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Daily Dispatches
Nouriel Roubini: Bailout benefits only banks and their unsecured creditors
Submitted by cpowell on Sun, 2008-09-28 21:11 Section: Daily DispatchesThere were many other options.
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By Nouriel Roubini
Roubini's Global EconoMonitor
Sunday, September 28, 2008
http://www.rgemonitor.com/blog/roubini/
Is purchasing $700 billion of toxic assets the best way to recapitalize the financial system? No. It is rather a disgrace and ripoff benefitting only the shareholders and unsecured creditors of banks.
Hedge funds grudgingly to reveal U.S. short positions
Submitted by cpowell on Sun, 2008-09-28 19:52 Section: Daily DispatchesBy Rachelle Younglai and Jennifer Ablan
Reuters
Sunday, September 28, 2008
http://www.reuters.com/article/marketsNews/idINN2630088120080928?rpc=44
Hedge fund managers are reluctantly preparing to disclose their short positions to U.S. regulators on Monday, a move set to give a rare public glimpse into their secretive trading strategies two weeks later.
Mints, refiners cut off gold, silver supplies, Irish dealer says
Submitted by cpowell on Sun, 2008-09-28 19:33 Section: Daily DispatchesGold and Silver Dealer Reports 'Unprecedented' Shortage of Metals
By David Clerkin
The Sunday Business Post, Dublin, Ireland
Sunday, September 28, 2008
http://www.thepost.ie/post/pages/p/story.aspx-qqqt=MARKETS-qqqm=nav-qqqi...
Traders, strategists expect central banks to prop dollar
Submitted by cpowell on Sun, 2008-09-28 19:16 Section: Daily DispatchesThey'll intervene in all markets except the precious metals markets, right?
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Expect Global Support for U.S. Dollar
From Bloomberg News
via The Age, Melbourne, Australia
Monday, September 29, 2008
http://business.theage.com.au/business/expect-global-support-for-us-doll...
European central banks cut sales of gold
Submitted by cpowell on Sun, 2008-09-28 16:46 Section: Daily DispatchesBy Javier Blas
Financial Times, London
Sunday, September 28, 2008
http://www.ft.com/cms/s/0/38c8d46c-8d7e-11dd-83d5-0000779fd18c.html
KYOTO, Japan -- European central banks have cut their sales of gold to the lowest level in almost a decade, reversing the practice of recent years when hefty sales helped depress prices.
Goldman Sachs faults NYTimes story on AIG exposure
Submitted by cpowell on Sun, 2008-09-28 16:34 Section: Daily DispatchesYes, everything must be fine at Goldman Sachs, as it was fine at Fannie Mae, Freddie Mac, Lehman Brothers, Enron, and the rest. That's why Goldman just converted to a bank with even greater borrowing rights at the Federal Reserve, right?
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By Jonathan Stempel
Reuters
Sunday, September 28, 2008
Other countries unlikely to buy U.S. bailout bonds, China banker says
Submitted by cpowell on Sun, 2008-09-28 09:37 Section: Daily DispatchesChinese Banker Predicts Weakened U.S. Dollar in Long Term
From Xinhua News Agency, Beijing
Sunday, September 28,2008
http://news.xinhuanet.com/english/2008-09/28/content_10128470.htm
TIANJIN, China -- The U.S. dollar will face short-term fluctuations and weaken in the long run, a leading Chinese banker predicted here on Sunday.
Rescuing AIG, U.S. saved Goldman Sachs $20 billion
Submitted by cpowell on Sun, 2008-09-28 09:26 Section: Daily DispatchesBehind Insurer's Crisis, Blind Eye to a Web of Risk
By Gretchen Morgenson
The New York Times
Sunday, September 28, 2008
http://www.nytimes.com/2008/09/28/business/28melt.html?_r=1&hp&o
"It is hard for us, without being flippant, to even see a scenario within any kind of realm of reason that would see us losing one dollar in any of those transactions."
David Morgan: How to get real metal from commodities exchanges
Submitted by cpowell on Thu, 2008-09-25 22:38 Section: Daily Dispatches10:32p ET Thursday, September 25, 2008
Dear Friend of GATA and Gold:
Bank borrowing from Fed reaches record $188 billion a day
Submitted by cpowell on Thu, 2008-09-25 22:20 Section: Daily DispatchesFed Keeps Banks Afloat as Money Market Crisis Deepens
By John Parry and Jamie McGeeever
Reuters
Thursday, September 25, 2008