Markets
- Rand down 10% in five days – Fin24 (It’s not just major currencies)
- Party crashers: China’s stock markets dive as Games begin – LA Times
- Auction-Rate Buybacks: The Bottom Line – Deal Book
Politics
- Georgia says Russia at war – FT (This is a very big deal. It’s hard to say what the economic implications will be )
Credit
- Wachovia To Exit Retail Mortgages in 19 States: Report – Housing Wire (Is Wachovia closing the barn door after the horse bolted or contracting credit to protect against future losses?)
- Ford Credit to Cut Back On Leasing, Citing Risks – WSJ (Same question here as with Wachovia)
Earnings
- Lenovo Strengthens its Status as a Global Brand with Strong Sales in China and Europe – Money Morning (IBM used to own this business)
- MBIA Posts “Phantom Profit” as CDS Spreads Blow Up – Housing Wire
- Buffett Builds Berkshire Holdings as Earnings Decline – Bloomberg
Economic opinion
- Americans need radical surgery to revive country’s economy – Telegraph
- Feldstein: A Tale of Two Monetary Policies – Economist’s View
- Cutting Oil Exporters’ Taxes via Lower Oil – Infectious Greed (Interesting take on the fall in oil)
- Please, Mr Greenspan, Shut Up – Market Movers
- The End of Credit Card Consumerism – U.S. News
Odds and Ends
- American Airlines penalises frequent fliers – Telegraph (Paying to use frequent flier miles? What a rip)
- Soundgarden Inadvertently Reunites At Area Cinnabon – The Onion (Grunge is back, dude)
- Wikipedians Leave Cyberspace, Meet in Egypt – WSJ