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November 21, 2008 8:50:36 PM CST


financial markets

financial markets news stories

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Firms Wary of Treasury's Stalled Toxic-Asset Bailout

As Treasury shifts gears from assets to equity stakes, firms shy away

(Newser) - A survey of more than 400 financial institutions found a large percentage are reluctant to participate in the $700 billion bailout program because of confusion, the Wall Street Journal reports. As Treasury hastily shifted gears from the original plan to buy toxic debt to taking equity positions in banks, more than nine in 10 firms said a “lack of clarity” has kept them from participating. More »

Hedge Fund Selloffs Behind Swooning Dow

Investors cashing out
in record numbers to meet obligations

(Newser) - Hedge funds are increasingly to blame for the swooning Dow, the Wall Street Journal reports, as demands from investors to withdraw funds have sparked a securities selling frenzy in recent days. The rush to withdraw comes as investors—endowments and  pension funds as well as wealthy individuals—see other investments shrink and need cash to cover their obligations. More »

More about:  Financial Crisis financial markets Carl Icahn hedge funds securities Citadel Investment Group

As Investors Seek Cover, Central Banks Slash Rates

Seeking to loosen credit, central banks plan another round of cuts

(Newser) - Central banks worldwide are slashing interest rates, attempting to stem the bleeding in financial markets as investors dump holdings, credit remains tight, and currencies spasm in value, the Washington Post reports. The Federal Reserve is set to cut rates for the second time in as many weeks tomorrow, while the EU plans to do the same next week. South Korea cut three-fourths of a point yesterday. More »

Asia, Europe Want Financial Reform Now

Beijing steps up as leaders craft plans to manage economies

(Newser) - Asian and European world leaders joined forces today to call for stricter regulation of world financial markets and a shakeup of the monetary system, the Washington Post reports. The declarations marked the close of a 2-day summit in Beijing attended by more than 40 heads of state. Bailouts in the West are "not enough given the current situation, and more needs to be done," said Chinese Prime Minister Wen Jiabao. More »

More about:  George W. Bush China Nicolas Sarkozy Europe financial markets regulation Asia IMF Wen Jiabao

OPINION

Buffett: I'm Buying American. You Should Be, Too.

When fear is rampant, the markets discount America's future

(Newser) - “I’ve been buying American stocks,” Warren Buffett writes in the New York Times , and he'd like to see a stampede of others following suit. Sure, the financial system is a mess, global economies are faltering, unemployment is rising, and headlines will continue to terrorize markets. But markets will repair themselves, says the Oracle of Omaha, and those who wait for "the comfort of good news" will lose out. More »

More about:  Financial Crisis stocks Warren Buffett America financial markets investing Oracle of Omaha

UPDATED
(AP) - President Bush this morning confirmed the government's $250 billion plan to buy shares in banks, in the latest move to calm the turmoil in the financial markets and stave off a deep recession. Speaking from the Rose Garden after an early-morning meeting with economic advisers, Bush said the move will help restore confidence and "return our economy to the path of growth and prosperity." More »

More about:  George W. Bush Financial Crisis bailout Henry Paulson financial markets Wall Street bailout financial meltdown

OPINION

The Markets
Have Evened Out When ...

Analyst gives four
signs of sanity to scan your tea leaves for

(Newser) - The main thing ailing the credit markets is a crisis of information, writes L. Gordon Crovitz in the Wall Street Journal , so it’ll probably end when we have some. Things may be looking up when… Prices are discovered: Right now, there’s no demand for mortgage-backed securities, and hence no price. When we see some transactions that don’t involve the government, the picture will be clearer. More »

More about:  subprime mortgages mortgage crisis credit market financial markets short selling market

IMF to US: Do Something NOW

Monetary fund chief pressures Congress to pass bailout, Europe to make plans

(Newser) - The US must act swiftly to avoid economic meltdown and Europe's banks need to be ready with emergency plans of their own, IMF's managing director warns. European and Asian markets have bounced back on the prospects of a revived US bailout deal, but JP Morgan analysts warned yesterday that Europe's banks face another $45 billion in losses before the end of the year, the Guardian reports. More »

More about:  Financial Crisis bailout financial markets IMF European markets central bank Dominique Strauss Kahn

UPDATE
(Newser) - Europe markets edged back up after an early drop today as the failure of the US bailout package continued to sap confidence worldwide, Bloomberg reports. Asia's markets went into freefall on opening this morning but gradually recouped some losses on hopes of a fresh deal. The Nikkei index was down nearly 5% before closing 4.12% lower, Reuters reports, while Hong Kong's closed up almost 1%. More »

More about:  Financial Crisis bailout credit crisis Asian markets financial markets central bank

ANALYSIS

 Hedge-Fund Exodus 
 May Add to Woes 

Deadline looms tomorrow for investors to bail from already-struggling market

(Newser) - Hedge funds are bracing for a major test of wills tomorrow, the deadline for investors to withdraw from the funds for the rest of the year, the New York Times reports. A spate of withdrawals could cause a cascade of flight from the $2 trillion industry, which has seen its worst year ever, with the average fund down 10%. More »

More about:  bailout investors financial markets credit market chaos hedge funds

Central Banks Scramble to Feed Cash Into Markets

Biz slows as
bailout talks stall

(Newser) - The world's central banks are frantically spraying money into the economy to prevent it from seizing up as the US bailout package stalls and confidence plummets, Reuters reports. The holdup in Washington has made edgy commercial banks even more inclined to hoard cash and not lend to each other—leaving central banks with little choice but to step in. More »

More about:  Financial Crisis credit crisis Federal Reserve financial markets European Central Bank liquidity Bank of England central bank Libor

 Retirees Hit Hard by Markets 

Their money is in riskier investments these days

(Newser) - Among those hardest hit by the financial crisis are retirees, and they have less chance to recover than their younger counterparts, the New York Times reports. As companies have abandoned fixed pensions for 410(k)s, retirees can lose large percentages of their wealth in a short period. And low-risk investments, like bonds, simply don't offer enough income. More »

More about:  Financial Crisis retirement subprime mortgage crisis financial markets pensions retirees retirement benefits