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2008 Q3 FReepathon. Target: $76,000 Receipts & Pledges to-date: $35,888
47%  
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Keyword: chickenlittle

Brevity: Headers | « Text »
  • Maybe Chicken Little Wasn’t Paranoid After All

    07/05/2008 10:03:25 PM PDT · by Soliton · 15 replies · 470+ views
    New York Times ^ | 7/6/08 | ANDREW C. REVKIN
    Fortunately, the odds are good that the next one will fall over one of our oceans, which take up more than two-thirds of the Earth’s surface, or the planet’s still-vast stretches of uninhabited lands. How much in taxpayer dollars should be invested to pinpoint such hazards is one of the toughest risk-management exercises around.
  • Lawsuit stirs fear of 'strangelets' destroying the Earth

    07/01/2008 9:35:45 AM PDT · by glymers · 40 replies · 912+ views
    Market Watch ^ | June 12, 2008 | John Letzing
    If all goes according to plan, a massive underground facility in Switzerland will begin smashing particles together later this summer in an effort to provide a clearer understanding of the physical universe than has ever before been possible. Known as the Large Hadron Collider, or LHC, the project is composed of a 17-mile circular tunnel beneath Geneva, containing thousands of magnets meant to send beams of subatomic particles hurtling toward each other. The resulting collisions are expected to release matter similar to that present at the "Big Bang" that created the universe.
  • Obama Leads McCain by 15 Points in ANOTHER poll (Not Newsweek)

    06/24/2008 5:34:00 PM PDT · by NYC Republican · 178 replies · 2,819+ views
    Self | 6/24/08 | Self
    This is the 2nd poll where Hussein leads by 15, within a couple of days...
  • Earth Will Survive After All, Physicists Say

    06/22/2008 11:44:33 AM PDT · by neverdem · 34 replies · 782+ views
    NY Times ^ | June 21, 2008 | DENNIS OVERBYE
    That black hole that was going to eat the Earth? Forget about it, and keep making the mortgage payments — those of you who still have them. A new particle accelerator, the Large Hadron Collider scheduled to go into operation this fall outside Geneva, is no threat to the Earth or the universe, according to a new safety review approved Friday by the governing council of the European Organization for Nuclear Research, or Cern, which is building the collider. “There is no basis for any concerns about the consequences of new particles or forms of matter that could possibly be...
  • Doomsday Under Debate

    06/18/2008 7:53:42 AM PDT · by 444Flyer · 26 replies · 806+ views
    msnbc ^ | 6-16-08 | Alan Boyle
    The world's largest particle collider is designed to do its job largely under the surface-and that under-the-surface status also applies to much of the progress in the legal case challenging whether the collider should actually be allowed to do its job.
  • Tech giants use controversial project as test bed ( Hadron Collider threatens the earth says Suit)

    06/13/2008 12:01:07 PM PDT · by Ernest_at_the_Beach · 27 replies · 787+ views
    MarketWatch ^ | June 12, 2008 7:03 p.m. EDT | John Letzing, MarketWatch
    Lawsuit stirs fear of 'strangelets' destroying the Earth; 100,000 chips deployed SAN FRANCISCO (MarketWatch) -- If all goes according to plan, a massive underground facility in Switzerland will begin smashing particles together later this summer in an effort to provide a clearer understanding of the physical universe than has ever before been possible.For companies like Oracle Corp. and Hewlett-Packard Co., which have helped develop a system to send the resulting data surging through a sprawling network, the project is already providing a chance to test some of their most cutting-edge technologies. Video: Tech giants aid project Some of the biggest...
  • Scientists From Around the Globe Join ABC News in a Forum on Surviving the Century (barf alert)

