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Daily Dispatches
Morgan's revised bid for Bear emphasizes original ripoff, Fed desperation
Submitted by cpowell on Mon, 2008-03-24 15:02 Section: Daily DispatchesThis emphasizes that MorganChase's original offer for Bear Stearns was even more of a ripoff and even more desperate a maneuver by the Federal Reserve than was originally suspected.
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JPMorgan Raises Bear Bid, Grabs Stake
By Chris Reiter
Reuters
Monday, March 24, 2008
http://www.reuters.com/article/topNews/idUSN2430313520080324
Time grows short to register for GATA's Washington conference
Submitted by cpowell on Sun, 2008-03-23 19:29 Section: Daily Dispatches4:21p PT Sunday, March 23, 2008
Dear Friend of GATA and Gold:
There's less than a month to go before our conference, "GATA Goes to Washington -- Anybody Seen Our Gold?," and space at the conference hotel, the Hyatt Crystal City in Arlington, Virginia, is limited and starting to fill up.
Clamor grows for more central bank intervention -- at least in Financial Times
Submitted by cpowell on Sun, 2008-03-23 19:20 Section: Daily DispatchesEconomist Forecasts Central Bank Action
By Chris Giles
Financial Times, London
Sunday, March 23, 2008
http://www.ft.com/cms/s/0/7816b7d8-f90e-11dc-bcf3-000077b07658.html
Ambrose Evans-Pritchard: Fed's rescue of Bear halted derivatives Chernobyl
Submitted by cpowell on Sun, 2008-03-23 06:21 Section: Daily DispatchesBy Ambrose Evans-Pritchard
The Telegraph, London
Sunday, March 23, 2008
http://www.telegraph.co.uk/money/main.jhtml?xml=/money/2008/03/23/ccfed1...
We may never know for sure whether the Federal Reserve's rescue of Bear Stearns averted a seizure of the $516 trillion derivatives system, the ultimate Chernobyl for global finance.
Fed joins Bank of England in denying junk mortgage purchase plan
Submitted by cpowell on Sat, 2008-03-22 19:50 Section: Daily DispatchesBy Sumeet Desai and Tim Ahmann
Reuters
Saturday, March 22, 2008
http://www.reuters.com/article/ousiv/idUSL2240948020080322
The Federal Reserve and Bank of England denied a report on Saturday that they were in talks over possibly using public funds to make mass purchases of mortgage-backed securities to ease the global credit crisis.
Ed Steer on last week's smashing of gold and silver
Submitted by cpowell on Sat, 2008-03-22 14:52 Section: Daily Dispatches2:50p ET Saturday, March 22, 2008
Dear Friend of GATA and Gold:
We're all hungry for incisive commentary on last week's smashing of gold and silver, and we probably won't do better than what's provided by GATA board member Ed Steer at the conclusion of Doug Casey's Daily Resource Plus letter for Friday. It's appended.
James Turk: Paper vs. metal
Submitted by cpowell on Sat, 2008-03-22 14:30 Section: Daily Dispatches2:21p ET Saturday, March 22, 2008
Dear Friend of GATA and Gold:
Emirs take pity for now but dollar's dominance is ending
Submitted by cpowell on Sat, 2008-03-22 11:08 Section: Daily DispatchesBy Fabrice Taylor
The Globe & Mail, Toronto
Saturday, March 22, 2008
http://www.theglobeandmail.com/servlet/story/LAC.20080322.RTAKINGSTOCK22...
Bank of England denies mortgage purchase plan
Submitted by cpowell on Sat, 2008-03-22 11:01 Section: Daily DispatchesBy Sumeet Desai, Mark Potter, and Peter Graff
Reuters
Saturday, March 22, 2008
http://www.reuters.com/article/companyNews/idUSL2246240120080322
LONDON -- The Bank of England denied a report in the Financial Times on Saturday that it was proposing using public funds to make mass purchases of mortgage-backed securities in order to ease the credit crisis.
Banker scolds Bank of England: Damn moral hazard, send us more cash
Submitted by cpowell on Sat, 2008-03-22 00:40 Section: Daily DispatchesGovernor Must Do More
to Assist Banks, Burt Says
By Christine Seib
The Times, London
Saturday, March 22, 2008
http://business.timesonline.co.uk/tol/business/industry_sectors/banking_...
The former deputy chairman of HBOS accused the Bank of England yesterday of failing to support British banks through the global credit crisis.
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