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May 13, 2008 |
Citigroup is beyond repair
Miscellaneous
Banking analyst Meredith Whitney blasted Citigroup's turnaround plan yesterday, saying the financial giant is so deep in a black hole that even renown physicist Stephen Hawking could not help the ailing company. |
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May 12, 2008 |
The global slump of 2008-09 has begun as poison spreads
Telegraph (UK)
The avalanche of bankruptcies has begun. Six US companies of substance have defaulted on bonds over the past fortnight, against 17 for the whole of last year. |
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May 09, 2008 |
G7 loses grip on global policy to O5
Asia Times
A distinct set of global institutions governs the international economic system: the World Trade Organization, the International Monetary Fund, and the World Bank. Each has its specialty, and they are complemented by a number of even more specialized institutions with more restricted membership, such as the Bank for International Settlements and the Organization for Economic Cooperation and Development. |
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May 09, 2008 |
Collision ahead: Using credit cards to survive high prices
CNNMoney
No longer able to turn their homes for cash, Americans are increasingly using plastic to meet their basic living expenses. But many can't afford to pay the bills. |
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May 08, 2008 |
The delusion of markets
Asia Times
Through the second half of 2007 to the collapse of Bear Stearns, US equity indexes were leading America into recession. Markets were discounting shares to reflect serious and prolonged earnings and profit reduction. Stock prices were indicating a long hard fall. Serious turmoil in the financial industry, housing collapse and macro-economic weakness were seen as imminent and selling pressure was relentless. |
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May 08, 2008 |
Citigroup on the auction block: $400bn sale
Miscellaneous
NEW YORK (Reuters) - Citigroup Inc (C.N) will present as much as $400 billion of "non-core" assets that can be sold by the bank when it meets investors and analysts on Friday, a person familiar with the situation said. |
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May 02, 2008 |
Fed joins with European banks to battle credit crisis
Yahoo! News
The Federal Reserve announced Friday that it will expand a series of efforts to deal with the global credit crisis, in coordination with European central banks. |
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May 02, 2008 |
Kuwait Sovereign Fund May Boost Citi, Merrill Stakes
Bloomberg
Kuwait's $250 billion sovereign wealth fund may boost its stakes in Citigroup Inc. and Merrill Lynch & Co. as it pursues investments in companies battered by subprime- mortgage related losses. |
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May 01, 2008 |
National DNA database gets kickstart from feds
Worldnet Daily
With virtually no fanfare, President Bush signed into law a plan ordering the government to take no more than six months to set up a "national contingency plan" to screen newborns' DNA in case of a "public health emergency." |
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April 29, 2008 |
What the Fed Could Learn from Europe's Central Bank
Speigel Online
Never before have the central banks of the United States and Europe pursued such divergent strategies when it comes to dealing with a financial crisis. The increased value of the euro against the dollar reveals which strategy is working. |
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