    06/13/2008 6:44:08 AM PDT · by rellimpank · 22 replies · 133+ views
    ABC News ^ | 13 june 08 | SARAH NAMIAS
    Are we living in the last century of our civilization? Is it possible that all of our technology, knowledge and wealth cannot save us from ourselves? Could our society actually be heading towards collapse? A dramatic preview of an unprecedented ABC News event called "Earth 2100." According to many of the world's top scientists, the answer is yes, unless we take action now. This September, in Earth 2100, a dramatic ABC News 2-hour broadcast, the greatest minds across the globe will join together in a countdown to the year 2100 to tell us what we must do to survive the...
  • Time to Retire 'Denier'--move beyond powerful, yet baseless buzz words

    06/11/2008 5:21:49 AM PDT · by SJackson · 9 replies · 516+ views
    Fox News | ^ | June 11, 2008 | Steven Milloy
    In Charles Krauthammer's May 30 must-read column, "Carbon Chastity," he rightly lambastes environmentalists as resurrected communists/socialists who have latched on to the environment and climate change as a means to advance their anti-people social agenda. The specific occasion for his justifiable outrage is a recent proposal by a British parliamentary committee to institute a personal carbon ration card for every citizen. The plan would place limits on food and energy consumption in the form of credits not to be exceeded — except through the potential for heavy-carbon users, often the wealthy, to purchase credits from lower-carbon users, often the less...
  • The Climate Security Act?: Reject the ignorami

    06/01/2008 8:23:09 AM PDT · by Delacon · 19 replies · 589+ views
    Pittsburgh Tribune-Review ^ | Sunday, June 1, 2008
    If there indeed is a second Great Depression to come, this will be the government measure that guarantees it arrives with a devastating gut punch. The U.S. Senate returns to session this week and will take up something deceptively labeled "America's Climate Security Act of 2008." It's a bill designed to combat man-made global warming. But anybody with a brain should be able to understand that the only thing this bill would "secure" would be our national demise. Not only is it one of those sadly classic bureaucratic "solutions" in search of a problem, it is a sad exercise...
  • Atom-smashing lab says experiment to start end-June [scofs at fear of black hole destroying Earth]

    05/27/2008 12:53:48 PM PDT · by Brilliant · 32 replies · 1,136+ views
    AP via Yahoo! ^ | 5/27/08 | AFP
    European particle physics laboratory CERN is set to launch its gigantic experiment which hopes to throw light on the origins of the universe within a month, the laboratory's head said Tuesday. If things go according to plan, the greatest experiment in the history of particle physics could unveil a sub-atomic component, the Higgs Boson, known as "the God Particle." The "Higgs," named after the eminent British physicist, Peter Higgs, who first proposed it in 1964, would fill a gaping hole in the benchmark theory for understanding the physical cosmos. Other work on the so-called Large Hadron Collider (LHC) could explain...
  • "Far From Normal"

    05/21/2008 6:41:22 PM PDT · by B-Chan · 32 replies · 598+ views
    kunstler.com ^ | 2008.05.19 | James H. Kunstler
    "Far from normal". Those were the words that Fed chairman Ben Bernanke used to describe the financial markets (and by extension the economy) these heady spring days when everybody else with a rostrum, it seems, has pronounced the so-called liquidity crisis contained. There's a great wish for American finance to return to business-as-usual -- raking in fantastic fees for innovating new modes of tradable paper, and engineering mergers and buy-outs that generate huge fees plus $100 million kiss-offs for corporate CEOs in the noble struggle to dismantle America's productive capacity -- but apparently events are still out of hand. The...
  • Global Warming May Lead To Increase In Kidney Stones Disease

    05/17/2008 3:42:58 PM PDT · by Dawnsblood · 39 replies · 659+ views
    Science Daily ^ | 5/15/08
    Rising global temperatures could lead to an increase in kidney stones, according to research presented at the 103rd Annual Scientific Meeting of the American Urological Association (AUA). Dehydration has been linked to stone disease, particularly in warmer climates, and global warming will exacerbate this effect. As a result, the prevalence of stone disease may increase, along with the costs of treating the condition. Using published data to determine the temperature-dependence of stone disease, researchers applied predictions of temperature increase to determine the impact of global warming on the incidence and cost of stone disease in the United States. The Intergovernmental...
  • Obesity contributes to global warming: study

