feedsept08






		Friday September 19, 2008 Stocks Extend Rally on Government Rescue Plan to End Historic Week AP Pimco's Gross Looks to Manage Government's Rescued Assets Reuters Comex Raises Margin Rates on Gold Contracts by 47%, Silver 20% BL Treasury, Fed Move to Bolster Money Market Funds AP FED - Treas SEC Halts Short Selling of Financial Stocks to Protect Investors and Markets SEC Bad Debt Plan May Cost Up to Half a Trillion Dollars CNBC Statement by Paulson on Comprehensive Approach to Market Developments Treas Paulson's Line in the Sand Washed Away by Tides Baum Paulson, Bernanke Push New Proposal to Cleanse Balance Sheets BL Congressional leaders who met with Paulson and Bernanke late yesterday in Washington said they aim to pass legislation soon. U.S., Congress leaders plan financial fix MW Next step in economic crisis: a giant resale agency? CS Monitor RTC Solution No Cure-All Kass House Republicans Criticize U.S. Action on Crisis BL Fed needs to rediscover power to shock and awe Ambrose Evans-Pritchard Echoes of the 1987 Crash Dorfman Wall Street's bad dream Economist We look at how the global financial system has fallen into the grip of panic Hedge funds may be next Financial Post 'We're going to see five fail for every bank' Papers turn on hedge fund managers BBC Ron Paul on the Financial Crisis YouTube Mogambo Wall Street sings bailout blues Fortune (Barr) The American government’s bail-outs are less arbitrary than they appear Economist What's Behind the Financial Market Crisis? Mises U.S. Financial Data, September 18 Issue FRBSL Buffett's "time bomb" goes off on Wall Street Reuters Systemic Risk Haunts Credit Swaps CFO Money market funds battered Boston Globe Pain Spreads as Credit Vise Grows Tighter NYT The pain on Main Street CNN Derivatives: A nuclear winter? Economist The fallout from the bankruptcy of Lehman Brothers Freddie Mac says Lehman owed it over $1.2 billion Reuters Old Mutual tumbles as it admits exposure to AIG Times Online Asian firms may shelve bonds on market turmoil Finance Asia HSBC walks away from $6.3 billion South Korea bank buy Reuters Credit crisis whips asset managers Reuters Will the Levee Break? Wharton An Ocean of Bad Debt Rises despite Fed Rescues Moody’s lifts projections for mortgage losses FT A move that could result in “multi-notch” credit rating downgrades for bond insurers such as Ambac and MBIA which have exposure to these securities. Carney calls banks to crisis talks FP Court to announce ABCP decision Friday G&M What's next: 4 prophets on the credit crunch Fortune California home sales surge as prices plummet AP 46.9 percent of all homes sold last month were foreclosed properties Is there a future? Economist The loneliness of the independent Wall Street bank Detroit wants its bailout too Fortune Buffett, Greenberg, Allianz's Diekmann May Find Deals at AIG Rummage Sale BL As panic spreads, Buffett strikes Fortune Washington Mutual didn't have to end like this Seattle Times Wall Street havoc deals a new blow to cellphone makers Reuters McCain says would fire SEC chairman Reuters McCain said the SEC had left in place trading rules that let speculators and hedge funds turn the markets into a casino. Obama mocks McCain's call to fire SEC chairman AP Pelosi, Kerry Share Investor Pain as Lawmakers' AIG, Lehman Stakes Vanish BL Wall Street crisis deals new blow to Bush legacy Reuters Gold eases on rescue hopes, but safe-haven demand stays Reuters Hitler gets a precious metals margin call YouTube Russian stocks resume trading AP Within an hour reopening prices were up so steeply that authorities stopped trading again Russian Stocks Cheapest in World as Market Opens BL The Russian Resurgence and the New-Old Front InvestorsInsight Behind the Russian Stock Market Meltdown Business Week Russia ratchets up US tensions with arms sales to Iran and Venezuela Times Shanghai, Hong Kong soar MW Stamp tax dropped to lift stock market China Daily And the State-owned Central Huijin announced it would buy shares of three major Chinese banks Downturn hits Shanghai realty China Daily Does financial bailout show US double standards? AFP India's inflation stubborn at over 12 pct AFP Flood of margin calls in credit panic Australian Easy money won't help economies weather this global banking crisis Independent Bear market enters last phase, says Anthony Bolton CityWire China to make foreign firms reveal secret info Yomiuri Thursday September 18, 2008 Stock Market Cheers Fiscal Insanity Mish Today we witnessed one of the biggest bear market rallies in history... Dow Surges 400 on Report of Entity for Bad Debt AP Gold tops $900 an ounce as anxiety persists MW Fed Lends Record to Wall Street, $28 Billion to AIG BL Morgan Stanley seeks deal with Wachovia AP NY starts probe of illegal short-selling AP Britain bans short-selling of financial stocks MW Morgan Stanley Shares Plunge 30 Percent as it Seeks Deal AP Putnam Investments Closes Institutional Money-Market Fund Amid Withdrawals BL BNY Mellon Cash Fund Declines Below $1 a Share, Hit by Lehman Debt Losses BL Bush Says He's Taking Action to Calm Markets, Restore Confidence in System BL Household Net Worth Fell For Third Consecutive Quarter Northern Trust Leading Economic Indicators in U.S. Dropped More Than Forecast in August BL CB Fed and other CBs announce massive fund injections R FED Crown slips from the colossus of the world economy Ambrose Evans-Pritchard The global credit system almost grinds to a halt as yields on US Treasury bills reach zero for the first time since the Great Depression Libor, TED spread jump MW Bush cancels trip to focus on financial crisis Reuters Worst Crisis Since '30s, With No End Yet in Sight WSJ The cost of protection on the Street FTA Panic grips credit markets FT Lending between banks, in effect, stopped. A New Role for the Fed: Investor of Last Resort NYT Instead of just setting monetary policy in its Ivory Tower-like setting, the Fed now must wear several hats — that of insurance conglomerate, investment banker and even hedge fund manager. Fed Prepared to Take Bigger Role in Combating Financial Crisis BL “In the absence of the $100 billion, people would have started asking if they are running out of resources” Bailing out the Fed FT Alphaville Comrade Bernanke Does it Again Schiff Déjà vu? LET'S HOPE NOT! Puplava Bright Side of a Total Financial Market Collapse Lewis One on One with Meredith Whitney NBR Transcript Worst is yet to come, investment strategist warns MW “If it's like the Depression experience -- and it sure is shaping up that way -- it could take several years. Maybe we won't see a bottom in home prices until 2014” Wall Street Is Nowhere Near Capitulation: Analyst CNBC Video Ianieri explains why he thinks we're only 40% through this crisis S&P 500 Plunge Erases 50% of Gains From Five-Year Bull Market BL A reckoning with Wall Street Baker Financial Crisis Exposes Flaws in U.S. Economy, Tarnishes Image BL In Asia, the Bloom Is Off the U.S. Rose NYT Wu: Meltdown Reflects Regulatory Failures; China Should Beware BL China's imploding US ally Asia Times Pressure building on U.S. debt rating: S&P Reuters “There's no God-given gift of a 'AAA' rating, and the U.S. has to earn it like everyone else” Buffett's Derivatives `Madmen' Poison Capitalism Gilbert Wall Street woes: why world's investors sit on sidelines CS Monitor FX Crossroads, To catch a falling BRIC Danske PDF Investment Outlook - Special Update Hahn Presentation Three Steps To Protect Your Funds Now Redux Lamont So what can we learn from the Crash of 1929? Daily Mail Municipal-Bond Issuers Delay $3+Billion of Sales as Interest Rates Jump BL Fear stalks banks amid financial meltdown Times Online Crisis envelops another Wall Street icon Globe & Mail Morgan Stanley fights for its life as U.S. rescue effort fails to calm jittery investors NYT: “We need a merger partner or we’re not going to make it,” Mr. Mack told Mr. Pandit Morgan Stanley Is in Talks with China for Fresh Funds CNBC Days of wine and Porsches over G&M The Street that's made millionaires, and billionaires, out of traders and deal makers is being torn up Should I close my bank account at Washington Mutual? Loenard Will AIG Plan Cost Taxpayers Money, or Just Sleep? AP Hundreds of AIG policyholders throng Asian offices AFP Some clients said they were unmoved by the US Federal Reserve's announcement of an unprecedented loan of up to 85 billion dollars to avert a collapse of AIG, which was expected to lead to a global financial calamity. Lehman failure rocks Japanese financiers Asahi Rivals circle Lehman in Asia Finance Asia Canadian banks face exposure FP Deutsche Bank Limits Credit-Default Swaps Exposing It to Bank-Failure Risk BL More banks will follow Lehmans and Merrill Lynch before we can pick up the pieces Tele Financial crisis likely to linger for car, home buyers LA Times Back to Bailouts WP Congratulations, taxpayers, you are now the proud owners of a debt-strapped insurance company. Ex-SEC Official Blames Agency for Blow-Up of Broker-Dealers NY Sun 'They constructed a mechanism that simply didn't work' SEC Seeks Power to Require Hedge Funds to Reveal Short Positions in Stocks BL It's Time for `We Hit an Iceberg' Credit