Sept 19 Dow UP 368
Sept 18 Dow UP over 400
Sept 17 Dow DOWN 449
Sept 15 Dow DOWN 504 points.
WEEK – DOWN 953
UP 768
Archive for the ‘Economy’ Category
Wall Street
September 20, 2008PAKISTAN STOCKS PLUNGE
July 17, 2008July 17 Bloomberg
Pakistan investors stormed out of the Karachi Stock Exchange, smashed windows after the benchmark index fell for a 15th day. Police surrounded the exchange after hundreds of investors stoned the building. There has been some mismanagement by the authorities. The benchmark Karachi Indexplunged 35 percent since April 18. One Pakistani said he had lost his life savings.
You have planted much but harvested little.
You have food to eat, but not enough to fill you up.
You have wine to drink, but not enough to satisfy your thirst.
Your wages disappear as though you were putting them in pockets with holes!
Haggai 1:6
U.S. Stocks Fall to Lowest in Decade
July 15, 2008July 14 U.S. stocks fell, sending financial shares to their lowest level in a decade, on fears that bank failures will spread. WaMu and Citigroup next?
The factors that affected IndyMac are not isolated, the pressures are evident in other financials. Washington Mutual and National City Corp. tumbled to a 24-year low after collapse of IndyMac. The declines pushed S&P down to a closing level not seen since October 1998. The Dow lost 45.35, or 0.4 percent, to 11,055.19.
The Nasdaq Composite Index slipped 26.21. Bloomberg
PARAMOUNT – Credit crunch hits Hollywood
July 15, 2008July 15 Paramount forced to suspend $450m financing. The credit crunch has hit home in Hollywood after Paramount Pictures was forced to suspend plans for a $450m film financing. They had been working with Deutsche Bank on financing for 30 films, including a new version of Star Trek. bloomberg
Newspapers Going Under
July 15, 2008LA TIMES Publisher David Hiller resigns.
CHICAGO TRIBUNE editor resigns.
The price of liberalism, Godlessness.
Anheuser-Busch $ale
July 13, 2008July 2008
Belgian brewer buys Busch
Anheuser-Busch, the maker of Budweiser, agreed to a takeover by a Belgian brewer, creating a global beer leader and brings to an end one of the most iconic names in American business. Busch accepted a $52 billion takeover offer from InBev. InBev plans to use St. Louis as its North American headquarters
Schumer blamed in collapse of IndyMac
July 13, 2008July 2008
Federal regulators cited NY Sinator Charles Schumer for a run on the bank.
IndyMac is unlikely to be able to meet continued depositors’ demands in the
normal course of business and is therefore unsound. The immediate cause of the
closing was a deposit run that began after a June 26 letter from Senator Charles
Schumer expressing concerns about IndyMac’s viability. In the following 11
business days, depositors withdrew more than $1.3 billion from their accounts.
FDIC shuts down IndyMac bank
July 12, 2008You have planted much but harvested little.
You have food to eat, but not enough to fill you up.
You have wine to drink, but not enough to satisfy your thirst.
Your wages disappear as though you were putting them in pockets with holes!
Haggai 1:6
July 13 – Freddie-Fannie can tap US Treasury – very bad idea!
July 11 IndyMac customers could lose $500 million in uninsured deposits, limited to taking out money via atm, debit card transactions or checks.
IndyMac may be most expensive bank collapse ever.
IndyMac Bank’s assets were seized by federal regulators, failed due to a liquidity crisis.
The operations of the Pasadena, Calif.-based bank were shut down at 3:00 pm.
The FDIC will try to sell IndyMac, but who in their right mind would buy it? Arabs!
Islam has been buying America ever since 911. The bank is the largest regulated
thrift to fail and the second largest financial institution to close in U.S. history.
Shares of Fannie Mae and Freddie Mac, the largest providers of funding for U.S. home
mortgages, closed at their lowest levels since 1992 on concern the companies
need to raise more capital amid larger-than-expected losses. -CNBC
Lehman analyst downgraded CBS, Disney and Time Warner and significantly
reduced its price target on Viacom shares to $32 from $46.
The FDIC has only $52 Billion to insure $4.2 Trillion in Deposits.
I DO SUGGEST KEEPING a GOOD AMOUNT of CASH handy.
DO NOTHINGout of panic. PRAY, then act. BE WISE.
Banks face new world order consolidation. (Reuters, June)
