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Aug 6, 2011

MarketWatch: The Week's Top Ten Videos

MarketWatch
Weekly Roundup
AUGUST 06, 2011

The week's top 10 videos on MarketWatch

By MarketWatch



In case you missed them, here are the most popular videos that appeared on MarketWatch for the week of Aug. 1-5:

Let sleeping bears lie

August isn't always the becalmed month we think it is and this year could be downright volatile. Our top commentators show you how to navigate through the dog-day doldrums.
 Watch Video Report.


S&P 500 crash through 200-day average not all bad

So many people are following the 200-day moving average, to help differentiate between bull and bear markets, that the indicator may have lost the effect it's had for decades, according to Mark Hulbert. Laura Mandaro reports.
 Watch Video Report.


Talk of double dip: Streets of San Francisco speak

MarketWatch takes to the streets of San Francisco to get the public's reaction after the Dow falls 512 points, and to see whether people believe the dreaded double-dip is on the way and how they're protecting assets. Austen Sherman reports.
 Watch Video Report.


Nudestock: Not for the modest concert-goer

You've probably heard of Woodstock, but how about Nudestock? Yes, it's exactly what you're imagining — a festival where all the participants bare it all.
 Watch Video Report.


Putin calls U.S. ‘parasite' on global economy

Russian Prime Minister Vladimir Putin calls the United States a "parasite" on the world economy.
 Watch Video Report.


Consumer-spending data bring bad news

Markets dipped after sobering consumer spending data, while investors mulled over whether treasuries were still a safe haven. In Europe, attention shifted away from Portugal to Span and Italy's debt status, and David Weidner makes the case for running a government like Apple.
 Watch Video Report.


David Boies on running a law firm

Famed lawyer David Boies discusses running a law firm and managing clients in a recession. Boies also gives suggestions for fixing what he sees as systemic problems facing the legal community: costs and billing.
 Watch Video Report.


Your smartphone may soon be your wallet

Around the world, people use their cellphones to pay for groceries and other retail goods, but the technology has been slow to take hold in the U.S. Google and Visa are among the companies aiming to change that, Georgia Wells reports.
 Watch Video Report.


Are we in a liquidity trap?

Banks and investors are reluctant to put their cash to work because they are worried about the economic outlook. With no other place to put it, they're parking it in banks. Alan Murray looks at whether we're in a liquidity trap.
 Watch Video Report.


Insiders are selling faster than usual

Corporate insiders are selling at one of the fastest rates in years, Mark Hulbert tells Laura Mandaro.
 Watch Video Report.

The Washington PostToday's Headlines: Today's Highlights | Politics | Style | Sports | World| Live Discussions | Technology | Business

The Washington Post

TODAY'S HEADLINES

TODAY'S HIGHLIGHTS
S&P downgrades U.S. credit rating

Standard & Poor’s announced Friday night that it has downgraded the U.S. credit rating for the first time. The move came even though the Treasury Department said that it had found a math error in the firm’s calculations of deficit projections, according to a person familiar with the matter.
(By Zachary A. Goldfarb)

Reelection could rest on economy

Obama’s 2012 prospects by the numbers
(By Karen Tumulty)

Obama’s role as debt-ceiling negotiator scrutinized

Some Democrats say President Obama displayed an overly cautious negotiating style during the recent tension-filled talks over raising the nation’s debt ceiling.
(By Peter Wallsten)

China seeks to silence dissent overseas

Pressure on an Indonesian radio station raises questions about how China will use its clout.
(By Andrew Higgins)

Freshmen find roommates on Facebook

More college freshmen are bypassing the anxiety of meeting their roommates by vetting classmates on Facebook and matching themselves.
(By Jenna Johnson)

POLITICS
Some comments about the debt rating drop
Reaction to the first-ever downgrade of the nation’s AAA credit rating:
( Associated Press Associated Press , AP)

Guest lineups for Sunday news shows
WASHINGTON — Guest lineups for the Sunday TV news shows:
( Associated Press Associated Press , AP)

Lawmaker: Pawlenty once ‘pantsed’ me
Former Minnesota House speaker says Pawlenty snuck up behind him at softball game and yanked down his pants.
( by Matt DeLong , The Washington Post)