Ratings Pesek Exclusive: It's Curtains For Linens NYP Tough economy hits rich as fortunes falter, a bit Reuters Pimco's Gross takes a hit Fortune Russell's bad year keeps getting worse Brimelow On Wall Street, employees brace for next disaster Reuters Where Will All the Bankers Go? CFO Hirst May Exit Corner Office as Lehman Mulls Collection's Fate BL Wall St jokers embrace biggest bear market Daly Telegraph 4:30 AM: Gold futures climb another $30 after Wednesday Spike MW AIG fears lead to commodities sell-off FT ....triggering a wave of selling and forcing two exchanges to make an extraordinary intervention in the markets. Analyst Says Oil Prices Inflated By 50 Percent HardAssetsInvestor Asia shares stage late recovery FT Asian stock markets regained much of their losses on Thursday as six central banks provided large amounts of liquidity to the world’s financial system. Russia's Reserves Fall on Ruble Support, Bonds Drop; Share Trading Resumes BL Russian exchanges remain closed amid share plummet AP Investors flee Russia FTSE 100 could 'plummet another 20%' ThisisMoney Aussie banks battle $40b bloodbath Daily Telegraph 'A Crisis, But not the End of the World' Spiegel There is no acute threat of collapse in Germany? Canadian Stocks Fall 20% From June Record, Becoming Last Major Bear Market BL Hedge Fund Customers on Verge of Bankruptcy Chosun Many companies who bought forex hedge funds are on the verge of going bankrupt as a result of the plunging won. Firms Face Hardship Attracting Funds Korea Times Surviving China's Stock Meltdown Business Week Indonesian business regulator arrested: corruption watchdog AFP The lavish party where the fate of HBOS was sealed Independent Gulf finance ministers back single currency plan Times Online Wednesday September 17, 2008 Dow down more than 7% on the week... AP Stocks in U.S. Tumble as Bank Lending Seizes Up Following Takeover of AIG BL "It seems pretty clear at this stage of financial malignancy that some sort of [Resolution Trust Corp.]-style umbrella is needed before the financial system is hollowed out entirely...” S&P Washington Mutual Begins Auction to Sell Itself NYT Gold Posts Biggest 1-day Gain Ever AP Stocks Tumble as Bailout Fails to Calm Nerves - Morgan, Goldman take a beating CNN SEC issues rules against abusive short sales AP Reid Says `No One Knows What to Do' to Solve Crisis BL U.S. Builders Began Work in August on Fewer Homes Than Economists Forecast BL PDF Three-Month Dollar Rate Climbs the Most in Nine Years as Banks Hoard Cash BL Fed Takes Control of AIG in $85 Billion Bailout ~ FED - AIG Fed's Rescue of AIG's Creditors Erases Part of the Line It Drew at Lehman BL Fed’s AIG Deal: Here There Be Dragons WSJ Blog After AIG rescue, Fed may find more at its door Reuters “They pretended they were drawing a line in the sand with Lehman Brothers but now two days later they're doing another bailout” It looks like the United States’ no bailout policy lasted all of two days Setser Shelby: "Where do you stop? Where do you draw the line?" Reuters Only the little people pay ~~taxes~~ losses Naked Shorts AIG woes could swat swap markets Fortune Regulators try to find WaMu buyer - MStanley weighing merger Reuters HBOS and Lloyds Comic Relief: "You've Got the Fed" Naked Capitalism ------------------------------------------------------------------------------------------------------------------------- GM, Domino's, Novell Say Wall Street Woes May Ripple Through U.S. Economy BL Ben, Hank and their magic piggy banks Farrell Let's Start by Finding Some People to Blame Lewis Goodbye Lehman, Hello deflation Reuters (Saft) Fed following path that didn't help Japan in crisis Reuters Distressed Investor Sees Possibility of Depression NYTD “If you don’t accept that there is at least a 20 to 25 percent chance of a financial markets-led depression you’re fooling yourself.” Fed Recreates the 1970s; Wait, It's the 1930s Baum Market Decline now on Par with 1974 Roseman Steve Keen Perhaps, Time for Someone to Play Offense NYT Keep It in Vegas NYT (Friedman) How the Masters of the Universe ran amok and cost us the earth Scotsman Black Swans Become Norm, Instead of Exception Pesek ’Significant risk' of global recession, Snow says Globe & Mail There’s no case for a new Keynesian era FP Capitalism's Genius Perverted by Subprime Madnes BL Say good-bye to the old America. Welcome to our new socialist paradise! Fabius Maximus Merrill should've listened to own advice Financial Post Saudi Billionaire to Wall Street: See You Later TIME Sidelined sovereign wealth… RGE Al-Waleed says he's not in the market for any more U.S. financial sector assets. Monetary Trends, October Issue FRBSL Brookings Papers on Economic Activity Brookings Can optimal policy projections in DSGE models be useful for policymakers? VOX Money market fund breaks the buck, freezes redemptions MW The size and speed of the withdrawals was stunning. At 3 p.m. on Tuesday, Primary Fund's assets stood at $23 billion, a $40 billion hit from the $62.6 billion in the fund on Friday Cloud over money-market funds MW Soros expects more bank woes BBC Video The Next Wave Of The Credit Crisis: Banks Stop Loans To One Another 24/7 Now fear stalks British banks Independent Speculators hunting for next victim target UK institutions Deutsche Delays Samurai Bonds as Lehman's Fall Threatens Market BL Investors cautious about samurais as markets turn volatile Finance Asia Lehman unloads it banking divisions to Barclays AP Lehman’s collapse triggers tougher times ahead for Asia Finance Asia Japan Banks, Insurers Have $2.4 Billion Lehman Risk BL As Lehman Teetered, Some Prepared CFO The Ultimate Wall Street Nightmare Weiss Federal bank insurance fund dwindling AP City to lose 110,000 jobs as credit crisis escalates Telegraph Woes Squeeze Canary Wharf WSJ Goldman and Morgan Stanley profits fall amid slump Reuters The deepening auto recession Fortune A variety of woes may delay any recovery until 2010 - or beyond. Hopes and fears mix at hedge fund conference Reuters Nortel cuts outlook, plans asset sales G&M Cooked: Pasta Co. Execs Plead Guilty CFO Wall Street Braces for Huge Job Losses ABC Ride out Wall Street's hurricane CS Monitor Wall Street’s Next Big Problem NYT Warren Buffett Told You So American Spectator The firm that saw it coming FP Big Bets Gone Bad Fool Don't read the table below if you have a weak stomach. Lehman Employees on EBay Offer Mugs, Parting Shots BL McCain Calls for Panel To Probe Wall Street Crisis NY Sun Pelosi: Dems bear no responsibility for economic crisis The Hill Gold up on commods rally, AIG rescue, platinum jumps Reuters Butler Goldman Cuts Oil Target, but Says Buy Now CNBC House passes drilling bill CNN Oil sands economics under pressure G&M Deleveraging Dogs Ags UBS Asian Central Banks Inject Cash Despite AIG Rescue Reuters HBOS shares tumble for third day Telegraph FSA says crunch may hit consumers severely Reuters Macquarie shares hit four-year low Herald Sun RTS and Micex halt trade for second day as initial recovery turns sour RToday Markets Post Record Single-Day Losses Moscow Times Trade on both exchanges had to be temporarily suspended late Tuesday afternoon as shares appeared to be going into free fall. Russia Will Lend Three Biggest Banks $44B, Pledges Further Measures B Big bad bear market threatens to scare Canadians out of spending CP ‘Painful’ days ahead Money Management Indonesia Starts to Strangle on Success Asia Sentinel Asia: When the US Sneezes, Who Will Catch A Cold? NTrust PDF U.S. Crisis Hits Korean Banks, Pension Service Hard Chosun Lehman Collapse Sends KOSPI Into Tailspin Chosun Consumer Spending Likely to Contract Korea Times South Africa Not Immune to Global Financial Crisis BL Zimbabwe issues new banknote AFP Tuesday September 16, 2008 Stocks Move Higher after Fed Decision S&P Fed ignores calls for rate cut FED AIG reportedly may get loans from Fed MW US Considers Aiding AIG CNBC Sources close to the situation said a private sector solution to AIG's situation is definitively dead. Video: AIG's Former CEO Greenberg: "It is in our national interest that AIG survive" CNBC NY Fed pumps $50B into Wall Street AP Dell shares fall 10% as company sees IT spending weakening MW Yale's Shiller Sees `Turning Point' as Lehman, Merrill Go Down BL Russia halts trading after 17% drop FT The power of Paulson Fortune Paulson's Moment Of Truth WP Consumer prices ease on cheaper energy Reuters TIC Goldman Net Drops 70% as Merger Advice, Trading Slow BL Fed Funds spread signals crash iTulip Market looks for Fed rate cut MW BoNY: “...this certainly suggests to us that we should look for at least a 25 bp move from today’s meeting. Mark This as the Day Asian Capital Finally Woke Up Lewis Who's next after Lehman Brothers is fed to the wolves? Ambrose Evans-Pritchard Macabre game of prediction begins again FT Was Dow's plunge capitulation? Hulbert Monday's market massacre was nowhere near like October 1987, nor does it indicate the worst is over. Lehman Collapse Spurs Call for Credit Derivatives Clearinghouse Amid Chaos BL The fact that I can't tell you the notional value of derivatives contracts Lehman has written the day after a bankruptcy is a scary thing The Government