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Daily Dispatches
Ted Butler: Fighting back
Submitted by cpowell on Tue, 2007-08-21 17:01 Section: Daily Dispatches5p ET Tuesday, August 21, 2007
Dear Friend of GATA and Gold:
Silver market analyst Ted Butler's new commentary explains how he has been warning Scotiabank against participating in the suppression of the silver price.
Borrower draws emergency loan from Bank of England
Submitted by cpowell on Tue, 2007-08-21 09:09 Section: Daily DispatchesBy Stacy-Marie Ishmael and Gillian Tett
Financial Times, London
Tuesday, August 21, 2007
http://www.ft.com/cms/s/0/a2175b7a-4fcf-11dc-a6b0-0000779fd2ac.html
The Bank of England said it made an emergency £314 million loan to an unidentified party on Monday through its standing facility, which allows banks to borrow unlimited amounts at a penalty rate of 6.75 per cent.
Wall Street Journal: Fed fails so far in bid to reassure anxious investors
Submitted by cpowell on Mon, 2007-08-20 21:50 Section: Daily DispatchesFed Fails So Far
in Bid to Reassure
Anxious Investors
By Serena Ng, Grep Ip, and Shefali Anand
The Wall Street Journal
Tuesday, August 21, 2007
Investors largely shrugged off the Federal Reserve's attempt to restore order to the credit markets and bought up the safest government securities, triggering the biggest drop in yields on short-term Treasury bills in nearly 19 years.
SEC charges Sentinel with fraud for commingling, misappropriating, leveraging
Submitted by cpowell on Mon, 2007-08-20 20:50 Section: Daily DispatchesBy James B. Kelleher
Reuters
Monday, August 20, 2007
http://www.reuters.com/article/businessNews/idUSN2031044920070820
CHICAGO -- The U.S. Securities and Exchange Commission filed civil fraud charges on Monday against Sentinel Management Group Inc, the cash management firm serving the U.S. futures industry that filed for Chapter 11 bankruptcy protection late on Friday.
Ambrose Evans-Pritchard: Blame central banking, not capitalism
Submitted by cpowell on Mon, 2007-08-20 20:12 Section: Daily DispatchesCapitalism Not to Blame for Debacle
By Ambrose Evans-Pritchard
The Telegraph, London
Tuesday, August 21, 2007
http://www.telegraph.co.uk/money/main.jhtml?xml=/money/2007/08/21/ccbank...
The witch hunt has begun.
Goldman strategist predicts three rate cuts by year-end
Submitted by cpowell on Mon, 2007-08-20 20:03 Section: Daily DispatchesMarkets Wary of Further Fed Cuts
as US Bond Yields Dive to '87 Levels
By Ambrose Evans-Pritchard and David Litterick
The Telegraph, London
Tuesday, August 22, 2007
http://www.telegraph.co.uk/money/main.jhtml?xml=/money/2007/08/21/cnmark...
Fed fails to calm money markets as commercial paper dump continues
Submitted by cpowell on Mon, 2007-08-20 19:53 Section: Daily DispatchesFed Fails to Calm Money Markets
By Krishna Guha, Francesco Guerrera, and Saskia Scholtes
Financial Times, London
Monday, August 20, 2007
http://www.ft.com/cms/s/0/699699f4-4f21-11dc-b485-0000779fd2ac.html
Most U.S. primary dealer banks expect fed funds rate cut soon
Submitted by cpowell on Mon, 2007-08-20 19:39 Section: Daily DispatchesCalm After Fed Move Turns to Uncertainty
By Kevin Plumberg
Reuters
Monday, August 20, 2007
http://www.reuters.com/article/bondsNews/idUSL2068258020070820
NEW YORK -- The initial euphoria in financial markets after Friday's Federal Reserve discount rate cut faded on Monday, and questions began to be asked about what more needed to be done to improve confidence in lending.
What's in YOUR wallet? Do you even HAVE one now?
Submitted by cpowell on Mon, 2007-08-20 19:28 Section: Daily DispatchesCapitol One Shuts Mortage Unit, Sheds 1,900 Jobs
By Mike Baker
Associated Press
via Yahoo News
Monday, August 20, 2007
http://news.yahoo.com/s/ap/20070820/ap_on_bi_ge/capital_one_financial_wh...
How a panicky day led the Fed to act
Submitted by cpowell on Mon, 2007-08-20 02:17 Section: Daily DispatchesFreezing of Credit
Drives Sudden Shift;
Shoving to Make Trades
By Randall Smith, Carrick Mollenkamp, Joellen Perry, and Grep Ip
The Wall Street Journal
Monday, August 20, 2007
Strains in financial markets had been evident for weeks, but Thursday, Aug. 16, was different.