Jonathan Weil: Wells Fargo gorges on mark-to-make-believe gains

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By Jonathan Weil
Bloomberg News Service
Wednesday, August 22, 2007

http://www.bloomberg.com/apps/news?pid=newsarchive&sid=aY8m0nta94GA

There's the kind of earnings investors can take to the bank. And then there's the kind the bank can show to investors.

Word to Wells Fargo & Co. investors: Beware the second kind.

Dodd denies 'political pressure' but still expects rate cut

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Dodd Denies 'Political Pressure' on Rates

By Edward Luce and Krishna Guha
Financial Times, London
Tuesday, August 21, 2007

http://www.ft.com/cms/s/0/0a76eab0-5010-11dc-a6b0-0000779fd2ac.html

Ted Butler: Fighting back

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5p ET Tuesday, August 21, 2007

Dear Friend of GATA and Gold:

Silver market analyst Ted Butler's new commentary explains how he has been warning Scotiabank against participating in the suppression of the silver price.

Borrower draws emergency loan from Bank of England

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By Stacy-Marie Ishmael and Gillian Tett
Financial Times, London
Tuesday, August 21, 2007

http://www.ft.com/cms/s/0/a2175b7a-4fcf-11dc-a6b0-0000779fd2ac.html

The Bank of England said it made an emergency £314 million loan to an unidentified party on Monday through its standing facility, which allows banks to borrow unlimited amounts at a penalty rate of 6.75 per cent.

Wall Street Journal: Fed fails so far in bid to reassure anxious investors

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Fed Fails So Far
in Bid to Reassure
Anxious Investors

By Serena Ng, Grep Ip, and Shefali Anand
The Wall Street Journal
Tuesday, August 21, 2007

Investors largely shrugged off the Federal Reserve's attempt to restore order to the credit markets and bought up the safest government securities, triggering the biggest drop in yields on short-term Treasury bills in nearly 19 years.

SEC charges Sentinel with fraud for commingling, misappropriating, leveraging

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By James B. Kelleher
Reuters
Monday, August 20, 2007

http://www.reuters.com/article/businessNews/idUSN2031044920070820

CHICAGO -- The U.S. Securities and Exchange Commission filed civil fraud charges on Monday against Sentinel Management Group Inc, the cash management firm serving the U.S. futures industry that filed for Chapter 11 bankruptcy protection late on Friday.

Ambrose Evans-Pritchard: Blame central banking, not capitalism

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Capitalism Not to Blame for Debacle

By Ambrose Evans-Pritchard
The Telegraph, London
Tuesday, August 21, 2007

http://www.telegraph.co.uk/money/main.jhtml?xml=/money/2007/08/21/ccbank...

The witch hunt has begun.

Goldman strategist predicts three rate cuts by year-end

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Markets Wary of Further Fed Cuts
as US Bond Yields Dive to '87 Levels

By Ambrose Evans-Pritchard and David Litterick
The Telegraph, London
Tuesday, August 22, 2007

http://www.telegraph.co.uk/money/main.jhtml?xml=/money/2007/08/21/cnmark...

Fed fails to calm money markets as commercial paper dump continues

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Fed Fails to Calm Money Markets

By Krishna Guha, Francesco Guerrera, and Saskia Scholtes
Financial Times, London
Monday, August 20, 2007

http://www.ft.com/cms/s/0/699699f4-4f21-11dc-b485-0000779fd2ac.html

Most U.S. primary dealer banks expect fed funds rate cut soon

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Calm After Fed Move Turns to Uncertainty

By Kevin Plumberg
Reuters
Monday, August 20, 2007

http://www.reuters.com/article/bondsNews/idUSL2068258020070820

NEW YORK -- The initial euphoria in financial markets after Friday's Federal Reserve discount rate cut faded on Monday, and questions began to be asked about what more needed to be done to improve confidence in lending.