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  • Photo of tliacono

    Thursday morning links

    http://themessthatgreenspanmade.blogspot.com/2008/09/thursda...
    89 days ago in The Mess That Greenspan Made · Authority: 160

    TOP STORIES US bankers facing fraud charges - BBC Taking a Closer look at Other 3+% GDPs - The Big Picture Bank of England keeps interest rates at 5pc - Telegraph Eurozone rates on hold at 4.25% - BBC There's a Bull Market Somewhere? - Gross, Pimco

  • Photo of edwardnh

    News round-up: 5 Sep 2008

    http://www.creditwritedowns.com/2008/09/news-round-up-5-sep-...
    89 days ago in Credit Writedowns - Finance, Economics, Markets and Politics · Authority: 178

    It seems like the global economy is in a holding pattern right at the border of recession and slow growth. The writedowns continue to trickle in drip by drip, unemployment is rising ad retail sales are sluggish, but there has yet to be a trigger event for the doom many have predicted. Are we headed in that direction or will we continue to skate along for the foreseeable future? Financial Services The financial services sector is as close to a major institution as it has ever been. The news regarding Nataxis, Merrill, and Lehman is very dire. Let's not lose sight of all the US regionals and Spanish banks also in trouble. Barclays and Bradford & Bingley have been making a stir as well. What's going to happen in this sector. Natixis to Sell Stock at 61% Discount to Lift Capital - Bloomberg Merrill's bad debt sale to S.Korea agency stalls - Reuters Seoul Salvation - Portfolio Doubts on Merrill’s prospects of selling its bad loans - Evening Standard Lehman weighs real estate spinoff: report - Reuters Pimco: Government must halt asset sell-off tsunami - Reuters Economy I am just waiting to see what the jobs number says about the US. The unemployment claims look like a better indication of what's happening in the jobs space. Today at 8:30 AM we will see just how well the US is doing. Portfolio has an interesting take on the jobs number and the birth-death model. Take a look at the article. Also look at the NY Times article on China's cash bind after buying up tons of Fannie and Freddie debt. Fannie and Freddie are killing the Chinese central banks capital base, now only $3 billion. Illuminating. What Good Is the Jobs Number? - Portfolio August Sales Sluggish for Many Retailers - NY Times Common Misconceptions about the Consumer Price Index - Economist's View Bank of England leaves interest rates on hold despite recession threat - Telegraph Companies Flee Britain, Citing Its Tax Rates - NY Times Only the deluded truly believe that the worst is over - Times Online China’s Central Bank Is Short of Capital - NY Times Brazil declines Opec invitation - BBC News Housing It's still looking weak in the US and the UK. US: Hovnanian, Toll Brothers post quarterly losses - Reuters UK: House prices suffer biggest fall since records began - Guardian (The average house price is now below the stamp duty threshold) Politics Everyone seems to have forgotten about Ron Paul. Too bad. He is a man with a message regarding what America's true priorities should be. Meanwhile the lovefest for Sarah Palin continues unabated in Minnesota. Palin wows GOP, puts Dems on notice - Politico Michael Tomasky: A speech of zingers but no substance - Guardian How Palin changed the race - Politico Ron Paul breaks with convention - Guardian US elections: McCain family split over abortion rights - Guardian Personal Finance Independent-minded fund managers deserve a high value - Market Watch UK: Ten best-selling car models in August - Guardian (car sales were slowest since 1966) 10 vital money lessons for teens - MSN Money Your dog's bite could bankrupt you - MSN Money (who knew this about pets and biting people?)