Daily Dispatches

Treasury bails out Fed; now who bails out Treasury?

Section:

U.S. Treasury Department Press Release

Treasury Announces Supplementary Financing Program
September 17, 2008

http://www.ustreas.gov/press/releases/hp1144.htm

Venezuela may buy gold for coins, other investment products

Section:

By Claudia Carpenter
Bloomberg News
Wednesday, September 17, 2008

http://www.bloomberg.com/apps/news?pid=20601086&sid=aVL5dFLFQ52s

Venezuela's central bank may buy 15 metric tons of gold a year to develop gold investment products including coins, said Eli Sanchez, head of the gold department at Venezuela's central bank.

Chinese government paper urges new world financial order

Section:

By Chris Buckley
Reuters
Tuesday, September 16, 2008

http://www.reuters.com/article/ousiv/idUSPEK4365020080917?sp=true

BEIJING -- Threatened by a "financial tsunami," the world must consider building a financial order no longer dependent on the United States, a leading Chinese state newspaper said on Wednesday.

From now on every trade by AIG is a trade by the government

Section:

Government Bails Out AIG with $85 Billion Loan

By Jeannine Aversa, Ieva M. Augstums,
and Stephen Bernard
Associated Press
via Yahoo News
Tuesday, September 16, 2008

http://news.yahoo.com/s/ap/20080917/ap_on_bi_ge/aig;_ylt=AonHCCQ2_HZ__h1...

Federal bank insurance fund dwindling

Section:

By Marcy Gordon
Associated Press
via Yahoo News
Tuesday, September 16, 2008

http://biz.yahoo.com/ap/080916/bank_deposits_safety.html?.v=3

WASHINGTON -- Banks are not the only ones struggling in the growing financial crisis. The fund established to insure their deposits is also feeling the pinch, and the taxpayer may be the lender of last resort.

Jeff Christian: Nothing to see in the silver market

Section:

9:08p ET Tuesday, September 16, 2008

Dear Friend of GATA and Gold (and Silver):

U.S. Govt. to buy 80% of AIG with $85 billion loan

Section:

From CNBC.com
Tuesday, September 16, 2008

http://www.cnbc.com//id/26747020?

American International Group will get an $85 billion loan from the federal government in exchange for an 80 percent stake in itself, sources have told CNBC.

Sources said the loan, which will allow AIG to avoid bankruptcy, will be secured and include incentives for quick asset-sales by AIG.

Lehman bankruptcy breaks the buck at money-market fund

Section:

Reserve Primary Money Fund Falls Below $1 a Share

By Christopher Condon
Bloomberg News
Tuesday, September 16, 2008

BOSTON -- Reserve Primary Fund became the first money-market fund in 14 years to expose investors to losses after writing off $785 million of debt issued by bankrupt Lehman Brothers Holdings Inc.

U.S. government considers bailout for AIG

Section:

Authorities Consider Loan to AIG

By Francesco Guerrera, Aline van Duyn, and Krishna Guha
Financial Times, London
Tuesday, September 16, 2008

http://www.ft.com/cms/s/0/271257f2-83f1-11dd-bf00-000077b07658.html?ncli...

AIG fears halt exchange-traded commodities

Section:

By Rosie Murray-West
The Telegraph, London
Tuesday, September 16, 2008

http://www.telegraph.co.uk/money/main.jhtml?xml=/money/2008/09/17/cnetc1...

Shareholders were left unable to trade popular commodity securities yesterday, due to fears over the future of their backer, AIG.

Syndicate content