    05/15/2008 4:34:09 PM PDT · by porgygirl · 50 replies · 828+ views
    http://www.reuters.com ^ | may 15 | Widgets
    GENEVA (Reuters) - Obesity contributes to global warming, too. Obese and overweight people require more fuel to transport them and the food they eat, and the problem will worsen as the population literally swells in size, a team at the London School of Hygiene & Tropical Medicine says. This adds to food shortages and higher energy prices, the school's researchers Phil Edwards and Ian Roberts wrote in the journal Lancet on Friday. "We are all becoming heavier and it is a global responsibility," Edwards said in a telephone interview. "Obesity is a key part of the big picture." At least...
  • Paris climate meeting ends with no accord

    04/19/2008 8:11:20 PM PDT · by TonyRo76 · 16 replies · 523+ views
    Dispatch/AP ^ | Saturday, April 19, 2008 | (no by-line)
    PARIS (AP) -- Negotiators from the world's biggest emitters of greenhouse gases wrapped up another round of climate talks yesterday by clashing over how deeply to cut the heat-trapping gases they put into the atmosphere. The delegates from 16 nations scheduled more talks next month in trying to produce a new climate accord. Addressing the negotiators, French President Nicolas Sarkozy warned that warming is threatening food supplies and risks sparking a dozen Darfur-like conflicts among displaced, starving people around the world. He said water shortages and rivalry over farmland and fishing resources already are "having a considerable impact on security,"...
  • Is the US economy heading for a collapse?

    03/21/2008 6:22:53 AM PDT · by nicmarlo · 250 replies · 4,380+ views
    Rediff ^ | March 20, 2008 | M R Venkatesh
    An open letter to Mr Ben Bernanke, chairman, US Federal Reserve: Sir, Decades back, one of your predecessors splendidly captured the post-gold standard and the consequent free float of the US dollar scenario rather succinctly when he termed the US dollar as 'our currency, others' responsibility.' It is this responsibility cast on outsiders like me that compels me to write this open letter to you. As I write this, I am fully conscious of the fact that we are living in exceptionally troubled times. I am equally conscious of the fact that being the chairman of the US Federal Reserve,...
  • Let the sun do it - Going solar saves more than money

    03/08/2008 8:50:51 PM PST · by vrwc54 · 75 replies · 1,562+ views
    Daily Hampshire Gazette ^ | 03/08/08 | Bob Flaherty
    GORDON DANIELS John Clapp stands in front of his Chesterfield Road home in Northampton that is off the electric grid, relying instead upon solar, propane and wood. The family has been off the grid for almost 10 years. NORTHAMPTON - Harnessing the sun. Dee Boyle-Clapp and her husband, John Clapp, talked about it on their first date, back in October 1987. 'He was most interesting carpenter I'd ever met,' said Dee, a sculptor from Wisconsin who spent many of her formative years protesting nuclear power plants on Lake Michigan. 'He said he wanted the next house he built to be...
  • The Sky is Falling or on Revising the Nine Times Rule (Part V of V)

    02/29/2008 9:13:17 PM PST · by CedarDave · 8 replies · 130+ views
    Icecap.us ^ | February 28, 2008 | William F. McClenney
    By now you should be conversant with the fact that ice ages happen on an eerily regular basis (Part I), that they are associated with earth’s rickety orbit and have nothing to do with carbon dioxide (Parts II and III). Additionally, in Part III we did the math and realized that you just can’t get to global warming with CO2. It is on the wrong side of the decimal point in terms of concentration (0.04%) to be much of a player unless you imbue it with superpowers that would also make it the darling of the insulation and energy conservation...
  • The Sky is Falling or on Revising the Nine Times Rule (Part IV of V)

