortgage rates could rise, not fall, after Fed move MW
Monetary Policy: Go It Alone NY Sun Investors Want More Cuts AP
The NZealand dollar was the biggest beneficiary of the Fed rate cut Westpac  PDF
It's the Housing Market Deflation WP (Bill Gross)
US Q4 GDP: How Long Can the Consumer Hang On? CIBC PDF
2008: The great slowdown ANZ  PDF
You call this a recession? Finance Asia (S&P)
Two Billionaires Describe Our Outlook Lamont
Survey: CFOs' Economic Confidence Plummets 19% From One Year Ago FEI
'It's going to be much worse' Fortune
Famed investor Jim Rogers sees hard times ahead for the United States - and a big opportunity looming in China.
Lex: Counting the world’s assets FT
SWFs: Different money, different rules Summers
Qatar considers dropping dollar peg FT
SWFs may erode US$ further Oxford Economics PDF
Monthly FX Outlook CIBC PDF
It's the Dollar, Stupid (and Taxes, Too) Steve Forbes
Greenspan: Good chance of U.S. recession Reuters
State figures say recession Palm Beach Post  Recession looms Boston Herald
The Recession? WallStrip Video  Buy America! Mother Jones (Flash Cartoon)
Mortgage-related bank losses to top $265-billion: S&P G&M
The credit rating agency also said it is considering slashing its rating on more than $500-billion of investments tied to bad mortgage loans.
MBIA Posts Biggest Loss, Considers New Capital Plans BL PR
Bond Insurers Face Downgrade Despite Call for Delay CNBC
Fabian Says Bond Insurers Face `Severe' Downgrade Risk BL Video
Regulators should halt bond insurer dividends: Ackman Reuters
Data and the valuation models that Pershing used posted publicly - Link
Ackman Devoured 140,000 Pages, Fought 5 Years to Show `MBIA Was Never AAA' BL
Bond insurers' possible downgrade spurs market angst Reuters
Next Big Crisis Could Involve Bond Insurers NY Sun
The Bond Insurers Bail-Out Fund CSF Blog
Buffett poised to cash in on bond insurer woes Reuters
Big Japanese banks' subprime losses seen at $4.7 billion MW
Japan's Mizuho sees soaring subprime losses: reports AFP
Property Crunch Could Whack Brit Banks Spiegel
The US subprime crisis is putting the brakes on Britain's commercial property boom, driving down real estate values and putting banks in jeopardy.
Canadian commercial mortgage market faces shortfall G&M
Pulte Homes 4Q Loss Widens Amid Slowdown AP
Will crisis reshape mortgage industry? Seattle PI
Subprime Lenders Get Big Accounting Break at SEC BL
Just when it seemed as if the mortgage mess had hit a new low, now comes this: The Securities and Exchange Commission's staff has granted the subprime-lending industry a huge exemption from the normal rules for off-balance- sheet accounting.
Financial firms sweat out the earnings season   USAT
Wall Street Blocked By Buyout Debt WP
Banks Find Few Takers for Loans Funding Deals
Deephaven Capital Shuts a Hedge Fund as Leveraged Buyout Prospects Dry Up BL
Jitters accompany Amazon's outlook MW
Starbucks cautious on 2008, closing 100 stores Reuters
Ann Taylor cutting back Fortune
Google Faces Downturn Debut TheStreet
Higher Volatility Traced to SEC Rule NY Sun Volatility Now in the Danger Zone Lencrest P
Rocky Markets Hit Pension Funds Hard CFO
During the first month of 2008 American pension funds have lost $110 billion, shedding up to 8 percent of their value...
SEC Cracks Down on "Creative Writing" CFO
'Next Enron' Could Be in Public Sector, ERC Survey Finds FEI
Kerviel made millions from mortgage meltdown G&M
Rogue trader strikes chord for fans of the little guy Toronto Star
Inspector Clouseau Finds Rat at SocGen Baum
Russia's billionaires join next big gold rush Reuters
OPEC says more oil won't help world economy G&M
Oil may hit $70 as weaker economy lowers demand MW
Oil scarcity has 'snuck up on us', expert says ABC
Dr. Buckee says the cost of a barrel of oil could reach as high as $200 by the third or fourth quarters of this year
Oilwatch Monthly - January 2008 Oil Drum
Americans fear $4 gas CNN  Next round of gas hikes won’t be due to oil AP
Farmers Wonder if Boom In Grain Prices Is a Bubble WSJ (Free via Google jump)
Ingredient costs hit Kraft, Kellogg in bottom line Reuters
Ahead of the Bell: Agriculture Prices AP
Zinc May Soon Follow Ali UBS
Barrick trades a pile of gold for 10 years of tires G&M
The tires retail for as much as $60,000 apiece, but the global shortage has seen them sell for as much as $300,000 each in Internet auctions
As China chills, metals heat up G&M
Stocks in Europe Fall, Capping Worst January for Stoxx 600; ING, Axa Drop BL
Asia gripped by volatility after Fed rate cut, close mixed MW
Japan Wages Fall 1.9%, Fastest Pace in Three Years, as Bonuses Are Slashed BL
European Confidence Drops; Inflation Rate Advances to 14-Year High of 3.2% BL
Nationwide says house prices fell 0.1%   FT
European Perspectives - The Cash Machine is Broken PIMCO
U.S. Subprime Loan Turmoil and Japanese Credit Markets (Vol. 2) PIMCO
Badawi's State Of Euphoria Asia Sentinel
It’s whistling past the graveyard to think that Malaysia is going to escape a US downturn unscathed
China's Reserves Fit Harvard Linguist's Law BL
Inflation makes its way to China Taipei Times
China Overheating Indicator - January 2008 DB Research  PDF
Yuan Rises, Set for Biggest Monthly Gain Since End of Link to U.S. Dollar BL
The relationship between developed and emerging markets Yam
Best Value BRIC Stocks TheStreet
Canadian economic growth slows G&M
Canadian Exporters More Brave than Resilient EDC
Banks put squeeze on Tricom Australian
Egypt has only 40 pct Internet after cable fault Reuters
Internet outages disrupt Mideast, Gulf USAT
Former Macau minister jailed for 27 years for graft AFP
Waving Goodbye to Hegemony NYT

Wednesday January 30
U.S. Stocks Decline, Reversing Fed Rate-Cut Rally, on Bond Insurer Concern BL
Bond Insurer FGIC Has Rating Cut by Fitch After Failure to Raise Capital BL
Bond Insurer Woes to Hit Three Banks Most TheStreet
MBIA, Ambac Face $11.6 Billion of Losses on Loan Guarantees, Ackman Says BL
Dollar lower vs. most rivals after Fed's half-point rate cuts - Gold Surges - Hallelujah! Cramer
Fed Lowers Rate Half Percentage Point, Says `Downside Risks' Remain BL Text
As US recession looms, yield curve looks prescient Reuters
Merrill downgraded on bond insurers, subprime MW
Merrill Plans to Exit CDO, Structured-Credit Businesses, Chief Thain Says BL
Morgan Stanley Writes Down SIVs After Helping Its Money Funds BL
Behind Weak GDP: Inventory Liquidation WSJ Blog
U.S. Economy Grew at a 0.6% Rate in Fourth Quarter, Slower Than Estimated BL BEA
ADP report says US added 130,000 private jobs in January CNN
Dollar eases ahead of Fed decision FT
The Fed is between a rock & a hard place Crudele
For Fed, It's Not Clear-Cut WP
Bernanke’s reflation gamble may work too well FT
Fed’s Issue on Rates: How Low? NYT
The Failure of Inflation Targeting Merk
Financial Derivatives Emerge as Global Economic Threat Chosun
A failure of central banking Asia Times
Bank Reserves Go Negative Mish
The $1.4 Trillion Question Atlantic
The Chinese are subsidizing the American way of life. Are we playing them for suckers—or are they playing us?
