Tuesday, September 30, 2008

Sunday, September 28, 2008

Friday, September 26, 2008

Wednesday, September 24, 2008

Monday, September 22, 2008

Sunday, September 21, 2008

Thursday, September 18, 2008

Tuesday, September 16, 2008

More economic issues



Stocks Slide Most in Six Years...


FDIC monitoring impact on insured banks...

PUMP: Fed Injects $70 Billion of Reserves; Most Since 9/11...


Bloomberg: NYC 'Well-Positioned' to Weather Revenue Drop..

McCain says economic 'fundamentals' strong, Obama attacks...

Capital Punishment: Lehman on its way to the Gallows?

By Mike Whitney

The funny thing about capitalism is that you need capital to play. When the bank-vault is full of nothing but worthless mortgage-backed securities (MBS) and overvalued junk bonds; the whole thing goes belly-up fast. Continue

`Tectonic' Shift on Wall Street as Lehman Fails, Merrill Sold

By Christine Harper

In the biggest reshaping of the financial industry since the Great Depression, two of Wall Street's most storied firms, Merrill Lynch & Co. and Lehman Brothers Holdings Inc., headed toward extinction. Continue

Financial Russian Roulette


2008 could be 1931 revisited. Continue

The Crash of Western Capitalist Civilization?

By Richard_C_Cook

“Train-wreck” doesn't even begin to describe what is starting to happen to the U.S. today with the financial crisis, an onrushing depression, and the failure of George W. Bush's war policy as he is faced down by Iran and the Russian bear. But in an even broader sense, the West, as a civilization, after a century of world war and the utter failure of global finance capitalism, may have reached its limits. Continue

Lehman Workers Clear Desks, Weep After Bankruptcy: Lehman Brothers Holdings Inc.'s employees worldwide are clearing their desks, waiting to hear if they'll be paid, and starting to look for work after the investment bank filed for the biggest bankruptcy in history.

Wake-Up Call: Lehman's Mortgage Marks: Anyone else holding large amounts of tainted mortgages has to worry. Lehman's potential unwinding, along with any aggressive actions by Merrill and AIG to offload mortgage assets, could mean widespread losses as other banks mark down their own holdings.

10 Banks Form $70B Fund to Stave Off Crash: Ten of the world's largest banks have formed a massive liquidity fund to mitigate the effects of the Lehman Brothers meltdown, reports the Financial Times. All the investment banks will be able to borrow up to a third of the $70 billion fund in order to reduce volatility and stay in business while Lehman is being wound down. They will also be able to borrow from the Fed under newly relaxed terms

S&P cuts BofA rating, may cut again, Moody's may cut: Moody's Investors Service also placed the bank on review for downgrade after it said it will purchase Merrill Lynch (MER.N: Quote, Profile, Research, Stock Buzz) for $50 billion.

China Cuts Rates as U.S. Turmoil Adds to Global Risks: China cut interest rates for the first time in six years and allowed most banks to set aside smaller reserves as worsening credit-market turmoil and weakening export demand dimmed the outlook for economic growth.

The next big bang is private equity: Wall Street is in crisis, undoubtedly the worst in history, as one tarnished giant after another topples. The real problem, though, is no one can tell where it will end.

Wilbur Ross: Possibly a Thousand Banks Will Close: In an exclusive interview with CNBC.com, Wilbur Ross, chairman and CEO of WL Ross & Co., says he sees possibly as many as a thousand bank closures in the coming months.

Industrial Production in U.S. Fell More Than Forecast: Industrial production in the U.S. fell in August by the most in almost three years as the slowdown in consumer spending prompted automakers to cut back.

Fed Injects $70B Into Banking System - Most Since 911

Americans Should Worry About Bank Deposits

Lehman Is Dead - Where's The Crime Scene Tape?

Kidd - Freddie, Fannie, Fascism - Where Was Congress?

Is This The Death Knell For Derivatives?

Bank Customers Urged Not To Panic

The Death Of Wall Street - Part 1

US Financial Apocalypse = Decade Long Depression

Dow Down 500 Points - Stocks Get Pounded

The Crash Of Western Capitalist Civilization

Bush: Markets 'Flexible & Resilient' (Cuckoo!)

Possibly A Thousand Banks Will Close

AIG Selloff To Draw Many Bidders

Tectonic Shift As Lehman Fails, Merrill Sold

Big Insurer AIG's Portfolio Plummets

B Of America Will Buy Merrill To Save It


Monday, September 15, 2008

Saturday, September 13, 2008

Monday, September 8, 2008

Friday, September 5, 2008

Thursday, September 4, 2008