Asian Central Banks Intervene as Dollar Tumbles: The U.S. dollar continued to tumble against most Asian currencies Thursday, prompting a wave of foreign-exchange intervention by central banks in South Korea, Taiwan, the Philippines and Thailand seeking to limit damage to their export industries.
Budget deficit hit record $1.4T in 2009: The federal budget deficit tripled to a record $1.4 trillion for the 2009 fiscal year that ended last week, congressional analysts said Wednesday.
Treasuries Fall After Weaker-Than-Forecast Demand at Bond Sale: Treasuries declined after the government’s $12 billion auction of 30-year bonds drew weaker- than-forecast demand.
34 banks don't pay their quarterly TARP dividends: In a sign that more banks are under great pressure from the recession, 34 financial institutions did not pay their quarterly dividends in August to the Treasury on funds obtained under the Troubled Asset Relief Fund (TARP). The number almost doubled from 19 in May when payments were last made, and also raised questions about Treasury's judgment in approving these banks as "healthy,"
Fed Ratchets Up Warnings on Commercial Real Estate Debt: Two officials from the U.S. Federal Reserve issued strong signals this week that the central bank is very concerned over the banking industry's exposure to commercial real estate loans and considers it to be a major stumbling block to the road to economic recovery.
Bankruptcy Filings Spiking: Chapter 7 Booming : It is interesting what passes for good news in today’s market. For example, Alcoa announced a profit for the third quarter. Good news right? Well if you look into the details the company has cut 18,000 jobs in the 12 months ending on June 30th and also planned on cutting an additional $2.4 billion in costs. In this economic crisis people need to look at the details before assuming something is just good news.
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