War is a racket: General Dynamics Second-Quarter Net Jumps 25% on Armor, Jets

General Dynamics Corp., the largest maker of armored vehicles for the U.S. military, said second- quarter earnings rose 25 percent as the Iraq war lifted sales of blast-proof trucks

http://tinyurl.com/6ho34k



Wachovia loses $8.9B, cuts 6,350 workers, dividend

Wachovia Corp. reported a surprisingly large second-quarter loss Tuesday, deflating Wall Street's hopes that the nation's big banks are weathering the credit crisis well.

http://biz.yahoo.com/ap/080722/earns_wachovia.html?.v=19



Who's Next? List of Troubled Banks Worries Wall Street

Banks in Colorado, Maryland, Georgia and California top privately-prepared lists of troubled banks being circulated on Wall Street and in Washington.

http://abcnews.go.com/Blotter/story?id=5374205&page=1



GM, Ford On the Verge of Bankruptcy

General Motors Corp. and Ford Motor Co., the two biggest U.S. automakers, have about a 46 percent chance of default within five years, according to Edward Altman, a finance professor at New York University's Stern School of Business.

http://tinyurl.com/6xq8ke


From Information Clearing House



http://freepage.twoday.net/search?q=credit+crisis
http://freepage.twoday.net/search?q=bankruptcy

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