Below are the latest writedown stories from the web that I have seen. For the full timeline of news, visit my credit crisis timeline. Bloomberg recently updated their tally of writedowns to arrive at $503.8 Billion to date. That is on the timeline as well.
Also see my list of Bankrupt Global Financial [...]

U.S. jobless claims for the past week were down to 425,000 from 435,000 last week and as high as 457,000 three weeks ago. While seasonality is big part of the data in August, this is a comforting change from the recent pattern.Nevertheless, comparisons to August last year remain worryingly high; Claims are sill running [...]

Here’s the Guardian’s take on the news and a story from the Telegraph.

RBS axe likely to fall on Sir Tom, not Sir Fred – Telegraph

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Today’s version is a mini-round up of the most interesting economic, financial and political stories on the web.Is debt your destiny? – MSN (good advice on how to avoid being sucked in by debt)
What You Get for … $900,000 – NY Times (Interesting to see, and check out the slideshow pics of the houses)
I’m in [...]

In Europe, there has been a lot of talk about Germany’s second largest bank, Dresdner Bank, which is looking to get sold by its parent Allianz. Allianz, which also owns U.S. bond giant PIMCO, has had only trouble with Dresdner since it bought the company at the top of the market in 2000. [...]

Given the number of foreign articles I have translated recently, I thought it would be useful to start a foreign press alert which pulls together common themes in order to present a holistic view. Today, I will post on Argentina, Spain, Denmark and Sweden. Later, I hope to get to the Netherlands, Germany and [...]

When it comes to residential property in the US, banks were overzealous on the way up and now they are overzealous on the way down. You have probably heard that banks are cutting HELOCs (home equity lines of credit) like mad. Borrowers, looking to tap an additional source of liquidity as the U.S. [...]

House prices are falling at an ever faster rate in the UK, according to Nationwide’s latest survey for August 2008. The Nationwide Index was down to 329.5 from 335.9 in July, a fall of 1.9%. The index is down 10.5% compared to August 2007, the first double digit fall in prices since Q4 1990. In July, those figures were only 1.5% and 8.1% down respectively, suggesting declines are still accelerating in the UK. The average home in the UK will cost you £164,654.

Up until two days ago oil was crashing down toward $110 a barrel as demand growth estimates have been clipped. So what happened to peak oil? Nothing happened; peak oil should still be a concern.
For a larger context on peak oil, see my June post ‘Peak oil: are we there yet?‘ From where [...]

I have a friend who is a very unusual and cosmopolitan blend. Satoshi is a Japanese guy who grew up in the deep south in New Orleans who I met when we worked together at a German bank in the high yield market in London ten years ago.
He has this expression he always used [...]