Regulators close down 2 small banks in Ill., Wash.; 63 bank failures nationwide this year
WASHINGTON — Regulators on Friday shut down a small bank in Illinois and one in Washington, lifting to 63 the number of U.S. bank failures this year.
( Associated Press Associated Press , AP)

A 26-second solution to the FAA shutdown
For furloughed FAA workers, reinstatement arrived on Friday via a 26-second exchange between two senators.
( by Rosalind S. Helderman , The Washington Post)

STYLE
Ask Amy: Words of comfort make orphan feel worse
Sympathetic words can fail, or worse, in a time of grief.
(, The Washington Post)

Hints From Heloise: Paw problems
Excessive paw-licking can be a sign of allergies or fleas.
(, King)

Grandma is a Skype grump
Grandma can’t be trusted to video chat with 2-year-old granddaughter without being mean.
(, The Washington Post)

Simon Cowell has big ‘X Factor’ news
Star of Fox’s reality talent show springs surprise about winner’s prize.
(, The Washington Post)

Dad and daughter tackle Vietnam’s legacy
Marvin and Deborah Kalb collaborate on “Haunting Legacy: Vietnam and the American Presidency From Ford to Obama.”
( by Emily Wax , The Washington Post)

SPORTS
Friday's Sports in Brief
AKRON, Ohio — Rickie Fowler had eight birdies and an eagle to give himself another shot at winning. Adam Scott did well enough to stay in the lead. PGA Tour rookie Keegan Bradley got in on the action late.
( Associated Press Associated Press , AP)

Seahawks CB Brandon Browner on comeback path after 4 years in Canada
RENTON, Wash. — Brandon Browner is not a typical NFL cornerback.
( Associated Press Associated Press , AP)

Barcelona building on successful training program through expanded academy for youth players
BARCELONA, Spain — Barcelona has risen to the top of European soccer on the strength of its highly productive academy.
(Associated PressAssociated Press, AP)

Veteran CB Carlos Rogers embraces San Francisco, eager for change
SANTA CLARA, Calif. — Carlos Rogers needed a change.
( Associated Press Associated Press , AP)

After 4 unproductive seasons, WR Craig Davis seeking fresh start with Buffalo Bills
PITTSFORD, N.Y. — Receiver Craig “Buster” Davis is so intent on getting a fresh start to his career with the Buffalo Bills that he’s willing to forgo his nickname.
( Associated Press Associated Press , AP)

WORLD
Islamist militia pulls out of Somali capital
MOGADISHU, Somalia — Government and rebel spokesmen say that Islamist forces are pulling out of the Somali capital of Mogadishu.
( Associated Press Associated Press , AP)

Official: Prison break in central Iraq leaves 3 killed, 5 woundedas 1 inmate escapes
BAGHDAD — An official says two inmates and one guard have been killed in a prison break in central Iraq.
( Associated Press Associated Press , AP)

Red Cross says thousands of homes damaged by floods in North Korean province
SEOUL, South Korea — More than 4,700 homes in one North Korean province were destroyed or damaged by extensive flooding spawned by torrential rains in late July, according to a Red Cross report.
( Associated Press Associated Press , AP)

Copter crash kills dozens of U.S. troops
Afghan President Hamid Karzai says the crash during an operation against the Taliban killed 31 U.S. troops and seven Afghan soldiers.
( by Sayed Salahuddin , The Washington Post)

Afghan president: 31 US special operations troops, 7 Afghan troops killed in helicopter crash.
KABUL, Afghanistan — A helicopter crash in Afghanistan’s eastern Wardak province has killed 31 U.S. special operation troops and seven Afghan soldiers, the country’s president said on Saturday. It was the highest number of casualties recorded in a single incident in the decade-long war.
( Associated Press Associated Press , AP)

LIVE DISCUSSIONS
ComPost Live with Alexandra Petri
The Compost, written by Alexandra Petri, offers a lighter take on the news and political in(s)anity of the day.
(, vForum)

Opinion Focus with Eugene Robinson
Washington Post columnist Eugene Robinson discusses his recent columns and the latest news in a live Q&A.
(, vForum)

Debt Ceiling drama: Why Jonathan Capehart thinks your voice needs to be heard
In his Post-Partisan blog post today, Opinion writer Jonathan Capehart said that "Folks should be marching on the Capitol" in protest of the way the debt issue is being handled. Do you agree?
(, vForum)