    02/29/2008 9:02:21 PM PST · by CedarDave · 8 replies · 148+ views
    Icecap.us ^ | February 28, 2008 | William F. McClenney
    We have seen how all those eerily regular and severe climate changes are the result of earth’s rickety orbit and how the other planets cause this bullying. Not too much we can do about that. We have also seen how carbon dioxide was a spectator at these events and not the agent provocateur some would have us believe. We will now take a last turn through the ice ages to better understand what these events actually meant to us. Call it climate change in your face. There will be a great many of you (88.9%, to be precise) that will...
  • The Sky is Falling or on Revising the Nine Times Rule (Part III of V)

    02/29/2008 8:50:55 PM PST · by CedarDave · 7 replies · 95+ views
    Icecap.us ^ | February 28, 2008 | William F. McClenney
    In Part I many were possibly quite stunned to see just how regular, frequent and dramatic natural climate change is on Spaceship Earth. Four hundred foot sea level changes, abrupt climate change, at the end of 100,000 year long deep freezes (global warming events), the most regularly occurring thing we know of in all geology. Sixteen of these in the last 1.6 million years (The Pleistocene Epoch), and dozens more in the Pliocene which preceded it ...In Part II, we confronted the fact (oops! I am loosing 88.9% of you here) that in order to do this with Greenhouse Gases...
  • The Sky is Falling or on Revising the Nine Times Rule (Part II of V)

    02/29/2008 8:40:10 PM PST · by CedarDave · 8 replies · 121+ views
    Icecap.us ^ | February 28, 2008 | William F. McClenney
    In Part 1, we examined the remarkably regular Pleistocene climate clock. We learned that sixteen times in the last 1.6 million years we would drop into 100k year long deep freezes and nearly instantaneously come out of them, working up 400 foot sea level rises, only to start another long slow slide into the next one, with the interim being just a few tens of thousands of years, if that. With the detailed Vostok ice core data, we saw that the entry into an ice age is a long slippery slope, but quite a bumpy ride, with warm spells that...
  • The Sky is Falling or on Revising the Nine Times Rule (Part I of V)

    02/29/2008 8:28:31 PM PST · by CedarDave · 17 replies · 177+ views
    Icecap.us ^ | February 28, 2008 | William F. McClenney
    When I first heard it, I believed it. It made sense. I could see it easily and clearly. And that was a long, long time ago. It seemed counterintuitive that anyone could or would not believe it. It was that seminal. HomoSapiens would cause the earth to warm, we now call it the Greenhouse Gas theory, and it is now a law (at least in California). But it was just a few years ago as the real hype got going that I had my first cause to question the legality of what would soon be a law. And it happened...
  • The Nation's Anti-Human Agenda (Don Feder Looks At Left's Human-Free Global Future Alert)

    02/27/2008 8:31:03 AM PST · by goldstategop · 13 replies · 119+ views
    Frontpagemag.com ^ | 2/27/2008 | Don Feder
    According to Kathryn Joyce, sneer-and-smear artist for The Nation, those who are concerned about the worldwide decline in birthrates are -- to put it mildly -- racist, neo-Nazis, who have a hidden agenda and (under the guise of demographic winter) are engaged in our age-old quest to control women's bodies. The Nation is this nation's oldest and largest-circulation left-wing journal (outside of The New York Times, of course). Joyce's screed, "Missing: The 'Right' Babies," will appear in the March 3 print edition, but is currently available online. Joyce believes -- with the faith of one immune to facts and logic...
  • Humans Force Earth into New Geologic Epoch

    01/31/2008 9:37:24 AM PST · by forkinsocket · 65 replies · 116+ views
    Livescience ^ | 27 January 2008 | Robert Roy Britt
    Humans have altered Earth so much that scientists say a new epoch in the planet's geologic history has begun. Say goodbye to the 10,000-year-old Holocene Epoch and hello to the Anthropocene. Among the major changes heralding this two-century-old man-made epoch: Vastly altered sediment erosion and deposition patterns. Major disturbances to the carbon cycle and global temperature. Wholesale changes in biology, from altered flowering times to new migration patterns. Acidification of the ocean, which threatens tiny marine life that forms the bottom of the food chain. The idea, first suggested in 2000 by Nobel Prize-winning chemist Paul Crutzen, has gained steam...
  • South Carolinians Press Republicans on Climate Change

