Links friday:)

[sweetredfl]

HEDGEFUNDS
US ruling could impact hedge funds
www.caycompass.com/cgi-bin/CFPnews.cgi?ID=1024879

Hedge fund's Cayman Islands liquidation recognised by UK court
www.caribbeannetnews.com/news-3414--30-30--.html

tinyurl.com/3bv7qw Greenspan cites '87 and '98 market crises -
Hedge fund Long-Term Capital Management controlled $100 billion (49.5 billion pounds) of assets in 1998 but collapsed in the wake of a Russian debt crisis, wreaking havoc in many derivatives markets.

Hedge-Fund Billionaires Eyed by Congress for More Medicare Tax
www.bloomberg.com/apps/news?pid=20601070&sid=aMiaoYimlIOM&refer=politics

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MARKETS

Stocks Drop, Bonds Jump on Weak Job Data
biz.yahoo.com/ap/070907/wall_street.html?.v=34

crainsny.com/apps/pbcs.dll/article?AID=/20070905/FREE/70905006 Asset management firm AXA Advisors will pay nearly $4 million in refunds and fines to settle
charges that it failed to adequately supervise its fee-based brokerage business, and distributed misleading sales information.

Bear Stearns' Profit Estimates Cut by Banc of America
www.bloomberg.com/apps/news?pid=20601084&sid=aaNToZ37vj1g&refer=stocks

Gold Gains to 16-Month High on Demand for Haven; Silver Rises
www.bloomberg.com/apps/news?pid=20601012&sid=aY80j3AtCUIY&refer=commodities

If Companies Help Other Companies Cheat, Let's Sue: Ann Woolner
www.bloomberg.com/apps/news?pid=20601039&refer=columnist_woolner&sid=aj8ZcdwR4ggY

Lehman Brothers to cut 850 jobs
us.ft.com/ftgateway/superpage.ft?news_id=fto090620071241471983&referrer_id=yahoofinance

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OF INTEREST
FBI Makes 11 Corruption Arrests In N.J.
www.wnbc.com/investigations/14056446/detail.html
The SEC, regulator of our nation’s capital markets, has been at least partially captured by financial elites
to the point that it favors Wall Street over Main Street.”
forums.auctions.overstock.com/viewtopic.php?p=223125#223125

**
ragingbull.quote.com/mboard/boards.cgi?board=CMKI&read=600583
Technical launch for ESES scheduled for 7 September 2007
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POLITICS
www.usatoday.com/news/world/2007-09-07-apec-bush_N.htm?csp=34
Bush spars with S. Korean president - In a testy public exchange Friday with South Korean

Bush Tells Business Leaders Free-Trade Talks `Vital'
www.bloomberg.com/apps/news?pid=20601070&sid=a3wag6D0Cf70&refer=politics
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MINING

Atomic Energy of Canada to Build More Than 8 Reactors by 2020
www.nytimes.com/2007/09/07/business/worldbusiness/07fobriefs-ADEALBYROYAL_BRF.html

Mine having big impact
www.timminspress.com/webapp/sitepages/content.asp?contentid=684651&catname=Editorial&classif=Editorials

Massive South African diamond could be for real
www.mineweb.co.za/mineweb/view/mineweb/en/page43?oid=26771&sn=Detail

Gold breaks through $700 barrier after U.S. data disappoints and dollar falls
www.mineweb.co.za/mineweb/view/mineweb/en/page33?oid=26773&sn=Detail

Gold futures climb past $700 an ounce
www.marketwatch.com/news/story/december-gold-futures-top-700/story.aspx?guid=%7B21376A09%2DE0CC%2D40BF%2DAF44%2DF0EE934CFC15%7D&siteid=bnb

Ahead of schedule; Ontario's first diamond mine could be operational by March
www.timminspress.com/webapp/sitepages/content.asp?contentid=682124&catname=Local+News&classif

Jack Layton calls for national diamond strategy
www.sootoday.com/content/news/full_story.asp?StoryNumber=26954

