Economics News

Latvia Spares Currency, Devalues Economy to Save Path to Euro [Bloomberg]

RBS losses swell to £1.5bn as bad debts triple [TimesOnline]

Record levels of bankruptcies as middle class and famous are hit [thisislondon]

Unemployment rate hits 10.2%, a 26-year high [MarketWatch]

Goldman left foreign investors holding the subprime bag [McClatchy]

Inside the thick Goldman Sachs investment circular were the details of a secret, $2 billion deal channeled through a Caribbean tax haven.

The Sept. 26, 2006, document offered sophisticated U.S. and European investors an opportunity to buy into a pool of supposedly high-grade bonds backed by residential, commercial and student loans. The transaction was registered through a shell company in the Cayman Islands.

Gold taps record as U.S. joblessness hits 10%

Gold futures finished at a record Friday, after earlier tapping $1,100 an ounce, as news that the U.S. unemployment rate topped 10.2% in October lifted expectations the Federal Reserve will keep interest rates near zero well into next year, pressuring the dollar.

On The Edge Episode 26

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