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Daily Dispatches
U.S. nationalizes Freddie, Fannie, wiping out shareholders
Submitted by cpowell on Sun, 2008-09-07 11:20 Section: Daily DispatchesBy Glenn Somerville
Reuters
Sunday, September 7, 2008
http://www.reuters.com/article/newsOne/idUSN0527106320080907
WASHINGTON -- The U.S. government announced on Sunday that it was taking control of troubled mortgage finance giants Fannie Mae and Freddie Mac, effectively wiping out shareholders' interest in the publicly traded companies.
Al Korelin interviews Ed Steer of Casey Research and GATA
Submitted by cpowell on Sat, 2008-09-06 22:07 Section: Daily Dispatches10:02p ET Saturday, September 6, 2008
Dear Friend of GATA and Gold:
Al Korelin of the Korelin Economics Report has once again interviewed Casey Research analyst Ed Steer, a member of GATA's Board of Directors, about the increasingly crazy conditions of the financial markets. The interview is about 6 1/2 minutes long and you can listen to it at the Korelin site here:
Huge rise in the price of food in Britain
Submitted by cpowell on Sat, 2008-09-06 09:16 Section: Daily DispatchesBy Jon Swaine
The Telegraph, London
Friday, September 5, 2008
http://www.telegraph.co.uk/money/main.jhtml?xml=/money/2008/09/05/bcnfoo...
Supermarket food prices are soaring, with the price of key items rising at several times the rate of inflation, figures show.
NYTimes: Freddie, Fannie shareholders to be wiped out
Submitted by cpowell on Fri, 2008-09-05 21:58 Section: Daily DispatchesU.S. Rescue Seen at Hand for 2 Mortgage Giants
By Stephen Labaton and Andrew Ross Sorkin
The New York Times
Saturday, September 6, 2008
http://www.nytimes.com/2008/09/06/business/06fannie.html?_r=1&hp&o
U.S. near deal on Fannie, Freddie
Submitted by cpowell on Fri, 2008-09-05 20:55 Section: Daily DispatchesOptions Include Injecting
Capital in Mortgage Giants;
Management Shakeup Coming
By Deborah Solomon and Damian Paletta
The Wall Street Journal
Saturday, September 6, 2008
http://online.wsj.com/article/SB122064650145404781.html?mod=hpp_us_whats...
Toni Straka: Dichotomy in Western European gold and silver prices
Submitted by cpowell on Fri, 2008-09-05 08:55 Section: Daily Dispatches8:51a ET Friday, September 5, 2008
Dear Friend of GATA and Gold:
The growing contrast between the prices of commodity exchange gold and silver and actual silver is examined by Toni Straka, editor of The Prudent Investor, in commentary posted at 24hGold, "Dichotomy in Western European Gold and Silver Prices," which you can find here:
Indian customers lured by gold's lower price
Submitted by cpowell on Fri, 2008-09-05 08:32 Section: Daily DispatchesBy Javier Blas and Shyamantha Asokan
Financial Times, London
Friday, September 5, 2008
http://www.ft.com/cms/s/0/89cfe296-7aba-11dd-adbe-000077b07658.html?ncli...
LONDON -- Gold demand in India is booming as retail consumers in the yellow metal's biggest importer return to the market after a 20 per cent fall in the price of bullion.
China's central bank is short of capital
Submitted by cpowell on Thu, 2008-09-04 22:32 Section: Daily DispatchesBy Keith Bradsher
The New York Times
Thursday, September 4, 2008
http://www.nytimes.com/2008/09/05/business/worldbusiness/05yuan.html?ref...
HONG KONG -- China's central bank is in a bind.
Banks reel as ECB redraws funding rules
Submitted by cpowell on Thu, 2008-09-04 20:56 Section: Daily DispatchesBy Ralph Atkins, Anousha Sakoui, and Paul J. Davies
Financial Times, London
Thursday, September 4, 2008
http://www.ft.com/cms/s/0/b65c2842-7a6a-11dd-adbe-000077b07658.html?ncli...
Bank stocks in Europe and the UK fell sharply and the risk of owning their debt leapt on Thursday after the European Central Bank declared a crackdown on abuses of its bank liquidity operations.
U.S. must buy more assets to prevent 'tsunami,' bond manager Gross says
Submitted by cpowell on Thu, 2008-09-04 14:44 Section: Daily DispatchesBy Jody Shenn
Bloomberg News Service
Thursday, September4, 2008
http://www.bloomberg.com/apps/news?pid=20601087&sid=aZLLPW9YEa60&refer=home
NEW YORK -- The U.S. government needs to start using more of its money to support markets to stem a burgeoning "financial tsunami," according to Bill Gross, manager of the world's biggest bond fund.
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