Premier-Goldcorp Red Lake joint venture drilling intersects 14.2g/t Au across 5.0 meters
biz.yahoo.com/cnw/070906/premier_red_lake_drll.html?.v=1

**Canada to decide within days whether to join new U.S.-led nuclear initiative
canadianpress.google.com/article/ALeqM5izYVzn9nPnjL0NUv0NkQjsiiUdzw

dailyjournalonline.com/articles/2007/09/07/news/doc46e019991c3ae639101979.txt
Federal regulators give favorable preliminary review of pipeline - The U.S. State Department has
given a preliminary nod to a $2 billion pipeline that would transport crude oil from Canada through seven states, including Kansas and Missouri

Diamond Fields' Aug. Sale at $872K, Marine Project Takes Weather Hit
www.diamonds.net/news/NewsItem.aspx?ArticleID=18904

Star Diamonds mine
www.miningweekly.co.za/article.php?a_id=113735

Canada: True North Gems, GIA to Sponsor Gemological Assoc. Conference
www.diamonds.net/news/NewsItem.aspx?ArticleID=18907

dailyjournalonline.com/articles/2007/09/07/news/doc46e019991c3ae639101979.txt
Federal regulators give favorable preliminary review of pipeline

www.tcpipelineslp.com/news/2006/2006_02_15_2.html
“Northern Border Pipeline is a key link in the transportation of western Canadian natural gas supply from the Alberta Hub to the growing U.S. Midwest market, including the Chicago market.

finance.sympatico.msn.ca/investing/news/businessnews/article.aspx?cp-documentid=5403131 Rainbow Lake oil pipeline put on sale by Imperial Oil and partners
The energy champions behind the proposed $16-billion Mackenzie pipeline are selling a small oil pipeline in northern Alberta, bewildering observers who say the Rainbow line has strategic importance.

BISMARCK, N.D. (AP) — The U.S. State Department has given a preliminary nod to a $2 billion pipeline that would transport crude oil from Canada through seven states, including Kansas and Missouri.
The Keystone pipeline, a project of TransCanada Corp. of Calgary, Alberta, is planned to stretch more than 1,800 miles from Hardisty, in east-central Alberta, to refineries in Illinois, with a spur to Oklahoma.
The pipeline, as proposed, “would result in limited adverse environmental impacts during both construction and operation, and would be an environmentally acceptable action,” the State Department said in a draft environmental impact statement.
dailyjournalonline.com/articles/2007/09/07/news/doc46e019991c3ae639101979.txt

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BANKS
Canada: A Deal by Royal Bank
www.nytimes.com/2007/09/07/business/worldbusiness/07fobriefs-ADEALBYROYAL_BRF.html

ECB, BoE Hold Interest Rates Steady
biz.yahoo.com/ap/070906/europe_interest_rates.html?.v=14

news.google.com/news?um=1&tab=wn&ie=UTF-8&q=Basel+II&scoring=n

Dollar Heads for Weekly Slide Versus Euro on Fed Rate Outlook
www.bloomberg.com/apps/news?pid=20601087&sid=acJ9sq.w6IV8&refer=home

Trichet Says ECB Determined to Act on Rates If Needed
www.bloomberg.com/apps/news?pid=20601087&sid=alY4bmxl_nTY&refer=worldwide

biz.yahoo.com/ap/070907/thornburg_mortgage_ahead_of_the_bell.html?.v=1 Ahead of the Bell: Thornburg Mortgage - Thornburg Mortgage Recovers Some Cash Through Auction of Collateral

Greenspan Sees Echoes of 1987, 1998 in Market Turmoil
www.bloomberg.com/apps/news?pid=20601068&sid=aZdsfmqs40oQ&refer=economy

Gulf Central Bankers Meet Amid Lack of Progress on New Currency
www.bloomberg.com/apps/news?pid=20601068&sid=a_cHiJH.K0R8&refer=economy

China Needs to Curb Liquidity, Bank Governor Says
www.bloomberg.com/apps/news?pid=20601068&sid=aeAD6tpIzrF4&refer=economy

tinyurl.com/3bv7qw Greenspan cites '87 and '98 market crises -
Hedge fund Long-Term Capital Management controlled $100 billion (49.5 billion pounds) of assets in 1998 but collapsed in the wake of a Russian debt crisis, wreaking havoc in many derivatives markets.

