feednov08






		Thursday November 13, 2008 Stocks end sharply up, erasing three days of losses MW Dow sees 911-point swing to close on third-biggest point gain on record Federal deficit balloons on bailout costs MW Soros: Deep recession inevitable, depression possible Reuters Nardelli Says Chrysler Is in Crisis, Needs Aid in `Unprecedented Downturn' BL Treasuries Drop After Weaker-Than-Forecast Demand for 30-Year Debt at Sale BL GE, Shares Falling, Repeats It Will Keep Dividend BL The ONLY Bull Market Still Standing EW Financial system may need over $1 trillion: dealmakers Reuters Soros, Falcone Defend Hedge-Fund Industry in Congress, Split on New Rules BL U.S. Sept Trade Deficit Narrows More Than Forecast on Decline in Oil BL Census Jobless claims reach 516,000, highest in 7 years Reuters DOL Five Nobel Economists Offer First Aid for Global Economy Spiegel OECD says developed world in recession AP OECD Dimon: Recession could be worse than market crisis AP Tracking Recent Changes in Financial Market Stress NT PDF Margin Clerks Take Charge Barron’s "Brutal" forced selling suggests the market hasn't bottomed. A week of historic desperation on Wall Street MW Commentary: Current conditions have that 1929 feel Credit-Crunch Villains Pass the Buck, Party On Gilbert Irrational exuberance redux Hulbert The investor who bought and held stocks has less than nothing to show for the immeasurable agony through which he has suffered over the last dozen years. Congressmen Join Investors Pressing Fed for Lending Disclosure BL Paulson flip casts doubt on bailout G&M Barry Ritholtz: “What was supposed to be a narrow and limited attempt to reduce the systemic risk of a financial collapse has become a taxpayer-funded free-for-all" Paulson's Lilliputian moment Asia Times Where Is The Bailout Money Really Going? CBS Hard Times, But Big Wall Street Bonuses CBS Mystery Shrouding How Much Of The Money Will Come From The $700B Bailout NY's Cuomo Seeks Data on Bonuses at BofA: Report Reuters Bernanke Refusal to Buy Genworth's Commercial Paper Shifts Burden to Bank BL Brooksley Born Is `Vindicated' as Credit Swaps' Regulation-Free Ride Ends BL Still Ticking WP How regulators and industry can disarm derivatives 20 leaders walk into a room...carrying the weight of the world TheAge The party's over Asia Times The march towards the Washington summit in a couple of days seems bereft of any references to the balance sheets of US and European governments... The G-20 Economic Summit: More Symbolic than Substantive? Wharton The G-20’s Secret Debt Solution M&M We don't want another Bretton Woods Stelzer EU Proposes S&P, Moody's Regulation to Address Crisis BL Bush Warns Against Dismantling Free Market System BL Bush and Obama wary of G20 commitments FT Economic Presentation: Just How Big is Cleveland? CIBC PDF TARP Readjustment: California, Florida, Nevada, and Arizona on a Economic Island MyBudget 85,000 homes lost to foreclosure in October CNN CalPERS' housing portfolio loses 35% in a year LAT Bubble economist headlines real estate event Inman Grim Outlook: Defaults Will Be Soaring CFO Last month's report forecast the global default rate would hit 7.9 percent by September 30 2009. This month's report predicts the default rate will hit 10.1 percent by Sept. 30, 2009. The Golden Years, Tarnished NYT “People are grieving. There was a death. Their money died.” Wal-Mart Shares Slip on Weak Profit Guidance CNBC Retail Losses Sap a Jobs Safety Net WSJ Intel warns of sharp sales drop Fortune Intel's shock warning sounds alarm for tech sector Reuters Nortel at Risk of Delisting, Insolvency Deal AIG Rescue Avoids Repeat of the Lehman Debacle Berry SABMiller warns of cutbacks Reuters Why GM can't survive bankruptcy CNN It’s Quality, S***! Korea Times Hedge Funds Lost $100 Billion in October on Withdrawals, Eurekahedge Says BL Swiss-listed hedge fund Gottex temporarily suspended redemptions Reuters Top hedge fund managers face lawmakers Reuters BT Will Cut 10,000 Jobs by March, Reports Lower Second-Quarter Earnings BL Google Estimates Getting Cut, But Still Not Enough Blodget Endowment Issues: Each School's Exposure Havard Magazine ETFs for the Long Haul Hahn PDF Is Now the Time to Buy Stocks? WSJ Meltdown puts red flag on Bruton's billions Charlotte Observer Art market in shock as Christie's calls halt to Francis Bacon sale Times A significant sign that the global financial tsunami is breaking over the international art market Who Are The Worst Economists? We're Starting A List Clusterstock Gold May Exceed $1,000 in Three Years on Mine Supply, Morgan Stanley Says BL Oil falls to 22-month low at $55 on recession fears Reuters Now More Than Half Way UBS Commodity Prices, Inflation and Expectations HAVER Brazil welcoming Big Oil to its party MW Has the sun set on clean tech? G&M Russia Stocks Slide, Kuwait Shuts as Oil Roils Emerging Markets BL Crime Wave Hits Moscow as Russians Carry Cash in Credit Crunch BL German Economy Slides Into Recession With Biggest Contraction Since 1996 BL Bank of England: Economy to shrink by 2 per cent, forcing further interest rate cuts Tele Abandon all hope once you enter deflation Ambrose Evans-Pritchard Deflation has reached the City. It has engulfed housing and now threatens to spread through the broader economy, lodging like a virus in the British and global monetary systems. New measures unveiled to spur growth China Daily Impact of financial crisis on China 'worse than expected': Wen AFP China stimulus will have little global impact, says J.P. Morgan Finance Asia China: Risk of a hard landing is increasing Danske PDF Japan's Mizuho to raise funds as profits dive AFP Japan to offer $100 billion to the IMF Times Heady Days Gone, City of London Struggles NYTD If Dubai sneezes, who gets a cold? LA Times Up to 11,000 Macau workers to lose jobs AP Downturn May Tighten Mafia Grip on Italy's Economy Reuters Wednesday November 12, 2008 Stocks Battered on News Gov't Won't Buy Banks' Assets, Dow Plunges AP Two-year Treasury yields reach lowest since 2003 MW Paulson Scraps Plan to Buy Troubled Assets, Shifts Focus to Consumer Loans BL Treasury Fed to banks: Go forth and lend MW FED Sands's Adelson Survives Like `Cockroach' After More Than $30 Billion Loss BL U.S. Slump May Be Longest in Three Decades as Economy `Fell Off a Cliff' BL Beyond a Deeper Recession: Tepid Recovery Berner Merrill chief sees severe global slowdown FT Global Financial Markets Have Yet to `Bottom' After Rout, Jim Rogers Says BL Stopping a Global Meltdown WP Recession Deniers Peddled the Same Lame Excuses Baum In For It New Yorker Getting it right and still losing Hulbert Schultz, Ruff and Dines show you can get lots of things right and still lose big. The great expression Harrison Setser - Keen - Roseman - Mogambo Fear and Greed at the DC Money Show … M”&M Buying Binge Slams to Halt NYT (Leonhardt) Consumer spending appears likely to fall next year for the first time since 1980 and perhaps by the largest amount since 1942. Nowhere to Hide: Special Holiday Edition Mesirow Financial PDF U.S. holiday sales seen down 1 per cent G&M Sales Drop Drain Sears Cash in Holiday Crunch BL Analyst: California faces $28 billion deficit AP Bush administration still working on $700B rescue AP Lobbyists Swarm the Treasury for a Helping of the Bailout Pie NYT As More Companies Seek Aid, 'Where Do You Stop?' CNBC Bail-Outrage: Misuse of Funds, Lack of Transparency a National Disgrace Tech Ticker Academics: TARP shifts wealth to banks NakedShorts The Bailout of the Bailout of . . . WSJ Fed Said to Seek Lead in Overseeing New Credit-Default Swap Clearinghouse BL U.S. mortgage plan falls short CNN GM Is Judged Too Big to Fail as Pelosi Embraces Rescue Plan for Automakers BL AmEx seeks $3.5 billion from government: report Reuters Toll’s Plea: Subsidize House Prices Norris Paulson adds to AIG folly Morici The Crisis & What to Do About It Soros Home values drop for 7th straight quarter Reuters Unsold Ferraris, no free drinks as crisis spikes Reuters ING Reports First Loss in History After $1.9 Billion of Asset Writedowns BL Best Buy slashes profit outlook Reuters Las Vegas Sands proposes $2.14B rescue plan AP Adelson has doubled down on his half-billion dollar bet in a plan intended to keep the casino company from defaulting on its debt and falling into bankruptcy. Meltdown sets back hedge fund master G&M Which Hedge Funds Are in Trouble? CNBC Ski resort for super rich files for bankruptcy Reuters Law Firms Feel Strain of Layoffs and Cutbacks NYT 7 investing themes for tough times Fortune Gold Declines in London Trading After Crude Oil Drops, Dollar Rebounds BL After the credit crunch, the oil crunch: watchdog warns over falling supplies Guardian -- Nov 12: Launch of the World Energy Outlook 2008 IEA ~ Key Graphs The Commodities Rout Worsens BMO As All Sub-Groups Suffer Heavy Losses Teck Cominco's debt dilemma G&M Salt prices put states in a pinch Stateline Russia lifts rates to 12pc to save rouble as crisis deepens Ambrose Evans-Pritchard “If people lose confidence, we could have a massive run on the banks as we saw twice in the nineties: then the game is up” Russia: Higher rates will have limited short-term effect Danske Russia Debt Risk Jumps After `Clumsy' Ruble Widening, Rate Rise BL Russia may have to tap reserves fund in crisis AP Markets Plunge on Ruble Fears Moscow Times HKMA defends peg three times in two hours Standard King Says BOE Is Prepared to Cut Interest Rates Again as Inflation Slows BL Britain may have to up equity infusion Reuters (Saft) Unemployment hits 11-year high of 1.82 million Times Online China's Bazooka Beats Henry Paulson's Peashooter Pesek China retail sales rise 22% in October Xinhua Japan's Corporate Bankruptcies Rise to Five-Year High BL Failing Like Japan Fool How bad could the crisis get? Lessons from Iceland VOX The Icelandic banking crisis and what to do about it CEPR Waiting for Financial Aid in Iceland Spiegel Ottawa boosts effort to fight spreading credit credit crisis G&M 5,000 jobs axed as City forecasts 3m by 2010 Independent Goldman Sachs Japan cuts IBD staff Finance Asia Job Axe Arrives in Financial Industry Korea Times Crisis wipes out Bay Street jobs Toronto Star Chiefs swept away in meltdown Australian Amid crash, pensions hit new depths G&M Plunging stock markets wreak havoc with final-salary pensions Scotsman Tuesday November 11, 2008 Gold futures close about $14 lower in broad metals pullback MW Gas marches toward $1.50 a gallon; crude sinks below $60 AP GM's Skid Accelerates as Credit Crisis, Slowing Sales Threaten Bankruptcy BL Fannie, Freddie to Modify Mortgages, Stepping Up Bid to Limit Foreclosures BL Unemployment by industry: Brace for Impact iTulip No end in sight? Reuters Small business optimism tanks in October: survey - Chain-store sales up Uncle Sam's Credit Line Running Out? Barron’s The yield curve and credit default swaps tell the same story: the U.S. can't borrow trillions without paying a price. China: Is Beijing's "New Deal" Stimulus Plan Really "New" Or Even A "Deal"? NT PDF Lost within the blurry figures is how much of this “new spending” is actually a repackaging of programs already queued up for implementation, with their costs now announced as “stimulus” Unprecedented Saut PDF Bottom debate finds contrarians contrary Hulbert The great bond market crash of 2009 Bear’s Lair Why Washington Cannot Prevent Depression Weiss Faber Says Corporate Bonds `More Attractive' Than Stocks BL Video Get out there and spend Kellner The "Paradox of Thrift" Saville Allison - Dr. HB The Bretton Woods sequel will flop FT Bretton Woods II – A Roadmap Merk The Summers Conundrum The Nation Hopes for the Future Paul Franklin Delano Obama? Krugman Obama asks Bush to provide help for automakers IHT Georgia congressman warns of Obama dictatorship AP FX Strategy - IMM positioning: Volatility causes speculators to reduce exposure Danske P King Henry's bailout like Rummy's Iraq Farrell Paulson's Revised AIG Terms Begin Treasury Transfusions to `Zombie' Firms BL The rising cost of the bailout Bailout Sleuth A Town Drowns in Debt as Home Values Plunge NYT Homeowners cling to false optimism about own home AP Citigroup Offers to Ease Mortgage Terms NYT The Law Of Unintended Economic Consequences Forbes The incoming Obama administration should keep Newton's third law of motion in mind Goldman Sachs urged bets against California bonds it helped sell LA Times The Wall Street titan's activities could have harmed taxpayers, officials say. Toll Brothers Reports Revenue Decline as Demand for Luxury Homes Plummet BL InterContinental warns on outlook; quarterly net off 28% MW GM shares hit 60-year low on worries of collapse AP American Express to Become Bank Holding Company NYTD Macau leader: No plans to help Sands' financing AP Harvard seeking spending cuts amid economic crisis AP Amylin lays off 340 San Diego employees Union Tribune Bonuses for Bailed-Out Wall Street Should Go to Zero, U.S. Taxpayers Say BL Buffett, Ross insurers eye Dexia U.S. unit: paper Reuters Bidding Starts at $100,000 for Quick Buffett Portrait CNBC Gold futures surrender 2% in broad metals pullback MW Oil falls near $60 as China optimism wanes G&M What lower oil prices mean for the world FT Copper Falls as China's Consumption May Take Months to Rebound BL Iron ore slashed as China slows Australian Asia stocks lackluster, China stimulus hopes wane AP A Fundamental and Critical Reconsideration of EM Morgan Stanley Global crisis hits over 1,300 south China firms: report AFP