Goldman Sachs valuation update: Buffet's strategic investment and public offering |
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Written by Reggie Middleton
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Thursday, 25 September 2008 |
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First order of the day, news items:
A
rescue for the U.S. financial system unraveled late Thursday amid
accusations Republican presidential candidate John McCain scuppered the
deal. Wamu's demise will further devalue mortgage assets. I don't care how much the government buys, we (the tax payer) don't have enough wealth to synthetically support this derivative market (yes, MBS are derivatives).
SYDNEY/SINGAPORE (Reuters) - Central banks across Asia
scrambled on Friday to meet a desperate demand for cash, both in their own
currencies and the U.S. dollar, as the White House's $700 billion bailout plan
ran into unexpected roadblocks. The asset securitization crisis is contagious... http://www.reuters.com/article/ousiv/idUSTRE48P11E20080926?sp=true
Fed keeps banks afloat as money market crisis deepens - what banks do you think they are referring to??? Goldman Sachs and Morgan Stanley. The run on the prime brokerage accounts of Morgan Stanley have been confirmed in both London and NY.
Flight
from Morgan Stanley brokerage
Financial Times -
London,England,UK
By James Mackintosh in London Morgan Stanley lost close to a third of
assets in its prime brokerage last week, amounting to hundreds of billions of
dollars, ...
Goldman
and Morgan Stanley Help Drive Discount Window Lending to a ...
By Jesse(Jesse) Scroll down to the excerpt from American Banker: Discount Window Borrowing Jumps to $262 Billion By Steven Sloan
September 26, 2008 WASHINGTON — During another turbulent week on Wall Street,
lending through the Federal Reserve Board's discount window skyrocketed to ...
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