T-bill demand ramps up on bailout plan uncertainty

The 3-month Treasury bill traded at 0.45 per cent, meaning that investors in the asset were willing to take a meagre 0.45 per cent payout after three months in return for its security. That yield was down from 0.79 per cent late Tuesday and from 0.88 per cent late Monday.

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Rumors trigger bank run in Hong Kong

Thousands of panicked depositors queued outside Bank of East Asia’s branches across Hong Kong on Wednesday to withdraw their life-savings on rumours that the lender was in financial trouble.

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The War On Subprime Terror

The 78-year old mogul could now be entitled to don a red cape and motivate others such as Bill Gates, Larry Ellison, or the Google Boys to follow his altruistic and patriotic example and put some of their fortune into the very economy that has enabled them to become who they are. Overseas equity and commodity markets reacted as one would expect to the news.

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Back from the dead, Tokyo banks buy into Wall Street

Just a few years ago, Japan’s big banks teetered on the brink of collapse and came to symbolize the moribund state of the world’s No.2 economy.

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Goldman to Raise $7.5 Billion From Berkshire, Public

 Goldman Sachs Group Inc. will raise at least $7.5 billion from Warren Buffett’s Berkshire Hathaway Inc. and public investors in a bid to quell concerns that pushed up the Wall Street firm’s borrowing costs and hurt its stock.

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FBI launches probe into Wall Street meltdown

 The U.S. Federal Bureau of Investigation is looking at potential fraud at four failed financial institutions whose problems helped prompt Washington’s controversial $700-billion (U.S.) mortgage-bailout plan: mortgage lenders Fannie Mae and Freddie Mac, insurer American International Group Inc. and investment bank Lehman Brothers.

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Iranian president blames US for market collapse

Iran’s president blamed U.S. military interventions around the world in part for the collapse of global financial markets ahead of his speech Tuesday to the U.N. General Assembly.

President Mahmoud Ahmadinejad also said the campaign against his country’s nuclear program was solely due to the Bush administration “and a couple of their European friends.”

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Retirees Filling the Front Line in Market Fears

Older Americans with investments are among the hardest hit by the turmoil in the financial markets and have the least opportunity to recover.

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The End of Wall Street

“The world had changed,” said the Morgan Stanley spokesperson yesterday, and you can mark that down as the understatement of the year.

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Russian stocks fall, bank outlook dims

Russian stocks were buffeted Tuesday by turbulence from a dismal U.S. trading session as the Standard & Poor’s ratings agency lowered the long-term outlook for several small-sized Russian banks, including a bank owned one of the country’s richest men.

The MICEX, where most trading takes place, dropped 3.1 percent to close at 1,071.2 points, while the dollar-denominated RTS shed 2.9 percent to fall to 1272.1 points.

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