You have Freep mail................
I have been trying to connect all this stock market stuff to terrorism. ANNNND I can’t.
Looks like the carpetbagger’s of old have sold the global market into disaster.
Somebody who originated these sub-prime loans and then sold them to the global market is living the high life.
Debt crunch puts mega-buyouts in jeopardy
Source: latimes.com
URL Source: http://www.latimes.com/business/la-fi-deals20aug20,0,5348704,full.story? coll=la-home-center
Top Swiss banker attacks US lending standards as ‘unbelievable’
Source: http://www.telegraph.co.uk/money/main.jhtml?xml=/money/2007/
URL Source: http://www.telegraph.co.uk/money/main.jhtml? xml=/money/2007/08/20/bcnswiss20.xml
Serivce Problems Mire Wells Fargo(’bank[customers] unable to get cash or use debit cards’)
http://www.forbes.com/feeds/ap/2007/08/20/ap4037360.html
SAN FRANCISCO -
Service problems disabled ATMs and online accounts at Wells Fargo & Co. for at least 24 hours starting Sunday afternoon, leaving some customers of the nation’s fifth largest bank unable to get cash or use debit cards to pay for goods.
San Francisco-based Wells Fargo would not say how many customers or machines were affected but acknowledged that services were down throughout the company - from personal banking and Wells Fargo corporate Web sites and ATMs to the processing of mortgage and student loans.
“Customers may continue to experience transaction difficulties or delays in our stores, at ATMs and at the point-of-sale ... and processing for some mortgage, home equity, student loans and remittances,” Wells Fargo spokeswoman Julia S. Tunis said. “Our systems teams are working to fix those problems and we hope to have all channels fully available soon.”
Although some customers noticed nothing wrong, others complained Monday at several of the bank’s 6,000 branches. Many customers could get cash only if they went into a branch and talked to a teller - but they had no way of getting cash after-hours at ATMs.
Charles Muturi visited a branch in San Francisco’s South of Market district Monday, intending to talk to customer service representatives about getting a home loan. Instead, bank workers told the 41-year-old San Francisco resident they couldn’t process his application because of the service problems, and they asked him to come back Tuesday.
“I can come back tomorrow, but it’s inconvenient,” Muturi grumbled as he left the branch.
Bernanke fears economy will hit brick wall
Source: The Telegraph, London
URL Source: http://www.telegraph.co.uk/money/main.jhtml? xml=/money/2007/08/20/ccview120.xml
Countrywide Said to Begin Layoffs
Source: Biz Yahoo
URL Source: http://biz.yahoo.com/ap/070820/countrywide_mortgages.html? .v=2