Prepare yourself for a U-turn
Westminster Blog: It’s a good time for the government to bury bad news. I’d put money on the new homes target being dropped, writes Jim Pickard
Principal content
Global markets slide on recession fears
Growing evidence that the worldwide bank rescue plans have come too late to avert a deep global recession drove down stock markets in Europe, the US and Asia
McCain and Obama clash in final debate
McCain under pressure to turn campaign around
Darling tries to defuse bail-out row
No ‘blanket ban’ on dividends in rescue of high street banks
US hedge fund withdrawals hit $43bn in September
Industry set to shink amid market turmoil
European central banks pump $250bn liquidity
ECB relaxes criteria for collateral from banks
Three big US banks unveil $2.6bn in profits
JPMorgan, Wells, State Street all receiving funds
Hedge funds call for intervention on Lehman
Concerns that US offers greater protection
Related content and features
Video
John Authers: Stocks sell-off
John Authers says money markets, retail sales and oil prices are all driving investors to sell equities
UK Daily View: The credit crunch bites into jobs
Chris Giles on what worst jobless jump for 17 years means for inflation policy
FT Book Award: Winner on light at end of tunnel
Mohamed El-Erian, author of When Markets Collide, on excess, and a ‘pause in capitalism that refreshes’
Interactive
Digital Business
Podcast: How Microsoft believes it can dominate the search market; and an IT CEO tries to survive without email
Rescue models compared
Interactive graphic: Compare past bail-out structures with the current UK and US Treasury plans using this handy tool
Time to plan a swift return of the People’s Banks to private control
Maverecon blog: The state should not control banks for long, writes Willem Buiter, as it is a dreadful owner and manager of financial institutions
Comment
America was right to look and learn
Mr Bush and Mr Paulson were forced to accept that they were either with European governments or the markets would be against them, writes John Gapper
The truth behind the Asian fairy tale
When the waters recede they will reveal a global landscape in which Asia, though damaged, looks more solid than the west, writes David Pilling
Beware October move from bin Laden
The election of the first African-American would do wonders to restore US ‘soft’ power. That is why Obama is such a threat to bin Laden, writes Joseph Nye
How buy-to-let became a mug’s game
The capital gains that lured latecomers have evaporated, swallowing their deposits and leaving some with negative equity, writes .Jonathan Guthrie
Lex
Job losses in London and NY
Bankers may choose not to join the ranks of benefits claimants. But plenty will find themselves unemployed
Buy it now
For the first time in eBay’s history, sales are expected to decline in the fourth quarter
Editorial comment
Clearing up the credit swaps fog
Allowing an opaque market to grow unchecked was an inexcusable oversight of regulation. It must not be repeated
An exit strategy
Governments will never be ordinary shareholders. Public recapitalisation is vital, but the two-tier system it creates carries its own problems
Russian rescue
The country’s leaders must guard against the dangers of favouritism by ensuring that the bail-out funds are distributed transparently
