Morning News Dump

Monday, September 15, 2008 | 05:55 AM

I hope y'all got a good night sleep, cause today is going to be a busy day. Here's a quick snap of what happened why you were slumbering:

Futures trading: Dow off 375, S&P500 off 53, Nasdaq off 55; Oil is down to $95, Gold up $15.

Morning Headlines
Lehman Files for Biggest Bankruptcy as Suitors Balk (Bloomberg) 
Ultimatum by Paulson Sparked Frantic End  (WSJ)
What, No Lehman Aid?  (Newsweek)
• 'Tectonic' Shift on Wall Street as Lehman Fails, Merrill Sold  (Bloomberg)
After Frantic Day, Wall St. Banks Falter (NYT)
Lehman plans to file for bankruptcy protection (Marketwatch)

Wall Street crisis: Is this the death knell for derivatives? (Guardian)
The Japan Lesson: U.S. Must Own Up To Its Bank Crisis (WSJ)
Federal Reserve Offers No Cash but Loosens Standards on Emergency Loans  (NYT)
Banks roll out $70 billion loan program (AP/Yahoo)
World’s biggest banks join forces (FT)

Where's The Ref? (Forbes)
Lehman's dying hours (Fortune)
Financial turmoil as top bank collapses (CNN)
Fed Expands Lending Facilities in Bid for Stability (WSJ)
5 Days of Pressure, Fear and Ultimately, Failure (NYT)

A.I.G. Seeks $40 Billion in Fed Aid to Survive (NYT Dealbook)
Jittery Road Ahead (NYT) 
Bank of America to Buy Merrill for $50 Billion as Crisis Widens (Bloomberg) 
Goldman, Morgan Grasp at Bitter Prize (WSJ)
China Cuts 1-Year Lending Rate; Reduces Lending Curb (Bloomberg) 
Banks Fear Next Move by Shorts (NYT)
A Chaotic Sunday Opens Wall Street's Week (WSJ)


Intrade now has futures trading where you can bet on what US Bank will fail next; Incidentally, the US also has a similar financial mechanism -- they are called Puts.


Related Blog Posts
Data Factoid: Securities Industry Employment  (Infectious Greed)
WaMu Failure Could Trigger Extension of Deposit Guarantees (Naked Capitalism)
Greenspan's Black Swan (iTulip)
A Sunday Without a Bailout? How Novel ! (Big Picture)
Investing in Financial Stocks is Tough (Aleph Blog)
Is a Volatility ETF a Good Idea?  (Condor Options)
The end of banking as we know it – and another US rate cut  (Eurointelligence)
Disaster in the Derivatives Market Redux (Financial Armegeddon)   
Why Lehman Brothers Is Not Bear Stearns (MarketBeat)
Fed's PDCF, TSLF Pawnshop Limits Increased; Section 23A Rules Violated (Global EconomicTrend Analysis) 
Lehman 2007 Bonuses? (Credit Slips)
If Lehman collapses expect a run on all of the other broker dealers and the collapse of the shadow banking system (RGE)
Blame the Short-Sellers  (Infectious Greed)
How Washington Failed to Rein In Fannie, Freddie (Big Picture)

Monday, September 15, 2008 | 05:55 AM | Permalink | Comments (20) | TrackBack (0) add to | digg digg this! | technorati add to technorati | email email this post



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how can the sp500 only be down some 20% when we have had so many banks go bellyup... This weekend almost 3 large banks went under,, (leh) and AIG, MER ( the latter were "saved". last week. FRE, FNM... Whats up with sp500. How can it only be down small 20%..

Posted by: peter Ibsen | Sep 15, 2008 6:13:07 AM

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