What, Lassie? Timmy's Down the Well?

Stocks tumbled and credit markets remained tight Thursday after an unexpected rise in unemployment claims and a drop in factory orders underscored the troubles facing the economy even if lawmakers are able to sew together a financial rescue aimed at resuscitating the ailing credit markets.

ISF: Unexpected? Are they living in a fucking cave? Trapped in a well? HELLLLLLLOOOOOOOOOOOO?!?!?!?! Is anybody home?

Something Stinks Here

7/23/08: Wachovia Corp. lost a staggering $8.9 billion in the second quarter, leading the nation's fourth-largest bank to cut its dividend and slash more than 6,000 jobs in response to mortgage-related losses. The bank's results were much worse than Wall Street anticipated, a stark contrast to its big bank rivals that handily beat the low targets analysts had set. Wachovia said it lost $8.86 billion and is slashing its dividend after losses tied to mortgages soared. The bank also said it would lay off 6,350 current employees, and leave unfilled another 4,400 open positions. The bank has already cut 2,000 retail mortgage jobs, it said.

9/9/08: Just for taking the job, Wachovia Corp.'s new chief financial officer gets an upfront bonus of $4 million, 1 million stock options and 800,000 shares of restricted stock, the Charlotte bank said in a filing this morning. Under his employment agreement, the new CFO each year gets a salary of $500,000, a target bonus of $3.75 million and a target stock grant of $3.75 million. For 2008, he will receive a guaranteed minimum bonus of $937,500, payable in February 2009. The agreement also allows for severance payments if he is terminated for “good reason” or “without cause.” The company also will cover taxes owed if he loses his job in the case of a merger or acquisition.

Pretty, please? With millions of dollars on top?

U.N. Secretary-General Ban Ki-moon flew into Myanmar's disaster zone Thursday as he pressed the country's leaders to open the doors to critical international aid for some 2.5 million cyclone survivors. In a meeting with Prime Minister Thein Sein, Ban stressed that foreign aid experts needed to be rushed in because the crisis had exceeded Myanmar's national capacity, according to a U.N. official at the talks.

WP: Please, oh please, won't you take our millions of dollars in aid while our own country struggles with the rising cost of gas, airline prices, food prices, a recession, a falling stock market, rising unemployment, Katrina victims who still don't have a place to live, etc.? C'mon? Please?