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 [Philadelphia Independent Media Center - Passionate and Accurate Tellings of Truth] You Can't Feel Blue About the Economy If You Want To. There Are No ...: As card after card gets pulled out of that rickety stack—first Bear Stearns, then IndyMac Bank, then Fanny Mae and Freddie Mac, then Lehman Brothers, now perhaps AIG and Washington Mutual, a large savings institution that is on a death watch—at some point those investors and now insurance clients, too, may all decide to take their money and go home, and the whole thing will come crashing down.

 [Sustainabilitank] Economic Collapse and Formaldehy Preserved Sharks. Russia Draws ...: The coming days and weeks - More bank failures.  Government default as well.  Revaluing the currency.  Shortage of fuel, food and jobs.  Otherwise, things are still working as to turning the tap and getting water, throwing the switch to still get electricity, and the various officials and cogs in the machine at their posts.

[Economy-Finance] WaMu shares end 16% higher: Investors may have been appeased by WaMu’s response to the downgrade. The nation’s largest savings-and-loan said the rating agency attributed its action to worsening market conditions, and not to any material change in WaMu’s financial condition.

[Member Posts] Current News and Opinions: Healthcare and the Economy: Content on blogs in My.BarackObama represents the opinions of community members and in no way should be interpreted as endorsed or approved by the campaign.

 [The Resourceful Bear Blog] A Liquidity Event Seems Imminent: These include treasury repo fails in interbank lending, the failure of the insurance company AIG, the level two assets and level three assets at banks and investment bankers, the debt carried off balance sheets at a number of organizations, commercial lending gridlock where companies seeking to refinance debt as it comes due are unable to do so and go out of business, and the dearth of liquidity caused by the impact of FASB 141.

[Economy-Finance] A Lehman ”˜bad bank’ may be good: By selling off the good Lehman to another bank while segregating bad assets - mostly loans and securities tied to the sliding commercial real estate and free-falling residential mortgage markets - officials hope to prevent a fire sale that would further depress prices. That in turn could lead to additional writedowns at other financial firms, which have already taken hundreds of billions of losses and raised a similar amount of new capital.

[saleshq] Clothing Stores Rediscover Boomers: Merrill Lynch, AIG (AIG) and Lehman are just the latest victims of the credit crunch, which has also clobbered mortgage giants Fannie Mae (FNM) and Freddie Mac (FRE), subprime lenders IndyMac Bank and Countrywide Financial, .

 [FilthyRag.com] Black Monday On Wallstreet: Lehman Brothers, burdened by $60 billion in soured real-estate holdings, filed a Chapter 11 bankruptcy petition in U.S. Bankruptcy Court after attempts to rescue the 158-year-old firm failed. Bank of America Corp.

[News Dissector Blog] THE FINANCIAL IMPLOSION STILL IMPLODING: FED FLUMOXED, AIG TEETERS: We find it interesting that the media is ignoring the fact that the Treasury Secretary controlling the bailout of the American financial interest was formerly the head of one of the major money machines: Goldman Sachs, as was his predecessor, Robert Rubin. In other contexts, this would be considered a major conflict especially since Goldman Sachs has a huge interest in the bailout of Fannie and Freddie and far less interest in the success of Lehman Brothers, which Henry Paulson let fail.

 [Greenjunkie's Weblog] McCain Advisor-Economy shows ”˜Accelerating Prosperity”: As of Friday’s close, AIG had a market capitalization of $32.99 billion. AIG generated $33.96 billion in revenue during the first half of 2008, 45 percent less than the $61.8 billion generated during the first half of 2007.

[Intellectual Ore] Wall Street disaster:  Looking back, it’s incredible that things haven’t been worse: the past ten years have seen one (maybe two) catastrophic hurricanes, terrorists flying planes into the WTC and Pentagon, and now a global financial crisis, the effects of which include the dissolution of Bear Stearns, Lehman Brothers, Merrill Lynch, Countrywide Financial, IndyMac, Fannie Mae/Freddie Mac, and countless regional banks.  Will it end?

 [temblors's Bulletins] RE: The Coming Greater Depression: Barclays and Bank of America were considered front-runners to buy Lehman, which is foundering under the weight of $60 billion in soured real estate holdings Insurer AIG, hit hard by deterioration in the credit markets, said Sunday it is .

 [TIM BLAIR: BLOGGER SEATTLE, WASHINGTON US http://timblair.spaces.live.com SEATTLE-TACOMA-KING COUNTY-WASHINGTON NEWS ALERTS!] cbs: As consumer credit deteriorates, the bank has seen its profits decline, and the company is still in the midst of absorbing the embattled mortgage lender Countrywide Financial, which it acquired in January.Insurer AIG, hit hard by deterioration in the credit markets, said Sunday it is reviewing its operations and discussing possible options with outside parties to improve its business after a week when its stock dropped 45 percent amid concerns about the company's financial underpinnings. It was working with New York Insurance Superintendent Eric Dinallo and a representative of the governor's office through the weekend to craft a solution that protects policyholders, according to Dinallo's spokesman David Neustadt.

[Minnesota Independent: News. Politics. Media.] Subprime casualties: 283 lenders have collapsed, and more are to come: in seriously unstable companies Fannie Mae and Freddie Mac, and that the already swelling federal deficit just ballooned further. And it means that those responsible for the crisis, voracious executives and directors whose unstoppable appetite for profits caused the biggest financial crisis since the Great Depression, get off easy why the American public pays for their greed affair.

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