What We’re In For: Projected Economic Impact of the Next Recession CEPR PDF
Junk Bond Rising Spreads Signal Worst Bust Since 2001 BL
The pain may only get worse. Speculative-grade borrowers made up the majority of U.S. corporate debtors for the first time last year
Spend, Spend, Spend That Rebate? John Q. Public Just Isn't Buying It WP
Clothes, food could get smaller slice of rebates MW
Economists see consumers paying down debt; card issuers could benefit
New Stimulus Plan May Spur Conflict WSJ
Dear Policymakers: Time to Start Managing the Dollar for Canadians Hahn PDF
Mortgage applications near 4-year high: MBA Reuters
Bond Insurers May Lose AAA Ratings Before a Bailout BL
Japan's banks poised to target western rivals FT
“Now it is our turn to do in the US, what [US banks] did in Japan in the 1990s”
Japanese bank SMFG sees profits tumble AFP
UBS expects record loss of $11.45-billion AP
Legg Mason Net Falls 11% on Costs to Shield Investors From Subprime Losses BL
ECB aid to Spanish banks matches Rock rescue Telegraph
Plans for a new system for failing banks Times Online
Psst. Wanna Buy A House? Norris Blog
Whose Fault Is This? Newsweek
The mortgage industry defends itself.
'Million homeowners' face loan struggle Times
Investors Look to Profit From Others' Misfortune WSJ
Yahoo Forecasts Revenue Below Some Analyst Estimates; Will Cut 1,000 Jobs BL
UPS Posts $2.58 Billion Loss on Pension Costs; Forecast Misses Estimates BL
CFO optimism plunges on recession fears Reuters
GM CFO says U.S. auto prices could rise significantly AP
Inflating the bubble? LA Times
Why should Freddie Mac and Fannie Mae guarantee home loans bigger than $600,000? Does this increase the likelihood that public money will be used to bail out lenders?
Wal-Mart chops prices in bid to lure shoppers CNN
Tiger's Julian Robertson roars again Fortune
Veteran bear finding bargains in battered stock market Brimelow
High anxiety for 401(k) investors LA Times
Inner Life of Jerome Kerviel, Accidental Rogue Lewis
SocGen's Rogue Trader Didn't Blindside Everyone Gilbert
Beyond Bank’s $7 Billion Loss, Fear of More NYT
Former Bayou CFO gets 20 years CNN
Basis hedge fund valued at 2 cents in dollar FT
FBI is probing 14 companies over loans AP
Gold, platinum off record highs, eyes on Fed Reuters
Silver Jumps to Highest Since 1980 on U.S. Interest Rates BL
These days, nothing surprises me Russell
OPEC Won't Raise Quota, May Consider Cut, Qatar Says
Weather Chills China's Economy Business Week
Economies of China and India are not invulnerable Guardian
Tycoon lowers lofty stocks target Standard
Lee: "I am not the genuine 'God of Stocks.' I am only a fake please don't call me that any more. I am just a simple investor."
Japan Factory Output Growth Misses Estimates; Companies to Cut Production BL
House prices to fall 10%, says shares guru ThisisMoney
Canadian business confidence sinks to nine-year low Globe & Mail
South Korea: Business Confidence Worsens Amid Subprime Woes Korea Times
Global Complications for Sovereign Wealth Funds Asia Sentinel
India Eases Rules to Attract More Overseas Investment BL
Suharto's Corrupt Legacy Lives On in Indonesia Pesek
Criminal charges eyed for fake reports Asahi
Mervyn King Appointed Bank of England Governor for a Second Five-Year Term BL
Man Builds Himself a Billion Dollar Home ABC



Thursday January 24
Bond Insurer Bailout Faces Hurdles TheStreet
Bond insurers fall; N.Y. regulator sounds cautious on bailout MW
“These are complicated issues involving a number of parties, and any effective plan will take some time to finalize”
Morgan Stanley to Cut 1,000 Asset Management, Brokerage Jobs, Person Says BL
Gold soars nearly 3% to trade above $900 an ounce MW
Mortgage rates fall even more Bank Rate
Deal Reached on Tax Rebates for Stimulus AP
Crude trims gains as U.S. inventories up more than expected MW
Existing-Home Sales Fall More Than Forecast; Median Price Down 6% - NAR ~  JClaims
Bank of America Says $230 Billion High-Yield Debt Backlog Isn't Shrinking BL
Wealth Funds Urged in Davos to Disclose More on Actions or Face U.S. Wrath BL
Faith In The Fed: The Last Bubble To Pop Mish
A Fear That the Cure Could Be Poison NYT
Ben Bernanke had a disaster to prevent Evans-Pritchard
Fed cuts give strapped homeowners some breathing room MW
Market Bloodbath Highlights Cracks in Capitalism Gilbert
Grantham Says Shun Stocks, Shift to Cash Amid Crisis BL
U.S. may have tough medicine to swallow if economic relief efforts don't work LA Times
The foolishness of economic 'stimulus' CS Monitor May Not Be Enough DMN
How Real Was the Prosperity? Business Week
Forbes Says U.S. Dollar Policy Amounts to `Zimbabwe Economics' BL
The dollar’s time has come Finance Asia
The more the storm clouds gather over the world economy, the stronger the sun shines on the dollar.
FX Crossroads: USD, recessions, and Fed easing cycles Danske PDF
Euro Rises as ECB's Weber Dismisses Rate-Cut Speculation BL
The Last Two Equity Market Corrections and the Fed Northern Trust PDF
Recalibrating the Forecast BMO  PDF
Asset Markets: Discounting A Recession BCA Research
US recession will trigger global slump Times Online
Recession 2008: How bad it can get CNN
Here comes the bear CNN
Wall Street's recent successes will fade with recession Weidner
PPT Emerges From Shadows Ackerman
Another Kind of Decoupling Krauss
Next on the Worry List: Shaky Insurers of Bonds NYT  FT Recap
Dinallo called Wall Street executives on Tuesday to set up the meeting...He led the session on Wednesday and suggested that the group move in as little as 48 hours to get a deal done ahead of any downgrading...
Mortgage Insurers Lifted, But Default Fears Persist WSJ
Super insurance-commisioner-man to the rescue! Leonard
Fannie Faces Trouble From Mortgage Insurers TheStreet
Why banks can’t afford to save the bond insurers MoneyWeek
Billionaire to rescue US insurer ThisisMoney  Within the next two weeks?
