Saturday, January 12, 2008

More Dollar problems

Paulson Sees `No Evidence' Housing Decline Is Ending: Treasury Secretary Henry Paulson said the housing decline will continue, and a program aimed at heading off a wave of foreclosures may need to be expanded beyond subprime borrowers.

BofA's awesome Countrywide tax break: Brace yourselves, taxpayers of America. You're going to help Bank of America finance its $4 billion buyout of Countrywide.

Write-down at Merrill Lynch may hit $15 billion: Merrill Lynch is expected to suffer $15 billion in losses stemming from soured mortgage investments, almost double its original estimate, prompting the firm to raise additional capital from an outside investor.

China's trade surplus hits record $262bn: Surplus cutting drives have left the banking system swamped with cash as China faces EU and US pressure to boost the yuan

US's triple-A credit rating 'under threat': The US is at risk of losing its top-notch triple-A credit rating within a decade unless it takes radical action to curb soaring healthcare and social security spending, Moody's, the credit rating agency, said yesterday.

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