Lots of links:
- Even the rich are starting to default. Not just “cant afford it”, but “can afford, don’t want to”
- TARP, visualised. Darn funny.
- Cut the H1-Bs first, say disgruntled workers about Microsoft/Intel layoffs.
- Europe is in deep doo-doo, says Roubini. When Roubini talks, everyone listens.
- SAAB, a GM unit, files for bankruptcy protection.
- Indian fiscal deficit to be nearly the highest in the world, for a few years, says Goldman. (Which may not last those years itself, but uhm, not the Q here)
- Five Lakh Indian jobs lost in three months.
- Indian markets lose 8% in a week. US markets are at all time lows on the Dow and nearly there on the S&P 500. Citibank is at $2, and all the banks are hurting, from Wells Fargo to Bank of America. Warren Buffet’s Berkshire Hathaway trades at $75000, breaking a very recent low of $78K.
- Jobs must be saved even if it means pay cuts: Pranab Mukherjee. Oh wait, we didn’t think of that! What an idea, sirjee.
Bad news, bad news and more bad news. I’m just numb.