Corporate Default Risk Declines on MBIA, Ambac Bailout Talks BL
Freddie Mac Dec Total Upaid Principal Balance Rose To $720.8 Billion DJ
SocGen uncovers €5bn fraud FT Previous major trading scandals Reuters
The rogue trader - likely to trigger comparisons with the UK's Nick Leeson, who caused the collapse of Barings Bank - had "deep knowledge" of risk-control procedures from his time at the bank's middle-office activities, which allowed him to conceal his positions.
Foreclosures Prompt Cities to Make Plea for Aid NYT
Four Key Indicators Showing that this Recession will be Led by Housing MyBudget360
Bank of America Seeks to Raise $6 Billion in Offering of Preferred Shares BL
Betting against the BoA - Countrywide deal Fortune
Citigroup cuts London jobs on UK recession fears Times
Bank of America Cuts 25% of Stock Analysts at Securities Unit, People Say BL
Ford trims loss, says new job cuts ahead CNN
Steve Jobs' selloff pain: $1 billion Fortune
Baidu aims to take on Google and Yahoo in Japan Reuters
Goodwill hunting FT
Dear Rich People … Slate
All you wealthy Americans, stop complaining and save the economy!
Favorite Myths of Stockbrokers North
In Taxing Illegal Drugs, the Trouble Comes in Collecting NYT
Gold prices push through $900 G&M
Gold and the Fed's Crystal-Meth Hit Ash
Copper Inventories Low UBS
Copper tracks equities higher to trade back above 7,000 usd mark Thomson
Bakers blasted for raising too much dough Standard
Potash Corp. hits profit record FP
European Stocks Rally Most Since 2003; UBS, Axa, Nokia Advance BL
Japanese Stocks Gain on Possible Bailout of U.S. Bond Insurers BL
China's Economy Expands 11.2%, Supporting Global Growth as U.S. Slows BL
Fed's Panicked Rate Cut Puts Spotlight on BOJ Pesek
Japan Export Growth Cools for a Second Month on U.S. BL
Japan feels the chill as it peers nervously down slippery slope of economic decline Times
Europe and Asia face hard landings as bubbles burst Telegraph
Behind Market Turmoil, Europe is Weakening Spiegel
Australian Dollar Rises; U.S. Stocks Surge Boosts Carry Trade Confidence BL
Hong Kong's Bureaucrats Amass a Huge Windfall Asia Sentinel
Newspapers thriving? Yes – in Asia CS Monitor


Wedneday January 23
U.S. stocks rise again, led by financials MW
New York Regulators, Banks Meet on Plan to Raise Capital for Bond Insurers BL
Fitch places AmeriCredit Corp. on Rating Watch Negative MW
Kass: Two Solutions to What Ails the Market TheStreet
Economic recession unlikely: Congressional Budget Office Reuters  CBO
Two-Year Yields Fall to Lowest Since '04 on Speculation Over More Fed Cuts BL
Sallie Mae Has $1.6 Billion Loss as Borrowing Costs Climb, Subsidies Drop BL
Citigroup's Sue-Me Game of Chicken May Double Enron Creditors' $13 Billion BL
Investors exiting stock funds are urged to wait Reuters
Davos: On the cusp of economic history IHT  Something in the air? WSJ
Panic at Davos! Slate (Gross)
The global financial meltdown intrudes on the World Economic Forum.
Traders see Fed rate cut as sign it is spooked FT
Fed Risks Fueling More Asset Bubbles With Rate Cut, Economists Say BL
Bad Economics Saville  Is the Fed a Paper Tiger? Big Picture
The financial turmoil is like an elephant in a dark room FT (Wolf)
The Fed’s emergency interest cut: There’s a new sheriff in town VOX
Why the Fed can't save us Sloan  Only When the Bubble Bursts Pearlstein
Bernanke and company are using up their limited ammunition, but genuine problems remain with the low dollar and U.S. debt
Markets Force Fed to Make a Big, Risky Rate Cut Berry
Greenspan Put Is Dead. Long Live Greenspan Put Baum
Did Greenspan sell out investors? G&M
Who can save America? Independent
The worst market crisis in 60 years FT (Soros)
“It's basically the end of a 60-year period of continuing credit expansion based on the dollar as the reserve currency”
Capitalism's Enemies Within Samuelson
Reflation without Representation Janszen
After years of spending, U.S. faces an economic bill IHT (NYT)
The recent financial turmoil has many causes, but they are tied to a basic fear that some of the economic successes of the last generation may yet turn out to be a mirage.
Bush May Leave Ballooning Deficit, Curbing Successor's Programs BL
On the federal deficit, candidates stay mostly vague CS Monitor
Funny money: the perils of printing T-bills Finance Asia
If people are kind enough to lend you very cheap money, why bother working too hard for it
America will soon seem like fond Hollywood memory The Herald
Surely you don't mean to tell me that we are run by people with buckets of borrowed money? We might as well be Americans.
Ariz.: State's Spendable Cash Dwindling AP
Billion-dollar deficits in California, NYork and Arizona haven’t stopped governors... Stateline
ABN Leads Stocks Bears as MFS Sees No Repeat of '03 BL
Stock Breakdown Heralds Bear Market and Raises Recession Fears Wachovia PDF
Stocks Need to Drop 4% More to Price in U.S. Recession, Strategists Say BL
Stocks show classic bear signals WSJ  Brushing a bear Seattle Times
Apocalypse postponed? Hulbert
Economic Charts and a Brief History Lesson Schaeffers
Five reasons for optimism Harrison
FX Trading – Earth to ECB…Come in ECB! Black Swan
Currency Undervaluation and Sovereign Wealth Funds: IIE  PDF
A New Role for the World Trade Organization
Credit Crisis First Pacific Advisors LCC
AIG to Bail Out $2.2 Billion Nightingale Structured Vehicle, Moody's Says   BL
Rate cut triggered by fear of bond insurance collapse Times Will spreads narrow? BCA R
Lex: Monoline bail-out FT Bond insurance crisis looms on Wall Street G&M
Ambac, MBIA Lust for CDO Returns Undercut AAA Success BL
Hard Times From The Financial Fallout Wachovia PDF
Fannie, Freddie May Face $16 Billion Losses, Credit Suisse Says BL
Bank of China denies subprime worries as trading suspended AFP  PDF File
China banking regulator forms subprime task force: report MW
Snow Says Banks Must `Purge' Loans Before LBOs Resume BL
Merrill Lynch says U.S. nationwide home prices may fall 30% MW
Stunning jump in foreclosures SF Chronicle
A failing grade in subprime literacy Leonard
Who Cut the Rates? California Dreaming and Double-Speak Housing Dr. HB
U.S. housing downturn much like tech crash Financial Post
U.S. lenders cut deals to avoid foreclosure crisis Reuters
Motorola's Woes Continue Street
More than 50 percent chance of U.S. recession: Coca-Cola Reuters
H&R Block plans more job cuts Reuters
Glum North Americans weigh down CEO hopes MW
Buffett buys 3% of Swiss Re FT
Chinese whispers lift Prudential Guardian
Fortress Calls in MFS Loan NY DealBook
How to protect your portfolio with Band-Aids and booze G&M
Bayou Co-Founder Gets 4 1/4 Year Sentence for Fraud BL
Exclusive: Interview with Ravi "The Great Depression of 1990" Batra Infectious Greed
The Paulonomics Factor Luskin
Ron Paul can’t win, but he could make a real difference in the economics debate.