Europe Faces $2 Trillion in Debt Refinancing: S&P Reuters Mortgage market will shrink by 80 per cent this year, says Nationwide Independent Homeowners' new reality: You're suddenly poorer G&M Dubai market drops over 7 percent, extending slide AP As fears grow that the Gulf's property and investment boom won't escape fallout from the global financial crisis Ruble Weakens the Most in a Month, Triggering 10% Plunge in Russian Stocks BL Banks Getting Cold Feet Over Gov't Guarantee Chosun Monday November 10, 2008 Wall street falls, unable to shake economic woes AP Gold futures close more than $12 higher MW Monday Outlook: Uncertainty Is in the Air as Wall Street Prepares for Change Schaeffers Global Stocks, U.S. Futures Rise on China Stimulus; Oil Rallies, Yen Falls BL How Low, How Bad, How Long? Hussman Fed Defies Transparency Aim in Refusal to Identify Bank Loans BL “It's your money; it's not the Fed's money. Of course there should be transparency.'' Bernanke Put Shows Fed Securing Markets Beyond Greenspan Grasp BL Yield Curve May Steepen to Record as `Teeth' of Recession Favors Two-Years BL Obama set to push ‘big bang’ reform package FT Can Democrats handle the hot seat? MSN (Fleck) Obama's New Deal v. the US economy Jackson The Obama Market: What's Hot, What's Not Barron’s Sectors likely to be helped -- or hurt -- under the new administration. Barack Obama's wind of change blows apart the Senate Times Online The economic consequences of hope and change Stelzer Emptying Pandora's box IHT (Cohen) Believing in Estimates Means S&P 500 Rallies Record 20% Before 2008 Closes BL Does a bigger boom imply a bigger bust? Setser Bear Stearns Risk Manager to Guard New Henhouse Baum Everyone’s Watching New Yorker (Surowiecki) Creditor nations may be looking to pick up some corporate silverware King U.S. Automakers Gain Bailout Support, Wait for Terms, Timing BL Barack Obama backs plea for Henry Paulson to extend bailout to car industry Times It is believed that Obama is supportive...but it is also understood that he is drawing up his own plans to provide federal assistance to help the American car industry to survive Uncle Sam's do-over: New AIG bailout CNN A.I.G. May Get More in Bailout NYT HSBC Sets Aside $4.3 Billion More for U.S. Loan Losses, Sees Deterioration BL Crash Course Barron’s Many college endowments are learning that they can't make the grade by simply copying the work of star investors. Rethinking alternative assets. Market’s Collapse Echoes in a Manhattan Tower NYT How I bought a foreclosed house LA Times The Mansion Trap Vanity Fair Fannie Mae Posts Record $29 Billion Quarterly Loss After Asset Writedowns BL DHL cuts 9,500 U.S. jobs - Circuit City files for bankruptcy - Nortel cuts another 1,300 jobs GM Cut to `Sell' at Deutsche Bank, With New Share-Price Estimate of Zero BL NRG rejects $6.08 bln Exelon bid Reuters Fuld Solicited Buffett Offer Lehman CEO Could Only Refuse as Firm Fizzled BL Fuld had saved some money, yet he rebuffed a Buffett stake... Winding up Lehman Brothers FT Investors Lick Wounds From Dividend Cuts WSJ Stock Pickers Struggle for Bear-Market Edge WSJ What Crisis? Some Hedge Funds Are Gaining NYT Gendell, Scholes Are Losers as Hedge Funds Drop for Fifth Month BL SAC Capital (Sorta) Dodges Bullet (San Fran Office, Not So Much) DealBreaker Buffett had bit part in HIH fall Australian Bonus Jackpot Can Be Yours in Five Easy Steps BL (Lewis) It may still take awhile before Wall Street finally accepts that it won't get paid. Pawnshops doing brisk business USAT Gun Sales Increase Ahead Of Obama Pesidency Breitbart TV More Americans raise chickens in their backyards CS Monitor Democratic leaders in the U.S. House discuss confiscating 401(k)s, IRAs Carolina Journal China rides to metals commodities sector rescue Mineweb Crude Oil, Metals Surge as China Unveils $586 Billion Plan to Boost Growth BL Disinvestment Decelerates UBS Commodities: dont panic! MiningMx Asian stock markets gain on China stimulus plan AP Beijing gambles on £375bn rescue as Golden Years come to an end Times China's new reality: Economic boom is slowing AP Japan's machinery orders post biggest drop in decade AFP Oct. foreign reserves dip Japan and banks all in firing line Reuters China considers policies to promote auto sales China Daily Taiwan cuts rates fourth time in 2 months; benchmark now 2.75% MW Fitch lowers credit outlook on emerging economies AP Fitch downgrades ratings outlook on SKorea AFP The banks just don't get it – they're lucky to be alive Telegraph Analysts Never Advise Investors to Sell Stocks Korea Times Sweden's D. Carnegie Loses Bank License After Losses; Watchdog Takes Over BL Santander to raise $9.25 bln of capital MW Latvia takes over 2nd largest bank as crisis hits Reuters Credit crunch bursts Baltics' property bubble Reuters Ruble Devaluation Looms on Oil; Troika Sees 30% Drop BL Nationwide profits slump on 17% mortgage fall Times Online India's auto sales plunged in October AP Retailers see rise in shoplifting as downturn bites FT Summit Pits Bush Against Sarkozy-Merkel Push for Global Markets Regulation BL Brown Seeks `Global Consensus' on Tax, Spending at G-20 Summit BL UK's Brown: Now is the time to build global society Reuters Canada, bastion of free markets? FP Harper, Flaherty urge moderation in intervention Weekend Editon (November 8-9, 2008) China announces $586 billion stimulus plan AP Security Pacific Bank fails, 19th in US this year Reuters FDIC Franklin Bank closed, 18th failure this year MW FDIC Key U.S. Data Releases and Events GInsight Week Ahead Merk Worst retail sales trend since 1974 expected MW G-20 Urges Coordinated Fiscal Stimulus to Cushion Impact of Global Slump BL BRIC targets broader body to replace G7 G&M Emerging Economies Pledge New Stimulus Brazilian Finance Minister: The days are over, when emerging markets sit on the sidelines of G7 meetings “drinking coffee” while they wait to be consulted Brazil's Lula calls for shake-up of global finance Reuters How the Thundering Herd Faltered and Fell NYT (Morgenson) The Real Mandate Is to Bridge the Wealth Gap NYT (Shiller) The Problem With Deleveraging Mauldin Bottom or Continuation Pattern? Swenlin Stock Bull Being Born? ZEAL Is There Enough Investor Fear For a Market Bottom? Harding Debt Trap Noland The Reagan Counterrevolution Schiff Schiff on CNBC The paucity of hope State Street PDF Deflating Deflation BMO Focus PDF Main Street Credit Crisis: Bringing Back Layaway for Purchases... Dr. HB Bloomberg Sues Fed to Force Disclosure of Collateral BL The Fed didn't give Bloomberg a formal response because “it got caught in the vortex of the things going on here'' Recapitalizations – Rate Cuts – Yen becomes Hard Currency Merk U.S. Sneezes, and Nearly Everyone Catches a Cold NYT (Norris) Sure, It All Sounds Grand, but Don’t Forget the Gravitas NYT (Stein) Mankiw U.S. Buying More Loans to Students NYT 75 Years Later, a Nation Hopes for Another F.D.R. NYT (Nocera) Summers at Treasury: What Would We Tell the Children? Baker The Mortgage Meltdown, Financial Markets, and the Economy Yellen Homebodies Take On Joads in U.S. Real-Estate Bust Mysak Open the Door and Turn on the Lights NYT FSN Broadcast for Saturday, November 8 Financial Sense Top hedge fund managers 'funereal' in midst of financial crisis MW Credit Suisse shuts down bond fund MW USG cuts 900 jobs as economy deteriorates Reuters Automakers struggle to survive past mistakes AP Running on fumes: GM could soon run out of cash AP US Car Makers Turn To China & Capitol Hill For Help NBR Transcript Las Vegas Sands Is `Committed' to Completing $4 Billion Singapore Casino BL Ambac May Be Open to Capital Injection from U.S. Treasury, Wallis Says BL Hedge fund Citadel shuttering Bermuda reinsurer Reuters Judge won't take action against SEC officials AP U.S. judge orders Apple executive to stop work Reuters Trump sues lenders of unfinished skyscraper: WSJ Reuters John Maynard Keynes: Can the great economist save the world? Independent 11 Stocks Selling Below Cash Seeking Alpha Timing the next rush to gold IHT Saudi Aramco Chief Says Oil Price Declines May Curb Investment in Industry BL Storm hits shipping industry China Daily “Container's traffic volume for 2008 as a whole is now projected to be 5.5 percent less than the 2007 traffic volume, with no turnaround expected in the next six months” Shipping floored - Could it get any worse? FT Alphaville Steelmaker Corus to cut production by 30 percent AFP China Closes down Overseas Mining Investments Asia Sentinel Hong Kong banks cut prime lending rates AFP Why the idea of new bear market is not so farfetched FT “It has been a house of cards waiting to fall. The market has to slide much further down the slope of hope into Dante’s inferno.” Stunned Icelanders Struggle After Economy’s Fall NYT The Yuan Revaluation Train has Left the Station Asia Sentinel Banks' bad debts keep piling up Australian Banks profits jeopardised as Libor falls Telegraph Banks finally shamed into cutting rates ICICI calms doomsayers over stability ThisisMoney India's brothers grim Business Spectator Corporate India Starts Slashing Dividends Economic Times European (dis)union G&M It's been 10 years since the birth of the euro zone, and the dream of global economic clout. But now the blanket is tearing, threatening a disastrous derailment of the monetary union Rich nations should ditch 'unsustainable' lifestyles: China's Wen AFP Equity Markets at a Bargain, 13 Upgrades To Our Star Ratings! iFAST Week In Review NT Weekly Focus Danske Weekly Trends Scotia PDFs Jobless ranks hit 10 million, most in 25 years AP “There is no light at the end of the tunnel, and the outlook is pitch black” Oct 2008 Employment Report: Deep Economic Woes Will Take Long To Fade NT PDF October 2008 Job Report: Digging Deeper into the Data MyBudget360 Goldman: Unemployment rate is expected to rise to 8.5% by the end of next year and inch even higher in early 2010 Friday November 7, 2008 Buffett's Berkshire Hathaway Net Falls 77%, Fourth Straight Earnings Drop BL Stocks close day sharply higher, pare weekly slide MW GM Says It May Not Have Enough Cash to Finish Year, Suspends Merger Talks BL Bottom months away: Greenspan G&M Goldman Cuts 2008, 2009 S&P 500 Profit Forecasts, Citing Economic Slowdown BL Jobless Rate in U.S. Jumps to 6.5%, Highest Since 1994, as Payrolls Tumble BL BLS Pending Sales of Existing Homes in U.S. Decline 4.6%, More Than Estimated BL Wall Street Lays Another Egg Vanity Fair Not so long ago, the dollar stood for a sum of gold, and bankers knew the people they lent to. Fed capitulates: the central bank is broken FTA No wonder, as Krugman says, Fed officials are “nervous”. This is an all-out gamble. Fed lends another $100B to companies CNN Obama May Want to Demand a Recount Comstock Corporate Profits: Global Recession Intensifies Downside Risks Berner The Worst Behind: Challenges & Opportunities Ahead Hahn PDF After Shocks from the October Meltdown Dorsch Unfriendly Trends Panzner Deflation: the new threat Fortune (Barr) Deep global rate cuts show that policymakers fear a drop in price levels, regardless of their brave words. Vanishing jobs, stressed consumers feed downturn AP The Grinch May Roil Holiday Sales This Year Wachovia PDF Camelot legacy not all that inspiring for stock market Hulbert Obama's promises face a rough road ahead CS Monitor Hospitals See Drop in Paying Patients NYT “It’s safe to say hospitals are no longer recession-proof” 5 Reasons Why California will see a Deteriorating Economy in 2009 Dr. HB U.S. Financial Data, November 6 Issue FRBSL FDIC: Another Government Lender at Risk Business Week Las Vegas Sands Chief Said to Hold Talks With Singapore Amid Cash Crunch BL Job losses fueling foreclosures CNN Bad loans were originally the main culprit driving homeowners into foreclosure. But now it's unemployment that's fueling the mortgage meltdown. O.C. builder buys its own debt at 77% discount OC Register Detroit's dire outlook: Industry braces for earnings news today USAT U.S. Automakers Said to Seek $50 Billion in Federal Loans as Sales Plunge BL GMAC Leaves `Mom and Pop Investors' With $15 Billion of Auto Lender's Junk BL Workers fret as Ford, GM cuts expected Friday AP Lenovo says profit down 78 percent on weaker sales AP Microsoft CEO pours cold water on Yahoo interest Reuters Yahoo!'s Yang: The 'Height of Hubris' CNBC Economic downturn hits Disney, shares slide Reuters Indian Airline Defaults on Payments to GE Economic Times Are alternative fuels reliving the 1980s? CS Monitor Today’s slumping oil prices may undermine viability of alt-fuel programs – again. Canadian Natural's cuts a blow to oil patch G&M The bulk of the next phase of the oil sands is effectively on hold. Global shockwaves roil Brazil's offshore plans G&M The New Gold Rush NBR Bank of Korea Cuts Rates for Third Time in a Month to Stave Off Recession BL Only a few will feel full effect of rate cut Times Online Mortgage brokers said the full-scale withdrawal from the tracker market in a single afternoon was unprecedented. Banks urged to pass on cut in interest rates China's figures start to disappoint Finance Asia According to data provided by J.P. Morgan, third-quarter earnings growth for 1,005 companies listed in Shanghai or Shenzhen that had reported by October 28 dropped by an average of 20.8% year-on-year. China data may show sharp deterioration Standard Both Gong and Wang believe exports in October could be down by as much as 20 percent. Global slowdown hits trade at China export fair: report AFP Bank bailout bill clears Lower House Kyodo More Companies File for Protection Chosun Poll Says 48% of Russians Fear for Jobs Moscow Times Greed is good, says Japan pension fund exec Asian Investor Thursday November 6, 2008 Stocks Bow to Bad News; Dow Slides 5% TheStreet IMF now sees global recession in 2009 MW IMF Las Vegas Sands Plunges After Casino Operator Says It May Default on Loans BL Dana to cut more jobs - Fidelity - Navistar - AMD - AQR - MGPI - CDNS - DSW U.S. Jobless-Benefit Rolls Climbed to Highest Level in 25 Years Last Week - JClaims U.S. Productivity Rises 1.1%, More Than Estimated; Labor Costs Climb 3.6% BL When the Chickens Come Home to Roost Absolute Return Letter PDF 'Old Europe' Bedlam PDF The recession’s accidental winner For Obama, Long-Term Ills and Short-Term Pain NYT (Norris) Obama's Change You Can Believe in Meets Reality Baum Barack Obama will bring step-change to US economic policy Pritchard Downturn, deficit could hinder Obama's economic plan LA Times Dollar weakness could undermine Obama's plans Warner Obama considers Geithner, Summers for Treasury Reuters A Random Walk Off a Cliff: ‘Beating’ the Market McTeer And Then There Were None Puplava Mogambo - Ash - Lee - Forbes Fed Experiment Continues BBH Discussing the future of the financial sector with Meredith Whitney CNBC Washington Power Diners Go for Burgers, Pizza as Budgets Shrink BL At the Supermarket Checkout, Frugality Trumps Brand Loyalty WSJ NYC mayor: Can't afford $400 property tax rebates Reuters A joint House-Senate panel studying ways to help towns raise, save money BG Increasing needs, falling gifts have food pantries worried Cincinnati Charles Cuts $4.3 Million From Schools Budget WP Kansas budget faces shortfall Kansas What Obama could do for states Stateline Pipes Are Being Unclogged but the All-Clear Is a Long Way Off PIMCO (El-Erian) Credit Card Bond Sales at Zero, First Time Since 1993 BL Fed lending program not yet taking hold CNN CDS update: Euphoria fades FT Alphaville Credit-Default Swap Disclosure Hides Truth on Risk Held by World's Banks BL Credit Crunch Refocuses Sovereign Wealth Fund Investments Global Insight Financial Crisis Threatens Real Economy Credit-suisse British banks face an abyss: Credit Suisse Reuters Analysts Think Worst Is Yet to Come WSJ The further decline in demand would come as some companies already are shedding space or considering doing so. Hovnanian and Toll Brothers CEOs share their outlooks on the housing industry CNBC Schwarzenegger proposes 90-day freeze on pending home foreclosures LA Times Credit crunch sinks oilsands supplier Calgary Herald S&P 500 Profit Estimates Slashed After Third-Quarter Misses BL “Estimates have been coming down with a vengeance. It's just plain ugly out there.'' Blackstone Reports $502.5 Million Loss as Crisis Reduces Fees, Investments BL MBIA, Ambac Losses Widen on Higher Claims Forecast BL Toyota slashes profit outlook by half AP Democrats Prepared to Act Fast on Car Aid, Regulation WSJ AutoNation Swings To 3Q Loss Amid $1.46 Billion Write-Down DJ Man Group shares plunge 30 pct after 1H profit plummets AP Many retailers report steep sales drop in October AP For Wal-Mart, a Christmas That’s Made to Order NYT The nation has two kinds of retailers these days: those bracing for a grim holiday season, and Wal-Mart. Wal-Mart will cut prices every week until Christmas Reuters U.S. Luxury Retailers Face the Grimmest Holiday Season as Economy Withers BL Slump in Advertising Sales Spreads to Magazine Publishers Time, Conde Nast BL Merger activity starts to reheat Fortune (Barr) Cisco slashes outlook, freezes hiring Fortune Citigroup, Goldman Said to Fire Staff as Part of Plans to Cut 12,000 Jobs BL The New Trough Rolling Stone The Wall Street bailout looks a lot like Iraq — a "free-fraud zone" where private contractors cash in on the mess they helped create Manic Depression To Normalization Sosnoff Gold Rises as Bank of England Says Financial System Disrupted BL Oil falls below $65 on demand concerns AP IEA Sees Oil Rebounding to Average $100 Through 2015; Cuts Demand Forecast BL Global shipping slump stokes fears G&M “What is happening now is that importers and exporters no longer trust each other, or their banks, and cargo is piling up at export ports waiting to be shipped...” Stainless prices falling on weak demand, lower nickel tags Purchasing Economy Shifts, and the Ethanol Industry Reels NYT Obama to Back Ailing Ethanol Makers, Follow Failed Bush Policy BL BOE Cuts Interest Rate by 1.5 Points to Lowest Level Since '55 BL Swiss National Bank cuts interest rate half point AP Indian banks trim rates, inflation rattles shares Reuters Nikkei, Hang Seng tumble MW Sensex closes below 10,000 Financial Express Iceland holds rates, IMF aid seen soon Reuters BOJ Helpless as Yen Rises on Carry, UBS, Barclays Say BL “Once the market realizes that we're now in a global recession, there's further deleveraging to come” UK house price fall at fastest rate in 25 years Telegraph Putting further pressure on the Bank of England to cut interest rates today Financial crisis tests the mettle of monetary union DB Research US and European banks –two sides of the same story? DBR PDF How severe a slump in China? Setser Agricultural Bank of China receives 19-billion-dollar bailout AFP Central Bank May Make Bolder Rate Cut Korea Times Banks' patience running out Australian The nation's banks are expected to sever the lifelines of more crippled companies. Corporate doctors under the microscope Brisbane Times Car sales tumble to worst decline since 1991 Times Online New vehicle sales hit 40-year low Asahi Indian Textiles: Weaker Rupee Is No Help Business Week Lipstick Sales Flourish When Times are Hard Chosun Wednesday November 5, 2008 U.S. Stocks Have Biggest Post-Election Slump as Concerns Persist BL AP U.S. stocks on the day after presidential elections Reuters Service sector shrinks as new orders drop AP ISM Forbes Likes Volcker as Next Treasury Secretary BL Video GMAC 3Q loss widens, blames economic woes AP Financial-Market Overhaul Plan From Obama May Lead to Clash With Industry BL U.S. Stock Futures Drop After Time Warner Says Profit Falls; AIG Retreats BL Opening View: Barack Obama Clenches Historical Presidential Victory Schaeffers ADP forecasts 157,000 job losses MW U.S. elects Obama as world gripped by economic crisis Reuters Obama urged to help build new economic order Reuters Oil falls 4 percent as Obama win boosts dollar Reuters Obama victory helps unions, auto companies AP Wall Street and Obama Hulbert New Prez to inherit economy from hell ABC What Obama stands for on economy CNN Job No. 1: A new Treasury chief CNN A successor to Henry Paulson is likely to be nominated soon. Here's who may be on the