Is Willing to Let Wall Street Firms Fail. That's Good Rogoff An epic turning point for Wall Street Financial Post Some analysts believe a full-scale government bailout is inevitable as Lehman's demise and the possible meltdown of insurer American International Group touch off more failures and bankruptcies across Wall Street. Goldman, Morgan Stanley face biggest market test Reuters The end of Wall Street Fortune As Lehman's demise and Merrill's acquisition make clear, a business model built on ramping up risk and leverage simply doesn't work A Decade of Moral Hazard FT Video Rogoff: Banks Won't Be as Profitable in Future Speigel The Perils of Leverage Bear’s Lair The Crack Up Boom, Part VIII Andros Mish - Fekete - Swanson - Spengler - Kass - Hubbard - Krugman - Norris - Paul - Spiegel Running to stand still State Street PDF An AIG Accident Could Dwarf Lehman's Barron’s AIG in focus as financial meltdown spreads Reuters “If AIG tanks, that will be the big one.” The Unraveling of AIG BusinessW Gross's Bond Fund Guaranteed $760 Million of AIG Debt BL Sept. 14: “I wouldn't put them in the failing category at the moment.'' Ultimatum by Paulson Sparked Frantic End WSJ Lehman throws in the towel, leaving peers to weather storm Finance Asia Lehman CDS counterparties begin resetting trades Reuters Lehman Auctions $852 Million of LBO Loans as Prices Plummet BL Barclays Discussing Purchase of Lehman Assets Following Filing BL The Fall of Lehman and The Terrible Lessons of Bear Stearns InvestorsInsight Whitney: Lehman Failure Will Worsen Credit Crunch CNBC The Lehman Blame Game Gets Rolling NY Sun Pimco, Vanguard Are Biggest Lehman Bond Fund Losers BL A top Lehman exec’s lament Fortune Lehman: stress test for bankruptcy laws Creditors Could Go After Lehman Bonuses CFO BOJ injects Y2.5T into markets as Lehman Japan also files JTimes As Europe Watches Wall Street Fall, Schadenfreude Gives Way to Worry NYT Korean Gov't in Emergency Meeting Over Lehman Chosun London staff told to leave Telegraph CLSA's Wood Sees Further $1 Trillion in Credit-Related Losses After Lehman BL Wall Street Convulsions May Further Erode U.S. Growth, Put Pressure on Fed BL Expect consumers to hunker down, jobs to disappear, credit to get tighter G&M Crisis far from over, but is entering a new phase G&M Fannie, Freddie, Ben, and Alan Fortune How keeping short rates low created the biggest taxpayer bailout in history. Wall Street in crisis: 'This rivals 1929' Financial Post ‘In 1932 these big banks didn't go bankrupt' G&M Credit crunch hits small businesses CNN Mortgages Are Harder to Obtain in U.S. Even as Home-Loan Rates Get Cheaper BL Government should help stabilize housing market Kellner Hewlett-Packard Cuts 24,600 Jobs to Wring Profit From Services BL Feds Snip Fannie, Freddie Parachutes CFO Hank Paulson - The man trying to save the financial world Telegraph Oil Falls Below $92 to Seven-Month Low as Market Turmoil Threatens Growth BL Global market turmoil continues BBC ECB injects $99 billion into money markets MW Korea Turns Tables on `Desperate' Wall Street a Decade After IMF Bailout BL “The tables have turned, and U.S. banks have to realize that” ADB cuts Asia growth forecast, warns on inflation AFP Melting Arctic shows 'catastrophic' trend AP Monday September 15, 2008 U.S. Stocks Fall Most Since 9/11 as Lehman, AIG Stoke Global Credit Crisis BL Paulson says Lehman bailout was never an option AP Rate cut tomorrow not fantasy, some economists say MW Fate of remaining big independent brokers in focus MW NY allows AIG to borrow $20 Billion from subsidiaries, shares plunge 50% AP Also, the insurer was said to be in "rescue" talks with Buffett. Pimco's Gross: Global Credit Crunch Is Worsening CNBC Faber Says AIG May Be `Much Bigger Problem' Than Lehman BL Audio China cuts lending rates in surprise move MW Banks Hoarding Cash Send Fed Funds to Decade High Over Fed's Target Rate BL Biggest Bankruptcy In U.S. History ~ PDF - Filing Global banks pledge 70 billion dollars to ease credit crunch Business Wire Fed announces initiatives to provide additional support to markets FED Statement Regarding Recent Market Events and Lehman Brothers SEC Bank of America Agrees to Buy Merrill for $50 Billion After Shares Plunge BL Press Release: “Bank of America expects to achieve $7 billion in pre-tax expense savings, fully realized by 2012. The acquisition is expected to be accretive to earnings by 2010. Loss of Merrill, Lehman Signals `Tectonic' Shift in Wall Street Landscape BL AIG seeks $40 billion loan from Fed MW Lehman crumbles and Wall Street turns its backTITLE="The bombshell of Lehman?s faltering rescue bid ripped across Asian markets Monday, pounding financial shares in Sydney, sending the U.S. dollar sharply lower against the yen, propelling gold bullion up more than $20 an ounce and pointing to a more than 300-point plunge for the Dow Jones Industrial Average at the start of U.S. trading later in the day." MW Lehman demise could end speculative raid on taxpayers Reuters Lehman CEO Fuld's hubris contributed to meltdown Reuters Asian banking shares tumble after Lehman bust MW ------------------------------------------------------------------------------------------------------------ The Mother of All MondaysCLASS="cstrong cf12" WSJ Blog Investors world-wide have rarely rolled out of bed to face a Monday morning quite like the one they’ll contend with this Monday. Stocks Plunge in Europe, Asia, Dollar Drops on Lehman; U.S. Futures Slide BL Jittery Road AheadTITLE="Permanent link to Lehman Brothers: The Rise and Fall of Lehman Brothers. A History that Goes Beyond the Great Depression." REL="bookmark" NYT Wilbur Ross: Possibly a Thousand Banks Will Close CNBC Lehman - Only the Stock and Bondholders Should Expect Losses (Not Customers) Hussman The Rise and Fall of Lehman - A History that Goes Beyond the Great Depression Dr. HB Frantic day on Wall Street as banks teeter IHT (NYT) Banks Fear Next Move by ShortsCLASS="section_link" NYT Wall Street's troubles are yours, too Fortune (Barr) Financial chaos does not rule out economic recovery Anatole Kaletsk Will Crisis Spread to Other Sectors? Dorfman As Madonna and the banks know, when trust is lost it's time to say your prayers King 'Franron' bailout: Good plan, bad news MSN (Fleck) Washington Mutual Mortgage Holdings Dragged Down by Embrace of Option ARMs BL Wall Street model broken by credit crisis Reuters The Japan Lesson: U.S. Must Own Up To Its Bank Crisis WSJ Greenspan: Economy in 'once-in-a-century' crisis CNN ABC Interview “There's no question that this is in the process of outstripping anything I've seen, and it is still not resolved” SEC to act on abusive short selling: sourceCLASS="link-06c" Reuters Art world looks to China to sustain sales boom AFP Europe Shuns U.S.-Style `Active Role' in Boosting Economy, Bank Bailouts BL CBI: '2 million unemployed by 2009' Times “We are now almost certainly in a mild recessionary phase.” World Economy May Face `Japan-Like' Stagnation, Singapore Wealth Fund Says BL Swinging Real, Won Point to More Pain as Economies Recouple BL Weekend Edition (September 13-14, 2008) Fed's options limited if Lehman talks fail Reuters “It's been six months since Bear Stearns. Everybody knew that Lehman was shaky. They've had six months to think about this and if their best answer is to throw more taxpayer money at them, there is going to be a lot of criticism." Leading Plan for Rescue Would Split Up Lehman NYT The leading proposal would divide Lehman into two entities, a “good bank” and a “bad bank.” Lehman Gets Bids From Bain, Clayton Dubilier for Asset Management Division BL Emergency meeting on Lehman rescue resumes AP Germany sees Lehman solution by Monday, Europe frets Reuters U.S. Gives Banks Urgent Warning to Solve Crisis NYT One observer briefed on the situation described the session as a “game of chicken” between the government and the heads of the major banks. Paulson, Bernanke Brave `Raptors' in Resisting Aid for Lehman BL Lehman may need a miracle to surviveCLASS="link-06c" NBR Trasncript "It is highly unlikely Lehman will be in existence on Monday morning." Lehman Deal Might Not Be Resolved This Weekend CNBC NY Fed holds emergency meeting on Lehman's future CNN Barclays Bank in Lehman rescue talks Times Online Lehman Brothers gets the Bear Stearns treatment. Now who's next? Warner The Lehman LessonCLASS="link" ONMOUSEOUT="hlO(this);" ONMOUSEOVER="hlE(this, 'From Florida to Tennessee, and all the way up to Connecticut, people far from Hurricane Ike\'s destruction nonetheless felt one of its tell-tale aftershocks: gasoline prices that surged...','');" Fortune Lehman workers sit tight-and drink up Fortune -------------------------------------------------------------------------------------------------------------------- Economic damage from Ike may be less than feared AP Far from Ike's path, an aftershock is felt: $5 gas AP Key U.S. Data Releases and Events GInsight Week Ahead Merk Housing: Are We at the Bottom? Mauldin PDF Last Gasp of a Doomed Currency Schiff The Return of the Misery Index NYT (Norris) When Will It End? Harding The Desperate Dash for Cash Barron’s Pimco: U.S. bank system capital insufficient Reuters Merrill now in shorts' sights as Lehman crumbles Reuters People are saying, 'Who's next on the list?’ AIG Shares Tumble On Capital Concerns WP U.S. requests help on mortgage bonds Asahi U.S. Treasury officials urged Japanese financial institutions not to dump bonds issued by ailing mortgage giants Fannie Mae and Freddie Mac to prevent a tailspin in financial markets... How Paulson Would Save Fannie Mae WSJ Putting lipstick on a pig Fortune Wall Street suffered from the illusion that it could make beautiful bonds out of piles of dubious mortgages. Bailout shows waning of U.S. financial power Reuters (Saft) America's banking blues Toronto Star The Goldman touch Globe & Mail While the Treasury Secretary is leading the charge, there are at least a dozen other former Goldman executives who are doing mop-up jobs around the world in government and the financial sector Real Homes of Genius: Today we Salute you Santa Monica Dr. HB Housing bubble, toil and trouble AP Commodities and Oil ZEAL Gold Will Recover Chapman Gasoline Prices Spike on Ike Business Week The Joys of Ownership NYT (Morgenson) Chrysler to offer more workers buyouts, retirement AP More layoffs seen on Wall Street CNN Where to Direct All That Rage NYT (Stein) China May Ease Lending Restrictions After Export Growth, Production Cooled BL US - Euro area interdependence in monetary policy DB Research PDF Does the ECB follow the Fed? Canadian House Prices - Join the (Discount) Club BMO PDF Pakistan inflation hits 30-year high: government AFP World Ocean Container Trade Outlook Deteriorating Global Insight U.S. and Venezuela escalate crisis Reuters Week in Review NTrust Weekly Focus Danske Weekly Trends PDF Friday September 12, 2008 Gold rises first day in 10 as dollar weakens MW Bank of America Leads Talks for Lehman as Paulson Opposes Providing Funds BL Lehman Investment Unit Gets Bids From Bain, Clayton BL Lehman Still Looking for Suitor, Possible 3-Way Deal CNBC Near-term U.S. economy recovery is wishful thinking: ECRI Reuters Foreclosures in U.S. Reach Record in August as Housing Crisis Cuts Prices BL Alt-A Mortgages Next Risk for Housing Market as Defaults Surge BL U.S. retail sales unexpected fell in August MW Census U.S. Producer Prices Fall 0.9%, More Than Forecast, as Energy Costs Drop BL PPI Debate shifts to systemic solution FT When hawks cry Economist How America’s central bank copes with an unusual level of dissent Recovery Still a Year Away BMO PDF US Budget and Treasury Financing Outlook: Not a Pretty Picture, but Manageable MStanley China may cut its dollar holdings - CICC China Daily Central Bank Treasury Holdings Rise to Record, Agencies Fall BL Financial Rescues Show That Faith in Free Market Is Shaken Pearlstein We're all capitalists now? Not any longer Kaletsky Henry Paulson, Why Scare My Mother? Gilbert Paulson: Congress Has No Authority Here BIG Picture Six of the best – questions for challenging markets Price Blog Robbing the poor of Jeffersonian wisdom Mogambo Financial “Whac-a-Mole”: Bubbles, Commodity Prices and Global Imbalances Brookings P Paulson’s Team Wants Sinking Lehman Sold By Weekend NYP What has prompted the Treasury to step in is a fear that Lehman cannot withstand any more beatings... U.S. may broker rescue of Lehman Bros. LA Times Rumours of Lehman rescue hit “safer” currencies ft City Bracing for Lehman's Demise NY Sun Commercial Real Estate May Take a Hit Lehman’s Assurances Ring Hollow NYT (Norris) Lehman: The next bailout? CS Monitor Economist: “That grim prognosis does not apply to Lehman alone....” 99% of Lehman's (LEH) Employees About To Get Royally ScrewedTITLE="Permanent Link: Is this the end of ZimbabweÃ¢Â?â„¢s $1000 loaf of bread?" REL="bookmark" Blodget Bailouts Will Push US into Depression: Manager CNBC Video Washington Mutual tries to soothe anxiety CNN Press Release - Cut To Junk Washington Mutual May Be Forced to Sell Deposits, Branches to Stay Afloat BL Testing times for the swaps market Economist American corporate profits -- A turn for the worse Economist The outlook is deteriorating even for the best-performing firms, let alone the troubled ones Fannie-Freddie deal helps China more than US Jubak Fannie Mae, Freddie Mac wielded big clout in Washington CS Monitor All Recipients of Fannie and Freddie Campaign Contributions, 1989-2008 Open Secrets Democrats call for foreclosure freeze AP Hedge Fund Glory Days Fading Fast NYT JPMorgan Muni-Swap Exit Will Cause Others to Follow Mysak Bogus United story not only case of false rumors affecting stocks Hulbert Where to Keep Cash When No Investment Seems Safe NYT US fund Steel Partners fixes on new target in Japan AFP Thin Film Solar Companies Raise Hundreds of Millions in FundingTITLE="Permanent Link: What goes in also can go out Ã¢Â?Â¦" REL="bookmark" NYT FASB, IASB Eye 2011 as Wrap-up Date CFO Equity Longs, Gold Shorts UBS Gold falls below US$750 FP Nadler “This is indiscriminate slaughter across all commodities” Oil rises as Ike approaches CNN The world economy pays the price of expensive oil Economist China's Industrial Output Expands at Slowest Pace in Six Years on Exports BL Property prices to drop on stock volatility, says Henderson Standard Japan's Economy Contracts 3%, Most Since 2001, as Spending, Exports Fall BL Swedish Banks at Risk from Baltic IllsTITLE="Posted: Wednesday, Sep 10 2008 at 9:34 PM EST - With investors hammering at the firm's stock, boss Richard Fuld has unveiled yet another attempt at saving the company" Business Week NAB woes aren't over, ABN warns Australian No mortgage intervention Telegraph Mervyn King warns lenders that the BoE is powerless. House prices show sharpest monthly fall since 1992 FT Seoul Warns of Speculative Forces in Market Korea Times Forex Stabilization Bond Issue Backfires Chosun Central bank saw disaster coming G&M Dodge says many central bankers recognized that trouble was afoot as early as 2003, but Wall Street and other regulators didn't listen "Economy & Markets" September 2008 Allianz Global equity trading suffers 37% decline FT Is this the end of Zimbabwe’s $1000 loaf of bread? FTA Beijing uses forex reserves to target Taiwan FT "Commentary"-The New Age of Authoritarianism NBR Transcript Thursday September 12, 2008 Lehman Pushed Toward Fire Sale After Moody's Rating Warning BL WAMU Rallies 30-year Mortgages Dip to Lowest Level Since April AP Jobless Benefit Rolls Reach 3.52 Million, Highest Level Since 2003 B Weekly Claims Drop Oil imports boost July trade gap MW PDF File - Import Prices Down Fed May Increase Lending to Banks, Brokers as `Mother of Year-Ends' Nears BL Expectations are growing for a rate cut before year's end CNN North American Outlook: Not Out of the Recession Woods BMO PDF When the Transmission is Broken, Call a Tow Truck Puplava "Maverick McCain" and the Resurrection of the US$ Dorsch Reasons to be cautious on wave of dollar optimism Reuters What goes in also can go out... Setser US dollar index climbs to 12 month high Reuters Next president faces swelling U.S. debt CS Monitor The Silence of Lambs The Nation More Honey for the Bears Barron’s Another bull goes over to the bears Brimelow Peter Eliades now says Dow could drop below 9,000 How to Avoid Another Depression Mises Lehman drops more than 20 percent before bell Reuters Joyous Loathing at Lehman Brothers' Collapse Lewis Lehman Plan Met With Skepticism By Credit Investors Dow Jones Lehman's survived crises before. This may be its toughest yet G&M Gross: Pimco still doing business with Lehman Reuters Soros Fund Loss On Lehman May Be $120M BL Japan, Australia Bond Risk Rises for Third Day on Lehman Loss BL Asia Banks Sell Off After Lehman Losses Forbes Richard S. Fuld, Lehman (LEH) CEO, 1994- Blodget WaMu and the $239 Billion in Outstanding Loans MyBudget360 Jim Rogers: financial carnage far from over YouTube Videos (BL) Bailout for Billionaires WSJ Ackman on the GSE Bailout CNBC Video Treasury's explanation is that it had to do this to reassure the world's holders of Fan and Fred senior debt. Who Holds Securities of Government Sponsored Enterprises? NTrust PDF Fan-Fred Turmoil Made Chinese Bankers Nervous WSJ Welcome to the U.S.S.R. (United States Socialist Republic) CITI PDF Paulson's plan: So far, so good Fortune (Barr) Foreign Buyers Flee Fannie Bill Sale Housing Doom Bond Traders Lose `One-Night Stands' in Credit Crunch BL Big Short-Seller Says Financials Have Bottomed CNBC Total California Housing Inventory 159,898: Or is it Higher? MyBudget360 Warren Buffett's happy housing story Fortune Clayton makes loans to low-income households - and foreclosures have actually dropped. Big fund firms among top holders in sinking stocksCLASS="g20" Reuters Icahn says he has $70-per-share offer for Imclone AP Clueless investors try their luck on volatility India Times U.S. subprime lawsuits outpace S&L cases Reuters Report slams stock-swap 'gimmicks' at financial firms USAT Levin: "These are gimmicks which are peddled by American financial institutions — designed, concocted and peddled — to deny Uncle Sam the taxes which are owed under our law” Slim Becomes Third-Biggest Outside Investor in New York Times BL Recent Events ‘extremely favorable’ for gold Embry PDF Crude Oil Falls as Stronger Dollar Dims