Oil, Copper Fall, Corn Down for Sixth Day on Slowdown Risk After Fed Cut   BL
What the US rate cuts mean for gold MoneyWeek
Oil battles gold for investment supremacy Mogambo
One Last Bubble...in Gold? Denning
If you simply must buy gold stocks, then heed these tips G&M
Commodity Boom Over For Now Mish
Fortis Asian Metals Monthly ~  The Silver Book Fortis PDF
China Base Demand Strong UBS
In oil-rich Alaska, an energy crunch CS Monitor
A shortage of natural gas besets the state's most populous area. In rural outposts, energy costs spike.
London falls as relief at US rate cut wanes Times Online
German is the first to go Bespoke
Hong Kong rockets on Fed; buyers back in Tokyo, Shanghai MW
Sensex recovers 864 points on Fed cut, remains wary Hindustan Times
Lex: Chinese stocks FT
ECB to Fight Inflation After Fed Rate Cut to Avert Recession, Trichet Says BL
U.K. Economy Grew 0.6% in Fourth Quarter, Slowest Pace in More Than a Year BL
European Services Growth Slows by Most Since 2003, PMI Shows   BL
Fed rate cut comes too late for Asian IPOs Finance Asia
Forget the 'R' word Toronto Sun
Flaherty and McGuinty are in denial if they think a couple of rate cuts will save the economy
Rates pain to last two years: Swan Australian

Brokers drown sorrows after fall Australian
“Stockbrokers admitted to being "shell-shocked, exhausted, depressed" as they came to grips last night with the fourth-biggest fall in Australian share market history.”

Tuesday January 22
Bank of America, Wachovia Profits Slump Amid Subprime Mortgage Writedowns BL
Apple earnings climb 58%, but outlook disappoints MW
Texas Instruments Profit Gains 13% on Increased Mobile-Phone Chip Demand BL
Down, but not out MW
The CBOE Market Volatility Index Tags a New Annual High Schaeffers
Company Default Risk Increases After Federal Reserve's Emergency Rate Cut BL
Gold reverses losses to trade up 1% as dollar falls MW
U.K. stocks close higher, recoup half of Monday's losses MW
Europe blames market turmoil on US fiscal policy FT
Global Decoupling Myth Shattered In Equity Selloff Mish
Bush Open to Changes in Economic Stimulus Plan CNBC
Momentum builds for stimulus package MW
Bush was readying for his afternoon meeting with top lawmakers just hours after the Federal Reserve slashed interest rates
UBS, Bank of America Recommend Buying Stocks During `Panicked' Correction BL
Ambac Has $3.26B Loss, Talks to `Potential Parties' After Downgrade BL Target Warns
Ambac's Downgrade Doesn't Mean End of Bond Insurers Mysak
Paulson Says US Economy Remains Resilient CNBC
U.S. stock futures skid lower as Fed fails to calm market MW
Economists, investors confident more easing is in the pipeline
Fed funds futures now point to a 2% Federal funds by September
Housing Bubble Explodes: Fed Rushes for Fire Extinguisher Baker
Bernanke presses the panic button Salon
Gross Calls Fed Cuts `Sad Testament' to the State of U.S. Economy
Bernanke Acts! FED
Canada Joins In The Act! BOC
For Canada, the effects of the weaker U.S. economic outlook will lead to additional downward pressure on export growth.
ECB, BOE May Be Forced to Follow Fed Cut, Economists Say BL
Before Fed Cut:
Markets expect wallop today USAT
Until recent days, most Fed watchers expected Bernanke's next move would be a half-point rate cut. But trading in futures markets indicates a 72% chance of a three-quarter-point cut, which would be the largest one-day move since 1984.
Markets Plummet National Post
Stock Tumble Drives 43 Benchmarks Into Bear Market BL
Several similarities between today's market and 1987 Crash MW
To Some, the Widening Crisis Seems Driven by Fear, Not Facts NYT
Blood on The Street NYP
"In all my years in financial services, I have never seen it this bad. I have owners of small firms calling me up saying their liabilities now exceed their assets, which means by law they are required to close down.”
Pimco’s McCulley calls for Fed cut ‘Now’ Lanser
A Mixed Bag of Market Conditions Hussman
The decoupling theory will be severely tested during 2008 NB Financial PDF
More Room to Fall Pearlstein
All this talk of "decoupling" may have been a bit premature.
Words From The Wise Outside The Box
Global economic crisis 'serious': IMF Chief AP
Lehman Brothers says US one shock away from a recession Thomson
Recession ahead? Many feel pain AP
The snare of stimulus Hutchinson
Tax Rebates May Be Used To Cut Debt This Time WSJ
Wisconsin tax shortfall may threaten state services JSOnline
Ron Paul blames Federal Reserve for weakening economy AP
Bank of America Earnings Decline 95% After $5.3 Billion Mortgage Writedown BL
Asia-Pacific Company Bond Risk Rises on U.S. Recession Concerns BL
8 Norwegian Towns In Crisis After Illegal Subprime Deals Dow Jones
Feeling Misled on Home Price, Buyers Are Suing Their Agent NYT
If Everyone’s Finger-Pointing, Who’s to Blame? NYT
Housing crashes through floor Chicago Business
J&J Earnings Increase 9.2% on Sales of Consumer Brands Bought From Pfizer   BL  Dupont
Wall St's earnings outlook darkens: survey Reuters
Reports: Yahoo mulling major layoffs AP
Fearing Recession, Law Firms Tighten Belts NY Sun
Toyota Falls Most in Seven Years on Recession Concern AP
Investment Bulletin Bedlam PDF
Happy (?) Anniversary Nadler
On this, the 28th anniversary of the first record price set by gold, the price of the metal is trading curiously (dangerously?) close to the very levels achieved on that historic day...
2008: A Golden Year? UniCredit  PDF Download
Corn Drops Most in 3 Months, Oil Falls on Slowdown BL
Shanghai index down 7.2%, Hang Seng crashes China Daily
Japanese Stocks Plunge in Biggest Two-Day Rout in 17 Years BL
$110bn evaporates in market bloodbath Australian
Australian stocks fell more than 7 per cent, the biggest rout since October 1987.
Gulf leads biggest Arab stock rout since 2006 crash Reuters
Warning of more turmoil as markets slump Times Online
FTSE 100 suffers biggest one-day fall Telegraph
Flashing red Economist
Why markets in Asia and Europe are tumbling
Canadian stocks ravaged Globe & Mail
“To think that the United States and the developed world can have a slowdown and it will not have any impact on emerging markets is really ridiculous. A big part of this correction is the world waking up to that reality.”