short list for Obama. U.S. fund managers not chasing Obama strategies Reuters Finishing Our Work NYT (Freidman) World leaders' quotes on Obama election win Reuters Two Little-Noted Features Of The Markets And The Economy Investors Insight (Bernstein) Transitions From Bear Markets To Bull Markets Ciovacco Keen - Setser NA Outlook: o Credit, No Growth BMO PDF Consumer spending hit by crisis: MasterCard Reuters Wall Street’s Extreme Sport NYT Today’s economic turmoil, it seems, is an implicit indictment of the arcane field of financial engineering — a blend of mathematics, statistics and computing. Bear market has ended, says Morgan Stanley Independent Why Draaisma is saying Buy, Buy, Buy, Buy FT Alphaville Noteworthy Market Developments since October 10, 2008 NT PDF Bloomberg shifts gears, plans 3,000 cuts to cope with budget tsunami NY Daily Voters From California to Alaska Embrace Debt, Approve 79% of Bond Plans BL A credit crater too big to fill? MSN (Markman) Das: “Governments are not really trying to save the system anymore. They now realize that's impossible. They are just trying to manage the decline." Libor's Steepest Drop Fails to Match Fed Rates, Loosen Chokehold on Bonds BL “The Fed is trying to give Novocain to the markets. It's all about buying time.'' Credit-Default Swaps on Italy, Spain Are Most Traded BL Up in the Air WP Economy's Downdraft Is Blowing Through Commercial Real Estate Office Tenants Flee Manhattan Rents for Brooklyn NYT 5 Reasons Why California Housing Still Has 3 Years Before Hitting a Bottom MyBudget360 Gamblers Unanimous CNBC EB World markets were brought to their knees by the collapse of US investment banks. Chris Owen looks at the casino culture that brought the house down. What's really burning down the financial house CS Monitor Derivatives are out of control. Time for adult supervision. America's companies reconquer the world Telegraph JPMorgan Said to Shut Proprietary Desk, Shed Traders BL GM's `Time Is Very Short' as U.S. Studies Aid Request, Adviser Altman Says BL Banks begin rush for US bailout funds CS Monitor Early reluctance is giving way as hundreds prepare to apply before the deadline. Hedge fund Autonomy Capital halts withdrawals Reuters Wall Street Banks Bracing For a Big Round of Layoffs CNBC Corporate Layoffs: The Worst is Yet to Come TIME Dell asks workers to take unpaid vacation Reuters Hartford Financial to slash 500 jobs BL Allegheny Technologies to lay off 700 workers COMTEXT Fannie Mae's $6,000 golf outing AP Ex-Bear Stearns exec now at Fed AP “That's incredible. This is not reassuring...What is there in this person's experience and skill package that qualifies him for the Fed position?” Insider-Trading Mastermind May Have Fled U.S. NYT Value, Deep Value First Eagle PDF We Need Sustainable Capitalism WSJ Commodities and the Great Conundrum Reuters (Kemp) S&P GSCI Commodity Perspective S&P PDF Asian Scrap-Steel Buyers Cancel Purchases as Prices Tumble 80% in 4 Months BL Texas Feels Economic Pinch As Oil-Price Drop Hits Home WSJ AP: Rates for the biggest drybulk ships on the seas have plunged to an average of just $5,611 per day, compared with $166,377 a year ago Will Gold survive market meltdown? Commodity Online UK services sector plummets to record low Times Online APEC finance ministers to discuss global crisis AFP China Should Buy More Global Stocks, Fewer Treasuries, Researcher Li Says BL “It doesn't make good business sense to buy rising U.S. Treasuries and a strong dollar when you can buy stocks cheaply” CBI: jobs in peril as banks cut lending Times ECB's Stark: see weak growth, possible negative inflation Reuters Research Euroland: Public finances shattered by crisis Danske PDF Lee reduces his China Life stake in portfolio rejig Standard What Happens when Countries Go Bankrupt? Spiegel Tuesday November 4, 2008 Stocks in U.S. Have Biggest Election Day Rally Since 1984; GE, CIT Advance BL Worst Stock, Bond Markets in 3-Decades Hang Over Elections B Research US: Presidential election 2008 Danske PDF Five Economic Challenges Facing the Next President CNBC Next president faces crucial choice at Treasury MSNBC Volcker, Bair mentioned for unenviable job of digging out economy Crisis Creates Opening for FDR-Like Economic Overhaul BL Slideshow: A Campaign for the Ages Vanity Fair Oil jumps 10 percent on Saudi supply cuts Reuters Welcome to Dystopia Kass “Never has a generation spent so much of our children's wealth in such a short period of time with so little to show for it.” Devastation Saut PDF Monetary Policy Transmission Lags Much Longer This Time NB Financial PDF Some Bear Market Perspective Ottawa BJ S&P: Global markets lose record $5.79T in Oct How Low Can It Go? Lamont Why it's (finally) time to buy stocks Fortune An Even Bigger and Broader Dollar Smile Morgan Stanley StrategEcon: Just How Big is Cleveland? CIBC PDF What's the Real Cause of the Global Recession? FX Strategy - IMM positioning: Minor reduction in net long USD positions Danske PDF Coming economic policy disasters Bear’s Lair The Moral Hazard of Regulation Paul Hook Jim Rogers: America is bankrupt (English version) RTL Lending rates fall to pre-Lehman levels CNN Financial Market EKG Update ING Concern over shipping derivatives losses FT Depository Trust to Publish Details of 1,000 Credit-Default Swap Contracts BL New York City Commercial Property Sales Fall 61% as Buyer Credit Dries Up BL “In all likelihood, you will see next to no transactions between now and the end of the year” Lenders create a bankruptcy monster MSN Credit crisis sends businesses into junk bond limbo USAT Not only are a rising number of companies facing the possibility of seeing their credit downgraded to junk, but they're falling from grace at a time when it's never been more expensive to have junk bonds. US junk bond defaults could top 16 percent Reuters US Foreclosures BBH The Stampede of White Elephants WSJ Slowing Sales of Luxury Properties Reveal 'Trophy Homes' Weighing Owners Down Great Wall Street Crashes Walking Tour AP Five Myths About the Great Depression WSJ Great Depression's long line of woes likely won't be duplicated USAT JPMorgan's Dimon Sees `Highly Challenging' 2009, Possible Rebound in 2010 BL 'In my 27 years, I never saw a month like this' G&M Senior auto executives uttered the words “horrific” and “survival” Monday as U.S. vehicle sales plunged to 1940s levels in October For GM, bad news may be good Fortune A President Obama and a Democratic Congress may be unable to resist bailing out the ailing automaker. BMW dumps 2008 outlook amid global autos slowdown Reuters UBS Says `Difficult' Market Conditions to Continue, Dragging on Fee Income BL Rein in Chief’s Pay? It’s Doable NYT Will Retail Investors Continue to Buy and Hold Stocks? Portfolio 