    01/10/2008 8:29:51 AM PST · by TornadoAlley3 · 73 replies · 127+ views
    oneworld.net ^ | 01/10/08 | Aaron Glantz
    SAN FRANCISCO, Jan 10 (OneWorld) - Coastal residents and students from all over South Carolina are planning to picket this evening's Republican Party Presidential Candidates Debate. "We just want to emphasize how important the issue of climate change is to the future of South Carolina," said Gretta Kruesi of the state's Coastal Conservation League. "Climate change will affect the strength and number of hurricanes, beach erosion, and tourism, which is the backbone of our economy. We want to make sure the candidates address this issue and invite them to respond." Sporting surfwear and bathing suits, attendees plan to hold aquamarine...
  • The One Environmental Issue (Huck and McCain side with dems on Gorebull Warming)

    01/02/2008 1:02:09 AM PST · by 2ndDivisionVet · 22 replies · 128+ views
    The New York Times ^ | January 1, 2008 | The Editors
    The overriding environmental issue of these times is the warming of the planet. The Democratic hopefuls in the 2008 campaign are fully engaged, calling for large — if still unquantified — national sacrifices and for a transformation in the way the country produces and uses energy. The Republicans do not go much further than conceding that climate change could be a problem and, with the notable exception of John McCain, offer no comprehensive solutions. In 2000, when Al Gore could have made warming a signature issue in his presidential campaign, his advisers persuaded him that it was too complicated and...
  • The Cooling World

    12/27/2007 11:55:44 AM PST · by america4vr · 43 replies · 54+ views
    Denis Dutton.com ^ | April 28, 1975 | Staff
    Here is the text of Newsweek’s 1975 story on the trend toward global cooling. It may look foolish today, but in fact world temperatures had been falling since about 1940. It was around 1979 that they reversed direction and resumed the general rise that had begun in the 1880s, bringing us today back to around 1940 levels. A PDF of the original is available here. A fine short history of warming and cooling scares has recently been produced. It is available here. — D.D. To scientists, these seemingly disparate incidents represent the advance signs of fundamental changes in the world’s...
  • NASA Concerned ABC World News

    12/14/2007 1:17:04 AM PST · by The Bass Player · 20 replies · 212+ views
    ABC World News
    NASA Concerned ABC World News Vanity
  • Temperature Trends in Antarctica for past 20 years

    12/04/2007 7:49:21 AM PST · by cogitator · 71 replies · 535+ views
    There is frequently discussion of whether or not Antarctica is warming or cooling (and if so, by how much). The image below is a useful addition to the conversation. Click the source link for the full text.
  • The Beltway Small Business Report.(The sky isnt falling)

    11/22/2007 8:25:15 AM PST · by DrBombbay · 4 replies · 32+ views
    Foxnews ^ | 11/21/07 | Karen Kerrigan
    <p>Cheers to Small Business: I Refuse to Be a 'Doomsday Diva'</p> <p>Last week in New York City, I participated in an important summit of business leaders where we explored the “Outlook for 2008.” We identified the key priorities and needs to keep the U.S. entrepreneurial sector strong and competitive.</p>
  • Peoples Republic of Austin Missile Test

    [URL=http://i217.photobucket.com/albums/cc87/jh1947/Tower2cgi.jpg][IMG]http://i217.photobucket.com/albums/cc87/jh1947/th_Tower2cgi.jpg[/IMG][/URL] [URL=http://i217.photobucket.com/albums/cc87/jh1947/Tower1cgi.jpg][IMG]http://i217.photobucket.com/albums/cc87/jh1947/th_Tower1cgi.jpg[/IMG][/URL]
  • Final TB count: 212 test positive at 1 chicken plant

