Links and Reading for January 28th
January 29, 2009 12:00 am
Some of the more interesting and important items for January 28th :
- U.S. Injects $1 Billion Into Credit Unions as Losses From Mortgages Mount – Where is all the money coming from? Ooohhh this is going to hurt!
- Chinese Premier Blames Recession on U.S. Actions – WSJ.com – Chinese Premier Wen Jiabao squarely blamed the U.S.-led financial system for the world's deepening economic slump, in the most public indication yet of discord between the U.S. and its largest creditor.
Leaders in China, the world's third-largest economy, have been surprised and upset over how much the problems of the U.S. financial sector have hurt China's holdings. In response, Beijing is re-examining its U.S. investments, say people familiar with the government's thinking.
- Fed readies plan to help consumers get more credit-card debt – I want mine!
- Low yields force Treasury money-market funds to bar new investors – This is really interesting. Will they open back up if/when the rates come back??? Investors not have limited choices to protect their cash brokerage positions.
- Treasury Money Market Funds Close Doors – Treasury money market funds have closed to new investment due to low yields that can't cover expenses.
- Consumer Confidence Drifting – Consumer's have once again expressed their lack of confidence in the market.