Share on Google Plus Share on Twitter Share on Facebook Share on LinkedIn Share on PInterest Share on Fark! Share on Reddit Share on StumbleUpon Tell A Friend 1 (1 Shares)  
Printer Friendly Page Save As Favorite View Favorites View Stats   7 comments

General News

REUTERS reporting emergency trading session opened this afternoon at 2PM

By (about the author)     Permalink       (Page 2 of 2 pages)
Related Topic(s): ; ; ; ; ; ; ; ; ; ; (more...) ; ; ; , Add Tags  (less...) Add to My Group(s)

View Ratings | Rate It

opednews.com

- Advertisement -

Bank of America is also reporting early Sunday evening that it is in talks to purchase Merrill Lynch (NYSE: MER). The company founded in 1914 by Charles E. Merrill occupies all 34 floors of Four World Financial Center in Manhattan. In November of last year, Merrill Lynch announced the write-down of $8.4 billion in loss connected to the American mortgage crisis, and removed Stan O'Neal as CEO.

The bursting housing bubble may not be confined just to the United States: The Australian online reported Monday, September 15, 2008 that "[h]ome building starts have plummeted to their lowest number in a year"....in Australia. "Just 38,348 homes were started in the three months to June, a seasonally-adjusted drop of 3.7 per cent on the March quarter, the Australian Bureau of Statistics said." Shares headed downward on the Sydney All Ordinaries at the opening of trading on Monday.

The financial titans Goldman Sachs Group, Inc. and Morgan Stanley are expected to announce declines in quarterly profits this week according to another news item by the AP.

In an unbelievable deluge of breaking financial news on Sunday evening, other developments, such as the forecast for savings-and-loan giant Washington Mutual remained clouded.

Financial experts expressed further concern on Sunday evening that some traders might take advantage of a "climate of fear" to engage in short selling in an effort to take over other large, vulnerable firms according to a report by Louise Story of the NYT.  Sources noted that some executives pleaded with Paulson, Geithner, and Cox to restore restrictive rules on short selling to minimize hostile overtures when markets resume trading on Monday morning.

REUTERS was reporting just before 8 PM ET that a group of American and foreign bankers were in discussions to create an international fund of as much as $50 billion to shore up the global financial system in light of the troubling economic indicators coming out of the United States. US government officials also were said to be amenable to widening the Federal Reserve's discount lending window to forestall, at least temporarily, further systemic failures.

- Advertisement -

- Advertisement -

Next Page  1  |  2

 

http://www.blogger.com/profile/4236373

Constance Lavender is an HIV-Positive pseudonymous freelance e-journalist from a little isle off the coast of Jersey; New Jersey, that is...

In the Best spirit of Silence Dogood and Benj. Franklin, Ms. Lavender believes that a free (more...)
 

Share on Google Plus Submit to Twitter Add this Page to Facebook! Share on LinkedIn Pin It! Add this Page to Fark! Submit to Reddit Submit to Stumble Upon


Go To Commenting

The views expressed in this article are the sole responsibility of the author and do not necessarily reflect those of this website or its editors.

Writers Guidelines

Contact Author Contact Editor View Authors' Articles
- Advertisement -

Most Popular Articles by this Author:     (View All Most Popular Articles by this Author)

Heterosexism and the African American Community

Stay Tuned...NJ Corruption Probe Extended To Other States

Deviating from the Norm: A Deviant Analysis of Kate Chopin's The Awakening as Coming Out Story

The Hero Myth in Maya Art & Culture

The Hero Cycle in Maya Myth & Culture

Now that Wall Street has been bailed out, where are the rest of US going?

Comments

The time limit for entering new comments on this article has expired.

This limit can be removed. Our paid membership program is designed to give you many benefits, such as removing this time limit. To learn more, please click here.

Comments: Expand   Shrink   Hide  
6 people are discussing this page, with 7 comments
To view all comments:
Expand Comments
(Or you can set your preferences to show all comments, always)

Comment from Ratings:   Maybe I am ratin... by kato krause on Sunday, Sep 14, 2008 at 4:16:59 PM
...a categorical yes. Still, the "extrem... by Constance Lavender on Sunday, Sep 14, 2008 at 5:00:30 PM
Oh never mind. I misread it.  ;) ... by Mark E. Smith on Sunday, Sep 14, 2008 at 4:37:43 PM
...that derivatives are an investment instrument t... by Constance Lavender on Sunday, Sep 14, 2008 at 5:05:00 PM
I'm not a big brain on the subject, but why do... by Patrick Dean on Monday, Sep 15, 2008 at 2:21:31 AM
This Is What Fractional Reserve Banking, Fiat Mone... by Brad Evans on Monday, Sep 15, 2008 at 2:18:13 PM
I am so glad to find out that speculators were men... by Margaret Bassett on Monday, Sep 15, 2008 at 12:59:58 PM