Chatological Humor: Monthly with Moron
Gene Weingarten takes polls and chats about his recent columns.
(, vForum)

ComPost Live with Alexandra Petri
The Compost, written by Alexandra Petri, offers a lighter take on the news and political in(s)anity of the day.
(, vForum)

TECHNOLOGY
Las Vegas man known as 'Spam King' accused of sending more than 27M spam messages on Facebook
SAN FRANCISCO — A Las Vegas man accused of sending more than 27 million spam messages to Facebook users faces federal fraud and computer tampering charges that could send him to prison for more than 40 years, according to a grand jury indictment.
( Associated Press Associated Press , AP)

Chrome Lion Full Screen Support Is Ready To Go In Canary, Both With Tabs And Without

( by TechCrunch.com , TechCrunch.com)

Life At AOL – The Expenses War

( by TechCrunch.com , TechCrunch.com)

Elon Musk, Dustin Moskovitz, And Eric Ries Are Ready To Shake Things Up At Disrupt SF

( by TechCrunch.com , TechCrunch.com)

Latest tech spat between Google and Microsoft goes public, this time over patents
NEW YORK — Tech heavyweights Microsoft and Google are acting like a couple of feuding starlets in a public online spat over — wait for it — patents.
( Associated Press Associated Press , AP)

BUSINESS
China tells US to tighten its belt, deal with 'debt-addiction'
BEIJING — China, the largest foreign holder of U.S. debt, demanded Saturday that America tighten its belt and confront its ‘debt-addiction’ in the wake of the Standard & Poor’s decision to downgrade the U.S. credit rating from AAA.
( Associated Press Associated Press , AP)

S&P issues unprecedented downgrade of US credit rating, citing political debate, debt package
WASHINGTON — Republicans and Democrats quickly doled out blame to each other for the first-ever downgrade in the nation’s sterling credit rating, an expected but unsettling move that further clouds prospects for the recovery of the fragile U.S. economy.
( Associated Press Associated Press , AP)

S&P downgrades U.S. credit rating
Standard & Poor’s announced Friday night that it has downgraded the U.S. credit rating for the first time. The move came even though the Treasury Department said that it had found a math error in the firm’s calculations of deficit projections, according to a person familiar with the matter.
( by Zachary A. Goldfarb , The Washington Post)

Largest US human trafficking case in question after gov't fails to convict Hawaii farm owners
HONOLULU — The U.S. government’s largest-ever human trafficking case, involving alleged exploitation of about 600 agricultural workers from Thailand, was put in jeopardy after all charges were dismissed in a related prosecution of a Hawaii farm, attorneys said Friday.
( Associated Press Associated Press , AP)

The rise of LivingSocial
How LivingSocial evolved from an apps business to a coupon titan potentially worth $1 billion.
( by Steven Overly and Thomas Heath , The Washington Post)

NYT: Morning Business News: Nations React to Downgrade of U.S. debt



BUSINESS

Nations React to Downgrade of U.S. Debt

Officials in Europe and Asia were taken aback Saturday by Standard & Poor’s unprecedented decision to downgrade America’s sterling sovereign credit rating.

China Tells U.S. It Must ‘Cure Its Addiction to Debt’

China, the largest foreign holder of American debt, said Washington needed to “live within its means.”

NYT: ALERT FGC BOLSA - FGC FINANCIAL MARKETS; U.S. Cuts debt Rating For First Time .



Alert Name: FGC BOLSA - FGC FINA
August 6, 2011 Compiled: 12:58 AM

BUSINESS DAY

Standard & Poor’s removed the United States government from its list of risk-free borrowers on Friday night, dropping the rating to AA+ on concerns about rising federal debt.

BUSINESS DAY / GLOBAL BUSINESS

Olli Rehn said expectations that "all elements" in the recent rescue package for the euro zone would take effect immediately were "clearly unrealistic."

BUSINESS DAY

The Procter & Gamble Company said Friday that its quarterly profit rose 15 percent as sales gained in emerging markets, and forecast annual revenue that topped some analysts’ estimates.

