Financial news on August 22, 2009

Business and Financial news
America May Need to Find Another Financier

The growth in Asia’s appetite for U.S. Treasuries is slowing, which means the United States may have to find others to finance its debt. Read more..

By FLOYD NORRIS - The New York Times

Another Top-Level Departure at Chrysler

James E. Press, who was lured to Chrysler after 37 years at Toyota, is believed to be leaving. Read more..

By NICK BUNKLEY - The New York Times

Bank of America Adds a Director

Robert Scully, a former Morgan Stanley executive, was elected to its board, which now has 14 members. Read more..

By BLOOMBERG NEWS - The New York Times

Credit Crisis Is a Big Draw for Finance Museum

At the Museum of American Finance, the “greed, recklessness and arrogance” of Wall Street is on display. Read more..

By GRAHAM BOWLEY - The New York Times

Jobless Rate Went Higher in 26 States Last Month

The unemployment rate fell in 17 states and the District of Columbia last month, a positive sign even as the pain of joblessness remains widespread. Read more..

By BLOOMBERG NEWS - The New York Times

Lawyers for Broker in Madoff Case Call U.S. Suits Unfair

Court papers filed by lawyers for Robert Jaffe contended there was no evidence he was involved in Madoff’s fraud. Read more..

By DIANA B. HENRIQUES - The New York Times

Profit Falls at China Construction Bank

The China Construction Bank Corporation said first-half profit fell 4.9 percent on contracting loan margins. Read more..

By BLOOMBERG NEWS - The New York Times

Sales of Existing U.S. Homes Leap Higher

Buyers stormed back to the market in July, taking advantage of falling prices, lower interest rates and a tax credit for first-time homeowners, an industry group reported. Read more..

By JACK HEALY - The New York Times

U.S. Helps Spanish Company to Buy Texas Bank

Guaranty Bank, a deeply troubled Texas lender, was sold on Friday to Banco Bilbao Vizcaya Argentaria of Spain in one of the largest government-assisted deals offered to a foreign bank. Read more..

By ERIC DASH - The New York Times

VW Seeks to Turn Nostalgia Into Sales in U.S.

A new VW plant in Chattanooga, Tenn., will produce a midsize sedan that has been designed for American tastes. Read more..

By CARTER DOUGHERTY - The New York Times

See what else happened on August 22, 2009