Daily Dispatches

Worried bankers seek to shift risk to Uncle Sam

Submitted by cpowell on Thu, 2008-02-14 02:55 Section: Daily Dispatches

By Damian Paletta
The Wall Street Journal
Thursday, February 14, 2008

WASHINGTON -- The banking industry, struggling to contain the fallout from the mortgage debacle, is urgently shopping proposals to Congress and the Bush administration that could shift some of the risk for troubled loans to the federal government.

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Debt crisis spreads to U.S. municipalities

Submitted by cpowell on Wed, 2008-02-13 20:16 Section: Daily Dispatches

By Aline van Duyn and Michael Mackenzie
Financial Times, London
Wednesday, February 13, 2008

http://www.ft.com/cms/s/0/4e5d3dec-da8a-11dc-9bb9-0000779fd2ac.html?ncli...

A collapse in confidence in a $330 billion corner of the debt market has left US municipalities and student loan providers facing spiralling interest rate costs.

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GATA's message slowly seeps into the financial mainstream

Submitted by cpowell on Wed, 2008-02-13 15:31 Section: Daily Dispatches

3:30p ET Wednesday, February 13, 2008

Dear Friend of GATA and Gold:

Today brought more evidence that GATA's message is slowly seeping into the financial mainstream. It comes in commentary by a couple of currency strategists, Kathy Lien and Boris Schlossberg, at Minyanville, "Gold Reaching for the Sky," and you can find it here:

http://www.minyanville.com/articles/GLD-djia/index/a/15913

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Ted Butler: Back to basics

Submitted by cpowell on Wed, 2008-02-13 12:51 Section: Daily Dispatches

12:48p ET Wednesday, February 13, 2008

Dear Friend of GATA and Gold:

Silver market analyst Ted Butler says that if you ever get tired of trying to figure out the daily movements of the silver price, you can find refuge in silver's fundamentals, which he lays out in his new essay, "Back to Basics," at GoldSeek's companion site, SilverSeek, here:

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Depression risk may force government to buy many assets, analyst says

Submitted by cpowell on Wed, 2008-02-13 12:21 Section: Daily Dispatches

By John Parry
Reuters
Tuesday, February 12, 2008

http://www.reuters.com/article/newsOne/idUSGOR27660220080212?sp=true

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U.S. credit crisis escalates as mortgage defaults spread

Submitted by cpowell on Wed, 2008-02-13 11:49 Section: Daily Dispatches

By Ambrose Evans-Pritchard
The Telegraph, London
Wednesday, February 13, 2008

http://www.telegraph.co.uk/money/main.jhtml?xml=/money/2008/02/13/cnusa1...

Defaults in the US housing market are spreading from sub-prime to the much larger stock of top-grade housing debt, threatening to set off a wave of even bigger losses for banks and investment funds.

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No hiding huge inflation in Britain anymore

Submitted by cpowell on Mon, 2008-02-11 23:59 Section: Daily Dispatches

Families Hit With L1,300 Rise in Cost of Living

By Harry Wallop
The Telegraph, London
Tuesday, February 12, 2008

http://www.telegraph.co.uk/news/main.jhtml?xml=/news/2008/02/12/ncost112...

Families are having to pay an extra L1,300 a year in household bills as food and fuel prices rise at their fastest rate for 17 years.

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Saudi official says riyal's peg to dollar will continue

Submitted by cpowell on Mon, 2008-02-11 23:37 Section: Daily Dispatches

By Michael Peltier
Reuters
Monday, February 11, 2008

http://www.reuters.com/article/oilRpt/idUSN1117122320080212

TALLAHASSEE, Florida -- Saudi Arabia's currency and oil price will remain tied to the U.S. dollar despite its current weak valuation, Saudi Minister of State Abdullah Alireza said on Monday.