Flash Comment - Global - More uncertainty in financial markets Danske PDF
Experts Warn of Stock Market Hysteria Spiegel
Share site crashes theAge
Thousands of panicked retail investors overwhelmed the Commsec site, crashing the system as the sharemarket opened today.
Slump in margin finance orders reflects sentiment Standard
Margin orders for the four current initial public offerings continue to wane
Investors Turning to Bank Deposits on Stock Corrections Korea Times
Bank of Japan Keeps Key Interest Rate at 0.5% as Growth Misses Forecasts BL
Framing current events about the global economic and geopolitical system Fabius Maximus

Monday January 22
Global anxiety takes toll on TSX Globe & Mail
Stocks Plummet in Germany, Hong Kong, India, Brazil in Rout BL
“It's the worst I've ever seen.  The financial system is in terrible shape, and no one knows where this will end.”
How a French banker's comments derailed stocks MW
U.S. markets closed in observance of Martin Luther King, Jr. Day
U.S. stock futures point to major decline on re-open MW
US warning signs point toward a deep recession WSJ
The U.S. has suffered recessions only twice in the past quarter century and both were short and mild. There are good reasons to fear that the looming recession, if it arrives, could be worse.
A depleted Fed plugs away USAT
“Unfortunately, what this package does is underline the fact that the US economy is in a bad shape and, inevitably, it may come across as panic." Australian
Will the cure be worse than the disease? Fortune  McHugh
They may be paving the way for a bigger calamity down the road.
The Panic Stage WSJ
No logic in market madness MSN (Fleck)
Day of reckoning in the US glasshouse Times Online (Stiglitz)
Is the US economy in recession? Jackson
Without savings there can be no economic growth Jackson
What a Recession Could Mean to You WSK (Ip)
Avoiding The Abyss Newsweek (Biggs)
Bulls' fear factor grows Brimelow
Will the U.S. Recession be Associated with Deflation or Inflation (i.e. Stagflation)? Roubini
On the Risks of “Stag-deflation” rather than “Stagflation”
Banks' woes may result in big recession JS Online
Trichet, Summers See Less Optimism After Complacency BL
Sovereign wealth rules FT
Sovereign wealth funds warping market, pose insider-trading hazard Japan Times
If the West denies chances to emerging countries, it will only end in tears King
MBIA: Priced for Catastrophe Barron’s Municipal borrowers bypass troubled insurers FT
Corporate Default Risk in Europe Soars to Record After Ambac Rating Is Cut BL
Bank of China to announce more subprime damage MW
Writedown fears push Chinese banks lower G&M
WestLB to lose $1.5 bln, may write off $1.5 bln MW German Banks Flag More Write-downs
Panic selling shuts £2bn fund Guardian
Fears that other funds are at risk
Rock to be told to take deal or else Times  Northern Rock shares surge on bid hopes
There’s a serious risk ‘the global credit crisis’ will get worse Livemint (Das Q&A)
How we cashed in before the housing crash LA Times
Region's Home Prices Continue To Fall; Some Pockets Thrive WP
Homebuyers need higher credit scores, richer assets for loans Pittsburg TR
Real Estate's Perfect Storm Cleveland Plain Dealer
General Electric Considers Offer for Spanish Real Estate Company Colonial BL
Rio falls after no higher bid emerges Reuters
Burned but Bullish at Citigroup NYT
Wolseley profits fall 25% on poor US market Times Online
Los Angeles Editor Ousted After Resisting Job Cuts NYT
Gold hits 11-day low as euro weakens vs dlr Reuters
GLD Sword Double-Edged UBS
The world melts for gold WSJ
Gold-bug fever is spreading
Bloomberg: “Hedge-fund managers and other large speculators decreased their net-long position in New York crude-oil futures in the week ended Jan. 15”
Oil falls below $89 on economy concerns AP
Food price inflation is here to stay, warns chief of PepsiCo Times
Copper May Decline for First Time Since 2001 on Slowing U.S., China Demand BL
US Recession Fears Sink Global Markets AP
Europe Enters First Bear Since 03 as Stocks Fall Around the World BL
Financials in freefall; Societe Generale, BNP hammered MW
US recession fears wipe £57bn from London shares Times
Australian stocks close lower for an 11th session Australian Challenger falls on crash
Black Monday for Chinese stocks, down 5% China Daily
Markets crash, Sensex down 1,600 - Biggest intra-day fall ever - Bears loom large
Dong IPO Postponed by Denmark on Stock Market Decline BL
European Economy Takes Hit From U.S. Slowdown, Prompting ECB Rate-Cut Bets BL
Banks are making borrowing harder, industrial production is shrinking and investor confidence is waning
UK public finances in record shortfall FT
Investors pour cash into emerging markets FT
US investors last year put a record $40bn into emerging markets funds - almost double the amount of last year - while they pulled net $57bn from US, Europe and Japan funds.
Companies are caught in 'perfect storm' in Japanese market Times Online
By some estimates, as many as 47 per cent of listed Japanese companies have a market capitalisation lower than their book value
Euro at risk from Europe's own economic storm Evans-Pritchard
Euro Set for Dollar-Like Swoon as Wages Brake Growth BL
It's only a matter of time before the euro starts to imitate the dollar
Euro tumbles as equities sink FT
NZ Dollar Declines as U.S. Concerns Spur Exit From Carry Trade BL
Chinese feel pain as Beijing revalues currency AFP
China Real Estate Brokers Face Slowdown AP
One of China's biggest real estate agencies has shuttered dozens of outlets in Shanghai and other cities, leaving behind angry customers and employees, following an ill-timed expansion just as the market was peaking. Several other agencies also have closed down or scaled back.
Reliance Power prices record IPO at top Finance Asia
Is the U.S. housing mess headed our way? G&M
Economic Prospects in 2008: An Antipodean View Reserve Bank of Australia
Dubai real estate soon to be the most expensive in the world? AME
The Construction Site Called Saudi Arabia NYT
Pandemic Risk Is Now at an Unprecedented Level BL

Weekend Edition (Jan 19-20)
Key Data Releases and Events ~  Coming Week: Upside Down ~  Economy: How bad?
More BLS BS Mauldin  PDF
Job Data Passes Threshold Where Recessions Dwell NYT (Norris)
Playing catch up State Street PDF
Is Stagflation Next? BMO Focus  PDF
Daisy-Chain Noland
Are We In a Bear Market? Harding
2007 Review and Current Outlook A Bernstein
Politics trumps economics in Bush stimulus Stelzer
Odds are, U.S. is in a recession MW
Commentary: Three of 5 indicators flashing warning signs for growth
More than 3 out of 4 Americans believe a recession has already started or will hit in '08 AP
Nasdaq Historical Bear Markets Bespoke Blog
Seeking Tools to Calm a Market NYT
Dow 6,000 or Dow 14,000? It depends on whom you ask.
Bear country seen looming below Dow 12,000 Reuters
Economic strategy feels close to crash Delware Online
Foreigners Buy Stakes in the U.S. at a Record Pace NYT
Last year, foreign investors poured a record $414 billion into securing stakes in American companies, factories and other properties through private deals and purchases of publicly traded stock. That was up 90 percent from the previous year...
