More Sub-prime Woes

UBS doubles sub-prime writedowns
UBS unveils a further $19bn of writedowns linked to the sub-prime crisis, taking total writedowns to $37bn.
http://news.bbc.co.uk/go/em/-/2/hi/business/7323809.stm

Krugman on Bailouts

http://www.nytimes.com/2008/03/17/opinion/17krugman.html?ex=1206504000&en=378edf80e7907e3e&ei=5070&emc=eta1

Uh, a Bit Late. . .

FBI investigates sub-prime crisis

The FBI probes 14 firms embroiled in the sub-prime mortgage crisis as it cracks down on improper lending.

http://news.bbc.co.uk/go/em/-/2/hi/business/7216602.stm

In Europe

US fears Europe-based terrorism *One of the biggest threats to US security may now come from within Europe, the US Homeland Security head says.

http://news.bbc.co.uk/go/em/-/2/hi/americas/7190788.stm


Papal visit scuppered by scholars *The Pope cancels a visit to a top Rome university after protests against his views on Galileo.

http://news.bbc.co.uk/go/em/-/2/hi/europe/7188860.stm


German bank hit by sub-prime woes *Hypo Real Estate sees its shares slump by a third after writedowns due to US sub-prime exposure.

http://news.bbc.co.uk/go/em/-/2/hi/business/7190046.stm

Bad for America

http://www.bankofamericabadforamerica.org/

Who's Your Daddy?

Abu Dhabi Becomes Largest Citigroup Shareholder With $7.5B Investment, Bailout Comes Amidst Subprime Mortgage Crisis, Record-High Oil Prices *

The Gulf Arab emirate of Abu Dhabi bought a $7.5 billion stake in Citigroup, America's largest bank, on Tuesday, making it the bank's largest shareholder. As the U.S. credit crisis worsens and the price of oil hovers close to $100 a barrel, the injection of capital from oil-rich Gulf states is seen as a bailout of banks in trouble. We speak with NYU economics professor, Nouriel Roubini and Hampshire College professor Michael Klare, author of "Blood and Oil."

Listen/Watch/Readhttp://www.democracynow.org/article.pl?sid=07/11/29/1523200 *

Minorities Hit Hardest by Subprime Mortgage Crisis *

We take a look at how the subprime mortgage crisis is affecting homeowners. The latest statistics show U.S. foreclosure filings nearly doubled in October from the same month last year. African-American and Latino homeowners have been particularly hard hit. A new study finds that African-Americans and Latinos were more than three times as likely as whites to have a high-cost loan.

Listen/Watch/Readhttp://www.democracynow.org/article.pl?sid=07/11/29/1523206

News in the Americas

* Gunmen fire on Venezuela protest *Gunmen open fire on students protesting against planned reforms by the Venezuelan president.

Full story:http://news.bbc.co.uk/go/em/-/2/hi/americas/7084262.stm

Economic worries knock US markets *US stock markets fall sharply as the dollar weakens further and Morgan Stanley discloses sub-prime related losses.

Full story:http://news.bbc.co.uk/go/em/-/2/hi/business/7084215.stm

Chavez meets Colombia Farc rebels *Venezuela's President Hugo Chavez says he has held talks with a representative of Colombia's Farc rebel group.

Full story:http://news.bbc.co.uk/go/em/-/2/hi/americas/7084347.stm