Gulf Central Bankers Meet Amid Lack of Progress on New Currency
www.bloomberg.com/apps/news?pid=20601068&sid=a_cHiJH.K0R8&refer=economy

Dollar Heads for Weekly Slide Versus Euro on Fed Rate Outlook
www.bloomberg.com/apps/news?pid=20601087&sid=acJ9sq.w6IV8&refer=home

Knight Vinke Targets HSBC for Shake-Up
www.forbes.com/topstories/home/feeds/ap/2007/09/07/ap4092546.html

www.nytimes.com/2006/09/28/world/europe/28cnd-swift.html?ei=5094&en=acc43812d3a1b33f&hp=&ex=1159502400&partner=homepage&pagewanted=print
**Data Transfer Broke Rules, Report Says ... BRUSSELS, Sept. 28, 2006 — The Belgian-based consortium known as Swif

BofA names senior execs for wealthy clients
biz.yahoo.com/bizj/070907/1517767.html?.v=2

**http://biz.yahoo.com/portfolio/070907/dcrfc629ddbf84334bd6678fbd721ec7ade.html?.v=1
The Maestro Speaks (Alan Greenspan)

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IMF
asia.news.yahoo.com/070907/3/37kdq.html IMF's Rato expects world growth estimates to be cut
International Monetary Fund Managing Director Rodrigo Rato said on Friday he expected a downward revision of world growth estimates for 2007 and 2008 after the subprime crisis.

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DERVIATIVES
www.wallstreetandtech.com/advancedtrading/showArticle.jhtml?articleID=169500449 Credit Derivatives Create Back-Office Mayhem August 22, 2005 By Daniel Safarik
Wall Street & Technology
August 22, 2005
The market for credit derivatives has exploded, and, as e-trading platforms rush to make execution and settlement more efficient, buy-side firms stand to benefit from a gigantic marketplace that is about to get much easier to access. According to the Bank for International Settlements (BIS), at the end of 2004, the total notional value of credit default swaps (CDSs) was $6.4 trillion. The notional value for the overall credit derivatives market stood at $8.42 trillion in June 2004, having grown 568 percent in three years, according to the BIS and the International Swaps and Derivatives Association (ISDA).
CDSs are bilateral financial contracts in which one counterparty, the protection buyer, pays a periodic fee, typically expressed as a percentage of the notional amount, in return for a contingent payment by the protection seller following a credit event of a reference entity, usually a corporation. Payment is made when an issuer's credit event, such as a bankruptcy, occurs. Defining what constitutes a credit event always has made CDS documentation complex - a fact that, until recently, largely had kept the buy side out of the market.
ISDA produced a standardized confirmation letter in 1992, which was amended in 2002, and made the contract definition of a credit event more precise. Smoothing this documentation process has made trading in CDSs more appealing to hedge funds, which previously had to buy corporate and U.S. Treasury bonds to hedge their risk in purchasing credit derivatives.
"The benefit of CDSs is pretty clear," says Harrell Smith, securities and investments analyst at Celent Communications. "It is a more effective way to take a position on single credit names as well as baskets of securities

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RUMORS
This should answer a few questions on Euroclear: www.federalreserve.gov/BOARDDOCS/PRESS/bhc/2000/20001221/attachment.pdf
www.euroclear.com/ Euroclear

(4:42 PM) INES1OO: Ok i called the euroclear too. Provided him with icin number. I asked how can there be any activity if the stock is not trading and its revoked ?
He said that is shows still active. I asked what do you mean by that? He said the flags are still open for delivery and receives.