Global Bailout Linkfest

Lots of news breaking this weekend on the coordinated, global bank recapitalization and bailout. Here are a few headlines

(use the comments section to add any I missed . . .)

Crisis Response

• EU Nations Commit 1.3 Trillion Euros to Bank Bailouts  (Bloomberg)

• Paulson to Meet With U.S. Bank Chiefs  (WSJ)

• RBS, HBOS, Lloyds Get 37 Billion-Pound U.K. Bailout (Bloomberg)

• EU Writes Menu of Options (WSJ)

• Fed Says ECB, Others to Offer Unlimited Dollar Funds (Bloomberg)   

• German Bailout Likely to Be Over $400 Billion (WSJ)

• Ireland guarantees six banks’ deposits (FT)

• IMF Speeds Access to Funds as Emerging Markets Buckle (Bloomberg)

• UK banks thrown £400bn lifeline (FT)

• Australia Guarantees of Deposits, Promises Funds (WSJ)

• White House Overhauling Rescue Plan (NYT)

• Europe Vows Bank Support, Bids to Stop Financial Rot (Bloomberg)   

• Despite New Policies, Worse Crisis (Barron’s)

• Morgan may benefit from latest Treasury plans (Marketwatch)

• Fannie, Freddie to Buy $40 Billion a Month of Troubled Assets (Bloomberg)

• Paulson Says Will Buy Bank Equity `Soon as We Can‘  (Bloomberg)

• World’s Financial Leaders Vow to Unite (WSJ) 

• IMF in global ‘meltdown’ warning (BBC)

• G7 outlines broad but vague plan to combat crisis  (Marketwatch) 

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Good Advice

• Gordon Brown: We must lead the world to financial stability (The Times)

• PAUL VOLCKER: We Have the Tools to Manage the Crisis (WSJ) 

• ALAN S. BLINDER: Got $700 Billion? Sweat the Details (NYT)

• Mankiw: Wanted: A Good Bernanke Speech 

• Roubini: Our Choice   

• Me: Fix the Credit Problem, Not its Symptoms (TBP)

• Luigi Zingales: Plan B

• Willem Buiter: A damp squib from the G-7 in Washington DC (FT)   

• Fixing Housing & Finance: 30/20/10 Proposal (The Big Picture) 

• Why We Should Let Housing Prices Keep Falling (Economix)   

• How To Keep Americans In Their Homes (Forbes)

• How will a capitalization plan actually work? (Marginal Revolution)

• Plan "B"

What has to be the oddest article "fix" article I’ve come across:

• The Financial Crisis: What Would the Talmud Do? (Time) 

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Post Mortems

• The Anatomy of Fear (Newsweek)

• Party Like It’s 1929 (The Big Money)

• U.K. banks may unveil capital plans Monday (Marketwatch)

• EUROPEANS WERE GLOATING ABOUT THE AMERICAN FINANCIAL CRISIS. NOT ANYMORE (Slate)

• U.S. Missteps Are Evident, but Europe Is Implicated (NYT)

• Why do stocks keep falling? The experts weigh in (USA TODAY)

• Cost of U.S. Crisis Action Grows, Along With Debt (Bloomberg)

• Joseph Stiglitz: "Are Economists to Blame for the Crisis?" (Video)

• Not So Wonderful Now: Looking for someone to blame in the worsening crisis? Let’s go back to Bedford Falls.  (Washington Post) 

• Is the European Credit Crisis Our Fault? (Slate)

(NOT REALLY—THEY WERE DUMB ENOUGH TO BUY THE MORTGAGES)   

• Regulators in Need of Rehab (NYT)

• Blame Game  (Aleph Blog)

• The Bernanke conundrum (Interfluidity)   

• Radio Economics: Four Fundamental Questions about the Crisis (podcast)

–Judge Richard Posner
–Dr Mark Thoma
–Barry Ritholtz

• HBOS Crisis Nearly Wiped Out Virgin Airlines (Sky News)   

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Collateral Damage

• America the Banana Republic (Vanity Fair)

• Iceland seizes Kaupthing as meltdown continues (Times)

 

• A Potential Merger Weighs on Detroit (NYT)

• Morgan Stanley Climbs in Germany on Mitsubishi UFJ Discussions (Bloomberg)

• G.M. and Chrysler Explore Merger (NYT)

• GM Approached Ford About Merger (WSJ)

• Down in the Valley (Newsweek)

• Is That the Sound of the Silicon Valley Web 2.0 Bubble Bursting? (Business Week)   

• More Failed Bank Information (FDIC)

• How high is financial risk today? (MacroBlog)

• Iceland PM asks public not to take out lots of cash (Reuters)

 

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Trading & Markets

• Worst. Week. Ever.

• History Provides Perspective Amid Carnage (WSJ)

• Closer to the Bottom (Barron’s)

• Those With Sense of History May Find It’s Time to Invest (NYT)

• How Oversold? Very Oversold. (MarketBeat)

• SPX Comparison: 1982-87 vs 2002-08

• George Soros on Markets (Video)

• 10 Bullish Charts, Signals, Indicators (TBP)

• What History Tells Us About the Market (WSJ)

• How Cheap Are Stocks? (Economix)

• The Dow’s Worst Week Ever (Barron’s)

• Five Days, 1900 Points, and No Solution (MarketBeat)

• The Business Panic of 33 A.D.

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Related Stupidity

• SEC Announces Extension of Emergency Short Selling Orders and Related
Action    

• Failing Lehman in $100m payout plan
(The Times) Lehman board signed off on more than $100m in
payouts to five top executives just three days before the bank went
bankrupt.

• Just when you thought our leaders couldn’t possibly get any dumber, Doug Kass passes along this rumor: "The Administration/Treasury is actively considering the closing of the U.S. Stock Market to allow for a "time out" and for further economic moves to be finalized."  Welcome to Soviet Union!

That’s all from a gorgeous Fall weekend, where we will be tuned into the latest developments unfolding in the credit crisis.

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