Global Bailout Linkfest

Sunday, October 12, 2008 | 09:15 AM

Lots of news breaking this weekend on the coordinated, global bank recapitalization and bailout. Here are a few headlines

(use the comments section to add any I missed . . .)

Crisis Response

EU Nations Commit 1.3 Trillion Euros to Bank Bailouts  (Bloomberg)

Paulson to Meet With U.S. Bank Chiefs  (WSJ)

RBS, HBOS, Lloyds Get 37 Billion-Pound U.K. Bailout (Bloomberg)

EU Writes Menu of Options (WSJ)

Fed Says ECB, Others to Offer Unlimited Dollar Funds (Bloomberg)   

German Bailout Likely to Be Over $400 Billion (WSJ)

Ireland guarantees six banks’ deposits (FT)

IMF Speeds Access to Funds as Emerging Markets Buckle (Bloomberg)

UK banks thrown £400bn lifeline (FT)

Australia Guarantees of Deposits, Promises Funds (WSJ)

White House Overhauling Rescue Plan (NYT)

Europe Vows Bank Support, Bids to Stop Financial Rot (Bloomberg)   

Despite New Policies, Worse Crisis (Barron's)

Morgan may benefit from latest Treasury plans (Marketwatch)

Fannie, Freddie to Buy $40 Billion a Month of Troubled Assets (Bloomberg)

Paulson Says Will Buy Bank Equity `Soon as We Can'  (Bloomberg)

World's Financial Leaders Vow to Unite (WSJ) 

IMF in global 'meltdown' warning (BBC)

G7 outlines broad but vague plan to combat crisis  (Marketwatch) 

Good Advice

Gordon Brown: We must lead the world to financial stability (The Times)

• PAUL VOLCKER: We Have the Tools to Manage the Crisis (WSJ) 

• ALAN S. BLINDER: Got $700 Billion? Sweat the Details (NYT)

• Mankiw: Wanted: A Good Bernanke Speech 

• Roubini: Our Choice   

• Me: Fix the Credit Problem, Not its Symptoms (TBP)

• Luigi Zingales: Plan B

• Willem Buiter: A damp squib from the G-7 in Washington DC (FT)   

Fixing Housing & Finance: 30/20/10 Proposal (The Big Picture) 

Why We Should Let Housing Prices Keep Falling (Economix)   

How To Keep Americans In Their Homes (Forbes)

How will a capitalization plan actually work? (Marginal Revolution)

Plan "B"

What has to be the oddest article "fix" article I've come across:

The Financial Crisis: What Would the Talmud Do? (Time) 

Post Mortems

The Anatomy of Fear (Newsweek)

Party Like It's 1929 (The Big Money)

U.K. banks may unveil capital plans Monday (Marketwatch)


U.S. Missteps Are Evident, but Europe Is Implicated (NYT)

Why do stocks keep falling? The experts weigh in (USA TODAY)

Cost of U.S. Crisis Action Grows, Along With Debt (Bloomberg)

• Joseph Stiglitz: "Are Economists to Blame for the Crisis?" (Video)

Not So Wonderful Now: Looking for someone to blame in the worsening crisis? Let's go back to Bedford Falls.  (Washington Post) 

Is the European Credit Crisis Our Fault? (Slate)

Regulators in Need of Rehab (NYT)

Blame Game  (Aleph Blog)

The Bernanke conundrum (Interfluidity)   

• Radio Economics: Four Fundamental Questions about the Crisis (podcast)

-Judge Richard Posner
-Dr Mark Thoma
-Barry Ritholtz

HBOS Crisis Nearly Wiped Out Virgin Airlines (Sky News)   

Collateral Damage

America the Banana Republic (Vanity Fair)

Iceland seizes Kaupthing as meltdown continues (Times)


A Potential Merger Weighs on Detroit (NYT)

Morgan Stanley Climbs in Germany on Mitsubishi UFJ Discussions (Bloomberg)

G.M. and Chrysler Explore Merger (NYT)

GM Approached Ford About Merger (WSJ)

Down in the Valley (Newsweek)

Is That the Sound of the Silicon Valley Web 2.0 Bubble Bursting? (Business Week)   

More Failed Bank Information (FDIC)

How high is financial risk today? (MacroBlog)

Iceland PM asks public not to take out lots of cash (Reuters)


Trading & Markets

Worst. Week. Ever.

History Provides Perspective Amid Carnage (WSJ)

Closer to the Bottom (Barron's)

Those With Sense of History May Find It’s Time to Invest (NYT)

How Oversold? Very Oversold. (MarketBeat)

SPX Comparison: 1982-87 vs 2002-08

George Soros on Markets (Video)

10 Bullish Charts, Signals, Indicators (TBP)

What History Tells Us About the Market (WSJ)

How Cheap Are Stocks? (Economix)

The Dow's Worst Week Ever (Barron's)

Five Days, 1900 Points, and No Solution (MarketBeat)

The Business Panic of 33 A.D.

Related Stupidity

SEC Announces Extension of Emergency Short Selling Orders and Related Action    

Failing Lehman in $100m payout plan (The Times) Lehman board signed off on more than $100m in payouts to five top executives just three days before the bank went bankrupt.

• Just when you thought our leaders couldn't possibly get any dumber, Doug Kass passes along this rumor: "The Administration/Treasury is actively considering the closing of the U.S. Stock Market to allow for a "time out" and for further economic moves to be finalized."  Welcome to Soviet Union!

That's all from a gorgeous Fall weekend, where we will be tuned into the latest developments unfolding in the credit crisis.

Got a comment, suggestion, link idea? Or do you just have something on your mind? The linkfest loves to get email!  If you've got something to say, send email to thebigpicture [AT] optonline [DOT] net.

Sunday, October 12, 2008 | 09:15 AM | Permalink | Comments (35) | TrackBack (0) add to | digg digg this! | technorati add to technorati | email email this post



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How can things be so bad when I am listening to #9 Dream on my radio?

Posted by: Phil Spector of Deflation | Oct 12, 2008 9:28:10 AM

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