Mises Wire

Oh to Have China’s Troubles

Oh to Have China’s Troubles

Here are the headlines from Bloomberg

•AIG Plunges After Cut in Credit Rating Jeopardizes Effort to Raise Capital

•Overnight Interest Rate Doubles as Banks Hoard Cash on Failure Speculation

•Federal Reserve Adds $50 Billion to Money Market, Sending Funds Rate Lower

•Barclays Discussing Purchase of Lehman Assets, May Seek Broker-Dealer Unit

•Wall Street Convulsions May Further Erode U.S. Growth, Put Pressure on Fed

•Goldman Profit Slumps 70%, Biggest Drop Since Company Went Public in 1999

•Consumer Prices in U.S. Fall First Time in Almost Two Years as Fuel Drops

•McCain Says Government Should Allow AIG Failure to Prevent `Moral Hazard’

•China’s Milk Scandal Broadens With Discovery of Melamine in Yoghurt Bars

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