News round-up: 7 Aug 2008

Economists: Most Stimulus Went Into Savings – Real Time Economics (if the government is looking to goose the economy, maybe infrastructure projects would be more effective)

Should the Fed Announce Inflation Targets? – Real Time Economics (Here’s what policy directors from the McCain and Obama camps say)

AIG’s Bad Day – MarketBeat (AIG took a beating after massive credit writedowns. Thank you, sir. May I have another.)

How much further should the dollar fall? – Vox (My Cliff notes: Europe’s overvalued and Asia is undervalued)

Mexican Peso Datapoint of the Day – Market Movers (Mexico kicking gringo butt)

Credit Suisse Sued Over Auction-Rate Securities – Bloomberg (Get on the Auction-rate securities lawsuit gravy train now. All aboard!)

Halifax piles more misery on housing market – Times Online

Bank of England holds interest rate at 5% – Times Online (No more rate hikes here)

Connecticut Joins Other States in Suing Countrywide – DealBook (Crazy-like-a-fox BOA took on this train wreck. Good luck.)

Canadian housing enters a ‘sustained downturn’ – National Post