FDIC Press Releases: Agencies Issue Guidance on Federal Debt and today's Bank Closings




Press Release

Joint Release
Board of Governors of the Federal Reserve System
Federal Deposit Insurance Corporation
National Credit Union Administration
Office of the Comptroller of the Currency

For Immediate Release
August 5, 2011

Agencies Issue Guidance on Federal Debt
Earlier today, Standard & Poor’s rating agency lowered the long-term rating of the U.S. government and federal agencies from AAA to AA+. With regard to this action, the federal banking agencies are providing the following guidance to banks, savings associations, credit unions, and bank and savings and loan holding companies (collectively, banking organizations)
For risk-based capital purposes, the risk weights for Treasury securities and other securities issued or guaranteed by the U.S. government, government agencies, and government-sponsored entities will not change. The treatment of Treasury securities and other securities issued or guaranteed by the U.S. government, government agencies, and government-sponsored entities under other federal banking agency regulations, including, for example, the Federal Reserve Board’s Regulation W, will also be unaffected

Media Contacts:
Federal Reserve Susan Stawick (202) 452-2955
FDIC David Barr (202) 898-6992
NCUA David Small (703) 518-6336
OCC Bryan Hubbard (202) 874-5307
FDIC-PR-133-2011 



Bank Closing - Bank of Whitman, Colfax, WA

On Friday, August 5, 2011, Bank of Whitman (CERT #22528), Colfax, WA was closed by the Washington State Department of Financial Institutions. All deposits, excluding certain brokered deposits, were transferred to the acquiring institution. For further information, please visit the FDIC web site: Bank of Whitman (www.fdic.gov).

Press Release
Columbia State Bank, Tacoma, Washington, Assumes All of the Deposits of Bank of Whitman, Colfax, Washington

FOR IMMEDIATE RELEASE
August 5, 2011
Media Contact:
Greg Hernandez (202) 898-6984
Cell: (202) 340-4922
Email: ghernandez@fdic.gov

Bank of Whitman, Colfax, Washington, was closed today by the Washington State Department of Financial Institutions, which appointed the Federal Deposit Insurance Corporation (FDIC) as receiver. To protect the depositors, the FDIC entered into a purchase and assumption agreement with Columbia State Bank, Tacoma, Washington, to assume all of the deposits of Bank of Whitman.
Eight of the 20 branches of Bank of Whitman will reopen during their normal business hours beginning on Monday as branches of Columbia State Bank. The eight branches reopening are located at: 233 Bridge Street, Clarkston; 201 S. Main Street, Colfax; 605 E. Main Street, Othello; 795 SE Bishop Blvd., Pullman; 201 W Main Street, Ritzville; 618 W Riverside Avenue, Spokane (Downtown); 12812 N Addison, Spokane; and, 500 W Main Street, Walla Walla.
While all deposits were transferred to Columbia State Bank, the remaining 12 branches of the former Bank of Whitman will not reopen. Customers of the 12 branches not reopening should utilize the eight branches that are reopening, except customers of Pasco and Kennewick, who should utilize the local Columbia State Bank Branches listed on the page in the link below. Depositors also can access their accounts and other banking services through the use of checks, ATM and debit cards and the Internet. Please also note that ATMs at the branches not reopening will remain operational only throughout the weekend. Columbia State Bank will notify depositors of the Bank of Whitman once it fully integrates its systems to allow the failed bank's customers to use other Columbia State Bank branches in the state, in addition to the branches referenced above.
For additional information, customers of the 12 branches not reopening should see http://www.fdic.gov/bank/individual/failed/whitman_branches_closed.html.
All depositors of Bank of Whitman will automatically become depositors of Columbia State Bank. Deposits will continue to be insured by the FDIC, so there is no need for customers to change their banking relationship in order to retain their deposit insurance coverage up to applicable limits.
As noted, this evening and over the weekend, depositors of Bank of Whitman can access their money by writing checks or using ATM or debit cards. Checks drawn on the bank will continue to be processed. Loan customers should continue to make their payments as usual.
As of June 30, 2011, Bank of Whitman had approximately $548.6 million in total assets and $515.7 million in total deposits. In addition to assuming all of the deposits of the failed bank, Columbia State Bank agreed to purchase approximately $314.4 million of the failed bank's assets. The FDIC will retain the remaining assets for later disposition.
Customers with questions about today's transaction should call the FDIC toll-free at 1-800-881-7816. The phone number will be operational this evening until 9:00 p.m., Pacific Daylight Time (PDT); on Saturday from 9:00 a.m. to 6:00 p.m., PDT; on Sunday from noon to 6:00 p.m., PDT; and thereafter from 8:00 a.m. to 8:00 p.m., PDT. Interested parties also can visit the FDIC's Web site at http://www.fdic.gov/bank/individual/failed/whitman.html.
The FDIC estimates that the cost to the Deposit Insurance Fund (DIF) will be $134.8 million. Compared to other alternatives, Columbia State Bank's acquisition was the least costly resolution for the FDIC's DIF. Bank of Whitman is the 63rd FDIC-insured institution to fail in the nation this year, and the third in Washington. The last FDIC-insured institution closed in the state was First Heritage Bank, Snohomish, on May 27, 2011.

