http://www.marketwatch.com/news/stor...%7D&siteid=rssHONG KONG (MarketWatch) -- Japanese stocks slumped Friday as panic-stricken investors dumped shares across the board after Wall Street stocks suffered deep losses overnight.
http://globaleconomicanalysis.blogsp...ith-water.htmlThe global economic dam has now cracked wide open. Water is pouring everywhere. The bursting of the dam is a fitting tribute to Paulson's and Bush's $700 billion boondoggle to add liquidity to banks.
http://bankimplode.com/blog/2008/10/09/hbos-implodes/The credit crisis claimed another casualty Thursday when Lloyds TSB PLC announced a 12 billion pound (US$22 billion) deal to take over struggling HBOS PLC, Britain's biggest mortgage lender and owner of major British banks including Halifax and the Bank of Scotland.
http://news.bbc.co.uk/2/hi/business/7660409.stmThe US government's debts have ballooned so badly the National Debt Clock in New York has run out of digits to record the spiralling figure.
http://globaleconomicanalysis.blogsp...t-in-bank.htmlWith that statement by Finance Secretary Arun Ramanathan, India joins the grown ranks of governmental fools that have no freaking idea what the problem even is.
The problem is solvency, not liquidity, and the root cause is fractional reserve lending. So what does India do? Lower reserve requirements of course, in a foolish attempt to stimulate lending when there is clearly insufficient capital to lend.
http://www.bloomberg.com/apps/news?p...BWM&refer=homeOct. 10 (Bloomberg) -- Italian Prime Minister Silvio Berlusconi said political leaders are discussing the idea of closing the world's financial markets while they ``rewrite the rules of international finance.''
http://lolfed.com/2008/10/09/schwarz...ets-to-a-pulp/
http://www.clusterstock.com/2008/10/lehman-cds-wipeoutSo the final results from the Lehman Brothers CDS auction are in, and they're even uglier than expected. Finally price is 8.625 cents on the dollar.
http://bloomberg.com/apps/news?pid=2...IiE&refer=homeOct. 10 (Bloomberg) -- Finance ministers and central bankers from the Group of Seven nations signaled reluctance to adopt a coordinated effort to shore up banks, risking a deeper crisis of confidence after this week's crash in global stock markets.
(Someone put Iceland on Ebay, but it got taken down)
http://finance.google.com/finance?q=CURRENCY:ISKIcelandic Currency (ISK) loses 73% of its value in a single day. Yesterday, 1 USD = 92 ISK. Today, 1 USD = 418 ISK.
http://globaleconomicanalysis.blogsp...sx-plunge.htmlJapan Nikkei & Australia ASX Plunge Biggest In History
http://www.marketwatch.com/news/stor...%7D&siteid=rssHONG KONG (MarketWatch) -- Japanese insurer Yamato Life Insurance Co. filed for bankruptcy protection from creditors Friday, reportedly becoming the first in the Japanese industry to do so in seven years.
http://www.marketwatch.com/news/stor...%7D&siteid=rssOil at more than 1-year low, down 17% on week
IEA cuts global demand forecast; Deutsche Bank says oil's still 'richly priced'
http://www.streetinsider.com/Insider...a/4055312.htmlThe plan was a complete failure, as it did nothing to stop the slide. This proves that short sellers were not the reason behind the fall in the stock values --- it was simply one thing "fundamentals" which are terrible.
http://globaleconomicanalysis.blogsp...ath-watch.htmlInvestors cast a shocking vote of no confidence in the future of U.S. automakers Thursday.
http://www.bloomberg.com/apps/news?p...yM0&refer=homeFannie, Freddie to Buy $40 Billion a Month of Troubled Assets
http://globaleconomicanalysis.blogsp...necessary.htmlG-7 Jawbones About Taking 'All Necessary Steps' to Stem Crisis
Anyone hearing anything else interesting?




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