    11/03/2007 7:05:23 AM PDT · by B4Ranch · 149 replies · 339+ views
    decaturdaily.com/ ^ | FRIDAY, NOVEMBER 2, 2007 | Eric Fleischauer
    All of the employees at the Wayne Farms fresh processing plant in Decatur have received tuberculosis skin tests and 212 of them tested positive. Health workers read and tabulated a final batch of tests Wednesday, said Scott Jones, interim director of the State Department of Public Health's Tuberculosis Control Division. Of the 598 tests administered Monday, 165 tested positive. In skin tests administered to 167 fresh processing employees Oct. 11, 47 tested positive. One of the 47 has active tuberculosis disease, which is contagious. All told, 28 percent of those who received skin tests at the fresh processing plant tested...
  • Stocks Slump; Dow Falls Over 360 Points

    10/19/2007 12:46:09 PM PDT · by rightinthemiddle · 46 replies · 59+ views
    AP/Yoo-Hoo ^ | Friday October 19, 3:34 pm ET | By Tim Paradis, AP Business Writer
    Stocks Drop Amid Earnings, Credit Unease Wall Street Falls Sharply Amid Lackluster Profit Reports, Credit Concerns NEW YORK (AP) -- Stocks pulled back sharply and bonds jumped Friday as lackluster profit reports and unease about the credit markets touched off fresh concerns about the ability of the economy to continue to push ahead. Stocks logged their steepest declines since late August. Mixed results from Dow Jones industrial average components 3M Co., Honeywell Inc., and Caterpillar Inc. gave investors little incentive to buy. Wachovia Corp.'s weak profits renewed concerns that have dogged Wall Street in recent months about the banking sector.
  • Real estate: More price drops, more layoffs

    10/17/2007 6:05:33 AM PDT · by Hydroshock · 8 replies · 629+ views
    <p>BOSTON (CNNMoney.com) -- For those in the real estate industry and for those looking to buy or sell a home, it could take until 2009 to catch a break.</p> <p>That's the forecast from Doug Duncan, chief economist for the Mortgage Bankers Association (MBA), who will present his outlook to an auditorium full of real estate professionals on Wednesday morning.</p>
  • Housing starts, permits plunge

    <p>NEW YORK (CNNMoney.com) -- Builders continued to slam the brakes on new homes in September, as the government's latest reading on the battered market out Wednesday showed housing starts and permits were weaker than expected at levels not seen for more than a decade.</p>
  • Warming deniers stumbling

    10/07/2007 8:09:23 AM PDT · by Nomorjer Kinov · 66 replies · 2,532+ views
    Carroll County Times ^ | 6 Oct 2007 | Robert Wack
    Even though public opinion is inexorably shifting toward concern about man-made climate change, we are still treated to the rants of warming skeptics who trot out the same old arguments. The interesting thing is how these objections have changed over time, moving the goal posts if you will. It's late in the fourth quarter, though, and the deniers are backed up almost to their own end zone as the melting glaciers of evidence creep slowly forward. Warming deniers have used two types of counter arguments: ones that attack the messenger or message, and others that try attacking the science. The...
  • Pending home sales at record low

    <p>NEW YORK (CNNMoney.com) -- The meltdown in the mortgage market in August dried up the supply of buyers for homeowners looking to sell their homes, as an industry group report showed the lowest level of homes under contract on record.</p>
  • Global warming guru Gore to visit Victoria

    08/31/2007 5:00:16 PM PDT · by USFRIENDINVICTORIA · 23 replies · 375+ views
    Victoria Times Colonist ^ | Friday, August 31, 2007 | Not Named
    Al Gore, a former U.S. vice-president and star of the global-warming warning movie An Inconvenient Truth, will be in Victoria next month. Deirdre Campbell, of Tartan Public Relations, confirmed Gore will speak at the Victoria Conference Centre, on Saturday, Sept. 29. Tickets start at $199. Campbell said Gore's appearance was arranged by three students from the University of Victoria who she declined to name. She promised more details about the event in the near future. Gore was vice president to Bill Clinton for two terms. He ran for president in 2000 but lost, in a controversial election, to George W....
  • California cities fill top 10 foreclosure list

