http://www.bloomberg.com/apps/news?p...0L4&refer=homeAIG Falls After Insurer Posts Third Straight Loss
http://www.breitbart.com/article.php...cle=1&catnum=0WASHINGTON (AP) - Citigroup Inc. will buy back more than $7 billion in auction-rate securities and pay $100 million in fines as part of settlements with federal and state regulators, who said the bank marketed the investments as safe despite liquidity risks.
http://bankimplode.com/blog/2008/08/...-sells-um-off/The U.K.'s third- biggest bank, Barclays delivered more bad news to shareholders, namely that it got crushed in the first half of 2008 as the bank sacrificed profit on the altar of subprime related write-downs.
Barclays management reported a 35% profit crash and said more damage likely lay ahead. The bank said that it wrote down another 2.8 billion pounds in the first half.
http://biz.yahoo.com/cnnm/080808/080808_thebuzz.html$1 trillion in losses? Bank on more
Many bank stocks have bounced sharply from their panic-induced lows of mid-July on hopes that the bleak second-quarter results represented the bottom.
But the bigger-than-expected losses reported by Freddie Mac and Fannie Mae this week, accompanied by dismal forecasts for the housing market, are strong indicators that there are likely more credit-related woes to come.
http://bankimplode.com/blog/2008/08/08/a-royal-mess/For the Royal bank of Scotland nothing changes since it gorged itself on subprime sweets in the credit bubble and consumed raw ABN AMRO and all its ingested waste. Now Royal Bank is gaging, coughing up chunks billions at a time.
http://globaleconomicanalysis.blogsp...recession.htmlThe global economy is rapidly slowing. Today we can add two more countries to the list of countries in, or headed for recession. Let's start with a look at Canada.
http://globaleconomicanalysis.blogsp...continues.htmlThe euro fell the most in almost eight years, pushing the currency to a six-month low against the U.S. dollar, as traders pared bets the European Central Bank will raise interest rates as the economy slows.
http://europebusines.blogspot.com/20...-for-iran.htmlThe lead American ship in these war games, the USS Theodore Roosevelt (CVN71) and its Carrier Strike Group Two (CCSG-2) are now headed towards Iran along with the USS Ronald Reagon (CVN76) and its Carrier Strike Group Seven (CCSG-7) coming from Japan.
http://www.marketoracle.co.uk/Article5787.htmlMoney Printing to Save Imploding Banking System Will Send Gold Soaring
http://www.bloomberg.com/apps/news?p...4pQ&refer=homeAug. 8 (Bloomberg) -- Gold may outperform crude oil in the next six months as buyers in India, the world's biggest consumer of gold, stock up on the metal, according to Patrick Chidley, an analyst at Barnard Jacobs Mellet USA LLC.
What else is going on?






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