World-News

The American International Group is rapidly running through $123 billion in emergency lending provided by the Federal Reserve, raising questions about how a company claiming to be solvent in September could have developed such a big hole by October. Some analysts say at least part of the shortfall must have been there all along, hidden by irregular accounting.

http://www.iht.com/articles/2008/10/30/business/30aig.php



Goldman Sachs ready to hand out £7bn salary and bonus package... after its £6bn bail-out

Each of the firm's 443 partners is on course to pocket an average Christmas bonus of more than £3million.

http://tinyurl.com/6cqew3



Taxpayers Could Cover Government Pension Shortfall

Illinois taxpayers may soon be called on to bail out what is arguably the best-funded public pension plan in the state thanks to $3.6 billion in fund losses caused by the spiraling economy.

http://www.huffingtonpost.com/2008/10/29/taxpayers-could-cover-gov_n_139036.html



Exxon Mobil posts biggest US quarterly profit ever

Exxon Mobil Corp., the world's largest publicly traded oil company, reported income Thursday that shattered its own record for the biggest profit from operations by a U.S. corporation, earning $14.83 billion in the third quarter.

http://news.yahoo.com/s/ap/20081030/ap_on_bi_ge/earns_exxon_mobil


From Information Clearing House

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Banks to Continue Paying Dividends

Binyamin Appelbaum, The Washington Post: "U.S. banks getting more than $163 billion from the Treasury Department for new lending are on pace to pay more than half of that sum to their shareholders, with government permission, over the next three years.... Critics, including economists and members of Congress, question why banks should get government money if they already have enough money to pay dividends - or conversely, why banks that need government money are still spending so much on dividends."

http://www.truthout.org/103008B

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Oil Company Bonanza Continues With Record Profits for Shell and Exxon
http://www.commondreams.org/headline/2008/10/30-9

Natural Resources Defense Council (NRDC): Bush Administration Christmas Gift to Oil Companies Will be Announced on Election Day
http://www.commondreams.org/newswire/2008/10/30-16



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