Wikinvest Wire

Wednesday morning links

Wednesday, October 15, 2008

TOP STORIES
Retail sales plunge 1.2 percent in September - AP
Drama Behind a $250 Billion Banking Deal - NY Times
Pimco Tapped to Manage Fed's CPFF - WSJ
Greenspan Age of Turbulence Is Getting Asia Down - Bloomberg
Budget deficit in 2008 surges to all-time high - AP
US fires bazooka to end banking crisis - Telegraph
It all went wrong when we left the gold standard - The Independent

MARKETS/INVESTING
Oil at 13 month low on economic weakness, ebbing demand - AP
Gold climbs as equity markets fall further - Reuters
U.S. Stock Futures Extend Drop on Retail, Manufacturing Data - Bloomberg

ECONOMY
Retail sales tumble 1.2% in September - MarketWatch
Wholesale prices drop for second straight month - AP
Democrats Mull $300 Billion Stimulus - WSJ
Gas prices fall 33 cents in largest weekly price drop ever - Reuters

HOUSING
No Quick Fix for Housing Prices - WSJ
Reverse mortgages set record, new loan limit eyed - Reuters
Victorville, California: A desert boom town goes bust - Guardian

FED/TREASURY/BANKING
Central Banks Reconsider Doctrine of Preemption - Bloomberg
Fed's Bullard: Don't rely on rates to fight crisis - Reuters
Fed officials see recession risk but no rate cut need - Reuters
Paulson Lacks Leverage to Compel Banks to Put New Cash to Work - Bloomberg

INTERNATIONAL
UK unemployment rises as downturn deepens - Telegraph
ECB Leads Push to Flood Banks With Unlimited Dollars - Bloomberg
Britain calls for global finance summit - AP
Trichet Calls for Return to the `Discipline' of Bretton Woods - Bloomberg
Crisis fuels rebound for Gordon Brown - MarketWatch
Brazil market to grow by much less in 2009 - Reuters
Financial crisis: World round-up - BBC
Icelandic Stocks Drop 77% as Trading Resumes After 3-Day Halt - Bloomberg

INTERESTING
Wall Street in the News — and Still Set for Theaters, Too - NY Times
Wal-Mart, Giant bottled water shows more contamination - USA Today
At Indian Call Centers, Another View of U.S - Washington Post

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