Baltic woes Economist
The fall of a shipping index portends trouble
Higher U.S. I-Yields Won't Allow Continued Large U.S. Current Account Deficit NBER (Pg. 3)
The next banking crisis on the way Jubak
Write-downs for high-risk, high-yield corporate debt, known as 'junk,' could dwarf losses in the mortgage mess.
Ambac Is First Bond Insurer to Lose AAA Rating After Downgrade by Fitch BL
Ambac Downgraded, Cities Seen at Risk AP
The downgrade likely means Ambac will not underwrite any more business
Should You Invest in Bonds? Prechter
The End of the Tribe of Housing: Breaking Down the National Housing Neurosis Dr. HB
Where the Fed's Mortgage Fix Falls Short TheStreet
Darling props up Rock with fresh £30bn guarantee Times
Earnings Won't Bail Out Market This Time AP
Sears to break into several companies - report AP
US carmakers still on the wrong road Times Online
New material pushes the boundary of blackness Reuters
Bullion's back in the new bear market Observer
Gold’s Rise: It’s Not Just Armageddon NYT
'Gold rush' grabs Chinese as prices hit new high Xinhua
Real Silver Highs 2 Zeal
The Political and Economic Agenda for a Real Gold Standard Mises
Buy gold when governments print money Telegraph
OPEC dismisses U.S. calls for more oil Reuters
An Oil Quandary: Costly Fuel Means Costly Calories NYT
China Eyes Latin American Commodities YALE Global
European Stocks Fall for Sixth Straight Week; Longest Decline Since 1998 BL
Rising bear mauls TSX Toronto Star
Canadian benchmark stock index staggers to its steepest weekly drop in 7 years
Massive demand for India's biggest share offering AFP
Sinking Sterling Is Catching Dollar's Disease BL
China absorbs $74.7b in overseas investment in 2007 Xinhua
Chavez threatens banks over farm loans AP

International Market Roundup Citi PDF
Weekly Trends Scotia Weekly Focus - 8-25 January 2008 Danske
U.S. Stocks Post Steepest Weekly Decline Since 2002 Amid Faltering Economy BL
Market Spotlight: Small-Cap Stock Plunge AP
“They've just been torched.  This has been our worst start ever."


Friday January 18
U.S. stock pressured by financials, economic woes MW
Indexes end with weekly losses of at least 4%; Dow off 507 points in week
Bush Proposes Stimulus Rebates of $800 for Individuals, $1,600 for Couples B Tours Factory
Ambac Drops Plan to Raise Equity Capital After Stock Falls 70% in 2-Days - WaMu Cuts
The Conference Board U.S. Leading Index Decreased 0.2 Percent CB
Consumer Confidence Unexpectedly Climbed in January, Michigan Survey Shows BL
The Great Unwinding Cross Currents
A delicate condition Economist
Fears of both recession and inflation
Looking Through the Valley to Recovery Schwab
This economic cycle is likely to look like a fat “u,” not a tall “V.”
Economic Presentation: Outlook 2008 CIBC PDF
The Bear Market is Only Beginning Comstock
Equities finally lose rosy outlook FP
Rosenberg says U.S. stock markets are only halfway priced for a recession and that is with the proviso that this is, in his terms, a "plain vanilla" recession versus "rocky road."
A long-time bull throws in the towel Hulbert  Navellier nervous Brimelow
Commentary: Dan Sullivan's model stock portfolio is now 100% in cash
Bears stalk benchmarks Chicago Tribune
Dow's 3-day decline worst in 5 years; problems intensify
U.S. economy teeters on the brink G&M
Biderman: “People are scared. They are taking their money out of stocks and running to the safety of cash."
FX Trading – Where’s the Quilted Quicker Picker Upper When You Need It? Black Swan P
The Great American Ponzi Scheme NY Sun
The few billion needed to resuscitate the wilted Citigroup will pale when compared to the tens of trillions our federal government will need to borrow in coming decades.
Bubble economics Guardian
The Fed's relationship with Wall Street has led to a high-risk policy that is blowing up a recession
Don’t Cry for Me, America Krugman
Greenspan Put Takes New Shape as Sovereign Funds Pesek
The invasion of the sovereign-wealth funds Economist
Market Outlook 1Q08: Heightened Recession Risk Threatens Global Soft Landing PIMCO
The Economic Outlook for 2008 FRBR (Lacker)
Bush to outline stimulus plan AP
Paulson predicts quick stimulus plan AP
We're All Keynesians Now WSJ
Ben Bernanke's Goldman-Sachs secret Salon
Greenspan's Client List Needs Someone Like Me Baum
Moody's cuts homebuilders' credit ratings AP
Investors service slashes grades for Hovnanian, M/I Homes, and Meritage on likelihood of further losses
Banks to suffer into '09 as credit crunch drags: S&P Reuters
Sorting Out the New Housing Market NYT (Norris)
Housing Downturn Takes A Toll On Land IBD
Report: More Foreclosures Than Workouts AP
$3 billion Cosmopolitan casino project faces foreclosure in Vegas AP
Exposing the Southern California Housing Numbers and the DQ Special Dr. HB
Wall Street’s Next Crisis: Bond Insurers? NYT Dealbook
UBS Will Close a U.S. Fixed-Income Proprietary Unit After Subprime Losses BL
UniCredit denies report of interest in Merrill Reuters
Greenlight's Einhorn faults rating agencies on MBIA Reuters
GE Fourth-Quarter Profit Advances 15% on Higher Sales of Turbines, Engines BL
Schlumberger down 5% in pre-market trades after earnings MW
Lehman to cut 1,300 mortgage jobs Reuters  Sprint to cut 4,000 jobs
GM expects $5B labor cost reduction by 2011 AP
Berkshire increases railroad stake AP
Wall Street Bonuses Hit Record $39 Billion for 2007 BL
Insight: Anthropological insights into banking behaviour FT (Tett)
Californians set to vote on massive expansion of Indian casinos CS Monitor
The measures on the ballot are being hotly debated. Officials say the state needs the revenue
Gold falls as dollar bounce slows demand Thomson
The Panic Starts Sinclair
Soaring gold price sets stage for a correction G&M
Gold ETF Ramps Up Selling TheStreet
China now world's largest gold producer MW
Gold Futures Trading Fever Grips China Resource Investor
The global grain bubble CS Monitor
As prices soar, riots rise. But it's not for lack of crops. The cause? A rush to biofuel and grain-fed meat.