'Private Equity in Deep,' Says Icahn CNBC Solar stocks for a rainy day Fortune The sky is falling, so why is gold? AP Despite economic crisis, safe-haven metal can't rally Cash or Gold? Sprott PDF Gasoline prices plunge below $2 a gallon in parts of U.S. LA Times Long-term Outlook for Commodities Saville Shanghai Copper Declines on Demand Outlook as Inventories Rise BL The Future Is a Silver Thread Credit Suisse Recession hits Europe as Club Med debt worries grow Ambrose Evans-Pritchard Staring into the abyss - Just how deep will the downturn be? DB Research Britain Can't Spend Its Way Out of This Recession BL Australia Central Bank Cuts Interest Rates Larger-Than-Expected 75 Points BL China's new house rules Finance Asia Assuming the average number of house sales in July and August is maintained, it will take two years to empty the current real estate inventories in the larger urban areas China stocks slip to 26-month closing low Reuters China Auto Market No Longer The Industry's Savior Dow Jones “We expect demand to be flat for the balance of 2008, but deteriorating conditions may prove this forecast too optimistic...” China Railway Construction Slumps as Nigeria Halts $8.3 Bln Track Project BL Factory Slump Puts China on Verge of Recession Business Week Exporters struggling amid global financial crisis China Daily Price falls bite for China's copper makers Reuters China's Worst Nightmare: Unemployment TIME Chinese police told to go easy on protesters Guardian The Rising Risk of a Hard Landing in China Roubini (R) Chinese IPOs sink without trace in 3Q China Daily Global economy depends on China Jubak Hong Kong, rudderless, braces for rollercoaster drop MW Japan's Wage Growth Remains at 0.1% as Profits Deteriorate BL “Wage growth is steadily heading toward negative territory” SKorean reserves fall at fastest pace since 1997 crisis AFP Economic Darkness Descends on Putin's Russia TIME Indian builders lure home buyers with free cars, gold AFP High flier charts crash landing Shanghai Daily Prosecutors said Zhu had confessed to the crime and asked for leniency. Ireland facing disciplinary deficit action RTE Zimbabwe: Stockpiled Ivory Sold NYT Monday November 3, 2008 The Best-Tasting Five-Point Loss Ever Smart Money Fed's latest survey finds tighter loan standards AP FED Gov't to borrow a record $550B in current quarter AP Treasury** Manufacturing in U.S. Contracts at Fastest Pace Since 1982 on Credit Woes BL ISM Auto sales 'unsustainably weak'; GM's fall 45 pct. AP Goldman Will Likely Post First Quarterly Loss, Merrill's Moszkowski Says BL Monday Morning Outlook: Examining the Risks Behind a Bear-Market Rally Schaeffers Worst job losses since March 2003 predicted MW “A 6.2% unemployment rate will merely be the next way station en route to 7% and beyond." Industry Survey: A Significant Downshift (October 2008) NABE Every time since 1982 that this indicator has turned negative, the economy has later proved to be in a recession... Lacker: Mixed U.S. Signals May Have Added to Market Woes WSJ “Shifts in expectations regarding official intervention may have added volatility to financial-asset markets...” Nobel Winner Aumann Says Bernanke, Paulson Steps `Not Smart' BL Paulson's Swindle Revealed The Nation Bernanke Push for Lower Bank Borrowing Costs Drives Treasury Yields Higher B “It's hard to see how demand for Treasuries is going to keep up with supply once the risk aversion trade subsides” Bernanke's Fed Chasing Down the Global Infection - The Fed as CB to the world Did Bernanke learn the lesson of the Great Depression? Shostak Monetary policy: Is the fed pushing on a piece of string? Jackson Value Dinosaurs Hussman A Sunnier Season Barron’s The latest Big Money poll reveals unrelenting bullishness among many money managers, despite their pronostications for a "contagious" recession and punk profits through 2009. A "Perma-Bear" Warms to Stocks Barron’s Bearish for most of this decade, Leuthold, 71, switched to the bull camp recently. Economy sinks as we save bankers MSN (Fleck) Dodging another Great Depression Reuters Stock Performance Following the Recognition of Recession Hussman (Hester) The period following the broad acceptance of a recession is usually far better for investors than the period that precedes it. Stocks: Rating the 2008 Meltdown Business Week Investors are now living at a turning point in history, and so it's not surprising that they're skittish about what might be around the corner. Macro Viewpoint: The end of the line Rosenberg PDF The 'greed is good' anthem needs amending MW Rebound Chapman Keen - Kaletsky - MyBudget More Utility Bills Go Unpaid WSJ ‘New faces’ struggle to pay utilities AJC Discord on Economies In a World Of Trouble WP Developing world demands a voice Conflicts Emerge as Nations Seek Solutions No More Economic False Choices NYT (Rubin & Bernstein) The Uses of Adversity New Yorker Can underprivileged outsiders have an advantage? Dollar Libor Falls to Lowest Since Lehman Bankruptcy on Interest-Rate Cuts bl Debt linked to huge buyouts is tightening the vise IHT “There's absolutely going to be a lot of pain to go around. The big question is how apocalyptic it will be." Private equity faces rough weather Calcutta Telegraph Emerging markets face financing crunch Globe & Mail KKR Delays Initial Public Offering Until 2009 Amid Credit Market Turmoil BL Loss in confidence in banks causes huge shifts in deposits USAT Citi say credit card losses may hit record levels in 2009 MW The Great American Housing Nightmare: Next Phase Weiss The Bank Bailouts Are Very Well Intended RGE But Where Is All The Money Going To Come From? Rescue cash could lure 1,800 institutions: report Reuters Possible economic stimulus bills in Congress Reuters Credit crisis is exposing free market hypocrisy The Age Morgan Stanley cancels Christmas parties: report Reuters Credit crunch forces the Queen to scale down Sandringham's Christmas festival Telegraph U.S. Rejects G.M.’s Call for Help in a Merger NYT Are automakers also too big to fail? CS Monitor Analysts: Big 3 woes imperil U.S. economy Detroit News Circuit City to shut 155 U.S. stores to preserve cash MW Did a computer flaw nearly wreck AIG? WSJ The Banks to Bank on Now Barron’s SocGen profits fall 84% on Lehman Brothers hit Times Lehman `Good for Retirement' Notes Prove Worthless for `Livid' UBS Clients BL Bonds Require Sleuthing WSJ Ben Graham Then and Now Forbes The Other Reason for Warren Buffett's Success WSJ Stocks Below Net Current Asset Value Briefing Dow Theorist Schannep stomped, but not stopped Brimelow Book Review: Sony vs Samsung Finance Asia Art sales face acid test in midst of credit crunch FT Christie's and Sotheby's, the two main auction houses, expect to sell up to $1.7bn in artworks in