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Daily Dispatches
Fed optimistic it has bought time and can avoid rate cut
Submitted by cpowell on Wed, 2007-08-22 17:19 Section: Daily DispatchesBy Mark Felsenthal
Reuters
Wednesday, August 22, 2007
http://www.reuters.com/article/ousiv/idUSN2234990120070822
WASHINGTON -- The Federal Reserve is hopeful that it has bought enough time with moves to soothe jittery credit markets to hold off any cut to the benchmark federal funds rate before a September meeting, if any easing is necessary at all.
Fed's strategy of boosting liquidity survives another day
Submitted by cpowell on Wed, 2007-08-22 17:06 Section: Daily DispatchesBy Craig Torres
Bloomberg News Service
Wednesday, August 22, 2007
http://www.bloomberg.com/apps/news?pid=20601109&sid=aS.2chxvsOi8&refer=home
The Federal Reserve's strategy of increasing liquidity rather than resorting to a cut in the benchmark interest rate survived a third day.
Banks make great show of borrowing at Fed's discount window
Submitted by cpowell on Wed, 2007-08-22 16:53 Section: Daily DispatchesFour Major Banks Borrow
from Fed's Discount Window
By Adam Schreck
Associated Press
via Yahoo News
Wednesday, August 22, 2007
http://news.yahoo.com/s/ap/20070822/ap_on_bi_ge/banks_fed_window;_ylt=Ag...
Jonathan Weil: Wells Fargo gorges on mark-to-make-believe gains
Submitted by cpowell on Wed, 2007-08-22 16:46 Section: Daily DispatchesBy Jonathan Weil
Bloomberg News Service
Wednesday, August 22, 2007
http://www.bloomberg.com/apps/news?pid=newsarchive&sid=aY8m0nta94GA
There's the kind of earnings investors can take to the bank. And then there's the kind the bank can show to investors.
Word to Wells Fargo & Co. investors: Beware the second kind.
Dodd denies 'political pressure' but still expects rate cut
Submitted by cpowell on Tue, 2007-08-21 17:25 Section: Daily DispatchesDodd Denies 'Political Pressure' on Rates
By Edward Luce and Krishna Guha
Financial Times, London
Tuesday, August 21, 2007
http://www.ft.com/cms/s/0/0a76eab0-5010-11dc-a6b0-0000779fd2ac.html
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.
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