Commodities' Appeal BL Reining In the Oil Speculators Business Week CIBC’s Rubin cuts outlook for TSX, oil pricesCLASS="cstrong cf12" FP PDF File A long wait for China to repeat fuel buying binge Reuters Old Farmers Almanac: Global cooling may be underway AP Another oil discovery for PetrobrasSTYLE="font-size: 24px; color: rgb(0, 0, 51);" MW Hong Kong, Shanghai indexes at more than one-year lows MW Brussels warns of UK recession this year Times Junk Bond Distress Levels Surge to 5-Year High, Signaling Europe Defaults BL Bank warns government to control fiscal policy Reuters Cash-strapped consumers seek value Reuters New Zealand rates cut deeper than expected AFP Medvedev Says State Can Lift Markets Moscow Times “We cannot change the situation...Let the Americans sort out their mortgage system themselves. But of course … they have pretty much set everyone up for this." Even Dimitri Medvedev cannot stop slide in Moscow's stock market Times Taiwan to Spend $5.6 Billion to Revive Economy, Arrest Stock Market PlungeMODID="newsOne\|Text\|3098102_Most Popular Articles" BL Real Estate Woes Spread to China NYT Is Mexico the new China? CS Monitor Emerging Markets’ Long Term Charts Battered & Broken Trader’s Narrative Doomsday fears come with territory Reuters Wednesday September 10, 2008 Washington Mutual tumbles 30 percent to 17-year low Reuters Gold ends at 11-month low as dollar strengthens MW Paulson Makes Pitch to Freddie Mac, Fannie Mae Employees: Please Don't Go BL Lehman to cloud stocks again CNN Credit Suisse Says Stock-Market Advance Won't Last BL Lehman posts $3.9 billion loss, selling assetsCLASS="cstrong DLMC_HCF txttrans_none" MW Lehman Lehman stock tumble raises government rescue specterCLASS="RRHeadline" ONCLICK="s_objectID = 'Story_right_tab_popular_B';" Reuters Paulson was likely calling friends on Wall St. asking what people know, who is exposed and how much loss they are willing to take. Fed-Loan Access Gives Lehman Breathing Room Bear Stearns Lacked BL Private Equity Firms Are Interested in Lehman Buy CNBC Lehman's Fuld Faces Pressure to Deliver Deal; KDB Says It Ended Talks BL Korea blames 'differences' for ending Lehman talks Times Online The Man Who Bet Lehman Brothers Blodget US housing solution is not a good one to follow FT (Wolf) Sovereign Wealth and Sovereign Power CFR PDF The Strategic Consequences of American Indebtedness China may back away from US Treasuries Finance Asia Washington may have plugged Asia's equity outflow Reuters Paulson placates China, Russia - for now Asia Times Dr. Doom, Seer, RealistONCLICK="s_id='newswell Default-Money 2 lede 1';" KCI Investing Resurrection of the charlatan Bear’s Lair Charlie Rose wi/ Nouriel Roubini on Freddie/Fannie Video via Infectious Greed U.S. Treasury Credit-Default Swaps Increase to Record BL “The bailout is weakening the balance sheet of the U.S. and that is causing a deterioration of creditworthiness. The market is anticipating there might be more bailouts.” U.S. Default? Fannie, Freddie Takeover Jolts Preferred Market as Prices PlungeCLASS="HotspotInternal" ONCLICK="javascript:clicks(this.href)" ONFOCUS="this.blur()" Bail-out hands Pimco $1.7bn payday FT Gross: “Our mortgage overweight and the performance of mortgages on Monday gave the Total Return fund its greatest one day relative performance (compared to our index) in its history” Greenspan: Fannie, Freddie Takeover Was NeededCLASS="cstrong cf12" CNBC Freddie, Fannie Scam Hidden in Broad Daylight BL Fannie Mae's Demise Rooted in the Swinging '60sID="ctl00_CenterBodyPanel_ctl01_gvArticles_ctl02_newsletterEntryHyperLink" BL Fannie And Freddie: What Next? Forbes BCARCLASS="link-text" Mortgages should get cheaper, but who is buying a house? G&M Germany's WestLB under Attack from Brussels Spiegel Auction-Rate Cleanup Bill for New York Exceeds $340 Million, and Counting BL Expect three years of pain, says GE Australian Condo Buyers in Florida Seek to Exit Deals WSJ The bubble has burst Financial Post Investors savaged as commodities take plunge Commodity Investors Pulled $39 Billion in Futures, Triggering Oil Decline BL OPEC decides to curb overall output; prices rise AP IEA Lowers 2009 Oil Demand Forecast as U.S. Curbs Spending BL Highlights Gold bugs' arguments sometimes involve a disingenuous logic Hulbert Berkshire tightens insurance for bank deposits: report Reuters Washington Mutual, National City Lose Suitors as New Accounting Rule Looms BL House Discussing $25 Billion in Loans for Big Three CNBC CFOs more optimistic about U.S. economy: surveyCLASS="link-06c" Reuters Lawyers for Enron investors to get $688 million in fees Reuters China Inflation Cools to 4.9% as Export Growth Slows BL Inflation retreats, slowdown worry grows China Daily China August trade surplus a record high of 28.7 bln dlrs: govtCLASS="link-06c" AFP Funds flee volatility to safe-haven bonds, cash Standard EU Cuts Economic Growth Forecast for 2008, Forecasts Recession for Germany bl UK property auction prices slump 23%, while loans to first-time buyers hit record low Guar Hey Scorsese, Japan's Yakuza Has a Story for You Pesek Rout sends TSX near bear territoryTITLE="Financial and housing stocks in focus following government decision on Fannie Mae and Freddie Mac -- By: Todd Salamone - Posted: 09/08/08 7:00 AM" G&M Crunch fear puts Aussie dollar in freefall Australian Former Bank chief Eddie George steps forward in defence of financial markets Independent Scientists send first beam round atom-smasher Reuters As a massive atom smasher powers up, ‘Big Science' moves away from the US CSM Tuesday September 9, 2008 U.S. Stocks Slide, Led by Financials; S&P Drop Steepest Since February '07 BL Stocks Plunge as Lehman Shares Drop Over 40 Percent AP Gold futures fall to lowest level of 2008 as crude slidesCLASS="cstrong cf12" MW Uncle Sam: $407 billion in the hole CNN CBO Upside volume in Monday's rally was disappointing Hulbert Hiring Plans at U.S. Employers Fall to Five-Year Low as Retailers Retrench BL The reading for stores and wholesalers was the weakest for any fourth quarter since Manpower began keeping track in 1972. States' jobless funds shrink USAT California, New York, Ohio and Michigan are among populous states projected to deplete their unemployment insurance funds this year or in 2009 to cover the cost of benefits. US May Be Running Out Of Options To Stop Recession CNBC Foreign Holdings of US Agencies and the Dollar Morgan Stanley (Jen) A $75 trillion fright fest: 8 megahorror debts chilling the U.S. Farrell Every year we pile trillions more on future generations. In Government We Trust? Part 2TITLE="Pimco's Bill Gross on the Fan/Fred rescue: " REL="bookmark" LIKE="" IT""="" WE="" Paul Is there an exit strategy? Rogoff The idea that the world's largest economies are merely facing a short-term panic looks increasingly strained Bernanke Has Kept His Helicopters Grounded...So Far Saville Fears over S Korean lifeline for Lehman Brothers Telegraph Could 100-dollar oil become a new OPEC price floor? AFP Mitsui O.S.K., Shipping Lines Fall on Drop in Rates BL The Baltic Dry Index tumbled for a 14th day and has more halved from a record in May... Brains vs. Brawn Fortune Commoditized products have been rising in value faster than products made from intellectual capital. That will change. UAL shares walloped by new posting of old news Reuters NYSE Will Introduce Pan-European System in November BL 99 Cents Only Stores raise prices for the first time USAT Whistleblower Offers Tips on Bond-Premium Laundering Mysak Buyer calls Plaza Hotel suite "attic-like" and sues Reuters ------------------------------------------------------------------------------------------------------------------------------- Paulson changes the rules of the capital game Fortune (Barr) By taking control of Fannie and Freddie, the Treasury Secretary risks making it harder for other troubled financial firms to raise money. US move triggers CDS default FT The exact amount of CDS on Fannie Mae and Freddie Mac are not known... Research US: Fannie and Freddie rescue, version 2.0 Danske Mortgage Giants’ Future: A Rebuild or a Teardown? NYT Fisher Plays Down Fed Role in Fan-Fred WSJ Blog Buffett: Treasury 'Did Exactly the Right Thing' CNBC Freddie's dead Baker The US government takeover of Freddie Mac and Fannie Mae shows why privatisation doesn't serve the public interest Why The Fannie-Freddie Bailout Will Fail Weiss Big intervention should assure America's recovery Kaletsky Saving Fannie and Freddie was nationalisation pure and simple Guardian (Elliott) Graphic Fannie-Freddie bailout won't unclog the housing-loan pipeline Kellner Bernanke, Greenspan and Paulson were Wrong on Fannie and Freddie, Housing Crisis IB Dodd To Call On Paulson To Testify BL Freddie rescue means relief for Chinese banks Standard Japan financial firms to keep their GSE securities MW But institutions hesitant about whether to buy more of them How many corporate bailouts are too many? IHT (NYT) Do we live in a market economy or not? Homebuyers May Get Lower Mortgage Rates After Takeover of Fannie, Freddie BL As Rates Dip, Calls to Banks Pick Up Washington Post BankRate Fannie & Freddie: Buying friends in D.C. CNN Former Fannie Mae execs sued in