Panel 1
Ratings downgrades
South Canterbury
Marac Finance
Cut to junk
Panel 2
Property concerns
Related party loans
New capital needed
Further cuts possible
Panel 3
Problem for banks
Ultimately for govt
Oct 2010 looking close
Trustees decision
Panel 4
US retail sales
Fell unexpectedly
Consumers tight
Debt deleveraging
Panel 5
30 yr bond auction
Surprisingly strong
Germany, France
Surprise GDP rises
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