Pertinent Press
Greenspan favors government cash payouts to homeowners over Paulson plan FT, 6 ; NYT, C6
Cereals set to hit record level today in latest wave of “agflation” FT, 1
Aussies sue Lehman over slumping CDOs FT, 1
Default rate on corporate bonds hits 25-yr. low; meanwhile, number of downgrades of corporate issuers skyrockets FT, LEX, 18
Central banks and Wall Street defer to American consumer to prevent recession, but early signs are unpromising WSJ, C1
New economists’ survey put recession odds at 38%; Vigilant FED policy, global growth, strong employment and government spending cited as cases for optimism WSJ, A2
Flight to quality halts as equities and government bonds decouple WSJ, C2
$2bln writedown at CIBC? FT, 20