investor complaint Reuters In an investor lawsuit that claims the four lied about the company's financial position and artificially inflated its share price. ------------------------------------------------------------------------------------------------------------------------------- Borrowing Binge Weakens Europe's Companies as Recession Looms BL The great mortgage bail-out Independent Pressure is already growing for the US's unprecedented rescue of the mortgage market to be replicated in the UK Darling ready to intervene on housing Times Online Canadian house prices overvalued by up to 25%, study warns Financial Post China August Car Sales Fall, First Decline in 3 Years BL Russian stocks reel as invasion convinces investors to pull out USAT Stock Exchange glitch costs millions Times Online Consumer borrowing: Weakest in 7 months AP FED Monday September 8, 2008 Paulson Loses Sleep in `All Consuming' Rescue Negotiations BL Paulson Q&A B Interview Outlook: Fannie and Freddie Place Financials and Housing at Center Stage Schaeffers Treasuries Tumble After U.S. Takes Control of Fannie, Freddie BL Fannie Mae, Freddie Mac Taken Over by U.S. Government to Prevent Collapse BL ~ Paulson Statement ~ Bernanke Statement ~ Bush Statement ~ China and Japan hail U.S. mortgage rescue as doubts linger Reuters Rosenberg: “We find it difficult to see how it is bullish that the heavy hand of government is needed to such an extent” US Is "More Communist than China": Jim Rogers CNBC Governor Glenn Stevens Backs Bailout Age Paulson's Fannie-Freddie Move Is `Stopgap,' Leaving Fate to Next President BL Watershed event for $8 trillion in MBS, agencies unfolds Reuters FT on Freddie & Fannie The Dilemma of Fannie and Freddie NYT (Norris) Lenders With `Outsize' Fannie, Freddie Stakes May Need to Increase Capital BL FDIC: “...a limited number of smaller institutions have holdings that are significant compared to their capital.” China frets at US risk after Fannie/Freddie bailout Reuters Pimco's Bill Gross on the Fan/Fred rescue: "We like it" LA Times The Fannie/Freddie Bailout's Good News Cramer Bill Miller, what were you thinking when you backed up the truck on Freddie Mac? Blodget Fannie, Freddie Takeover Meets With Skepticism NY Sun Robert Barr: “Congress must stop treating the federal government like a national soup kitchen for businesses in trouble." Few Stand to Gain on This Bailout, and Many Lose NYT The Fannie, Freddie Surprise: The New Executives NY Sun Winners & Losers of the Fannie & Freddie Bailout WSJ Blog As Crisis Grew, a Few Options Shrank to One NYT For Freddie Mac, the beleaguered mortgage finance giant that was desperately trying to avoid a government takeover, the moment of truth came three weeks ago... -------------------------------------------------------------------------------------------------------------------------------- Rescue Offers a Short-Term Salve for Stocks WSJ Oh, This Is Not Good Hussman Funds Despite the potential for a "knee-jerk" rally...the government is also sending a signal that other financial institutions (particularly investment banks with high gross leverage multiples) may be vulnerable to failure. Be on red alert for US market chaos MSN (Fleck) Dr Doom: More gloom, the Kondratieff wave and what comes next FTA Rogers: How the Fed Will Fail and the One Sector Every Investor Should Be In MMorning Unraveling according to schedule Brimelow Schultz suggests just two alternative scenarios, both equally appalling Output Without Income Is Like a `Virgin Birth' Baum The credit gloom'will last to 2010' ThisisMoney Credit crunch baffling: Merrill executive Australian “According to our research department, global monetary growth is now at 13 per cent on an annual basis...” U.S. financial crisis spreads toward your wallet CS Monitor Gold up on firm oil, eyes dollar and U.S. bailout Reuters India’s gold imports jump 45% Daily Times OPEC ministers tackle falling oil prices AFP ˜Stuff Stocks’ Getting Interesting Again Saut Interview Russia aims to corner energy market: U.S. official Reuters Wall Street Trading Gets Zero Value From Lehman, Merrill Lynch Investors BL After being the most profitable business on Wall Street, trading has become a black hole. Lehman Shuffles Management for Third Time as Fixed-Income Losses Mount BL Washington Mutual CEO Killinger is out CNN Detroit's Blackmail Attempt Is Beyond Shameless WSJ Altria Agrees to Buy UST in $11.7 Billion Deal Reuters SEC `Missed Opportunity' to Repair Auction-Rate Market Injuring Investors BL Warren Buffett's Secret "10 Ways to Get Rich" Hits Hundreds of Sunday Newspapers CNBC Vintage jewels gain popularity as investments Reuters China to take anti-monopoly review of Coca-Cola deal: report AFP World stocks soar after Freddie, Fannie bailouts AP Interest rate cuts won't cause another bubble, but they could relieve the pain King U.K. Producer Prices Unexpectedly Declined the Most in 22 Years in August BL `Massively Overvalued' Pound Seen Declining 20% as Darling Voices Despair BL Borrowing Binge Weakens European Companies, Risking a Prolonged Recession BL The new China price Star Tribune Economic Growth Slowing In Latin America Forbes 'Exports Feared to Shrink on Worsening Global Economy' Korea Times Iran's inflation tops 27%: Central Bank Iranmania Computer bug halts UK stocks surge CNN Weekend Edition (Sept 6-7, 2008) Key U.S. Data Releases and Events Global Insight The Week Ahead Merk U.S. Retail Sales, Excluding Autos, Probably Posted First Drop in 6 Months BL Loan Giant Overstated the Size of Its Capital Base NYT Frank Confirms Treasury Intervention To Shore Up Fannie, Freddie W Candidates weigh in on stabilizing Fannie, Freddie AP Paulson readies the 'bazooka' Fortune (Barr) Fannie, Freddie blind to the bubble AP U.S. Near Deal on Fannie, Freddie WSJ NYT An announcement could come as early as this weekend. Forbes: “The Treasury, which has been hemming and hawing about a plan for weeks, may have been forced to act now by grumblings overseas...” Why This is not a Conservative Bailout MyBudget360 Silver State Bank in Nevada is shut AP FDIC Black: Fed's policy incompetent, misguided KnoxNews Why the Bear Is Alive and Well NYT Though share prices are off by about 20 percent since the market peaked on Oct. 9, 2007, corporate earnings —the “E” in the P/E ratio — have fallen even further. Volcker Says Finance System `Broken,' Losses May Rise BL “It is the most complicated financial crisis I have ever experienced, and I have experienced a few” Down the Rabbit Hole Schiff North - Swenlin - Amerman - Harding - Mogambo - Ash Summer Reading: New Research in Applied Microeconomics Conference Summary FRBSF Banking Crisis Solutions Old and New FRBSL PDF Hedge Funds Get Rattled As Investors Seek Exits WSJ With anxiety about hedge-fund woes gripping the market, funds have their own fear: their investors. Hedge funds ready to blow as positions liquidated Australian Debt-gorged hedge funds are the next ticking bomb in the global credit crisis as they liquidate their positions in equities and commodities ahead of an expected spike in redemptions... Hedgies Get Their Comeuppance Kass Long-Term Capital: It’s a Short-Term Memory Lowenstein Ospraie: Twin ports elevator OK despite hedge fund’s woes Duluth As Unemployment Surges So Do Fears About The Housing Crisis NBR Transcript One out of 10 borrowers with a prime adjustable rate loan is now either late with their payment or in foreclosure. Foreclosure Makes Its Move on Manhattan NYT Risky Loans Hurt Lender in California NYT Gordon Brown's 'sub-prime' rescue for house prices Telegraph Negative equity threat Britain's housing plan smells like Ponzi Saft The Credit Squeeze Hits Global Properties Business Week Developers of commercial properties from London to Tokyo are suffering as banks cut lending World financial system in state of dysfunction: RBC's Nixon G&M Credit Crisis Puts a Dent in Card Offers NYT Heading for a credit squeeze in UAE? Gulf News If the Pay Fix Is in, Good Luck Finding It NYT (Morgenson) Report: Nomura considering stake in Lehman AP GE may face civil action on securities violations AP HP's 'End Run' Around Windows Business Week Tyson Reduced to Junk CFO Stock Screen: Buy 'Em Like Buffett S&P Altria Pursuit of UST May Mean That Lorillard Becomes Next Purchase Target BL Tracing the Misfortunes of Citadel’s Russell NYTD Boeing, machinists talks fail; union set to strike USAT Ex-Credit Suisse broker in custody Reuters Greenberg could pay fine of up to $100 million: report Reuters Alabama group files suit over Jefferson County debt Reuters Tycoon jailed 2 hours for organ trading: paper Reuters It's no conspiracy: Gold is just priced right G&M Commodity Monthly: It's the economy, stupid! Danske PDF Commodity prices fall across board FT Libya says oil market is oversupplied AFP Mining Companies Fall on Concern Funds to Dump Stocks BL FTSE suffers worst week since 2002 Telegraph “The moment of truth has arrived.” Asian Stocks Post Biggest Weekly Slump in 13 Months BL Big Summer Sell-Off Hits the Russian Stock Market NYT Russia’s stock market is suffering its worst correction in nearly a decade Now Europeans Are Slower to Spend, and It Shows NYT (Norris) CLASS="link-06c"Fiscal