@MediaMonarchy, #Monarchives

economic meltdown just heating up

wholesale inflation is worst in 27 years...
stocks drop again amid fears about financials...
fannie-freddie lifeline puts taxpayers on the hook...
analyst warns on wachovia amid more bank worries...
bernanke signals growth risks & intensified' inflation danger...
citigroup shares drop to lowest price since 1998...

dollar freefall: new record low
from bloomberg: The dollar declined to a record low against the euro on speculation Federal Reserve Chairman Ben S. Bernanke and Treasury Secretary Henry Paulson will say credit- market losses are hurting U.S. economic growth.

update1: cops threaten to arrest angry indymac customers
cops threaten to arrest angry indymac customersfrom daily news: Police ordered angry customers lined up outside an IndyMac Bank branch to remain calm or face arrest Tuesday as they tried to pull their money on the second day of the failed institution’s federal takeover. At least three police squad cars showed up early Tuesday as tensions rose outside the San Fernando Valley branch of Pasadena-based IndyMac.

update2: washington mutual says it is 'well capitalized'
from bloomberg: Washington Mutual Inc., after dropping the most since its initial public offering in 1983, said it is "well capitalized" with more than $40 billion in liquidity and $150 billion in retail deposits. The company's tangible equity to tangible assets ratio is 7.8 percent as of June 30, Seattle-based Washington Mutual said in a Business Wire statement after the close of regular trading. Details will be provided on its July 22 earnings call, the company said.

  1. […] economic meltdown just heating up, my bank is about to fail. how about yours?, wamu gets $7b infusion, cuts jobs, sees big loss & […]

#PumpUpThaVolume: October 29, 2020