Twitter IPO Coming Soon: Get Ready to Buy in 140 Characters or Less

There’s always some excitement when a tech company finally makes its IPO. The most notable, at least recently, was Facebook’s. Now, Twitter is set to have their own IPO, right around Thanksgiving.

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Read more @ Technabob

Daily Financial Crisis Recap Midday 22.10.08

Stocks decline as the earnings report the fallout from the credit crisis. The Dow is at 8,740.71, a loss of 292.95 which is 3.24%.

United States crude oil futures for December delivery fell $3.22, or 4.5 percent, to $68.96 a barrel.

Bush calls 20 nations for an economic summit on November 15th.

Wachovia reports $23.9 billion in losses for its third quarter. IMF Director is caught in a scandal.

Struggling families in the US are cutting down on medication.

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Daily Financial Crisis Recap End of Day 21.10.08

OPEC member countries are freaking out because of the low oil prices. I’m happy.

Sarkozy proposes nationalized wealth funds to protect key industries from market volatility. Germany hates it alreayd, but Italy is busy passing legislation to enact this. Argentina nationalizes $30 billion in public pensions. Markets promptly responded by going down by 13%.

Canada cuts its key interest rate and signals that more cuts are coming up.

Three large regional banks reported losses.

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Daily Financial Crisis Recap 21.10.08

Stocks rallied yesterday and closed at 9,265.43 but they opened lower this morning. It’s already 115.97. lower than yesterday at 9,149.46. Some companies like Caterpillar, Dupont and Texas Instrument announced low earnings. European stocks gave up gains after France announced an injection of funds into its banks.

US govt urges new bank mergers.

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Stocks Continue To Plummet

 Treasury Secretary Henry Paulson after a news conference by Brendan Smialowski for NY Times
Treasury Secretary Henry Paulson after a news conference by Brendan Smialowski for NY Times

Stocks continue to plummet. The Dow is below 8,600.

Meanwhile in Iceland, the government seized Kaupthing Bank, the country’s largest lender, effectively completing the nationalization of its banking system. *

Citigroup decides not to block the Wells Fargo/Wachovia merger, but demands $60 billion in punitive damages in a law suit. Fat chance that they’ll ever get that money.

US considers injecting cash into financial institutions. I don’t think that will work. We’ll see more bankruptcies soon.

Iceland is going bankrupt. Since they are already part of the European Economic Area, adopting the euro would be a way to get themselves out of trouble, since the krona is completely devaluated and they’ve stopped trading in it since Thursday.

The latest Reckoning article is up. Greenspan was all for not regulating the derivatives market, which is at the heart of the current financial crisis. If he would have been for regulating it, things might have been different. Then again, the main fault lies with greedy Wall Street and London investment banks, who exploited the contracts to their utmost limits.