hawk enters Japan's PM contest FT Pensions warning: 'A slow motion car crash' ThisisMoney The Lucky Country No Longer? Asia Sentinel Having lived far beyond its means for far too long, Australia faces slowing growth and rising inflation China won't stop the slump Australian Financial markets no longer believe that China's purchasing power will safeguard the Australian economy. Taiwan's Government May Act to Boost Economy, Arrest Slump in Stock Market BL Elections and the Loonie BMO Focus PDF India's new central bank governor pledges to battle inflation AFP US warship confronts Russian military in ‘tinderbox’ port Times Online A big bear grips unhappy markets FT Events in the past week have also served as a reminder that the credit crunch is far from over. Overview: Investors take cover as bears return FT Weekly Trends Scotia Week in Review NTrust Weekly Focus Danske PDFs A Very Recession-Like Employment Report Wachovia PDF Employmenr Report: Pronounced Weakness Confirms Recession NTrust PDF Friday September 5, 2008 Paulson Prepares to Prop Up Fannie, Freddie; Government May Lead Takeover BL Fed futures rule out rate hike in 2008 MW Mortgage Foreclosures in U.S. Rise at Fastest Pace in Almost Three Decades BL MBA Hedge fund Atticus denies it's liquidating WSJ CLASS="HotspotInternal" ONCLICK="javascript:clicks(this.href)" ONFOCUS="this.blur()"Payrolls in U.S. Fall More Than Forecast; Jobless Rate at Five-Year High BL TITLE="Permanent Link: Yes, Virginia Ã¢Â?â?œ Creditors do sometimes get a vote Ã¢Â?Â¦" REL="bookmark"BLS Global wealth to fall for first time in 7 years Financial Post PDF Excerpt Treasuries Rise, Heading for Biggest Weekly Gain in Six Months, on Economy BL Why Does it Make Sense to Use Operating Earnings? Comstock Gabelli Says Investors Have Good Reason to Worry About Earnings Next Year BL Beware September-October Jinx Dorfman About That Stock Market Crash... Blodget Boockvar Of Miller Tabak: Bear Market Has "A Ways To Go" RTT Comparing Bubbles: Will History Repeat Itself? Sedacca CLASS="cstrong DLMC_HCF txttrans_none"TedBits - Fekete Greenspan: Don't use Fed as a 'magical piggy bank' AP CLASS="post-title"How Soon We Forget Barrons It's been 10 years since the most famous hedge-fund collapse ever. But have investors taken this event to heart? Dollar Diplomacy Steve Forbes How to share in the dollar's surge Jubak LANG="en.uk"Tale Of Two Economies Forbes TITLE="Business lobby sees " REL="bookmark" HOUSING="" IN="" UNPRECEDENTED="" CRISIS"="" L.A."=""I'm Sprouting Bull Horns Kass Why the Fed cuts haven't worked CNN Fed's Yellen Sees `Substantial' Risks to U.S. Growth BL Here Are Five Things Republicans Won't Tell You Baum Ill wind may blow in August employment report MW No job turnaround on horizon CNN U.S. Financial Data, September 4 Issue FRBSL Credit strains linger, Pimco pleads for help Reuters CLASS="cstrong cf12"Merrill Lynch Cut to `Sell' at Goldman; Credit-Market Writedowns May Rise BL Monitor: Financial crisis update Danske PDF Accounts not receivable Economist Companies are taking longer to pay one another CLASS="link-06c"Shiller on Subprime Bloomberg Audio Price to Rent Ratio Caculated Risk The Donald to the Rescue? Barrons TITLE="NEW YORK (MarketWatch) -- Johnson Controls Inc. said Wednesday that it will cut workers and close plants to cut costs. This restructuring is expected to result in a fourth-quarter pre-tax charge of $450 million to $500 million and be done by early 2010. This comes as a result of slow European and North American auto markets and the movement of vehicle production to low-cost countries."Two NBA All-Stars Cut House Prices WSJ Big Three bailout may be around corner CNN Automakers seek $50 billion in low-interest loans to convert plants from trucks to fuel efficient cars; presidential election could help their chances. How not to rescue the Big Three CS Monitor CLASS="section_link"The second browser war Economist Altria Said to Be in Talks With Tobacco Maker UST NYT Magic, Mumbo-Jumbo Were Used to Sell Muniland Swaps Mysak A Con Game In Pinstripes WP We're entering that exciting phase of any financial crisis when the lawsuits come fast and furious, criminal charges are lodged, and Wall Street firms agree to pay hundreds of millions of dollars for having snookered their customers once again. Two Brokers Accused of Securities Fraud NYT Pimco appoints El-Erian as CEO Reuters Abramoff Gets Reduced Sentence of Four Years in Prison WP Crude Oil, Gold Drop on Dollar Gains, Slowing Economic Growth BL The Phony Express Sprott PDF Gold loses its luster China Daily Why pick on Pickens? Harrison The Perilous Price of Oil Soros Five Groups Hit Hard by Exaggerated Rumors Korea Times Rumors of a liquidity crisis are battering conglomerates on the stock market. Inflation Is Trumping George Soros in Hong Kong Pesek Rich in reserves, Chinese central bank is short of capital IHT (NYT) China tightens corporate foreign currency controls: state media AFP CLASS="shl"Britain's economy How bad is it? Economist U.K. plan for first-time home buyers is sure to fail Reuters (Saft) Car sales crash as economy hits the skids Times Online The Bank must act to end the euro’s wild rise FT Thai Protesters Say Government Plan for Referendum on Standoff Will Fail BL Templeton May Add Thai Stocks on Losses, Mobius Says BL Abu Dhabi group makes $354 million bid for English soccer team CS Monitor The west should use economics to rein in Russia FT TITLE="Short-term indicators point to turbulence, potential long-term gains -- By: Todd Salamone - Posted: 09/02/08 7:00 AM"Russia’s Oligarchs May Face a Georgian Chill NYT The Real World Order Statfor Thursday September 4, 2008 There's a Bull Market Somewhere? PIMCO (Gross) “If we are to prevent a continuing asset and debt liquidation of near historic proportions, we will require policies that open up the balance sheet of the U.S. Treasury – not only to Freddie and Fannie but to Mom and Pop on Main Street U.S.A....” U.S. Stocks Drop a Fourth Day, S&P 500's Worst Losing Streak Since January BL Moody's May Cut $1.2 Billion of CPDOs After Finding Second Modeling Error BL U.S.Aug. ISM services index 50.6% vs 49.5% in July ISM Employers in U.S. Decreased Payrolls by 33,000 in August, ADP Survey Shows BL U.S. Q2 productivitiy revised higher, unit labor costs lower MW CLASS="contentpagetitle"BLS JClaims Up Falling Down Joseph Stiglitz No manufacturing. No new ideas. What's our economy based on? Crash Opportunities, Part One Lamont Fed, ECB Must Unplug Markets From Life Support Gilbert Is U.S. Monetary Policy Really Too Loose? Lachman Capitulation watch continues Hulbert Bad sign that too many remain sanguine about market CLASS="link-06c"Dines sees pessimism as reason to be optimistic Brimelow Consumers Get Down To Basics NBR Transcript But some investment strategists, like Abby Joseph Cohen of Goldman Sachs, remain steadfastly bullish... Recessions and Career Opportunities North Comments on Mr. Marsden in The Wall Street Journal NTrust PDF Dallas Fed president foresees 'anemic' growth into 2009 USAT Implications of a Credit Crunch Fed Rosengren PDF Merrill Talks to Sell Bad Loans Faltering on Price, Korea Asset's Lee Says BL “The U.S. companies including Merrill need whatever capital they can get, even at the cost of making deals that may be less favorable to them” Troubled waters for regional banks CNN `Unforgiving' Lenders May Force Surge in European LBO Defaults, S&P Says BL Credit Spreads Widen Despite Signs of Recovery NY Sun For Lehman, painful choices ahead Reuters ONCLICK="s_id='four-pack Default-Money 4 lede 1';"Lehman: Skeptics Doubt a Korean Rescue Business Week MUFG rejects report to invest in Lehman Reuters Daewoo Shipbuilding Shows Subprime Woes Overwhelming Drillers' Order Surge BL Hedge funds face loss over Gustav Times Online ECB’s liquidity measures in spotlight FT Mansion Price Drops $7 Million; Agent Offers Bentley as Slump Reaches Rich BL House Prices Still Too High Despite Collapse Blodget Home-Price Bottom May Still Be a Year Away WSJ Toll Brothers Reports Fourth Straight Loss as U.S. Housing Slump Persists BL Florida Real Estate Bottom Signaled by Sale of Distressed Condo BL Wal-Mart Beats Expectations, but Many Retailers Sluggish AP Bank of America Must Settle Probe or Face Suit, Regulator Says BL GMAC to cut 5,000 jobs at ResCap mortgage unit R Auto News Flash Scotia PDF Ospraie: caught overlooking the hedge Times CLASS="link-666"After Ospraie, more hedge fund closures look likely Reuters Dry times for hedge funds Asia Times Private Equity Falls in ‘New Establishment’ NYTD AIG may park risky assets in new company: report Reuters Ex-Livent employee says he was told to keep improper transfers from documents G&M CLASS="cstrong cf12"Why Murdoch Owns the News Vanity Fair Angelina Jolie's House Opens a Window on Gustav Lewis Gold Price May Gain 10% on Indian Wedding, Festival Season, JPMorgan Says BL Silver stats to salivate over Mogambo Why cheaper oil signals trouble Fortune (Barr) CLASS="cstrong cf12"The Bad News About Falling Oil Prices Slate (Gross) If commodity prices are dropping, how come inflation might be getting worse? Recessionary forces are bringing the oil price back to