Friday, October 03, 2008

More economic issues

PAPER: WACHOVIA faced 'silent' bank run; FDIC forced sale...

Bank Limits Fund Access by Colleges, Inciting Fears...

Insurers plunge on Sen. Reid's 'bankrupt' remark...

Oil falls below $94...

UBS bank turns corner, predicting profits for quarter...

Bailout hopes rise as more 'no' votes switch...


Bailout Focus On House as Crisis Spreads

By Eddie Evans and Ralph Boulton

U.S. factory orders fell 4 percent in August, on top of data on Wednesday that showed manufacturing activity in September at its weakest since the 2001 recession. U.S. jobless claims rose last week to their highest level in seven years, ahead of September payrolls data due out on Friday. Continue

What's in the Senate Financial Rescue Plan

By CNBC staff and wire reports

There's help for film and TV producers, motorsports and the wool trust fund. There's even a tax break for makers of wooden practice arrows for children. Continue

France calls financial crisis summit: UK prime minister Gordon Brown and the leaders of Germany and Italy are among those attending, President Nicolas Sarkozy’s office said.

European Governments Should Look to Ireland's Response on Credit Crisis: This was the week the credit crisis swept Europe. The fireworks began on Monday as Glitnir bank in Iceland was nationalised; Hypo Real Estate in Germany was rescued by a consortium of other German banks; and Fortis, the largest private employer in Belgium, was propped up by governments in the Benelux countries.

Bailout Passes U.S. Senate, House Foes Soften: After one spectacular failure, the $700 billion financial industry bailout found a second life Wednesday, winning lopsided passage in the U.S. Senate and gaining ground in the House, where Republicans opposition softened.

Soros Says Paulson's Financial-Rescue Plan Is `Ill-Conceived': Billionaire investor George Soros said the U.S. should inject equity into banks rather than buy their bad debts as proposed by Treasury Secretary Henry Paulson in his financial-rescue package.

Wall Street battered by economic fears, credit worry: Stocks slid on Thursday as tight credit markets and bleak economic data forced investors to focus on the rocky road still ahead for the U.S. economy even if Congress passes a $700 billion rescue package.

Middle Americans unite against the great bank rescue: “It's goddamn un-American,” Mr Benway said as he leant against his pickup outside the Thrift Store in Richfield, Minnesota. “We don't give money to companies. We're not France - yet.” For Ms Valentine, sitting in a nearby mall: “Congress was right to vote the Bill down. It doesn't tackle the root causes or help the people that need it.”

Some Repubs Switching Bailout No Votes To Yes

600,000 Jobs Lost - And Counting

Goldman Sachs Bribed Senate To Pass Bailout - Vid

Bailout Laugher - New Figure Now $850B

Real Financial Meltdown On The Way X 100

Let It Crash - Time For A Crucifixion

Roberts - Can A Bailout Succeed?

Kucinich - Bailout Plan Is 'Immoral'

What Lincoln Would've Said To Paulson's Ransom

To The NY Crooks Who Want A Bailout - Stuff It!

SEC Extends Its Ban On Short Selling

Bush Warns Congress Second Bailout Bill Is 'Essential'

$700B Bailout Is The Largest US Tax Hike In History

Bailout Fixes Nothing, Banking System Collapse Near Climax

Central Banks Starting To Buy Gold?

Not One Dime!

Ten Reasons NOT To Bail Out Wall Street

When Pigs Fly - The People Deceived Again

Your Last Chance - Bring Down The House

Pump & Dump Race Before Death Star Supernova

Euro Banks Further In Debt Than US Banks

Ex-Treasury Secretary O'Neill - Bailout Plan Is 'Crazy'

Senate Stabs America, Passes Bailout Fraud 74-25

US Auto Sales Dive Amid Credit Fears

Western World To Become Less Wealthy

Credit Markets Frozen As Banks Hoard Cash

Greenspan - Gold Is 'The Ultimate Form Of Payment'

The Political Nature Of The Credit Crisis

Banks Park Money In Euro Central Banks

Good Day For Democracy

Why Propping Up Banks Will Not Work

IMF Pressures Congress To Approve 'Bailout' Scam

Time/CNN - Let Risk-Taking Financial Inst Fail

Magnitude & Meaning Of The Proposed Bailout

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