Daily Dispatches

Goldman big winner in government's revised bailout of AIG


New AIG Rescue is Blessing for Banks

Buyers of Insurer's Default Swaps Would Recover Most of Their Money

By Serena Ng and Liam Pleven
The Wall Street Journal
Wednesday, November 12, 3008

Banks in the U.S. and abroad are among the biggest winners in the federal government's revamped $150 billion bailout of American International Group Inc.

Russia signals depreciation of ruble


By Charles Cloverin
Financial Times, London
Tuesday, November 11, 2008


Goldman urged bets against California bonds it helped sell


By Sharona Coutts, Marc Lifsher, and Michael A. Hiltzik
Los Angeles Times
Tuesday, November 11, 2008


Goldman, Sachs & Co. urged some of its big clients to place investment bets against California bonds this year despite having collected millions of dollars in fees to help the state sell some of those same bonds.

Lawrence A. Hunter: Obama's golden opportunity


By Lawrence A. Hunter
The Washington Times
Sunday, November 9, 2008


The worldwide economic crisis presents President-elect Barack Obama with a golden opportunity to establish his leadership bonafides preemptively before the anticipated foreign challenge comes to test his mettle as a leader.

Ted Butler: Silver was smashed to ease Morgan's takeover of Bear


3:22p ET Monday, November 10, 2008

Dear Friend of GATA and Gold:

Silver market analyst Ted Butler has obtained a letter from the U.S. Commodity Futures Trading Commission to U.S. Rep. Gary G. Miller, Republican of California, that virtually confirms Butler's speculation in September that the smashing of the silver price this year involved JPMorganChase's takeover of Bear Stearns in March.

Gene Arensberg: Big traders are least short gold in years


3p ET Monday, November 10, 2008

Dear Friend of GATA and Gold:

Fed's bank loans look like secret patronage


Fed Defies Transparency Aim in Refusal to Identify Bank Loans

By Mark Pittman, Bob Ivry, and Alison Fitzgerald
Bloomberg News
Monday, November 10, 2008


China OKs domestic spending boost; Europe plans more rate cuts


By Kirby Chien and Anna Willard
Sunday, November 9, 2008


China approved on Sunday a massive stimulus plan worth nearly $600 billion through 2010 to boost domestic demand as part of a global push for measures to soften an expected recession in many countries.

Gold seen outperforming oil as recession brews


By Frank Tang
Friday, November 7, 2008


NEW YORK -- The price of gold has not fallen as sharply as the price of crude oil and other cyclical commodities during the global financial crisis, and bullion should strengthen relative to other commodities as economic troubles deepen.

What if every Chinese got his own Treasury bond to spend?


China May Launch Economic Stimulus Package

From Reuters
Friday, November 7, 2008


BEIJING -- Evidence is mounting that China might launch a massive economic stimulus package in the near future as worries over a sharp slowdown in the world's fourth-largest economy intensify, officials said on Friday.

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