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Daily Dispatches
Bernanke was wrong: Subprime contagion is spreading
Submitted by cpowell on Fri, 2007-08-10 15:11 Section: Daily DispatchesBy Bob Ivry
Bloomberg News Service
Friday, August 10, 2007
http://www.bloomberg.com/apps/news?pid=20601206&sid=abxvzZgdV5.I&refer=r...
Federal Reserve Chairman Ben S. Bernanke was wrong.
So were U.S. Treasury Secretary Henry Paulson and Merrill Lynch & Co. Chief Executive Officer Stanley O'Neal.
'Risky' yesterday, gold is 'safe haven' today
Submitted by cpowell on Fri, 2007-08-10 15:01 Section: Daily DispatchesGold, Silver Gain as Investors Seek Haven From Subprime Losses
By Pham-Duy Nguyen
Bloomberg News Service
Friday, August 10, 2007
http://www.bloomberg.com/apps/news?pid=20601012&sid=aayPibU3PJPc&refer=c...
Gold and silver rose in New York as investors sought a haven from potential losses tied to the U.S. subprime-mortgage collapse.
ECB's confidence trick won't restore faith in market
Submitted by cpowell on Fri, 2007-08-10 01:03 Section: Daily DispatchesBy Damian Reece, City Editor
The Telegraph, London
Friday, August 10, 2007
http://www.telegraph.co.uk/money/main.jhtml?xml=/money//2007/08/10/ccom1...
Confidence is like oxygen. It is colourless, odourless and tasteless. You really appreciate its importance only when it's not there.
No one in Asian financial districts will lack lunch money
Submitted by cpowell on Fri, 2007-08-10 00:48 Section: Daily DispatchesAsian Central Banks Join Bid
to Calm Money Markets
By Jeffrey Hodgson and Jan Dahinten
Reuters
Thursday, August 9, 2007
Peter Brimelow: What's up with gold?
Submitted by cpowell on Fri, 2007-08-10 00:19 Section: Daily DispatchesTandem Movement Downward
With Stocks Raises Suspicions
By Peter Brimelow
MarketWatch.com
Friday, August 10, 2007
http://www.marketwatch.com/news/story/gives-markets/story.aspx?guid=%7B0...
NEW YORK -- A triple-digit down day on financial system fears, but gold gaps down too. What gives?
Step right up in Tokyo and get your money
Submitted by cpowell on Thu, 2007-08-09 22:10 Section: Daily DispatchesBank of Japan Boosts Funds in System to Ease Credit
By Keiko Ujikane
Bloomberg News Service
Friday, August 10, 2007
http://quote.bloomberg.com/apps/news?pid=20601087&sid=arMyviv36l0c
TOKYO -- The Bank of Japan added 1 trillion yen ($8.49 billion) to the financial system, joining central banks in the U.S. and Europe in supplying cash to assuage a credit crunch.
Somehow Turk gets quoted by Bloomberg on gold price capping
Submitted by cpowell on Thu, 2007-08-09 21:24 Section: Daily DispatchesGold, Silver Tumble As Investors
Sell to Counter Credit Rout
By Pham-Duy Nguyen
Bloomberg News Service
Thursday, August 9, 2007
http://www.bloomberg.com/apps/news?pid=20601081&sid=aGM8Mxtekti4&refer=a...
Central bank's aggressive move stuns European markets
Submitted by cpowell on Thu, 2007-08-09 17:19 Section: Daily DispatchesFrom Financial Times, London
Tuesday, August 9, 2007
http://www.ft.com/cms/s/569c9418-46a0-11dc-a3be-0000779fd2ac.html
The European Central Bank stunned markets on Thursday with its aggressive intervention to quash a brewing liquidity crisis in European financial markets.
European emergency cash injection exceeds amount issued after 9/11
Submitted by cpowell on Thu, 2007-08-09 17:09 Section: Daily DispatchesThe European Central Bank today promised to give everyone as much cash as he wanted. (See second paragraph below.)
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ECB in E95 Billion Move on Market Turmoil
By Gillian Tett, Richard Milne, and Krishna Guha
Financial Times, London
Thursday, August 9, 2007
http://www.ft.com/cms/s/a8c5829a-466e-11dc-a3be-0000779fd2ac.html
European Commission forbids gold sale by Italy
Submitted by cpowell on Thu, 2007-08-09 16:54 Section: Daily DispatchesBrussels Frees Italy from Gold Fever
By Paul Bompard
Financial Times, London
Thursday, August 9, 2007
http://www.ft.com/cms/s/ea495ee0-469f-11dc-a3be-0000779fd2ac.html
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