reality, despite China Warner Goldman Sticks with $149 Oil Forecast CNBC Commodities Party Fizzles, So Should Investors Bail? CNBC Green Gold? Fortune China market plunge normal: Yam Standard "The fall is simply normal market consolidation. There should not be any [market-saving] measures." Beijing’s Olympian task is to curb inflation FT (Roach) Asia Currencies to Fall 12% on Capital Flight, ABN Amro Says BL South Korea Won Climbs From Four-Year Low as Kang Says There's No Crisis BL IMF dismisses fears of second SKorean fiscal crisis AFP Housing gloom as prices plunge 12.7% Times ECB Leaves Benchmark Rate at Seven-Year High of 4.25% to Fight Inflation BL Bank of England Keeps Interest Rate Unchanged at 5% on Inflation Concern BL Lean Times Affect Just About Everybody Korea Times Emerging economies' foreign reserves Yam Oil bonanza no relief to Saudi would-be home owners Reuters Japan Considers International Accounting Rules, Nikkei Reports BL Wednesday September 3, 2008 Fed Beige Book Says Economy `Slow' in Most Regions as Price Pressures Rise BL FED GM, Ford U.S. Auto Sales Slump as Truck Demand Plunges on Gasoline Prices BL Job Cuts Announced This Summer Highest Since 2002 CNN Institutions Own Nearly 8 of 10 Shares Conference Board "This represents a historic all-time high in the amount of total U.S. equities controlled by these institutional investors" Overshooting Bear’s Lair Observations on a Crisis Absolute Return Letter PDF Get ready for a September to remember Harrison Stocks: Bearish Signs Linger S&P Tice: Huge Stock Decline Ahead Newsmax There's Always Next Year WSJ (Complete via Google jump) Hopes Fade for Second-Half Stock Rally As Credit Crunch, Weak Earnings Persist Challenges facing the next president The Real Economic Scorecard Samuelson Paulson Asked to Spurn Rubin's Inflation Indexed Debt BL Global: Inflation expectations monitor Danske PDF Yes, Virginia - Creditors do sometimes get a vote... Setser No Credit For Central Bankers Mogambo How the Fed Can Fix the World NYT Chatty Alan Sloan What the presidential choice could mean FT (Wolf) Forum: The Economic Agenda Harvard Magazine (Summers) Spas try to slough off slumping economy with deals and discounts AP Demand and Price Are Falling for Lobster NYT Five Places to Look for Next Investment Bubble BL Ospraie Shuts Down Its Largest Fund WSJ (Complete via Google) "The losses were primarily caused by a substantial selloff in a number of our energy, mining and resource equity holdings during a six-week period characterized by some of the sharpest declines in these sectors in the past ten to twenty years." Major Commodities Fund Closes, In Blow to Lehman CNBC Lehman's 20% stake in Ospraie is part of the assets being shopped to raise capital. HSBC, China bank also interested in Lehman: report Reuters Barclays May Need $13 Billion More of Capital, Royal Bank of Scotland Says BL Option ARM Time Bomb About To Explode Mish The Next Bailout Option Armageddon Auction-Rate Mess Reminds Buyers to Still Beware Wasik Heavy use of Bank's emergency funding Telegraph "As has always been the case, there is no cap on the scheme. Its size will reflect its use." Business lobby sees "unprecedented housing crisis" in L.A. LA Times How J.P. Morgan steered clear of the credit crunch Fortune House price crash goes global Guardian The Housing Bubble, Still Burst WP Real estate agents try to boost sales with bike tours Union Tribune Gold Supply and Demand Saville India Loves Gold UBS Fact Versus Speculation Butler Pickens Doesn't See Oil Prices Going Below $100 CNBC Video Can Opec can defend $100 Guardian Despite Lower Oil Prices, Little Relief for Consumers NYT Iran calls for output cut as oil price drops Times Online Coca-Cola Offers to Acquire China's Huiyuan Juice Group for $2.3 Billion BL Staples 2Q profit drops 16 percent AP Johnson Controls to cut jobs and close plants MW Will Lone Star Stampede Germany's IKB? Spiegel SEC rule changes to lift oil shares and prompt M&A Reuters How Utility Stocks Became Risky NY Sun Value investors leap out of financials: sign of a bottom? Blogging Stocks The Follieri Charade Vanity Fair Whistleblower Says Dealers `Laundered' Bond Prices Mysak The whistleblower even has a name for the ``tax scheme.'' He calls it “premium-laundering.'' Ron Paul Nation: the other convention in town CS Monitor OECD says UK is worst placed in G7 to withstand global downturn Inde PDF File Whatever he does to bail out housing market, it will be too late to save Brown Inde No decoupling for the Japanese economy Reuters (Saft) Far from being "decoupled," Japan is proving to be on a very bad date with the global economy The Investment Banks Turn on Korea Asia Sentinel What ought to be one of the developed world’s most solid currencies is trashed by currency speculators SKorean won slumps to new low despite tough talk AFP Wile E. Coyote Won't Make Mark on South Korea Pesek Slowdown calls for more rate cuts Austalian Slowdown hits Wenzhou firms China Daily Zhejiang province was the country's biggest furniture exporter in the first five months, but many manufacturers are now shedding staff to survive. China to charge $6 a barrel to develop Iraq field AFP Islamic Bond Decree Cripples Sukuk, Throwing U.A.E. Projects Into Jeopardy BL Mexicans sending home less money BBC Tuesday September 2, 2008 Gold tumbles nearly $40 in commodities sell-off MW Buffett Becomes Real Estate Vulture as HomeServices Gets Deals Black Can't BL Manufacturing in U.S. Falls First Time in Three Months as Investments Cut BL ISM Construction spending lowest in 7 years AP Marc Faber Says Falling Oil `Symptom' of Economic Slump BL Video Hurricane Gustav's Insured Damage Losses May Reach $10 Billion BL Morning Outlook: Will September Live Up to the 'Doom and Gloom' Reports? Schaeffers Fun With Funding Contrary Investor Hussman Funds 2008 Annual Report Hussman PDF U.S. Stocks at 25.8 Times Earnings Means Rally Can't Continue BL A Bad Summer for Stocks? This Fall Could Be Worse CNBC HSBC says super-rich clients moving into cash Reuters And They Could Call It Frannie NYTD StrategEcon: Supply Crunch CIBC PDF Who Will Suffer Least from a US Depression? Asia Sentinel A gold bug states the case for cash and liquidity The US economy and the world-wide monetary disorder Jackson R.I.P.: 'Reaganomics Revolution' 1981-2011 Farrell Laboring longer is growing trend for Americans AP Study: Bankruptcies soar for senior citizens AP Central Banks: Changing Markets - Changing Mandates Hoenig PDF Here Are Five Things Democrats Won't Tell You Baum Scramble for cash as central banks dry up Times Online British banks soon could be scrambling for short-term funding once more... Banks: Dominoes Ready to Fall Trumpet Stay wary of Canadian bank stocks FP Look Out Below! Barron’s More disasters could hit debt-laden companies owned by private-equity shops Apollo, Blackstone and KKR. Why we're only half way through the credit crisis MoneyWeek Investors braced as emerging debt defaults rise Reuters Korea Development Bank Is in Talks With Lehman About Investment, Min Says BL Manhattan shows first cracks FT Reset loans add to US home woes FT Mortgage, credit crunch fills apartment complexes to capacity Pittsburg TR How the housing crash hurts your retirement Money Magazine Hurricane Gustav hits oilfield areas, but gas prices go down USAT Radical gold bugs say manipulation will fail Brimelow Got Gold Report – Firestorm Erupts Over U.S. Banks' Gold, Silver Shorting Resource Investor Shortage of Products, or Shortage of Knowledge? Nadler Gold sales in Abu Dhabi surge 300% Arabian business Ag Index Outflows End UBS Counting Writedowns Replaces Winning Deals as Wall Street's Newest Ritual BL Hedge funds face struggle for survival G&M Citadel, SAC Capital Get Pick of Casualties as Carnage Worsens BL Rough market conditions keep IPOs on sidelines FT US companies have been by far the least active Google takes aim at Microsoft with new Web browser AP Commerzbank to slash 9,000 jobs G&M Early indications of which sectors will lead next bull market Hulbert What The Future Holds Hirst Auction Is Crucial to Art-Market Confidence, Report Says BL South Korea heads for black September with won problems Times Won dive sparks freefall fear Standard “We've got the potential to unwind a lot of the secular bull run that we've seen in these Asian currencies all of this decade” SKorea vows 'stern' measures against won's steep fall AFP Rumors of September Crisis Rattle Markets Chosun Australia's Central Bank Cuts Rate to 7%, First Reduction in Seven Years BL European Central Bank 'Crazy': Analyst CNBC Video Brown Will Accelerate $1.8 Billion of Spending to Spur U.K. Housing Market BL Darling accused of prompting crisis in confidence Inde Trade-weighted pound hits weakest in 12 years Reuters Sony's Stagflation Worries Are Proving Prescient BL China and Russia Are Still Great Investments: Mobius CNBC China planning 'world's fastest train' from Beijing to Shanghai Telegraph The Cold Peace Spiegel What should the world do about Russia's new-found bravado? Thailand Declares State of Emergency as Protests Leave 1 Dead, 43 Injured BL Japan's unpopular prime minister resigns CS Monitor Fukuda's heir faces daunting task AT