UK unemployment soars at fastest rate since 1992
See my chart below....
Bank of England extends credit-crunch facility for banks
I thought I heard Mr. King say last week that the Special Liquidity Scheme would be closed in October. The Bank of England has extended it to January.
With HBOS under renewed attack, forced takeover may be the solution
From Jeremy Warner of the independent. I think HBOS are ahead of you, Jeremy.
Investors buy government bonds on recession fears
"Fund managers moved to overweight on government bonds for the first time in at least 10 years as recession fears replace inflation concerns, prompting fear trade into safe-haven assets, a Merrill Lynch poll showed on Wednesday."
Our (Irish) banks bobbing in debt-infested waters
"Ireland's banks, for the moment, protest their resilience to the global forces that have wreaked havoc on Wall Street. AIB had the temerity to raise its interim dividend during the summer, a move that was designed to show the financial markets how robust it was. The truth, however, is more difficult to discern."
Fire sale threat hangs over Spanish stakeholdings
With everything else going on, I try to not forget about the Spanish housing catastrophe - the "mujer" of all bubbles.
Fed keeps rates fixed.
One small mercy....
AIG reaches the end of the line
Well worth reading, and not just because I get a mention.....
Two US senators talking
Senator Gregg: “I don’t see any shoes out there that meet the standards of Freddie Mac, Fannie Mae or AIG.
Senator Dodd: “I agree with that.”
NPR: "Meaning there won't be another huge huge bailout of this kind? You don't see one on the horizon?
Gregg: “I don’t see any entities out there that appear to be in trouble that meet this type of standard--that they would melt down the entire system if they went under.”
Dodd: "Some banks. Some banks, some regional banks, but nothing of the size of AIG, Lehman Brothers or Merrill Lynch."