Politicians' uncontrolled deficit spending: Kinda "like a crack addict ... - San Francisco Gate

This just in from Chicken Little: "Deficit spending - it's all the rage! But is something wrong with this picture?" The sky-is-falling-in gang notes that, against the backdrop of the still-unfolding, still-very-serious, worldwide financial crisis ...

UPDATE 1-IMF ready to give $14 bln to Ukraine-president's office - Reuters

KIEV, Oct 16 (Reuters) - The International Monetary Fund is prepared to give Ukraine credit of $14 billion to help stabilise the country's financial system, a spokeswoman for President Viktor Yushchenko said on Friday. An IMF mission is in Ukraine to ...

Despite bank rescue plans, recession looms over markets: analysts - Economic Times

LONDON: The renewed plunge on global stock markets is not a reflection on multi-trillion dollar bank rescue plans, but of wider fears of a worldwide recession hitting jobs and livelihoods, analysts said Thursday. After a brief respite, stock markets ...

Stocks end higher as market assesses economy - AZCentral.com

NEW YORK — Wall Street remained tense Thursday, swinging between sharp gains and losses as investors examined mixed economic and earnings data for clues about the health of the economy. The Dow Jones industrials, down 380 at one point, rose more ...

Rates edge lower, but commercial paper drops again - Washington Post

NEW YORK -- Several key lending rates declined again Thursday, but another weekly drop in the amount of commercial paper in the market showed that the credit markets remain under stress. The Federal Reserve said the amount of commercial paper ...

UPDATE 2-Mexico's Cemex to cut costs, jobs as crisis hits - Reuters

MONTERREY, Mexico, Oct 16 (Reuters) - Mexico's Cemex, the world's No. 3 cement maker, will cut costs and jobs as it struggles with the severe U.S. housing crisis and global market volatility that is raising its financing costs. Facing slumping ...

UPDATE 2-Ukraine PM says IMF proposes credit, opposes poll - Forbes

KIEV, Oct 16 (Reuters) - The IMF may lend Ukraine a sum ranging from $3-14 billion to shore up its financial system but has made any credit contingent on calling off a snap election, Prime Minister Yulia Tymoshenko said on Thursday. The IMF office in ...

Merrill 3Q loss widens on mortgage-related charges - Forbes

Investment bank Merrill Lynch & Co. said Thursday its third-quarter loss widened as it took more than $12 billion in charges and write-downs tied to the sale of mortgage investments and fallout from the continued credit crisis. Not only did Merrill ...

Wells has solid quarter, but profit down 25% - San Francisco Gate

Thursday, October 16, 2008 (10-15) 16:56 PDT -- Wells Fargo & Co.'s third-quarter profit dropped by nearly 25 percent as the San Francisco bank wrote down investments in troubled financial companies and boosted reserves for credit losses, but the ...

Bracing For A Long Winter - Forbes

The word from Silicon Valley: Brace yourself for more bad news. The message is resonating ominously through the Valley. Latest news bulletins: On Wednesday, the chief executive of Cadence Design said he was stepping down, along with his four top ...

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