    <p>NEW YORK (CNNMoney.com) -- The binge that many housing markets went on in the early- to mid-2000s is over, and some of the hottest markets like California are now experiencing the worst hangovers.</p> <p>But other areas, especially many that recorded slower home price growth earlier this decade, have seen little increase in foreclosure rates, according to the latest data released Tuesday from RealtyTrac, the online marketer of foreclosure properties.</p>
  • Credit card defaults keep rising, report says

    <p>NEW YORK (CNNMoney.com) -- American consumers are defaulting on their credit cards at a sharply higher rate compared to last year, in what could be another consequence of the recent subprime mortgage market crisis, according to a report published Tuesday.</p>
  • No Savior for Mortgage Biz

    08/28/2007 6:45:15 AM PDT · by Hydroshock · 24 replies · 353+ views
    <p>Waiting to see big banks piling into the mortgage business a la Bank of America (BAC - Cramer's Take - Stockpickr - Rating)? Don't hold your breath.</p> <p>BofA surprised Wall Street last week by making a $2 billion bet on struggling Countrywide (CFC - Cramer's Take - Stockpickr - Rating). The news, announced after the close last Wednesday, gave Countrywide's sinking stock a one-day reprieve.</p>
  • US recession risk highest since 9/11 -- ex-Treasury secretary [OH NO! WE'RE DOOOOOOOMED!!!!]

    WASHINGTON (AFP) - Former US Treasury secretary Larry Summers said Sunday it was too early to declare the financial markets crisis over and said chances had risen sharply of an economic downturn in the United States. ADVERTISEMENT Despite interventions by the US Federal Reserve last week which appeared to reverse heavy selling pressure over the collapsing US housing debt market, Summers said the risk of recession was its highest since the immediate aftermath of the September 11, 2001 attacks. "We certainly saw some repair and some return to normality this week, but I think it would be far premature to...
  • Mystery trader bets market will crash by a third (Article dated 8/16)

    08/26/2007 4:56:29 PM PDT · by djf · 75 replies · 3,422+ views
    Financial News Online | Aug 16 | Renée Schultes
    Carry trade unwinds as yen hits one-year high An anonymous investor has placed a bet on an index of Europe's top 50 stocks falling by a third by the end of September, as world equity markets plunged for a third day and volatility hit a three-year high. The mystery investor has bought put option contracts on the DJ Eurostoxx 50 index that will result in a profit if it plunges to 2,800 or below by the end of September. Based on the 2,800 strike price, the position covers a notional €6.9bn, and potentially even more using a market price of...
  • Countrywide CEO sees recession ahead

    08/25/2007 5:59:22 AM PDT · by Hydroshock · 153 replies · 2,092+ views
    <p>NEW YORK (Reuters) - Countrywide Financial Corp Chief Executive Angelo Mozilo said on Thursday the U.S. housing downturn is likely to lead the country into recession, but that the largest U.S. mortgage lender will survive.</p> <p>In an interview, Mozilo also said that to promote liquidity, the U.S. Federal Reserve should cut the rate it charges banks to borrow.</p>
  • Would a Bush Bailout Save the GOP? (FreeRepublic cited)

    08/25/2007 12:09:28 AM PDT · by 2ndDivisionVet · 62 replies · 1,412+ views
    US News & World Report ^ | August 24, 2007 | James Pethokoukis
    <p>The last politician who took advice from the bond market was Bill Clinton. When he pushed for a tax hike back in 1993 to cut the budget deficit, it was under the assumption that bond investors would respond by bringing down interest rates. (The theory here is that deficits are inflationary. Inflation is bad for bonds.) Yet long-term interest rates surged from 6.45 percent when Clinton signed his tax-hike bill on Aug. 10, 1993, to 8.16 percent on Nov. 7, 1994, the day before the midterm congressional election where Republicans won back the House and Senate.</p>
  • Bonds still riding high on credit fears (Depression on Steroids!!)

