Financial news on August 18, 2007

Business and Financial news
Being Right Is Bittersweet for a Critic of Lenders

For more than a decade, Edward M. Gramlich, a Federal Reserve Board governor, has been warning of dangers in the housing market. But now, he’s fighting for his life. Read more..

By MICHELINE MAYNARD - The New York Times

Fed Cuts Lending Rate in Surprise Move

The Federal Reserve today approved a half-percentage point cut in its discount rate on loans to banks, citing the potential impact of the credit crunch on the economy. Read more..

By JEREMY W. PETERS and VIKAS BAJAJ - The New York Times

In Automotive Trade Deficit, a Silver Lining for U.S.

A significant part of the improvement in the American trade deficit since last summer has come thanks to the American auto industry. Read more..

By FLOYD NORRIS - The New York Times

It’s Time to Get Professional About Getting Organized

Professional home organizing specialists offer some tips on ways to keep a home running efficiently. Read more..

By MICKEY MEECE - The New York Times

Jittery Markets Deflate Trades Centered on Yen

For several years, investors have borrowed cheaply in Japan and invested that money in higher-return locales. But the recent market volatility may mark the end of this particular investment strategy. Read more..

By WAYNE ARNOLD - The New York Times

Judge Blocks Sentinel Plan to Sell Assets

The Sentinel Management Group was blocked from selling assets after two customers claimed that investors’ assets were being sold at below-market rates. Read more..

By BLOOMBERG NEWS - The New York Times

Latest Genealogy Tools Create a Need to Know

As genealogical societies and Web sites proliferate and DNA testing becomes more widely available, researching family roots has become a passion for many Americans. Read more..

By ELLEN ROSEN - The New York Times

Musical Mastery, Maybe

Guitar Hero is turning on a new generation to the guitar, risking damage to run normal cars on E85 and more. Read more..

By DAN MITCHELL - The New York Times

No Applause, Please

The curse of the business press, cutting e-mail overload, understanding the telecommuting promotion gap and what business leaders can learn from fairy tales. Read more..

By PAUL B. BROWN - The New York Times

Toys ‘R’ Us Stops Selling Lead-Tainted Bibs

The giant toy chain said Friday that it would halt sales of vinyl baby bibs after tests it commissioned in recent days found two samples with lead exceeding its standards. Read more..

By ERIC LIPTON - The New York Times

See what else happened on August 18, 2007