Daily Dispatches

Fed creates another loan fund for investment banks, cuts rate

Submitted by cpowell on Sun, 2008-03-16 19:36 Section: Daily Dispatches

Fed Takes New Steps to Ease Crisis

By Jeannine Aversa
Associated Press
via Yahoo News
Sunday, March 16, 2008

http://news.yahoo.com/s/ap/20080316/ap_on_go_ot/fed_credit_crisis;_ylt=A...

WASHINGTON -- The Federal Reserve announced a series of new steps Sunday to help provide relief to a spreading credit crisis that threatens to plunge the economy into recession.

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Morgan gets Bear for $2 per share, with more Fed financing

Submitted by cpowell on Sun, 2008-03-16 19:24 Section: Daily Dispatches

JP Morgan Closes Deal on Bear Stearns

By Joe Bel Bruno and Madlen Read
Associated Press
via Yahoo News
Sunday, March 16, 2008

http://news.yahoo.com/s/ap/20080316/ap_on_bi_ge/jpmorgan_bear_stearns

Read more about Morgan gets Bear for $2 per share, with more Fed financing

Morgan races to acquire Bear before Asian markets open

Submitted by cpowell on Sun, 2008-03-16 16:14 Section: Daily Dispatches

By Dennis K. Berman, Susanne Craig, and Kate Kelly
The Wall Street Journal
Sunday, March 16, 2008

Bear Stearns Cos. was closing in on a deal Sunday afternoon to sell itself to J.P. Morgan Chase & Co., as worries deepened that the financial crisis of confidence could spread if Bear failed to find a buyer by Monday morning.

Read more about Morgan races to acquire Bear before Asian markets open

Steve Randy Waldman: Repurchase agreements and covert nationalization of banks

Submitted by cpowell on Sun, 2008-03-16 15:19 Section: Daily Dispatches

By Steve Randy Waldman
Saturday, March 8, 2008

http://www.interfluidity.com/posts/1204920896.shtml

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Are America's banks being nationalized by the Fed?

Submitted by cpowell on Sun, 2008-03-16 15:03 Section: Daily Dispatches

By Julie Satow
New York Sun
Wednesday, March 12, 2008

http://www.nysun.com/article/72721?page_no=1

While investors rejoiced yesterday at the news the Federal Reserve would flood the market with $200 billion in liquidity, a throng of economists and market commentators is fretting that the Fed's latest approach will accelerate inflation and weaken its own balance sheet.

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Paulson defends Bear bailout, evades issue of more bailouts

Submitted by cpowell on Sun, 2008-03-16 11:45 Section: Daily Dispatches

Treasury Chief Defends Fed's Intervention

By Jeannine Aversa
Associated Press
via Yahoo News
Sunday, March 16, 2008

http://news.yahoo.com/s/ap/20080316/ap_on_go_ca_st_pe/paulson_credit_cri...

Read more about Paulson defends Bear bailout, evades issue of more bailouts

Venezuela reported moving some oil contracts to euros

Submitted by cpowell on Sat, 2008-03-15 21:32 Section: Daily Dispatches

From Agence France-Press
via Yahoo News
Saturday, March 15, 2008

http://news.yahoo.com/s/afp/20080315/bs_afp/venezuelacommoditiesoilcurre...

CARACAS -- Venezuelan state oil giant PDVSA has decided to sign some oil contracts in euros in the face of a plummeting dollar, local media reported, citing officials.

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In the U.S., Big Brother monitors your every financial transaction

Submitted by cpowell on Sat, 2008-03-15 19:37 Section: Daily Dispatches

These are the laws of my administration ...
No one's allowed to smoke
Or tell a dirty joke
And whistling is forbidden.
If chewing gun is chewed
The chewer is pursued
And in the hoosegow hidden.
If any form of pleasure is exhibited,
Report to me and it will be prohibited.
I'll put my foot down.
So shall it be.
This is the land of the free.