Copper gains on inventory drawdowns G&M
The end of oil is just a game CNN
Retail sales fall to 13-year low on festive slump Times Online
Sterling falls as consumers feel the pinch   FT
Failures' debts up a first time in seven years Kyodo
Asia Deals: Is the Party Over? CFO
Investor Pessimism Rattles Chinese Stocks Caijing
China at a Policy Crossroads: Domestic Stability & the Future of Globalization B P
The Rise of China and the Future of the West FAffairs Reconsidering Revaluation
China property prices in major cities up 10.5% in December Xinhua
China planning to launch Nasdaq-style exchange by June MW
London Stock Exchange to open office in Beijing: agency AFP
HSBC to seek China stock exchange listing Times Online
US contagion forces Sweden to lower forecast FT
Italy Backslides to Pre-Euro Economic Malfeasance Gilbert
Australian stock market drops $147bn in 18 days Australian
Harper dampens hopes for relief measures G&M

Thursday January 18
Washington Mutual Posts First Loss Since 1997 After $1.6 Billion Writedown BL
Worst stock day of the year MW
S&P slumps 3%, Dow sheds 2.5% and Nasdaq's off 2% in bloodletting
Russell 2000 index drops into bear market territory Reuters
Cramer Rages on Banks: 'Where's the SEC?!' CNBC
When Ross Perot Calls… Newsweek
“We have to go around the world with a tambourine and a tin cup."
Bush, Bernanke Support Stimulus Package AP
Bernanke Says Fiscal Stimulus `Could Be Helpful,' BL Testimony - CSPAN
MBIA, Ambac Default Risk Rises to Record on Ratings Concern; Shares Plunge BL
Philadelphia Factory Index Plunges to a 6-Year Low -  Philly Fed -  JClaims Down
U.S. Housing Starts Drop More Than Forecast, Capping Worst Year Since 1980 BL Census
Are The Levees Starting to Break? Wakefield
Flashback: April 10, 05: An Economy On Thin Ice Volcker
I don't know whether change will come with a bang or a whimper, whether sooner or later. But as things stand, it is more likely than not that it will be financial crises rather than policy foresight that will force the change.
March 8, 1982: A Tough and Thankless Task TIME
“We have handed this it, an almost impossible task, and he's doing a magnificent job of it. The people who are picking at him wouldn't know how to sit at his desk."
The Education of Ben Bernanke NYT (Lowenstein)
Volcker: “Too many bubbles have been going on for too long.  The Fed is not really in control of the situation.”
Federal Reserve Plays Russian Roulette with US$ Dorsch
How Greenspan's policies hurt you MSN (Fleck)
Most Americans are likely to be worse off for years to come because of the bubbles created when the former chairman ran the Federal Reserve.
Bernanke Aims to Avoid Greenspan's Stimulus `Regret' BL
Bernanke Is Said to Support Stimulus Measures NYT
An Effort to Stem Losses at Citi Produces a Renewed Focus on Risk NYT
Ben Bernanke, meet Gary Crittenden. While you’re easing credit, he is tightening it.
Company analysis in a downturn FT
Recession looming in US housing-boom states FT
California and Florida - the biggest and fourth biggest state economies in the US - are either in recession or on the brink, many economists now believe.
Under the downgrade shadow Asia Times
A downgrade of US government debt, as Moody's recently indicated might be advisable, would be disastrous.
America For Sale Nightly News With Brian Williams
The Good News About the Recession Slate (Gross)
Merrill Posts Record Loss on $15B Writedown for Failed Investments B  PR
Bank of NY Mellon profit plunges on exposure to assets backed by mortgages AP
First Horizon swings to 4th-period loss, cuts payout 34% MW
CIT Swings To 4th Quarter Loss Of $123.2M, Hurt By Charges MW
Comerica profit falls 34% - PNC Net Drops 53%
Novartis Profit Falls 45% - “weak performance is exclusively due to the U.S.” AP
When former Harvard president Summers speaks, Congress listens AP
The Economy: Five Signposts to Recovery Business Week
Great Depression blogging ~  Presidential hopefuls need Econ 101 Krugman
Monetary Trends, February Issue FRBSL
Special Commentary: Housing Outlook 2008 Wachovia PDF
The Home Equity Crisis Ahead Business Week
Even banks that dodged the subprime bullet face losses from loans based on homes now at risk
Americans Pay for Housing Boom's Excess AP
U.S. Banks Seeing Higher Delinquencies on More Than Just Mortgage Payments
Convicted Appraiser Exposes Toxic Debt Connection to Inflated Home Values BL
Ambac, MBIA Face New Scrutiny From Moody's, S&P as Subprime Losses Grow BL
Subprime losses widen at MUFG Asahi
Bad loans threaten big Canadian banks' growth Toronto Star
Wealthy may be next in line in U.S. home crisis Reuters
Lenders Rethink Home-Equity Loans WSJ
Mortgage meltdown: Now the rents CNN
Mortgage Borrowers Voted Off Fantasy Island American Chronicle
Glut Of Mall Space Headed Our Way Mish
Marketing Your Home To Overseas Buyers WSJ
Housing Crisis? How About Buying a House You Can Afford! My Budget 360
BlackRock's Fourth-Quarter Earnings Rise 90% After Hedge-Funds Fees Climb BL
EU probes drug companies Reuters
What Does Goldman Know That We Idiots Don't? Lewis
No bailout for Ford, Flaherty says G&M
Could U.S. bank dividend contagion spread north? G&M
SWFs shopping for financial services providers worldwide DB Research
Green stocks get whacked FT
Goodbye Facebook, hello cheek swabs G&M
High-Rise Anxiety NYP
The Manhattan real estate mogul has been pounding on doors all over the world during the last eight months, trying to round up several billion dollars to refinance a massive slug of short-term debt that comes due next month.
Gold Gains as Investors Return to Commodities; Platinum Rises BL
Consultant GFMS predicts $1,000 gold this year MW
Investors Seized by Gold Fever amid Economy Worries Spiegel
The gold rally   FT
Sharp increases in speculative "longs" propel prices upward, but many will be waiting for a sell signal.
Beware Crowds UBS
We believe precious metals, agriculturals and energy all to be crowded trades - the recent performance of these three sectors has likely pulled in some momentum buyers.
Deutsche Bank to Expand Commodities Staff Up to 25% BL
Commodity flight in 2007 stalls at year end BMO  PDF
Moderating Chinese Growth: Bearish For Global Materials Stocks BCA Research
One Hundred Years of Middle Eastern Oil Brandeis PDF
Oil Profits Could Spark Some Backlash AP
World equities heading for bear territory FT
Bears prowling the FTSE 250 as it drops 21pc since May Telegraph
Canada's benchmark stock index is officially in the throes of a "correction" TStar
“As far as I'm concerned, the bear has begun”
Australia loses $40B in sub-prime wipeout Australian Stocks close lower for a ninth day
The Short View: Decoupling FT
Why Europe should thank China Taipei Times
China hikes bank reserve ratio to 15% Xinhua
Asia Ponders Its Astounding Foreign Exchange Reserves Asia Sentinel
The greatest shift of capital in world history, now washing across Asia, poses a dilemma for policymakers
China up close: Understanding the Chinese economy and fi nancial system Moscow PDF
Stock market plunge rattles Japenese PM Telegraph
Japan's PM Yasuo Fukuda pledges to intervene if necessary to stop recession
India's biggest share offer oversubscribed 13.85 times AFP
China to lead IPOs again in 2008 Financial Standard
Government's court order plan to protect borrowers from debt spiral Times
Canadian Economy: Slower Growth in 2008 Morgan Stanley
Mersch Warning of `Downside' Growth Risks May Signal Shift in ECB Stance BL
Market comment: UK bankrupt despite 15 years of growth Telegraph
India Is Right to Avoid Western Bank Fire Sale BL
Gulf states’ foreign assets to top $2,000bn FT
Xceed Mortgage swings to loss G&M
The banks' £4bn protection racket Independent
Ex-Yukos Executive Tells of Blackmail Moscow Times

Prices spiked 4.1 percent last year, the highest increase in 17 years CS Monitor
U.S. consumers strained by price surge last year Reuters
Despite signs of a slowing economy, foreign investors continued to pour money into U.S. investments. TIC

Wednesday January 16
Fed Says Economy Slowed at End of Year, With Holiday Sales `Disappointing' BL BBook
Builder Confidence Virtually Unchanged In January NAHB
Gold tumbles more than $20 as dollar gains MW Butler
Futures Movers: Oil falls as U.S. inventories rise more than expected MW
Wall Street needs to take its medicine Harrison
How Wall Street broke the free market Salon
U.S. December Factory Output Unchanged as Exports Offset Housing Weakness BL FED
U.S. December Consumer Prices Rise 0.3%, Signaling Inflation May Be Easing BL BLS
JPMorgan Profit Falls 34%, Missing Estimates, After $1.3 Billion Writedown BL PDF
Wells Fargo Profit Declines 38% as More Borrowers Miss Home-Loan Payments BL
Another round of earnings from banks and brokers will be arriving today Street
Black boxes full of bad debt G&M
“Everyone who thinks they know with any precision what any of these earnings are going to be is just kidding themselves.”
