Media Digest 9/26/2008 Reuters, WSJ, NYTimes, FT, Bloomberg

According to Reuters, talks over a US bailout of banks broke down and will begin again today.

Reuters reports that Washington Mutual (WM) became the largest bank failure in US history. Many of its assets were sold to JP Morgan (JPM).

Reuters reports that RIM (RIMM) fell as it posted a weak forecast.

Reuters reports that central banks loaned out record amounts of cash as the credit crisis grows.

Reuters reports that HSBC (HBC) cut 1,100 jobs.

Reuters writes that the Fed loaned banks an average of $188 billion a day during the last week, a record.

Reuters reports that for Samsung Electronics to buy SanDisk Corp, it must convince U.S. regulators that merging the top flash memory chip maker and the biggest producer of memory cards would not hurt competition.

The Wall Street Journal writes that short-term money markets remain in turmoil as the credit crisis spreads.

The Wall Street Journal reports that Buffett’s decision to rescue Constellation Energy Group could reshape the future of the nuclear-power industry.

The Wall Street Journal reports that the government gave out bad news on housing, employment, and durable goods.

The Wall Street Journal reports the GE (GE) will cut the size of its credit unit.

The Wall Street Journal reports that the Yahoo! (YHOO) ad sales deal with Google (GOOG) is coming under additional scrutiny.

The Wall Street Journal reports that the credit crisis will hurt consumer credit and employment in the months ahead.

The Wall Street Journal reports that more and more companies want to be added to the government’s "no shorting" list of stocks.

The Wall Street Journal reports that former AIG (AIG) CEO Greenberg has begun selling shares.

The Wall Street Journal reports that GM’s (GM) sales fell in China.

The Wall Street Journal reports that shareholders approved the Northwest (NWA) merger with Delta (DAL).

The Wall Street Journal reports that Microsoft (MSFT) cut prices of its Xbox in Asia.

The Wall Street Journal reports that Toyota (TM) cut car production in Japan.

The New York Times reports that financial companies may continue to hold back capital and further lock up the flow of credit.

The New York Times reports that inflation is rising in China.

The FT reports that huge sums of money are being moved out of Morgan Stanley (MS) by customers.

Douglas A. McIntyre.