You are here
Daily Dispatches
Murray Pollitt: The big shorts in gold are also the big frauds
Submitted by cpowell on Mon, 2007-12-10 21:53 Section: Daily Dispatches10:11p ET Monday, December 10, 2007
Dear Friend of GATA and Gold:
Ted Butler: The cop on the beat -- Part III
Submitted by cpowell on Mon, 2007-12-10 21:46 Section: Daily Dispatches9:45p ET Monday, December 10, 2007
Dear Friend of GATA and Gold:
Trade dollars for an even more imaginary currency -- just please don't spend them!
Submitted by cpowell on Mon, 2007-12-10 19:47 Section: Daily Dispatches7:41p ET Monday, December 10, 2007
Dear Friend of GATA and Gold:
What may be a trial balloon was floated today in the Financial Times via an essay by a former U.S. Treasury Department official, Fred Bergsten, headlined "How to Solve the Problem of the Dollar," which is appended here.
Citigroup quietly unloads toxic SIVs to junior investors
Submitted by cpowell on Mon, 2007-12-10 19:10 Section: Daily DispatchesBy Paul J. Davies, David Wighton, and Adam Jones
Financial Times, London
Monday, December 10, 2007
http://www.ft.com/cms/s/0/e35b3628-a769-11dc-a25a-0000779fd2ac.html?ncli...
Societe Generale rescues SIV fund to avoid fire sale
Submitted by cpowell on Mon, 2007-12-10 18:27 Section: Daily DispatchesBy Sebastian Boyd and Gregory Viscusi
Bloomberg News Service
Monday, December 10, 2007
http://www.bloomberg.com/apps/news?pid=20601087&sid=aoqP2ef8rtgM&refer=home
Societe Generale SA, France's second-biggest bank by market value, will bail out a $4.3 billion fund after losses related to the collapse of the U.S. subprime-mortgage market to avoid a fire sale of assets.
Troubled bond insurer gets $1 billion investment from buyout firm
Submitted by cpowell on Mon, 2007-12-10 17:48 Section: Daily DispatchesBy Dane Hamilton
Reuters
Monday, December 10, 2007
http://www.reuters.com/article/ousiv/idUSN0619739020071210
NEW YORK -- Buyout firm Warburg Pincus LLC said on Monday it would invest $1 billion in MBIA Inc., bolstering the finances of the world's largest bond insurer amid concern about its ability to pay claims on faltering mortgage-backed bonds.
MineWeb notes GATA campaign for Fed, Treasury gold documents
Submitted by cpowell on Mon, 2007-12-10 08:54 Section: Daily Dispatches8:53a ET Monday, December 10, 2007
Dear Friend of GATA and Gold:
MineWeb's Dorothy Kosich takes note of GATA's campaign to compel the U.S. Federal Reserve and Treasury Department to disclose documents about swaps of U.S. gold reserves. You can find the MineWeb report here:
http://www.mineweb.com/mineweb/view/mineweb/en/page34?oid=41691&sn=Detail
CHRIS POWELL, Secretary/Treasurer
Blackstone reported assembling China bid for Rio Tinto
Submitted by cpowell on Mon, 2007-12-10 08:50 Section: Daily DispatchesBy David Litterick
The Telegraph, London
Monday, December 10, 2007
http://www.telegraph.co.uk/money/main.jhtml;jsessionid=VNDKSWF4XJY53QFIQ...
Rio Tinto shares climbed in London trading after the Daily Telegraph revealed that private equity firm Blackstone is planning an audacious break-up bid for the miner.
UBS admits $10 billion subprime loss, gets rescue from Singapore
Submitted by cpowell on Mon, 2007-12-10 08:44 Section: Daily DispatchesBy Andrew Hurst
Reuters
Monday,December 10, 2007
http://www.reuters.com/article/ousiv/idUSL1049891520071210
ZURICH, Switzerland -- UBS revealed a $10 billion writedown and an emergency injection of funds from Singapore and the Middle East, making it the biggest victim of the U.S. subprime crisis to date among major European banks.
Brazil plans sovereign wealth fund to counter rising currency
Submitted by cpowell on Sun, 2007-12-09 23:55 Section: Daily DispatchesBy Jonathan Wheatley
Financial Times, London
Sunday, December 9, 2007
http://www.ft.com/cms/s/0/a0a3dcc8-a687-11dc-b1f5-0000779fd2ac.html?ncli...
SAO PAULO, Brazil -- Brazil will create a sovereign wealth fund with the primary aim of intervening in foreign exchange markets to counter the appreciation of Brazil's currency, according to finance minister, Guido Mantega.