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Daily Dispatches
Feds seeking buyer for Washington Mutual
Submitted by cpowell on Wed, 2008-09-17 11:53 Section: Daily DispatchesBy Zachery Kouwe and Mark DeCambre
New York Post
Wednesday, September 17, 2008
http://www.nypost.com/seven/09172008/business/feds_try_to_find_a_buyer_f...
Treasury bails out Fed; now who bails out Treasury?
Submitted by cpowell on Wed, 2008-09-17 11:37 Section: Daily DispatchesU.S. Treasury Department Press Release
Treasury Announces Supplementary Financing Program
September 17, 2008
Venezuela may buy gold for coins, other investment products
Submitted by cpowell on Wed, 2008-09-17 08:37 Section: Daily DispatchesBy Claudia Carpenter
Bloomberg News
Wednesday, September 17, 2008
http://www.bloomberg.com/apps/news?pid=20601086&sid=aVL5dFLFQ52s
Venezuela's central bank may buy 15 metric tons of gold a year to develop gold investment products including coins, said Eli Sanchez, head of the gold department at Venezuela's central bank.
Chinese government paper urges new world financial order
Submitted by cpowell on Wed, 2008-09-17 01:12 Section: Daily DispatchesBy Chris Buckley
Reuters
Tuesday, September 16, 2008
http://www.reuters.com/article/ousiv/idUSPEK4365020080917?sp=true
BEIJING -- Threatened by a "financial tsunami," the world must consider building a financial order no longer dependent on the United States, a leading Chinese state newspaper said on Wednesday.
From now on every trade by AIG is a trade by the government
Submitted by cpowell on Wed, 2008-09-17 00:04 Section: Daily DispatchesGovernment Bails Out AIG with $85 Billion Loan
By Jeannine Aversa, Ieva M. Augstums,
and Stephen Bernard
Associated Press
via Yahoo News
Tuesday, September 16, 2008
http://news.yahoo.com/s/ap/20080917/ap_on_bi_ge/aig;_ylt=AonHCCQ2_HZ__h1...
Federal bank insurance fund dwindling
Submitted by cpowell on Tue, 2008-09-16 21:31 Section: Daily DispatchesBy Marcy Gordon
Associated Press
via Yahoo News
Tuesday, September 16, 2008
http://biz.yahoo.com/ap/080916/bank_deposits_safety.html?.v=3
WASHINGTON -- Banks are not the only ones struggling in the growing financial crisis. The fund established to insure their deposits is also feeling the pinch, and the taxpayer may be the lender of last resort.
Jeff Christian: Nothing to see in the silver market
Submitted by cpowell on Tue, 2008-09-16 21:14 Section: Daily Dispatches9:08p ET Tuesday, September 16, 2008
Dear Friend of GATA and Gold (and Silver):
U.S. Govt. to buy 80% of AIG with $85 billion loan
Submitted by cpowell on Tue, 2008-09-16 20:39 Section: Daily DispatchesFrom CNBC.com
Tuesday, September 16, 2008
http://www.cnbc.com//id/26747020?
American International Group will get an $85 billion loan from the federal government in exchange for an 80 percent stake in itself, sources have told CNBC.
Sources said the loan, which will allow AIG to avoid bankruptcy, will be secured and include incentives for quick asset-sales by AIG.
Lehman bankruptcy breaks the buck at money-market fund
Submitted by cpowell on Tue, 2008-09-16 20:16 Section: Daily DispatchesReserve Primary Money Fund Falls Below $1 a Share
By Christopher Condon
Bloomberg News
Tuesday, September 16, 2008
BOSTON -- Reserve Primary Fund became the first money-market fund in 14 years to expose investors to losses after writing off $785 million of debt issued by bankrupt Lehman Brothers Holdings Inc.
U.S. government considers bailout for AIG
Submitted by cpowell on Tue, 2008-09-16 20:09 Section: Daily DispatchesAuthorities Consider Loan to AIG
By Francesco Guerrera, Aline van Duyn, and Krishna Guha
Financial Times, London
Tuesday, September 16, 2008
http://www.ft.com/cms/s/0/271257f2-83f1-11dd-bf00-000077b07658.html?ncli...
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