Jobless rate climbs as 51,000 jobs vanish

Stores, factories and other businesses large and small showed workers the door last month, sending unemployment to its highest rate in four years and adding to the evidence an economic recovery remains far off.

http://news.yahoo.com/s/ap/20080801/ap_on_bi_go_ec_fi/economy



Stressed banks borrow record amount from Fed

Banks borrowed a record amount of funds from the Federal Reserve in the latest week as the year old credit crisis took a persistent toll, while the commercial paper market continued to contract, signaling tough conditions for short term borrowers.

http://biz.yahoo.com/rb/080731/markets_credit_banks.html?.v=1



IndyMac Bancorp files for Chapter 7 bankruptcy

According to the bankruptcy filing, the holding company has between $50 million and $100 million in assets, between $100 million and $500 million of liabilities and less than 50 creditors.

http://www.bizjournals.com/sacramento/stories/2008/07/28/daily47.html


From Information Clearing House



http://freepage.twoday.net/search?q=unemployment
http://freepage.twoday.net/search?q=Federal+Reserve
http://freepage.twoday.net/search?q=credit+crisis
http://freepage.twoday.net/search?q=IndyMac
http://freepage.twoday.net/search?q=bankruptcy

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