Today was an up day on Wall Street. After a day of untold carnage and pain in markets around the globe from Tokyo to London to New York and back again, we seem to have found a relief rally.
There is still much work to be done, but enjoy the moment! Below are a few posts and articles you might like to read.
Palin and the Supreme Court – Political Animal (I can’t get enough of her, honestly)
LIBOR Hits All-time High of 6.88% – Calculated Risk
U.S. recession would drag Canadian housing market lower: economist – Globe & Mail
Ireland’s bank guarantee could be model for other countries– Irish Independent (why didn’t Paulson try this?)
On Dumping Palin – FiveThirtyEight.com (McCain’s not going to dump Palin, so stop wishing)
ITV job toll rises to 1,000 as new cuts bite – Times Online (jobs, jobs, jobs)
UniCredit Plunges for Second Day on Rights Offering Concern – Bloomberg (The carnage is not over in Europe)
India Reassures ICICI Depositors – WSJ
A.I.G.’s Bailout Terms Revealed – Deal Book (this is a good one.)
Dead-end job? – BBC News (Apparently, Indian call centres are as bad for employees as the are for customers)
The rise of Spain’s Santander – Guardian (This Spanish bank seems to be the JPMorgan of Europe – very well run)
Huntsman rallies as judge holds Hexion to $6.5 billion merger – NY Times (These private equity guys tried to reneg. Not so fast)
Creating a great depression – Martin Hutchinson, Asia Times (This one is right on the money. Not very nice words about McCain or Obama, though)
Mark-to-market accounting – FT Lex (I’ll have more to say about this myself. But The FT’s take is pretty good.)