Archive for September 29th, 2008

Bonds and Stocks

Back to The Drawing Boards

September 29, 2008

It seems inconceivable that the Congress will not eventually pass a comprehensive plan to promote the recapitalization of financial institutions, ease the pain of debt deleveraging, and restore a better-functioning money market.  But the game of chicken continues, and tomorrow is a day off for lawmakers for the Jewish New Year.  The TARP plan was […] More

Currency Markets in the News

ECB Understated Growth Slowdown

September 29, 2008

The ECB Governing Council meets this Thursday.  Officials have not hinted that a rate cut might be made, so such a move would be a huge surprise to a market that expects to be forewarned ahead of ECB policy changes.   A statement released after policymakers met on September 4th avoided panic, calling the slowdown “an […] More

New Overnight Developments Abroad - Daily Update

New Overnight Developments Abroad: Banking Crisis Slams Into Europe

September 29, 2008

The Benelux governments nationalized Fortis, Belgium’s biggest employers which will sell off AMB Amro.  The British government nationalized the mortgage lender, Bradford and Bingley.  Germany’s Hypo Real Estate in a rescue, too. The third largest Icelandic bank was nationalized.   Money market strains in Europe intensified despite news that U.S. House of Representatives is likely to […] More