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September 18, 2008 |
Central Banks Offer Extra Funds to Calm Money Markets
Bloomberg
The Federal Reserve almost quadrupled the amount of dollars central banks can auction around the world to $247 billion in a coordinated bid to ease the worst crisis facing financial markets since the 1920s. |
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September 18, 2008 |
'The World As We Know It Is Going Down'
Speigel Online
Panic is the word of the hour on Wall Street. Now even Morgan Stanley is fighting for survival. The commercial bank Wachovia and China's Bank Citic are being discussed as possible rescuers. The crisis has led President Bush to cancel a trip. |
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September 17, 2008 |
Russian Emergency Funding Fails to Halt Stock Rout
Bloomberg
Russia poured $44 billion into its three biggest banks and halted stock trading for a second day in a bid to halt the biggest financial crisis since its devaluation and debt default a decade ago |
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September 16, 2008 |
How the Masters of the Universe ran amok and cost us the earth
The Scotsman
SLAM. Slam. Slam. Slam. Like a scene from a gathering of Mafia dons, the doors of 30 black Lincolns slammed shut as their besuited occupants stepped out into a Manhattan downpour – and into a global financial storm. |
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September 16, 2008 |
Who's next after Lehman Brothers is fed to the wolves?
Telegraph (UK)
One can date the onset of the Great Depression from December 1930 with the collapse of the Bank of the United States, a mid-size lender to the Jewish community in New York. |
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September 15, 2008 |
Lehman: Biggest Bankrupcy in History
CNNMoney
Lehman Brothers Holdings Inc. (LEH) filed for Chapter 11 bankruptcy Monday in New York, listing debts of $613 billion and naming as unsecured creditors owed hundreds of millions of dollars banks from Tokyo, Hong Kong, New York, Singapore and Taipei, among others. |
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September 15, 2008 |
European central banks say they're ready to act
Int'l Herald Tribune
As European stock markets opened sharply down Monday, major central banks said that they were braced to intervene to stabilize money markets after the upheaval on Wall Street. |
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September 15, 2008 |
Is anyone left to save WaMu?
CNNMoney
Don't forget about Washington Mutual. Concerned that Wall Street has done just that, the nation's largest savings-and-loan plummeted 24% in early market trading. |
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September 15, 2008 |
Revealed: UK’s first official sharia courts
TimesOnline (UK)
ISLAMIC law has been officially adopted in Britain, with sharia courts given powers to rule on Muslim civil cases. |
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September 15, 2008 |
WaMu Rating Lowered to Junk by S&P on Mortgage Losses
Bloomberg
Washington Mutual Inc., the biggest U.S. savings and loan, had its credit rating cut to junk by Standard & Poor's because of the deteriorating housing market. |
