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Daily Dispatches
Largest bank failure in history couldn't wait for Friday night
Submitted by cpowell on Thu, 2008-09-25 21:56 Section: Daily DispatchesGovernment Seizes Wa-Mu and Sells Some Assets
By Eric Dash and Andrew Ross Sorkin
The New York Times
Friday, September 26, 2008
http://www.nytimes.com/2008/09/26/business/26wamu.html?_r=1&hp&o
Washington Mutual, the giant lender that came to symbolize the excesses of the mortgage boom, was seized by federal regulators on Thursday night in the largest bank failure in American history.
U.S. Mint runs out of 1-ounce gold buffaloes
Submitted by cpowell on Thu, 2008-09-25 18:15 Section: Daily DispatchesBy Frank Tang
Reuters
Thursday, September 25, 2008
NEW YORK -- The U.S Mint said Thursday it was temporarily suspending sales of American Buffalo 24-karat gold one-ounce bullion coins because strong demand depleted its inventory.
U.S. financial dominance is over -- and it's Germany saying so, not just Iran
Submitted by cpowell on Thu, 2008-09-25 18:03 Section: Daily DispatchesBy Noah Barkin
Reuters
Thursday, September 25, 2008
http://www.reuters.com/article/newsOne/idUSTRE48O2L020080925
BERLIN -- Germany blamed the United States on Thursday for spawning the global financial crisis with a blind drive for higher profits and said it would now have to accept greater market regulation and a loss of its financial superpower status.
John Crudele: Paulson facilitates insider trading
Submitted by cpowell on Thu, 2008-09-25 11:14 Section: Daily DispatchesBy John Crudele
New York Post
Thursday, September 25, 2008
http://www.nypost.com/seven/09252008/business/bailout_plays_into_bernank...
... It has been fairly well documented (and not by me) that [Treasury Secretary Henry] Paulson was on the phone last week to Wall Street firms telling them that the federal government was riding to the rescue
Bailout can't hide it; the country is busted
Submitted by cpowell on Thu, 2008-09-25 10:22 Section: Daily DispatchesBy Chris Powell
Journal Inquirer, Manchester, Connecticut
Thursday, September 25, 2008
http://www.journalinquirer.com/articles/2008/09/25/chris_powell/doc48db9...
Asia fears panic selling of U.S. debt, Chinese adviser says
Submitted by cpowell on Thu, 2008-09-25 09:01 Section: Daily DispatchesBy Kevin Hamlin
Bloomberg News
Thursday, September 25, 2008
http://www.bloomberg.com/apps/news?pid=newsarchive&sid=anZHfo6tQi60
BEIJING -- Japan, China, and other holders of U.S. government debt must quickly reach an agreement to prevent panic sales leading to a global financial collapse, said Yu Yongding, a former adviser to the Chinese central bank.
CFTC relents and probes silver market
Submitted by cpowell on Thu, 2008-09-25 08:51 Section: Daily DispatchesPersistent Complaints of Foul Play Draw the Still-Skeptical Agency to Investigate
By Carolyn Cui
The Wall Street Journal
Thursday, September 25, 2008
Try filling up with Nymex gasoline futures
Submitted by cpowell on Thu, 2008-09-25 00:47 Section: Daily DispatchesU.S. Gasoline Inventories Lowest Since 1967
By Tom Doggett
Reuters
Wednesday, September 24, 2008
http://www.reuters.com/article/domesticNews/idUSTRE48N85320080924
China stops its banks from lending to U.S. banks
Submitted by cpowell on Thu, 2008-09-25 00:15 Section: Daily DispatchesMainland Lenders Ordered to Halt Interbank Deals with U.S. Firms
By Jane Cai and Adam Chen
South China Morning Post, Hong Kong
Thursday, September 25, 2008
Treasuries lose appeal for Asian, European investors
Submitted by cpowell on Wed, 2008-09-24 20:51 Section: Daily DispatchesBy Daniel Kruger and Kyoungwha Kim
Bloomberg News
Wednesday, September 24, 200
http://www.bloomberg.com/apps/news?pid=newsarchive&sid=a.48CsrdmQvo
Investors outside the United States, who own more than half of all Treasuries outstanding, say the government's $700 billion plan to revive the banking system will diminish the appeal of the nation's bonds.
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