Wall St. Banks Confront a String of Write-Downs – NYT
In recent weeks one part of the debt market after another has buckled. High-risk loans used to finance corporate buyouts have plummeted in value. Securities backed by commercial real estate mortgages and student loans have fallen sharply. Even auction-rate securities, arcane investments usually considered as safe as cash, have stumbled.
Clinton to fight for every delegate – msnbc.com
â€œCould we possibly have a nominee who hasn’t won any of the significant states — outside of Illinois?â€ Chief Strategist Mark Penn said. â€œThat raises some serious questions about Sen. Obama.â€
Howard Wolfson, communications director, pointed out, â€œWe do better the more voters vote. The largest turnout primaries, by in large, are the ones that have favored us. â€¦The presidential election is not a caucus; itâ€™s an election for the most people to get out and vote.â€
No Lull in Mortgage Pitches – NYT
Countrywide Financial brags in its ads that â€œNo one can do what Countrywide canâ€ and that â€œCountrywide can show you the way home.â€ Wachovia ads feature an â€œApprovedâ€ stamp prominently at the top, and Bank of America says, â€œHomeownership is the best medicine.â€
Obama mania’s got all sides screaming
"If Hillary walked on water, she would be criticized for not swimming," Lehane said. "And if Obama swam, he would be lauded for being able to do what Hillary could not do."
Pakistanis Deal Severe Defeat to Musharraf in Election – NYT
Pakistanis dealt a crushing defeat to President Pervez Musharraf in parliamentary elections on Monday, in what government and opposition politicians said was a firm rejection of his policies since 2001 and those of his close ally, the United States.
Almost all the leading figures in the Pakistan Muslim League-Q, the party that has governed for the last five years under Mr. Musharraf, lost their seats, including the leader of the party, the former speaker of Parliament and six ministers.
The Afghanistan Conundrum: Germany Mulls Exit from Anti-Terror Mission – SPIEGEL
The German government is considering exiting the United States-led anti-terror operation Enduring Freedom (OEF) in Afghanistan and has already sent out feelers in Washington about the issue.
Bleak New Batch of Data on Economy – NYT
With the price of oil near record levels, import costs grew in January at the highest annual rate in a quarter century, the Labor Department said. In New York, manufacturing activity fell to its lowest level in five years. And consumers, responding to a national survey, said they felt worse about the economy than any time since the recession era of the early 1990s.
Black Leader, a Clinton Ally, Tilts to Obama – NYT
Representative John Lewis, an elder statesman from the civil rights era and one of Senator Hillary Rodham Clintonâ€™s most prominent black supporters, said Thursday night that he planned to cast his vote as a superdelegate for Senator Barack Obama in hopes of preventing a fight at the Democratic convention.
BBC | Weak rise in US industrial output
US industrial production rose a meagre 0.1% in January, official figures have shown, the latest indication of weakness in the US economy.
House Holds Bush Aides in Contempt – NYT
The House voted Thursday to hold two of President Bush’s confidants in contempt for failing to cooperate with an inquiry into whether a purge of federal prosecutors was politically motivated.