    NEW YORK (CNNMoney.com) -- Bond remained higher Friday despite a surprisingly strong durables goods reading as credit worries continued to trouble investors. The dollar fell against the euro and the yen. Video More video Luke Newman joins CNN to explain how a private investor can build a balanced portfolio in uncertain times. Play video The 10-year benchmark note gained 8/32, or $2.50 on a $1,000 note, to yield 4.62 percent, down from 4.64 late Thursday. Bond prices and yields move in opposite directions. Bernanke: The un-Greenspan The closely watched three-month Treasury bills, which have been the focus of the market...
  • Homeowner group slams Countrywide

    08/24/2007 6:41:18 AM PDT · by Hydroshock · 49 replies · 1,025+ views
    NEW YORK (CNNMoney.com) -- Countrywide Financial, the nation's biggest home lender and one of those most affected by the subprime mortgage crisis, found itself the target of stinging criticism Thursday from an organization trying to help homeowners in peril. The Neighborhood Assistance Corporation of America said Countrywide (Charts, Fortune 500) was not doing enough to help people who took out subprime adjustable-rate mortgages (ARMs) over the past few years and now may lose their homes. Subprime loans are issued to borrowers with poor credit histories who often lack the funds to make large down payments. Justin Urquhart Stewart of Seven...
  • Rating Firms' Next Subprime Role: Defendant

    As the carcasses of subprime mortgage-backed securities lie rotting on Wall Street, the buzzards are circling heretofore untouchable prey: the rating agencies. Critics say the ratings industry was too late in downgrading mortgage-backed securities, echoing cries after past crises involving Enron, WorldCom and Russian debt, among others. But the current episode comes with a different twist: Rather than merely third-party observers, some sources say Moody's (MCO - Cramer's Take - Stockpickr - Rating), Standard & Poor's and their smaller rival Fitch Ratings played active roles in structuring MBS and related securities. Therefore, they could be deemed underwriters and exposed to...
  • Hedge Funds' World of Hurt

    Remember when Wall Street would obsess over the next leveraged buyout candidate, and hedge fund masters of the universe could raise ungodly war chests with just a handful of phone calls? What a difference a few months make. Lately, hedge fund implosions have replaced the LBO parade as the market's signature event. Investors have seen huge setbacks at funds run by Bear Stearns (BSC - Cramer's Take - Stockpickr - Rating), UBS (UBS - Cramer's Take - Stockpickr - Rating) and Goldman Sachs (GS - Cramer's Take - Stockpickr - Rating), among others, as the credit environment has grown fraught...
  • Subprime may be hitting credit cards, too (Hide under your beds!)

    08/23/2007 1:39:01 PM PDT · by Hydroshock · 80 replies · 1,959+ views
    NEW YORK (CNNMoney.com) -- Fallout from the mortgage mess and lower home prices may have started to creep into the credit card arena, judging from July payments and some initial moves by issuers to tighten the screws on cardholders. After falling for three consecutive months, delinquent payments on credit cards -- defined as more than 30 days late - increased slightly in July, to 4.64 percent from 4.62 percent in June, according to CardWeb.com. A year ago, the delinquency rate was 4.18 percent. The amount of credit card debt consumers are paying off, meanwhile, has fallen. The portion of outstanding...
  • Bloodbath Beckons on Wall Street (Layoffs in big firms)

    Fretting about bonus money is Wall Street's latest fixation, but investment bankers may soon have more pressing worries. September could bring a wave of layoffs as big banks aim to bounce back from the summer's credit market swoon. Mass firings now could help brokerage firms cut costs and show investors they're taking decisive action to compete better in a tough market. It also may have dawned on banking honchos that cutting staff will help preserve whatever's left of their dwindling bonus pools. "I think [bank execs] are thinking, if I cut right now maybe I save some of this bonus,"...