Slash In Rates Expected FP
Interest-rate futures are now pricing in a 54% chance of 75 basis points of cuts by the meeting at the end of the month...The Fed has not slashed rates by 75 basis points since it began announcing rate moves in 1990.
The Fed's 20-Year Misguided Monetary Adventure Fake Ben
Recession Theorists Confront Recession Reality Baum
Chief Executives' Confidence is at a seven-year low Conference Board Comfort Index dives
How January goes, so goes the year? Hulbert
Bear Market In Force -- C-YA! Barbera
Drop puts U.S. stocks in reach of bear market's claws Reuters
For investors who worry about "head and shoulders" patterns and long-term trend lines in the three major U.S. stock indexes, U.S. stocks are on the cusp of falling into the abyss.
Washington's hard case: How to juice economy WP
Asian stocks lower on talk US Fed holding emergency meeting Thomson
S&P hikes mortgage loss expectations, ratings eyed Reuters
IndyMac Laying Off 2,403 Employees AP
Ambac Will Cut Dividend, Raise $1 Billion in Capital; CEO Genader to Leave BL
MBIA's Capital Need Grows as Derivatives Show Waning Confidence BL
3 risks Merrill investors face Fortune  Citi's credit hangover
Citi's Standing Starts To Slip Amid Losses NY Sun
“Basically, the reputation of American financial firms is going to be shattered. Banking is just another industry we are going to lose our dominance in, just as we did in manufacturing."
Citi and Merrill issue bail-out convertibles Finance Asia
Buddy, Can You Spare a Billion? NYT
Japanese banks to bail out US firms Times Online
After Citi bail-out, what about UK banks? Independent
Sovereign Wealth Funds: Saviors or Saboteurs? NY Sun
SIV Asset Values Fall to 53% of Capital, Moody's Says BL
Gordon Brown says Rock may be nationalised Times
N.Rock sinks to record low on nationalisation fear Reuters
Centro savaged as chief quits Australian
East Europe warned on subprime fallout FT
Big banks consider defying rate cut G&M
Some of Canada's big banks are contemplating holding their prime rates steady in the face of a rate cut by the Bank of Canada, a move that could destabilize the country's monetary policy.
Is It Safe to Buy Asset-Backed Commercial Paper (ABCP) Again? Standish PDF
Shiller: New York Housing Market to Crash, Too Blodget
Southern California home sales dive as buyers exit Reuters
As baby boomers retire, home markets will hurt USAT
The next housing downturn is already on the horizon — and it looks like it's going to be a long one.
Trader Made Billions on Subprime WSJ
Real Homes of Genius: Today we Salute you Calabasas Dr. HB
New Job Cuts Heighten Recession Fears CFO
Here comes the earnings recession Reuters
A transatlantic recession in corporate earnings is an increasing possibility for 2008, setting up further disappointment for equity investors.
Industry inflows slowed during fourth quarter: HFR MW
But 2007 still saw record amounts of money poured into hedge funds
When Blackstone Goes Private, It's Time to Buy BL
Homestore CEO's fraud conviction overturned SF Chronicle
SEC: Ex-PwC Pals were Inside Traders CFO
Bankrupt Art Dealer Asks to Sell House for Millions NYT
The current credit crunch is more than the bursting of a ‘bubble’ The Hindu
“People entering the industry who want to bluff their way through a interview for that high-paying derivatives job love the Guns book – it’s a great Bluffers Guide to Derivatives”
Gold in retreat from record high BBC
The appeal of gold Econoday Whither India? Kitco
Oil Falls on Signs of U.S. Economic Slowdown, OPEC May Increase Production BL
IEA:Global Oil Market Tightening On Stock Fall,Firm Asian Demand Dow Jones
More good news about Peak Oil, on the demand side Fabius Maximus
Rising diesel prices smack businesses Philly Inquirer
Wheat Rises as Freezing Weather May Damage U.S. Winter Crop BL
Pork prices soar 70pc Standard
Saudi asks SABIC not to raise fertilisers prices Reuters
US recession fears hammer Asian stocks FT
Hong Kong Stocks Have Biggest Drop Since Sept. 11 Attacks BL
Quotable: “American financial mismanagement has brought us to this economic meltdown. Asian stock markets are all suffering; nobody has escaped.”
Subprime crisis again, Sensex sheds 712 pts India Times
Australia closed heavily in the red today – its eighth negative day in a row Herald Sun
Footsie plummets towards 6,000 barrier ThisisMoney
The recent sell-off now means UK mid-cap stocks are now officially in a bear market.
House prices drop 'at fastest rate in 15 years' Telegraph
Recession risk as British bills come due Reuters (Saft)
Many of the excesses of the debt boom in Britain have been on par with, or even worse than, those in the United States
Japan's Current-Account Surplus Widens on Investment, Exports BL Machine Orders Fall
Dollar at 2 1/2-Year Low Against Yen on Widening Credit Market Losses BL
China and India: New Vision, Old Tensions Business Week
It's Scary We Know Nothing About Chindia Prices BL
Labor unrest growing in China: activist AFP
India’s chance to overtake China Asian Investor
Huge demand for India's biggest share offer: banker AFP
Low-income sole traders dominate stock market Xinhua
Middle and low-income earners accounted for 70% of China's 136 million investors last year
Bubble squared? $21.7 trillion seen in EM infrastructure investment FT Alphaville
After a stellar 2007, the emerging markets are being fingered as the next emerging bubble.

Investors flee to safety as recession fears mount USAT
The Standard & Poor's 500-stock index's 11.8% decline from its October high, which includes Tuesday's 2.5% plunge, is tame compared with the declines suffered in past recessions.
Investors Show a Deepening Pessimism NYT