Cheryl, our Economic Editor, sent us these: Congress Restarts Troubled Bailout Talks — Stocks Mostly Decline As Investors Remain Tense Over Bailout — WaMu Becomes Biggest Bank To Fail In US History — Wachovia In Huge Mortgage Mess — UK Banks May Get $180bn From US Bailout — Wachovia Shares Begin Dive After WaMu Death — JPMorgan Buys WaMu For A Mere $1.9 Billion (“To put the size of WaMu in context, its assets are equal to about two-thirds of the combined book value assets of all 747 failed thrifts that were sold off by the Resolution Trust Corp. – the former government body that handled the S&L crisis from 1989 through 1995.”) — Wall Street Should Be Looking For Bail, Not A Bailout — Risk Of Paulson Failing Has Markets Frozen In Fear — Money Market Conditions Deteriorate Further — Central Banks Take Action. — Withdrawals by customers ultimately sank WaMu . And here is one more from Jonathan Prynn, of England’s Evening Standard, courtesy of Dan S.: Stand by for Black Monday
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Et tu, WaMu? WaMu Failed, Seized By FDIC, Bought By JPMorgan.”The Army Aviator” notes: “That was a good call that Jim Sinclair made as to how it’s amazing that the largest bank failure (WaMu) [occurred on a Thursday] just when they are trying to get that bailout Schumer passed–instead of announcing it at the usual Friday after the market closings. Gosh, the crooks aren’t even good crooks. Sloppy, sloppy, sloppy.”
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Budget crunch: Palm Bay, Florida Police May Stop Responding To Some Crimes. (A hat tip to Eric for the link.)
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More about the gasoline shortage in the southeast: Tempers flare at pumps and Gas Shortage In the South Creates Panic, Long Lines
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Katya was the first of several readers that sent us this: Gold coin sales halted after retail rush