Wells Fargo to buy Wachovia

The deal everyone first expected to happen is now likely to proceed. Wells Fargo is set to buy Wachovia. Earlier this week, we heard that Wachovia was to be acquired by Citigroup, the beleaguered corporate behemoth that has written down…

Payrolls fall by 159,000 in U.S.

The unemployment data came out for the month of September 2008 in the U.S. Payrolls fell by 159,000, but the unemployment rate remained the same at 6.1%. The data are consistent with recent weekly unemployment claims data, which point to…

News round-up: 2 Oct 2008

With the Economic Patriot Act past the Senate - including hundreds of billions in pork barrel - sweeteners, it's time to focus in a little on politics. I'll lead off the round-up there, trying to keep it fair despite my obvious…

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