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Odds 'n Sods:
Cheryl, our Economic Editor, sent us these: Congress
Restarts Troubled Bailout Talks -- Stocks
Mostly Decline As Investors Remain Tense Over Bailout -- WaMu
Becomes Biggest Bank To Fail In US History -- Wachovia
In Huge Mortgage Mess -- UK
Banks May Get $180bn From US Bailout -- Wachovia
Shares Begin Dive After WaMu Death -- JPMorgan
Buys WaMu For A Mere $1.9 Billion ("To put the size of
WaMu in context, its assets are equal to about two-thirds of the combined book
value assets of all 747 failed thrifts that were sold
off by the Resolution Trust Corp. - the former government body that handled
the S&L crisis from 1989 through 1995.") -- Wall
Street Should Be Looking For Bail, Not A Bailout -- Risk
Of Paulson Failing Has Markets Frozen In Fear -- Money
Market Conditions Deteriorate Further -- Central
Banks Take Action. -- Withdrawals
by customers ultimately sank WaMu . And here is one more from Jonathan
Prynn, of England's Evening Standard,
courtesy of Dan S.: Stand
by for Black Monday
o o
o
Et tu, WaMu? WaMu
Failed, Seized By FDIC, Bought By JPMorgan."The Army Aviator" notes:
"That was a good call that Jim
Sinclair made as to how it's amazing that
the largest bank failure (WaMu) [occurred on a Thursday] just when they are
trying to get that
bailout Schumer passed--instead of announcing it at the usual Friday
after the market closings. Gosh, the crooks aren't even good crooks.
Sloppy, sloppy, sloppy."
o o o
Budget crunch: Palm
Bay, Florida Police May Stop Responding To Some Crimes. (A hat tip to
Eric for the link.)
o o o
More about the gasoline shortage in the southeast: Tempers
flare at pumps and Gas
Shortage In the South Creates Panic, Long Lines
o o o
Katya was the first of several readers that sent us this: Gold
coin sales halted after retail rush