Press Release
Heartland Bank and Trust Company, Bloomington, Illinois, Assumes All of the Deposits of Bank of Shorewood, Shorewood, Illinois

FOR IMMEDIATE RELEASE
August 5, 2011
Media Contact:
Greg Hernandez (202) 898-6984
Cell: (202) 340-4922
Email: ghernandez@fdic.gov

Bank of Shorewood, Shorewood, Illinois, was closed today by the Illinois Department of Financial and Professional Regulation—Division of Banking, which appointed the Federal Deposit Insurance Corporation (FDIC) as receiver. To protect the depositors, the FDIC entered into a purchase and assumption agreement with Heartland Bank and Trust Company, Bloomington, Illinois, to assume all of the deposits of Bank of Shorewood.
The three branches of Bank of Shorewood, including the location operating as Bank of Elwood, will reopen on Saturday as branches of Heartland Bank and Trust Company. Depositors of Bank of Shorewood will automatically become depositors of Heartland Bank and Trust Company. Deposits will continue to be insured by the FDIC, so there is no need for customers to change their banking relationship in order to retain their deposit insurance coverage up to applicable limits. Customers of Bank of Shorewood should continue to use their existing branch until they receive notice from Heartland Bank and Trust Company that it has completed systems changes to allow other Heartland Bank and Trust Company branches to process their accounts as well.
This evening and over the weekend, depositors of Bank of Shorewood can access their money by writing checks or using ATM or debit cards. Checks drawn on the bank will continue to be processed. Loan customers should continue to make their payments as usual.
As of June 30, 2011, Bank of Shorewood had approximately $110.7 million in total assets and $104.0 million in total deposits. In addition to assuming all of the deposits of the failed bank, Heartland Bank and Trust Company agreed to purchase essentially all of the assets.
Customers with questions about today's transaction should call the FDIC toll-free at 1-800-823-5028. The phone number will be operational this evening until 9:00 p.m., Central Daylight Time (CDT); on Saturday from 9:00 a.m. to 6:00 p.m., CDT; on Sunday from noon to 6:00 p.m., CDT; and thereafter from 8:00 a.m. to 8:00 p.m., CDT. Interested parties also can visit the FDIC's Web site at http://www.fdic.gov/bank/individual/failed/shorewood.html.
The FDIC estimates that the cost to the Deposit Insurance Fund (DIF) will be $25.6 million. Compared to other alternatives, Heartland Bank and Trust Company's acquisition was the least costly resolution for the FDIC's DIF. Bank of Shorewood is the 62nd FDIC-insured institution to fail in the nation this year, and the sixth in Illinois. The last FDIC-insured institution closed in the state was First Chicago Bank & Trust, Chicago, on July 8, 2011.

Market Flashes: S & P notifies U.S. downgrade into Limbo

Markets Alert
from The Wall Street Journal


A mathematical error discovered late Friday by Treasury Department officials threw into limbo, at least temporarily, plans by ratings firm Standard & Poor’s to downgrade the top-notch AAA credit rating the U.S. has held for 70 years, people familiar with the matter said.

The wild back and forth between the Treasury Department and S&P Friday afternoon illustrated the dramatic stakes as the ratings firm moved to downgrade the debt.

http://online.wsj.com/article/SB10001424053111903366504576490841235575386.html?mod=djemalertMARKET