RL sent us this hard-hitting piece: The “Mark To Model” Lie
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Just as I predicted, things are looking grim for the hedge funds: Market chaos batters hedge-fund star. By borrowing short and lending long, they are at huge risk when credit markets fluctuate widely. And in a time of financial crisis like this, where liquidity has dried up almost completely, the hedgers will likely fail in large numbers. (A hat tip to Cyberiot for sending the article link.)
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Eric sent us this from the Pittsburgh Tribune-Review: Demand on pantries grows as food costs rise, jobs lost –
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More links from our Economic Editor, starting with a headline that I’ve been expecting: Bailout May Actually Run $1.8 Trillion — Wells Fargo’s Wachovia Bid Sparks Feud With Citigroup — It’s Wait And See After Bush Signs Bailout Bill — For Bailout To Work, Housing Market Needs To Mend — Fortis’ Dutch Assets Nationalized — Asset Management Teams To Manage Bailout — Manipulation of Gold And Commodity Prices To Prevent Inflation And Higher Interest Rates — Anatomy Of Financial And Economic Disaster, Part 1 — LIBOR Mystifies Americans as Mayor Reads `Doomsday’ — Special Report: The Credit Crisis: How We Got Here (A compilation of news stories starting in 2007 regarding the financial crisis) — CitiGroup Shares Fall 18% As Deal With Wachovia Unravels — Jobs Data Show Broad Decline — Safe Harbor In Preferred Stocks? — The Trouble With Harry (“The steep drop in the share prices of insurance companies Thursday destroyed wealth for uncounted middle-class investors holding onto stock in companies still considered healthy.”)
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I was recently interviewed by Kari Huus, a journalist with MSNBC. She is also interested in interviewing one or two SurvivalBlog readers in the Pacific Northwest, and taking some photographs –mostly of a family’s survival logistics shelves. She notes: “I will respect confidentiality. I worked for many years in China, where lots of reporting involved extreme discretion, and I never broke the rules or
got anyone in trouble there so I have a good track record with this.” She added: “Who knows? Maybe it would help other people get prepared for emergencies–economic or otherwise.” Contact: Kari Huus
Phone: (daytime) 425-706-1844, or e-mail: Kari.Huus@msnbc.com