a two-week sale season, which begins today... Fiscal Implications of the Candidates' Plans Econbrowser Vote for ( ) NYT (Friedman) Commodities Show Worst Recession in 3 Decades, `Scared to Death' of Longer BL Gold Heads for Two-Year Low on Deflation Risk as Open Interest Drops 48% BL Measuring U.S. Dependence on Foreign Oil: The What, Where, and When Factors EIA Chinese Manufacturing Shrinks by Record, Survey Shows BL European banks suffer, stimulus measures planned Reuters Germans freeze £21bn property funds Independent Crisis foreshadows probable collapse of UK commercial real estate market in 2009 Homeowners face negative equity trap Times Online Three million homeowners could face mortgage debts larger than the value of their property as house prices continue to plunge Ukraine Faces Devaluation as Politicians Haggle Over `Lifeline' BL “The IMF threw them a lifeline. Instead of grabbing it, they're pushing each other away from it, so everyone sinks.'' Bank of England faces demands for 1 percentage point cut in interest rates Telegraph SKorea announces billions in extra stimulus spending AFP Japanese firms hit by global crisis, stronger yen: survey AFP Japan needs more than gestures FT Cheap Japanese Markets Forbes BRICs See No Relief Even as Rally Lures Stock Bulls BL Forget last week's record 20 percent gain in emerging-market stocks. Hard times are ahead for equities in Brazil, Russia, India and China, some of the world's biggest money managers say Crisis will affect Asian funds’ resources FT Chinese alarm bells Lex India, China Step Up Protection From Global Crisis BL Global crisis makes 2008 China's worst year in recent times: Wen AFP Fears grow over thaw at Icesave ThisisMoney The Street should do the right thing. Dig a grave for those wretched PPNs G&M Cash crisis sees professionals opt for suicide solace Standard Wary investors fuel forex jitters FT “It’s like every major currency crisis that’s happened in the last 30 years all happened at once” Pound May Drop 18% Versus Yen, U.K. Carry-Trade Economy Unwinds, Citi Says BL Templeton, Sydbank See Won, Rupiah, Rupee Bottoming BL Weekend Edition (November 1-2, 2008) Key U.S. Data Releases and Events GInsight Week Ahead Merk Florida's Freedom Bank Closed by Regulators; 17th U.S. Failure This Year BL FDIC From Midwest to M.T.A., Pain From Global Gamble NYT Was There a Loan It Didn’t Like? NYT (Morgenson) Hopes are 'worst October' signals worst is past MW Electing the Janitor-in-Chief Mauldin Challenging the Crowd in Whispers, Not Shouts NYT (Shiller) A Monthlong Walk on the Wildest Side of the Stock Market NYT (Norris) Stock-Fund Investors Pull Record $70.7 Billion BL Stocks have most erratic month in 24 years Reuters Dow on Pace for Worst Year to Date Record since 1931 MyBudget 360 Specter of Deflation Lurks as Global Demand Drops NYT Even as American authorities unleash credit, the threat has intensified What's scary about this recession MSN (Fleck) In the court of 'Dr Doom'- Nouriel Roubini Independent The economics professor who forecast the crisis that would engulf the US economy is now much in demand on Capitol Hill Q&A with Investing Legend Jim Rogers TIME 1873 and all that State Street PDF The Recession's Innocent Bystanders CIBC PDF Why Wall Street Can't Say Sell! Harding Trick or Treat or Just the Facts Noland The Bigger Picture? Contrary Investor Monetary Policy and Asset Prices FRBSF (Lansing) Changing With The Market Swenlin The Tales Get Taller Schiff Mogambo Is The Buck back? Hudson Pension Funds Weakened By Stock-Market Decline TIME S&P 500 companies' pension funds, which had been overfunded at the start of the year, fading so fast that they are now underfunded as a group California Cities Cut Police Budgets WSJ Once Upon A Time In Middle-Class America Forbes FSN Broadcast for Saturday, November 1 Financial Sense A Rescue Hindered by Politics NYT (Nocera) Bailout Fever Spreads To The Bond Market NBR Transcript Banks using government money for deals AP “The government really has to have two agendas with its bailout -- one is to get lending started again, but the other is keep banks from falling into the arms of the FDIC” Fear, blame surrounds credit default swaps Reuters JPMorgan Will Suspend U.S. Foreclosures, Modify $110 Billion of Mortgages BL A Plan From James Grosfeld NYT Once-hot homes are losers in Las Vegas WP What’s taking place here is something of a war of attrition, empty house by empty house. Citigroup loses $1.4 bln on securitizations Reuters October auto sales may have hit two-decade low Reuters The wheels come off FT Money-Laundering Risk Of Hedge Funds Delayed WP Goldman may be set to post first quarterly loss Reuters Carnival suspends dividend to preserve cash Telegraph Seamark suspends dividend G&M Lee Enterprises shares drop on dividend suspension AP Bank insurers cutting dividends Boston Globe Lehman is a gravy train for lawyers Independent Greed is no longer good on Wall Street CNN Schwarzman voices mea culpa for ‘07 birthday bash NYP Obama: “I Love Rich People” WSJ Rhetoric heats up Stocks Could Get a Short Post-Election Bounce CNBC Commodities Bull Market? ZEAL Miners getting crushed by commodity price crash GM Black treasure becomes fool’s gold FT Beat the Bear With Gold TheStreet Video (Schiff) Oil price up late as traders get caught in squeeze BL In Mexico, credit is available - at a 70% interest rate Arizona Republic India Unexpectedly Lowers Key Interest Rate to Protect Economy Amid Crisis BL Warnings ignored in US and Ireland; Vacant Irish housing units rise 150% FinFacts China to be hit hard by global recession-Bank of China exec Reuters Chinese Manufacturing Contracts as Financial Crisis Hits Export Demand BL Property market remains sluggish China Daily China braces for harder times Australian China's drive into U.S. car market stalls Fortune Shirakawa May Lead Bank of Japan's Return to a `Zero Interest-Rate World' BL The yen strikes back for now - The unwinding of JPY funded carry trades DB Research Korea Seeks Swap Fund With China, Japan Korea Times October ends after record falls in shares Times Online Financial records were smashed last month as the FTSE 100 recorded its worst October since 1987 Brown heads to Gulf for cash to aid Britain Times Online Downing Street says that Middle Eastern states are critical to refinancing and stabilising global markets Emerging markets most hurt in bear run Business Line Safe as houses? G&M Better to be on sidelines than lured in by bear market rallies G&M Canada to Avoid U.S.-Style Mortgage Mess BMO Focus PDF Great bear crushing will, logic of professionals Toronto Star Russia's Alfa Bank asks $400 million from state AP Weekly Review NTrust Weekly Trends Scotia Weekly Focus Danske PDFs The Economy in Numbers EPI